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Global Bluetooth Speaker Market 2021 Share, Growth by Top Company, Region, Application, Driver, Trends & Forecast

Bluetooth Speaker

The report focuses on the favorable Global “Bluetooth Speaker market” and its expanding nature. The Bluetooth Speaker market report provides a comprehensive study of the market segmentation, service providers, stockholders, sponsors, and important market players, size, and share, market dynamics such as the growth drivers, restraints, challenges, and opportunities.

Market Overview:

  • The bluetooth speaker market was valued at USD 4.62 billion in 2018, and it is expected to reach USD 34.56 billion by 2024, at a CAGR of 40.38%, over the forecast period (2019 – 2024). The increasing need for eliminating more than one product in the home and commercial spaces has led to the growth of bluetooth enabled speakers and sound bars.
  • – Bluetooth speakers have witnessed widespread adoption in the past few years, with these devices accounting for a sizeable share in the audio technology category. Bluetooth speakers come in many shapes and sizes, meeting the requirements of the consumers. With the end users utilizing the devices having different requirements, there is a range of bluetooth speakers available in the market.
  • – Rapid innovations and increasing R&D expenditure with new innovative applications have boosted the demand in the bluetooth speakers market. The growing penetration of smartphones and increasing consumer awareness have further boosted the demand for bluetooth speakers, worldwide.
  • – Advanced technologies, such as AI-assisted devices, are expected to influence the growth of the market in the coming years. Products, such as Amazon Alexa and Google Echo, are having high demand in the market. Thus, many manufacturers are looking to integrate these technologies to gain consumers.

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    Key Manufacturers

  • Sony Corporation
  • Koninklijke Philips NV
  • Bose Corporation
  • Harman International Industries
  • Panasonic Corporation
  • Shure Incorporated
  • Beats Electronics LLC
  • LG Electronics Inc.
  • Best IT World Pvt Ltd (iBall)
  • Logitech International

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    Bluetooth Speaker market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Bluetooth Speaker market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Bluetooth Speaker market have also been involved in the study.

    Scope of the Report:

  • Bluetooth speakers are used for playing music or other forms of audio files through wireless connection. The audio industry is now trying to meet the rising demand for wireless speakers. The scope of this report is by type (portable and fixed), application (residential and commercial), and geography.

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    TOC of Bluetooth Speaker Market Report Covered:

    Introduction, Research Methodology, Executive Summary, Key Inferences, Market Overview, Bluetooth Speaker market Dynamics, Market Segmentation, Competitive Landscape, Key Players, Future of the Market, and continued…

    Reasons to Purchase Bluetooth Speaker Market Report Covered:

    • The report analyses how Bluetooth Speaker market will grow in the future.
    • Analyzing various perspectives of the Bluetooth Speaker market with the help of Porter’s five forces analysis.
    • Study on the product type that is expected to dominate the market and regions that are expected to witness the fastest growth during the forecast period
    • Recognize the new developments, Bluetooth Speaker market shares and policies employed by the major market players.
    • Competitive landscape including the Bluetooth Speaker market share of major players along with the key policies accepted for development in the past five years
    • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major Bluetooth Speaker market players

    Key Market Trends:

    Portable Bluetooth Speaker is the Fastest Growing Segment

    – Portable Bluetooth speakers are devices that are comparably smaller, lighter, and can be moved anywhere. Portable speakers come in many shapes and sizes. Sound bars, tubes, and clips are some of the most widely consumed models in the market.
    – Changing consumer dynamics in the market and increasing preference by the consumers toward portable devices are supporting the growth of the market.
    – The growth of audio streaming technology in various application, like the wireless speakers and in-car-infotainment systems, is driving the portable bluetooth speaker market.
    – The audio streaming technology can be used in point-to-point topology available on bluetooth BR/EDR that is optimized for audio streaming, making it the standard-bearer in wireless audio.
    – According to the Bluetooth.com, with the increasing bluetooth usage in the audio and entertainment industry, 8 out of 10 speakers may include bluetooth by the end of 2022. Additionally, the smart speaker market is expected to grow by three times by the end of 2022.

    Asia-Pacific to Witness the Fastest Growth Rate

    – Asia-Pacific, being the most populated region, is the major developing region and is expected to record the maximum growth rate over the forecast period, 2019-2024.
    – The increasing disposable incomes and technological developments in countries, such as China, India, Japan, and South Korea, help in the growth of the bluetooth speakers market in Asia-Pacific.
    – The increasing number of companies, to meet the growing demand and large availability of products, is expected to drive the market at a high rate in Asia-Pacific.
    – With increasing sales of smartphone and wide adoption of technology, the bluetooth speaker sales are rising in this region.

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    Study objectives of Bluetooth Speaker Market Report:

    • To provide a detailed analysis of the market structure along with the Bluetooth Speaker market forecast of various segments and sub-segments of the Bluetooth Speaker market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Bluetooth Speaker market trends that influence the global Bluetooth Speaker market

    Detailed TOC of Bluetooth Speaker Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increasing Demand for Portable Speakers
    4.4 Market Restraints
    4.4.1 Limited Range Playing Capacity
    4.5 Industry Value Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Forces Analysis
    4.6.1 Bargaining Power of Buyers/Consumers
    4.6.2 Bargaining Power of Suppliers
    4.6.3 Threat of New Entrants
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry
    4.7 Technology Snapshot

    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Portable Bluetooth Speakers
    5.1.2 Fixed Bluetooth Speakers
    5.2 By Application
    5.2.1 Residential
    5.2.2 Commercial
    5.3 Geography
    5.3.1 North America
    5.3.1.1 United States
    5.3.1.2 Canada
    5.3.2 Europe
    5.3.2.1 United Kingdom
    5.3.2.2 Germany
    5.3.2.3 France
    5.3.2.4 Sweden
    5.3.2.5 Rest of Europe
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 India
    5.3.3.3 Japan
    5.3.3.4 Australia
    5.3.3.5 South Korea
    5.3.3.6 Rest of Asia-Pacific
    5.3.4 Latin America
    5.3.4.1 Mexico
    5.3.4.2 Argentina
    5.3.4.3 Brazil
    5.3.4.4 Rest of Latin America
    5.3.5 Middle East & Africa
    5.3.5.1 Israel
    5.3.5.2 UAE
    5.3.5.3 Saudi Arabia
    5.3.5.4 Rest of Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Sony Corporation
    6.1.2 Koninklijke Philips NV
    6.1.3 Bose Corporation
    6.1.4 Harman International Industries
    6.1.5 Panasonic Corporation
    6.1.6 Shure Incorporated
    6.1.7 Beats Electronics LLC
    6.1.8 LG Electronics Inc.
    6.1.9 Best IT World Pvt Ltd (iBall)
    6.1.10 Logitech International

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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