U.S. Wireless Speaker Market - Industry Outlook and Forecast 2018-2023

INDUSTRY INSIGHTS

The exponential proliferation of smartphones, tablets, PCs, or other dedicated wireless controllers is propelling the requirement of smart devices and boosting the growth of U.S. wireless speaker market. The focus on developing the connectivity technology is leading to the introduction of the Wi-Fi and Bluetooth speakers in the US region. The growing demand for advanced audio equipment will augment the growth of the US region. The launch and commercialization of smart and connected devices will help vendors meet the consumer preferences and requirements. The introduction of new product models with innovative features that increases the convenience of using these devices will revolutionize the US market over the next few years. The increasing in consumer spending limits and the economic recovery is creating lucrative prospects for smart speaker companies operating in the region. The increasing adoption of highly durable consumer appliances will drive the demand. The launch of waterproof and rugged Bluetooth speakers will transform the US market. The continuous product innovation has led to the introduction of smart speakers with voice assistant technology in the region. Additionally, the integration of voice-assistance technology in household appliances, enhanced marketing, and growing visibility of these products through online retail channels will led to the development of the U.S. wireless speaker market.

The growing presence of online retailers such as Amazon and eBay offering a wide range of products from several vendors will boost the sales and revenues in the US region. The leading manufacturers are investing in the R&D of innovative products that can add value, enhance home experience, and offer the ease of convenience to attract maximum number of consumers.

Market Dynamics

The increasing adoption of smart homes that increase connectivity of household applications will contribute to the growth of the U.S. wireless speaker market. The use of automation of systems that provides integrated, centralized control of individual systems such as small appliances, consumer electronics, environmental control systems, and building components is an integral part of smart home environment. The top players are thereby, identifying the need to launch and innovate smart devices that are compatible with the concept of smart homes to boost their revenues in the region. The launch of systems that offer enhanced connectedness and the ability to converge voice-assistance technology with the smart home concept will fuel the development of the market during the forecast period. Additionally, the efforts to digitalize home and home applications will have a positive impact on the wireless speaker market in US.

US Wireless Speaker Market Segmentation

This research report includes a detailed segmentation by connectivity type, price range, end-user type, and distribution channels.

INSIGHTS BY CONNECTIVITY

Advanced battery technology for Bluetooth Speaker will boost sales during forecast period

Bluetooth segment dominated a significant portion of the share in 2017, growing at a CAGR of around 11% during the forecast period. The increasing focus on production innovation and launch of systems with a unique design and latest technology is fueling the growth of this segment. The increasing investment in battery technology will help manufactures boost the battery backup in Bluetooth speakers in the US market. These innovations have led to the improvement of battery capacity that can run continuously up to 16 to 24 hours in a single charge. Moreover, the innovations in Bluetooth technology, introduction of new models, and decreasing ASP are some of the major factors augmenting the growth of this segment.

INSIGHTS BY END-USERS

Residential segment are the largest end-users in the U.S. wireless speaker market

The end-users segment is classified into residential end-users and commercial end-users. The residential end-user occupied the largest share in 2017, growing at a CAGR of approximately 14% during the forecast period. This end-user segment consists of individuals who buy speakers for their home use or residential purposes. The smart home users form the largest users of these innovative systems in the residential segment. These are widely used as home entertainment systems by individuals in the region. These find applications for music streaming via smartphones or PCs among end-users in the region. Some households may have more than one speaker installed thereby, driving the demand for these sound reinforcement devices. Multi-room speakers are gaining massive popularity and boosting growth of the U.S. wireless speaker market shares.

INSIGHTS BY DISTRIBUTION CHANNEL

Emergence of various online retail giants will propel the growth during forecast period

The distribution channel is categorized into retail (specialty stores, mass market players, and electronic stores) and online channels. The online channel dominated the majority share in 2017, growing at a CAGR of over 11% during the forecast period. The increasing proliferation of online retail giants such as Amazon, eBay, and Best Buy that offer a wide range of products will attribute to the growing sales in this segment. The increasing number of online OEMs’ e-commerce portals and online direct-to-consumer stores will boost revenues in the region. Factors such as ease-of-accessibility, convenience, and affordability is promoting the popularity of these channels among consumers =. Many vendors are offering YouTube tutorial videos that help beginners get knowledge of the working and setting-up voice-assistant speakers. These benefits will augment the growth of this segment during the forecast period.

The U.S. wireless speaker market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

Connectivity Type

• Bluetooth Speakers
• Traditional
• Waterproof
• Rugged
• Wi-Fi Speaker
• Based on Connectivity Technology
• Wi-Fi only
• Hybrid
• Based on Voice Assistance
• Smart
• Non-Smart
• Based on Room Placement
• Single-Room
• Multi-Room

 Price Range

• Low-end Range (< $50)
• Medium Range ($51 - $200)
• Premium Range (> $200)

End-User Type

• Residential End-users
• Commercial End-users

Distribution Channel

• Retail
• Specialty Stores
• Mass Market Players
• Electronic Stores
• Online