The online stores dominated around half of the wireless bluetooth speaker market share in 2017, growing at CAGR of more than 12% during the forecast period.
Arizton’s recent market research report on the global wireless speaker market identifies Alibaba Group, Alphabet (Google), Amazon.com, BEATS Electronics (Apple), Bose, HARMAN International (Samsung), Sonos, and Sony as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation by connectivity type (Bluetooth speaker and wi-fi speakers), by price range (low-end, mid-range, and premium), by end users (residential and commercial end-users), by distribution (retail and online), and by geography (North America, Europe, APAC, Latin America, and MEA).
The global wireless speaker market is estimated to generate revenues of more than $27 billion by 2023, growing at a CAGR of around 17% during 2018-2023.
The global wireless speaker market is divided into five major segments that consist of connectivity type, price range, end-user type, distribution channels, and geography.
Wireless Bluetooth speaker to grow at a significant CAGR in the wireless speaker market during forecast period
The global wireless speaker market by connectivity type is segmented into Bluetooth speaker (traditional Bluetooth speaker, waterproof Bluetooth speaker, and rugged Bluetooth speaker) and wifi speaker (Wi-Fi only speaker, hybrid speaker, smart speakers, non-smart speakers, single-room speaker, and multi-room speaker). Wireless Bluetooth speaker dominated a portion of the market share in 2017, growing at CAGR of over 10% during forecast period. The introduction of rugged and waterproof models is propelling the revolutionization of the wireless Bluetooth speaker segment in the global market.
The leading vendors are focusing on introducing advanced battery technology that can run continuously up to 16 to 24 hours in a single charge to attract a large number of consumers in the wireless Bluetooth speaker segment.
Furthermore, innovations in the Bluetooth technology, increasing awareness among end-users in developing countries, and decreasing ASP are some of the major factors leading to the growth of the wireless Bluetooth speaker segment in the global market during the forecast period.
APAC to grow at the fastest CAGR in the wireless speaker market during forecast period
The geographical segment in the global wireless speaker market is classified into North America, Europe, APAC, Latin America, and MEA. APAC occupied a considerable market share in 2017, growing at a CAGR of approximately 34% during the forecast period. The increasing proliferation of low-end wireless Bluetooth speaker across China is propelling the growth of the APAC region in the global market. The introduction of smart speakers and wireless Bluetooth speaker in South Korea, China, and Japan is resulting in the increased revenues in the global market. The improving the quality of life and increasing per capita disposable income is resulting in the rising demand for wireless Bluetooth speaker in the APAC market. Moreover, the growing preference for differentiated and value-added products will help with the development of new wireless speakers and connected devices in the APAC market. The growing market of these innovative systems will create lucrative opportunities for leading wireless Bluetooth speaker and other system vendors in the APAC region in the global market. The availability of budgeted smartphones, high disposable income, and increased buying the power of the middle-class population across India and China will augment the demand for wireless Bluetooth speaker and other such devices in the APAC market.
Online stores to grow at an impressive CAGR in the wireless speaker market during forecast period
The global wireless speaker market by distribution channel is divided into retail (specialty stores, supermarkets, and hypermarkets or mass market players, and electronic stores) and online stores. The online stores dominated around half of the market share in 2017, growing at CAGR of more than 12% during the forecast period. The rapid increase in online sales of products such as wireless Bluetooth speaker by leading consumers such as Amazon, eBay, JD.com, and Alibaba is propelling the growth of the online retail stores in the global market. The ease-of-accessibility and convenience afforded by such channels are one of the primary factors attributing to the growth of the online stores in the global market. The availability of a wide range of products such as smart speakers, wireless Bluetooth speaker, and others will boost the demand across this segment in the global market.
The other prominent players in the market are Altec Lansing, Anker Innovations, AOMAIS, Apple, Artis, Axess, Avnera, Baidu, Bang & Olufsen, Beijing LingLong (JD.com), Boat Lifestyle, Braven, Creative Technology, Deutsche Telekom, DOSS, D&M Holdings (Denon), Edifier, Fabriq, Facebook, Forcovr (Shenzhen Guowei Security), iBall, iClever, ION Audio, Invoxia, Jam Audio, JONTER, KaKao, KitSound by Kondor, Klipsch Group, Koninklijke Philips, KT, Lenovo, LG Electronics, Libratone, LINE, Logitech, Micromax, Mobvoi, Monster Cable Products, Mpow, Mycroft AI, NAVER, NVIDIA, Onkyo & Pioneer, Orange, Panasonic, Photive, Plantronics, Polk Audio, Rock Space (RENQING TECHNOLOGY), Samsung Electronics, SHARKK, Sharp, SK Telecom, Skullcandy, SoundBot, Supersonic, TAGG, Telefónica, Tencent, The House of Marley, TIBO, Tribitaudio, VicTsing, Xiaomi, Yamaha, Yandex, and Zebronics.
The complete overview of the latest market research report on wireless speaker market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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