The global market for Bluetooth Speaker, which was anticipated to be worth USD 8.23billion in 2021, is expected to expand to USD 59.63 billion by 2028, with a CAGR of 32.7% throughout the analysis period.
Bluetooth speakers are wireless and need minimal space, as compared to home theaters. One of the primary aspects fueling global demand for Bluetooth speakers is their ability to remotely broadcast audio content. Bluetooth speakers are perfect for outdoor use because they run on batteries. Other benefits of these speakers include easy maintenance, increased durability, and good functionality, all of which will drive the global Bluetooth speakers’ market forward over the projection period. Multi-room streaming’s increasing popularity is a trend that is projected to continue, boosting the worldwide Bluetooth speaker market’s growth.
Depending of a company’s size or revenue, the most recent research study offers a thorough analysis of the Bluetooth Speaker market for the projected years 2022–2028. The key market insights and industry strategy for COVID-19 (Omicron) in the following years are covered in this survey study. The Bluetooth Speaker market research provides data and information on the evolution of the investment structure, technological advances, market trends and developments, market capacities, and in-depth details on the major market participants. The analysis also includes a summary of the global market strategies that have been implemented in light of the industry’s present and future conditions.
Key Prominent Players In The Bluetooth Speaker Market:
Bose Corporation Inc., Harman International Industries, Altec Lansing, Best It World Pvt. Ltd. (iBall), Plantronics Inc., JVC Kenwood Corporation, Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, Samsung Corporation, Shure Incorporated, Sony Corporation and others
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The Bluetooth Speaker market is segmented by type and application. Growth between segments over the period 2022-2028 provides accurate calculations and forecasts of revenue by type and application in terms of volume and value. This analysis can help you expand your business by targeting eligible niches.
Bluetooth Speaker Market Segment by Portability, Estimates, and Forecast by 2028
Bluetooth Speaker Market Segment by End-Users, Estimates, and Forecast by 2028
Regional Analysis for COVID-19 Outbreak-Global Bluetooth Speaker Market:
- APAC (Japan, China, South Korea, Australia, India, and Rest of APAC)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
- North America (U.S., Canada, and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, UAE, South Africa)
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Key Market Drivers:
- Rising Popularity of Bluetooth Speakers
Key Market Restraints:
- Volatility in The Price of Raw Materials
- Advancement in Technology
Key Industry Development in the Bluetooth Speaker Market:
In August 2020, Killer Concepts, electronic accessories, and devices product provider launched ROCKsteady Stadium, a portable, AI-enabled Bluetooth speaker where users can hear the musical sounds with its original clarity.
In June 2020, LG Electronics Inc. launched the XBOOM Go Portable Speaker line-up with its LG XBOOM Go PL Series enabled with meridian’s advanced audio technology to provide premium quality sound speakers to the consumers in the USA.
In May 2019 – Sony Corporation launched its first Bluetooth speakers focused on outdoor usage. The speaker, Sony GTK-PG10, offers 13 hours of battery backup and is equipped with The DSP (Digital Signal Processor) that auto-adjusts the sound based on its surroundings and weighs around 6.7 kg.
Covid-19 Impact and Recovery Analysis on Industry:
We’ve kept track of Covid-19’s direct impact on this market as well as its indirect impact on other industries. During the analysis period, the impact of the Covid-19 pandemic on the market is predicted to be significant. From a worldwide and regional viewpoint, this report examines the influence of the pandemic on the Bluetooth Speaker industry. The study categorizes the Bluetooth Speaker industry by type, application, and consumer sector to determine market size, market features, and market growth. It also includes a thorough examination of the factors that influenced market development before and after the Covid-19 pandemic. In addition, the research did a pest analysis in the sector to investigate major influencers and entrance obstacles.
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