Apr 14, 2020   SOURCE: PR NewsWire

Global Bluetooth Speakers Industry, Forecast to 2025 by Type, Application and Geography

DUBLIN, April 14, 2020 /PRNewswire/ -- The "Bluetooth Speaker Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.

https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

The global bluetooth speaker market was valued at USD 6.49 billion in 2019, and it is expected to reach USD 48.52 billion by 2025, at a CAGR of 40.38%, over the forecast period (2020-2025). 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.

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.

Competitive Landscape

The bluetooth speaker market is highly fragmented, as changing consumer demands are pushing companies to innovate in the space to attract more consumers. The competition in this market has intensified over the years, with companies launching a multitude of products to attract consumers. Some of the key players in the market are Sony Corporation, Harman International Industries, Bose Corporation, Koninklijke Philips, and Shure Incorporated.

Recent Industry Developments

    --  April 2019 - Harman a wholly-owned subsidiary of Samsung Electronics Co.
        Ltd. focused on connected technologies for the automotive, consumer, and
        enterprise markets, showcases its Premium Communications solution for
        the first time in China at the Shanghai Auto Show. Premium
        Communications is a first-of-its-kind modular offering designed to
        elevate present in-vehicle communication environment. Premium
        Communications enables clear, frustration-free conversations for all
        occupants within a vehicle.
    --  January 2019 - Sony announced an all new music experience called "360
        Reality Audio" that makes listeners feel as if they are immersed in
        sound from all directions. The new experience is delivered by Sony's
        object-based spatial audio technology and was announced at CES 2019 in
        Las Vegas.

Key Topics Covered

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
4.7 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
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Sony Corporation
6.1.2 Koninklijke Philips N.V.
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

For more information about this report visit https://www.researchandmarkets.com/r/2xyyln

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.


Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

View original content:http://www.prnewswire.com/news-releases/global-bluetooth-speakers-industry-forecast-to-2025-by-type-application-and-geography-301040113.html

SOURCE Research and Markets