Bluetooth speakers or wireless speakers are the loudspeakers or ear pods/air dopes, which are connected wirelessly through Bluetooth (radio frequency waves). Bluetooth speakers, such as such as Alexa, Google Assistance, and Apple Home Pod, have helped people make their life effortless. These Bluetooth speakers are portable and provide ease to human life. Consumers are attracted toward Bluetooth speakers as they offer convenience and majority of consumers are shifting their interest toward Bluetooth speaker segment from wired speaker segment. The Bluetooth speakers are in demand not only by individual users but also by commercial users, as it is hassle-free and time saving gadget. These speakers have been proven clever and helped boost productivity. Distribution channels also played vital role in achieving market growth of Bluetooth speakers as it is easily available on online shopping platforms and digital stores. Bluetooth speakers are a key trend in the market as they are cheaper than Wi-Fi speakers.
COVID-19 Impact Analysis
- Lockdown was imposed by the governments during the pre-COVID-19, and everything have been shifting to digital platforms such as online studies and work from home. This has boosted the growth of the Bluetooth speaker market.
- As in first two quarters the delivery of essentials were only allowed in lockdown, it has resulted into interruption in supply chain of raw material & disturbance in production cycle of Bluetooth speakers.
Top Impacting Factors
- Innovation played a vital role in the growth of the Bluetooth speaker market as it offers customer new features such as wireless connectivity and device-controlled lights in portable speakers. These are most important drivers in the growth of the Bluetooth speaker market.
- Introduction of Bluetooth speakers with long battery life facilitate carrying the speakers while travelling and can be used for long hours with the help of lithium-ion batteries. They offer long play time without electricity and wires. This factor is expected to drive the growth of the Bluetooth speaker market.
- These speakers are also available in affordable prices and with emerging trend of online music streaming, the demand for Bluetooth speaker is also increasing among consumers. This is also one of the significant factors responsible for the growth of the Bluetooth speaker market.
Market Trends
Innovation in Bluetooth speakers
To serve an innovation in Bluetooth speakers, the key players focusing toward continuous R&D to enhance experience of consumers and come up with solution of fast charging technology in Bluetooth speakers. Consumers prefer blue tooth speakers over Wi-Fi or wired speakers as they support fast charging and get easily charged using power bank, laptops, or using any USB ports. This is one of the most important factors that drives the growth of the Bluetooth speaker market.
Attractive designs and offering of ease of connect
Bluetooth speakers are available in different shapes and sleek designs such as sound bars and tube. They are easy to connect and supportable to smart television and offer new experience of smart homes and home theaters to its consumers. Bluetooth speakers are trendy in design and wireless in nature, which drive the growth of the Bluetooth speaker market.
Increase in popularity of wireless technology and product durability
Sudden increase in demand of wireless technology is a significant factor that fuels the growth of the Bluetooth speaker market. Bluetooth speakers are also a part of wireless technology, wired speakers such as earplugs wear out quickly as compared to Bluetooth air dopes/air pods, which increase durability of products. Furthermore, water resistance Bluetooth speakers are also available in the market that possess higher durability than wired speakers. This drives the growth of the Bluetooth speaker market.
Key Benefits of Report-
- This study presents the analytical depiction of the Bluetooth speaker industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Bluetooth speaker market share.
- The current market is quantitatively analyzed to highlight the Bluetooth speaker market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Bluetooth speaker market analysis based on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Report
- Who are the leading market players active in the Bluetooth speaker market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Bluetooth Speaker Market Report Highlights
| Aspects | Details |
 By Products Type |
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 By Price Point |
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 By End User |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Panasonic Corporation, Apple Inc, Samsung Electronics Co.Ltd., LG Electronics Inc., OnePlus Technology Co. Ltd, Imagine Marketing Services Pvt. Ltd.(boat)., Beats Electronics LLC, Marshall Amplification PLC, Xiaomi Corp., Sony Group Corporation |
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