Bluetooth Speaker Market is estimated to be US$ 5.22 billion by 2030 with a CAGR of 11.5% during the forecast period
Bluetooth Speaker Market accounted for US$ 1.77 billion in 2020 and is estimated to be US$ 5.22 billion by 2030 and is anticipated to register a CAGR of 11.50%. Improved wireless networking features have been implemented into all speaker categories in recent years, including sound bars, mobile docking speakers, and wall units. As a result of the improved television quality, there is a growing demand for sophisticated speakers. Furthermore, as consumer lifestyles and entertainment needs change, high-end home theatre systems are becoming more popular. As a result, subwoofer systems, in-wall speakers, and sound bars have a potential market.
The report "Global Bluetooth Speaker Market, By Charging Technology (AC Only, DC Only, AC/DC, and Wireless Charging), By Application (House, Office, Retail, Educational Institutions, and Leisure), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
· In 2021, In India, the Realme Cobble Bluetooth Speaker, also known as the Pocket Bluetooth Speaker, is available for purchase. The Realme Cobble Bluetooth Speaker costs Rs 1,799, but it will be available at a discounted price of Rs 1,499 for a limited time. Metal Black and Electronic Blue are the two colours available.
Analyst View:
The need for wireless connectivity in urban households has risen as the adoption of Wi-Fi-based networks has increased, as has the proliferation of connected gadgets. Furthermore, the ability of speakers to provide wireless connectivity has become a major driving force in the market. The development of smart speakers has benefited from this trend. On a global level, for example, sales of the gadgets increased by 50% between 2016-17 and 2018-19. Product innovation is one of the key drivers of market expansion. This trend is playing an important role in attracting consumer attention.
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Key Market Insights from the report:
Global Bluetooth Speaker Market accounted for US$ 1.77 billion in 2020 and is estimated to be US$ 5.22 billion by 2030 and is anticipated to register a CAGR of 11.50%. The Global bluetooth speaker market has been segmented on the basis of charging technology, application, and region.
· Based on Charging Technology, Global Bluetooth Speaker Market is segmented into Software and Hardw AC Only, DC Only, AC/DC, and Wireless Charging.
· Based on Application, Global Bluetooth Speaker Market is segmented into House, Office, Retail, Educational Institutions, and Leisure.
· By Region, the Global Bluetooth Speaker Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Bluetooth Speaker Market:
Key players operating in the global bluetooth speaker market includes Sony Corporation, Koninklijke Philips N.V., Harman International Industries Inc., Bose Corporation, Shure Incorporated, Samsung Group, Beats Electronics, LG Electronics Inc., Best IT World Pvt Ltd., and JVC Kenwood corporation.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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