Wireless Speakers Market:
Growth opportunities in the Wireless Speakers market look promising over the next six years. This is attributed to the increasing adoption of smartphones, rising adoption of wireless connectivity technology, followed by the growing popularity of in-home entertainment systems, the internet of things, and smart homes around the world.
Wireless Speakers Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Some of the major factors that are contributing to the growth of the global wireless speakers market share include the ability of wireless speakers to provide a high-quality listening experience to the customers without any wires and to connect easily to devices. The wireless speakers have good battery life, are light in weight, and have aesthetic appeal. Moreover, the increasing adoption of smartphones and tablets is further supporting the use of wireless speakers market as they can easily be connected to smartphones with the help of an application. The wireless speakers allow playing audio files on mobiles, tablets and stream podcasts through the internet without the need of headphones.
The rising adoption of wireless connectivity technology has surged the penetration of wireless speakers in different industry verticals, which include entertainment, teaching, hospitality, sports, clubs, home entertainment, and others. In addition to this, the increasing popularity of the internet of things, in-home entertainment systems, and smart homes are further propelling the market growth. There has been an increase in the demand for innovative audio equipment, which is promoting the top companies to introduce new products such as wireless speakers with voice assistant technology and AI-assisted devices. This will further contribute to the growth of the market over the coming years. The emergence of 4G and 5G networks along with the increasing rate of data usage among people, is surging the use of wireless communication between electronic devices, hence raising the adoption of the wireless speaker market over the coming years.
The rising adoption of technologies, which include AI-assisted devices, is further propelling the market growth. AI-enabled wireless speaker including Amazon Echo Dot 3rd Gen, Google Home Max, and JBL Link 10, offer advantages such as voice recognition, storage of data on the cloud that allows quick access to the data. This is propelling the market growth over the forecast period. However, the rising concerns related to data privacy, along with the increasing incidences of hacking, limited connectivity range, along with the emergence of the coronavirus pandemic, are hampering the growth of the wireless speaker market size.
Wireless Speakers Market’s leading Manufacturers:
- Bose Corporation
- Samsung Electronics Co., Ltd.
- Sony Corporation
- com, Inc.
- Sonos Inc.
- Koninklijke Philips N.V.
- Apple Inc.
- Logitech International S.A.
- Yamaha Corporation
- Sennheiser Electronic GmbH & Co. KG
- Panasonic Corporation
- Pioneer Electronics Inc.
- Bang & Olufsen A/S
- LG Electronics Inc.
- Altec Lansing Technologies, Inc.
Wireless Speakers Market Segmentation:
Segmentation by Connectivity Type:
- Bluetooth Speakers
- Wi-Fi Speakers
Segmentation by Price Range:
- Low-End
- Mid-Range
- Premium
Segmentation by End-User:
- Residential
- Commercial
Segmentation by Distribution Channel:
- Online
- Electronic Stores
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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