Bluetooth speaker market is anticipated to grow at a considerable CAGR of 11.5% during the forecast period. Bluetooth speakers are often used by youngsters to listen to music at any time and in any location. Consumers’ increasing use of wireless electronic gadgets has increased demand for such items. Users nowadays frequently utilize multi-colored Bluetooth speakers to decorate their living and hall areas. Alexa, Amazon, and other interactive Bluetooth speakers are also becoming increasingly popular, resulting in high demand for Bluetooth speakers. For instance, according to NPR (National Public Radio) and Edison Research’s 2022 Smart Audio Study, 24% of those over the age of 18 own at least one smart speaker. This equates to around 60 million individuals. Because most consumers own more than one smart speaker, the research predicts that there are currently 157 million of these devices in US homes. The study is based on a telephone survey of a little over 1,000 individuals in the US.
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The global Bluetooth speaker market is segmented by type and application. Based on type, the market is bifurcated into wireless and wired. Based on application, the market is bifurcated into residential and commercial. Among applications, the commercial segment is expected to account for the majority of market share. The commercial sector is likely to account for a sizable proportion of the market due to the high demand for bass-system-based Bluetooth speakers at various parties and festival celebration auditoriums. Additionally, rising outdoor activity patterns are bolstering future segmental growth.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Bluetooth Speaker Market Report Segment
By Type
- Wireless
- Wired
By Application
- Residential
- Commercial
Global Bluetooth Speaker Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East and Africa
The Report Covers-
- Market value data analysis for 2023 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Bluetooth speaker market. Based on the availability of data, information related to new product launches and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who stands where’ in the market.
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