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Global Bluetooth Speaker Market Report By Type (Fixed, Portable), By Distribution Channel (Online, Offline) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2021-2028
ID:VMR11213924
April 2021
Report Formats: Electronic (PDF), MS EXCEL
Bluetooth Speaker Market Overview
The global bluetooth speaker market size was valued at USD 5600 million by 2019 and is estimated to reach USD 11,800 million with a prominent CAGR of 14.8% during the forecast period of 2020-2026. The key drivers impacting the bluetooth speaker market is the rising demand for wireless speakers as this technology works with a wide range of electronic segments such as home theatres, smartphones, music systems, computers, laptops, and many others. According to the Consumer Technology Association,2019 report in the United States, there were 88% of the wireless speakers sold, which are Bluetooth technology-enabled, and it was followed by Wi-Fi- (67%) and smart speakers (62%)shares.
In addition to this, the growth in online music streaming and a rapidly rising number of IoT connected devices is anticipated to increase the bluetooth speaker market demand under the forecast period. As per the Federation of American Scientists (FAS), The global IoT is expected to grow approximately 37% from 2017 to $1,567B by 2025. Also, the number of active IoT devices is estimated to grow from 9.9 billion in 2019 to 21.5 billion in 2025.
The development of networked audio devices has enabled most modern-day speakers to stream audio through Bluetooth acts as an important determinant adding growth to the market. Also, the growing popularity of multi-room streaming at the global level is considered the key trend that positively impacts the market. However, the Improver disconnectivity amongst the devices may hamper the global bluetooth speaker industry in the long run. Also, the issue of dropping batteries in devices like mobiles and laptops are likely to restrict the market growth. The current industry trends show the growing proliferation of smartphones, tablets, PCs, and technology advancements to give innovative solutions is surging smart devices' requirement in the coming years, thus creating new market opportunities for the key players.
The bluetooth speaker market is vast, with a large number of local and global players. The key leaders follow various strategies to improve their market position, such as mergers, acquisitions, expansions, and improved quality products at the best prices to enhance their market share across the world. For instance, in 2019 May, Sony Corporation had launched its first Bluetooth speakers primarily focused on its outdoor usage. The speaker, Sony GTK-PG10, can provide a battery backup of 13 hours, and it weighs around 6.7 kg. It is integrated with the DSP (Digital Signal Processor) that auto-adjusts the sound according to its surroundings. The report studies a few key players of the global bluetooth speaker market in detail, covering the company profile, product list, and financial information. The dominating key players included in the report are Sony Corporation, Koninklijke Philips NV, Samsung Electronics Co. Ltd. (Harman International Industries), Bose Corporation, Shure Incorporated, Beats Electronics, Harman, Altec Lansing always been the initial targets of bluetooth speaker companies and many others.
In this market research report, the market is segmented by type, distribution channel, and region.
Analysis By Type
By type, the report is categorized into portable and fixed bluetooth speakers. A portable bluetooth speaker dominates the type segment in 2019 with a maximum market share in terms of revenue. It is expected to maintain its dominancy over the forecast period as it can be easily configured with smartphones and tablets. Moreover, they are compact and lightweight, leading to its high adoption in the global market.
Analysis By Distribution channel
By distribution channel, the report is categorized into online and offline channels. Offline channels dominate the distribution channel segment in 2019 with a maximum market share. It is because offline channels display a detailed analysis of the technology integrated into the product to get a practical experience of the same. Online channel is expected to be the fastest-growing segment over the forecast period in the forecast period. It is due to the growing e-commerce industry and mounting customer preference for online purchases. Also, online channels provide information on the latest devices arriving and available in the market.
Analysis By Region
In the regional outlook of the global bluetooth speaker market, North America dominates with maximum shares in 2019. It is expected to maintain its dominancy over the forecast period due to increased penetration of smartphones and other mobile devices and easy availability of online music and video streaming. Asia Pacific region is the significant region globally driving the market share by the end forecast period. The growing penetration of smartphones due to urbanization and the availability of budgeted smartphones are the primary growth factors driving the Bluetooth speaker demand in India and China. Besides, China is a manufacturing hub of electronics, and rapid technological developments lead to APAC region growth.
Market Segmentation covered in the Report:
By Type
By Distribution Channel
By Region
The global bluetooth speaker market size was valued at USD 5600 million by 2019 and is estimated to reach USD 11,800 million with a prominent CAGR of 14.8% during the forecast period of 2020-2026. The key drivers impacting the bluetooth speaker market is the rising demand for wireless speakers as this technology works with a wide range of electronic segments such as home theatres, smartphones, music systems, computers, laptops, and many others. According to the Consumer Technology Association,2019 report in the United States, there were 88% of the wireless speakers sold, which are Bluetooth technology-enabled, and it was followed by Wi-Fi- (67%) and smart speakers (62%)shares.
In addition to this, the growth in online music streaming and a rapidly rising number of IoT connected devices is anticipated to increase the bluetooth speaker market demand under the forecast period. As per the Federation of American Scientists (FAS), The global IoT is expected to grow approximately 37% from 2017 to $1,567B by 2025. Also, the number of active IoT devices is estimated to grow from 9.9 billion in 2019 to 21.5 billion in 2025.
The development of networked audio devices has enabled most modern-day speakers to stream audio through Bluetooth acts as an important determinant adding growth to the market. Also, the growing popularity of multi-room streaming at the global level is considered the key trend that positively impacts the market. However, the Improver disconnectivity amongst the devices may hamper the global bluetooth speaker industry in the long run. Also, the issue of dropping batteries in devices like mobiles and laptops are likely to restrict the market growth. The current industry trends show the growing proliferation of smartphones, tablets, PCs, and technology advancements to give innovative solutions is surging smart devices' requirement in the coming years, thus creating new market opportunities for the key players.
The bluetooth speaker market is vast, with a large number of local and global players. The key leaders follow various strategies to improve their market position, such as mergers, acquisitions, expansions, and improved quality products at the best prices to enhance their market share across the world. For instance, in 2019 May, Sony Corporation had launched its first Bluetooth speakers primarily focused on its outdoor usage. The speaker, Sony GTK-PG10, can provide a battery backup of 13 hours, and it weighs around 6.7 kg. It is integrated with the DSP (Digital Signal Processor) that auto-adjusts the sound according to its surroundings. The report studies a few key players of the global bluetooth speaker market in detail, covering the company profile, product list, and financial information. The dominating key players included in the report are Sony Corporation, Koninklijke Philips NV, Samsung Electronics Co. Ltd. (Harman International Industries), Bose Corporation, Shure Incorporated, Beats Electronics, Harman, Altec Lansing always been the initial targets of bluetooth speaker companies and many others.
In this market research report, the market is segmented by type, distribution channel, and region.
Analysis By Type
By type, the report is categorized into portable and fixed bluetooth speakers. A portable bluetooth speaker dominates the type segment in 2019 with a maximum market share in terms of revenue. It is expected to maintain its dominancy over the forecast period as it can be easily configured with smartphones and tablets. Moreover, they are compact and lightweight, leading to its high adoption in the global market.
Analysis By Distribution channel
By distribution channel, the report is categorized into online and offline channels. Offline channels dominate the distribution channel segment in 2019 with a maximum market share. It is because offline channels display a detailed analysis of the technology integrated into the product to get a practical experience of the same. Online channel is expected to be the fastest-growing segment over the forecast period in the forecast period. It is due to the growing e-commerce industry and mounting customer preference for online purchases. Also, online channels provide information on the latest devices arriving and available in the market.
Analysis By Region
In the regional outlook of the global bluetooth speaker market, North America dominates with maximum shares in 2019. It is expected to maintain its dominancy over the forecast period due to increased penetration of smartphones and other mobile devices and easy availability of online music and video streaming. Asia Pacific region is the significant region globally driving the market share by the end forecast period. The growing penetration of smartphones due to urbanization and the availability of budgeted smartphones are the primary growth factors driving the Bluetooth speaker demand in India and China. Besides, China is a manufacturing hub of electronics, and rapid technological developments lead to APAC region growth.
Market Segmentation covered in the Report:
By Type
- Fixed
- Portable
By Distribution Channel
- Online
- Offline
By Region
- North America
- Europe
- the Asia Pacific
- Latin America
- The Middle East and Africa
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TABLE OF CONTENTS
1 . PREFACE
1.1. Report Description
1.1.1. Objective
1.1.2. Target Audience
1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2 . EXECUTIVE SUMMARY
2.1. Highlights of Market
2.2. Global Market Snapshot
3 . BLUETOOTH SPEAKER – INDUSTRY ANALYSIS
3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter’s Five Force Analysis
3.7. Market Attractiveness Analysis
3.7.1 By Type
3.7.2 By Distribution Channel
3.7.3 By Region
4 . VALUE CHAIN ANALYSIS
4.1. Value Chain Analysis
4.2. Raw Material Analysis
4.2.1. List of Raw Materials
4.2.2. Raw Material Manufactures List
4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
4.4.1. Direct Marketing
4.4.2. Indirect Marketing
4.4.3. Marketing Channel Development Trend
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
5.1. Impact Analysis of Covid-19 Outbreak
5.1.1. Direct Impact on Production
5.1.2. Supply Chain and Market Disruption
5.1.3. Financial Impact on Firms and Financial Markets
5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
5.3. Market: Pre V/S Post COVID-19
5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
5.5. COVID-19: Micro and Macro Factor Analysis
6 . GLOBAL BLUETOOTH SPEAKER MARKET ANALYSIS BY TYPE
6.1 Overview by Type
6.2 Historical and Forecast Data
6.3 Analysis by Type
6.4 Fixed Market by Regions
6.6 Portable Market by Regions
7 . GLOBAL BLUETOOTH SPEAKER MARKET ANALYSIS BY DISTRIBUTION CHANNEL
7.1 Overview by Distribution Channel
7.2 Historical and Forecast Data
7.3 Analysis by Distribution Channel
7.4 Online Market by Regions
7.5 Offline Market by Regions
8 . GLOBAL BLUETOOTH SPEAKER MARKET ANALYSIS BY GEOGRAPHY
8.1. Regional Outlook
8.2. Introduction
8.3. North America
8.3.1. Overview, Historic and Forecast Data
8.3.2. North America By Segment
8.3.3. North America By Country
8.3.4. United State
8.3.5. Canada
8.3.6. Mexico
8.4. Europe
8.4.1. Overview, Historic and Forecast Data
8.4.2. Europe by Segment
8.4.3. Europe by Country
8.4.4. United Kingdom
8.4.5. France
8.4.6. Germany
8.4.7. Italy
8.4.8. Russia
8.4.9. Rest Of Europe
8.5. Asia Pacific
8.5.1. Overview, Historic and Forecast Data
8.5.2. Asia Pacific by Segment
8.5.3. Asia Pacific by Country
8.5.4. China
8.5.5. India
8.5.6. Japan
8.5.7. South Korea
8.5.8. Australia
8.5.9. Rest Of Asia Pacific
8.6. Latin America
8.6.1. Overview, Historic and Forecast Data
8.6.2. Latin America by Segment
8.6.3. Latin America by Country
8.6.4. Brazil
8.6.5. Argentina
8.6.6. Peru
8.6.7. Chile
8.6.8. Rest of Latin America
8.7. Middle East & Africa
8.7.1. Overview, Historic and Forecast Data
8.7.2. Middle East & Africa by Segment
8.7.3. Middle East & Africa by Country
8.7.4. Saudi Arabia
8.7.5. UAE
8.7.6. Israel
8.7.7. South Africa
8.7.8. Rest Of Middle East And Africa
9 . COMPETITIVE LANDSCAPE OF THE BLUETOOTH SPEAKER COMPANIES
9.1. Bluetooth Speaker Market Competition
9.2. Partnership/Collaboration/Agreement
9.3. Merger And Acquisitions
9.4. New Product Launch
9.5. Other Developments
10 . COMPANY PROFILES OF BLUETOOTH SPEAKER INDUSTRY
10.1. Company Share Analysis
10.2. Market Concentration Rate
10.3. Sony Corporation
10.3.1. Company Overview
10.3.2. Financials
10.3.3. Products
10.3.4. Recent Developments
10.4. Koninklijke Philips NV
10.4.1. Company Overview
10.4.2. Financials
10.4.3. Products
10.4.4. Recent Developments
10.5. Samsung Electronics Co. Ltd. (Harman International Industries)
10.5.1. Company Overview
10.5.2. Financials
10.5.3. Products
10.5.4. Recent Developments
10.6. Bose Corporation
10.6.1. Company Overview
10.6.2. Financials
10.6.3. Products
10.6.4. Recent Developments
10.7. Shure Incorporated
10.7.1. Company Overview
10.7.2. Financials
10.7.3. Products
10.7.4. Recent Developments
10.8. Beats Electronics
10.8.1. Company Overview
10.8.2. Financials
10.8.3. Products
10.8.4. Recent Developments
10.9. Harman
10.9.1. Company Overview
10.9.2. Financials
10.9.3. Products
10.9.4. Recent Developments
10.10. Altec Lansing
10.10.1. Company Overview
10.10.2. Financials
10.10.3. Products
10.10.4. Recent Developments
*Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
LIST OF TABLES
- Market Snapshot
- Drivers : Impact Analysis
- Restraints : Impact Analysis
- List of Raw Material
- List of Raw Material Manufactures
- List of Potential Buyers
- COVID-19 Impact Analysis by Production, Import, Export and Demand
- Pre V/S Post COVID-19
- Estimated Impact Of The Coronavirus (Covid-19) Epidemic
- COVID-19: Micro and Macro Factor Analysis
- Analysis by Type (USD MN)
- Fixed Market by Geography (USD MN)
- Portable Market by Geography (USD MN)
- Analysis Market by Distribution Channel (USD MN)
- Online Market by Geography (USD MN)
- Offline Market by Geography (USD MN)
- Global Bluetooth Speaker Market by Geography (USD MN)
- North America Market Analysis (USD MN)
- United State Market Analysis (USD MN)
- Canada Market Analysis (USD MN)
- Mexico Market Analysis (USD MN)
- Europe Market Analysis (USD MN)
- Europe Market Estimate by Country (USD MN)
- United Kingdom Market Analysis (USD MN)
- France Market Analysis (USD MN)
- Germany Market Analysis (USD MN)
- Italy Market Analysis (USD MN)
- Russia Market Analysis (USD MN)
- Spain Market Analysis (USD MN)
- Rest of Europe Market Analysis (USD MN)
- Asia Pacific Market Analysis (USD MN)
- China Market Analysis (USD MN)
- Japan Market Analysis (USD MN)
- India Market Analysis (USD MN)
- South Korea Market Analysis (USD MN)
- Australia Market Analysis (USD MN)
- Rest of Asia Pacific Market Analysis (USD MN)
- Latin America Market Analysis (USD MN)
- Brazil Market Analysis (USD MN)
- Argentina Market Analysis (USD MN)
- Peru Market Analysis (USD MN)
- Chile Market Analysis (USD MN)
- Rest of Latin America Market Analysis (USD MN)
- Middle East & Africa Market Analysis (USD MN)
- Saudi Arabia Market Analysis (USD MN)
- UAE Market Analysis (USD MN)
- Israel Market Analysis (USD MN)
- South Africa Market Analysis (USD MN)
- Rest of Middle East and Africa Market Analysis (USD MN)
- Partnership/Collaboration/Agreement
- Mergers And Acquisiton
LIST OF FIGURES
- Research Scope of Bluetooth Speaker Report
- Market Research Process
- Market Research Methodology
- Global Bluetooth Speaker Market Size, by Region (USD MN)
- Porters Five Forces Analysis
- Market Attractiveness Analysis by Type
- Market Attractiveness Analysis by Distribution Channel
- Market Attractiveness Analysis by Region
- Value Chain Analysis
- Global Market Analysis by Type (USD MN)
- Fixed Market by Geography (USD MN)
- Portable Market by Geography (USD MN)
- Global Market Analysis by Distribution Channel (USD MN)
- Online Market by Geography (USD MN)
- Offline Market by Geography (USD MN)
- Global Market by Revenue
- North America Market by Revenue
- Europe Market by Revenue
- Asia Pacific Market by Revenue
- Latin America Market by Revenue
- Middle East & Africa Market by Revenue
- Recent Development in Industry
- Company Market Share Analysis
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.
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Objectives of Study
- Define and measure the global market
- Volume or revenue forecast of the global market and its various sub-segments with respect to main geographies
- Analyze and identify major market trends along with the factors driving or inhibiting the market growth
- Study the company profiles of the major market players with their market share
- Analyze competitive developments