Bluetooth Speaker Market To Grow at a Robust CAGR During Forecast Period

by David Johnson Top Market Research Company in US

Rising demand for multi-room streaming, rapid innovations with new innovative applications and increasing disposable income to drive global Bluetooth speaker market through 2024

According to Tech Sci Research report, “Global Bluetooth Speaker Market By Type, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2024”, the global Bluetooth speaker market is projected to grow at CAGR of around 40% during the forecast period on account of the growing penetration of smartphones and increasing consumer awareness, emergence of advanced technologies and the growing popularity of multi-room streaming. Moreover, the growth of audio streaming technology further driving the growth of global Bluetooth speaker market.

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" Global Bluetooth Speaker Dietary Fibre Market"

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Global Bluetooth speaker market can be segmented based on type, distribution channel and region. On the basis of type, the market can be segmented into portable Bluetooth speakers and fixed Bluetooth speakers. Portable speakers dominated the global Bluetooth speaker market until 2018 and is expected to maintain its dominance during the forecast period, as they can be carried anywhere, and these units are designed in such a way that the devices are AC powered or AC/DC powered. Furthermore, improvement in lithium-ion battery which is used in portable speakers provide long playback time, therefore further aiding the growth of portable Bluetooth speakers.

Among regions, global Bluetooth speaker market can be segmented into North America, South America, Europe, Asia-Pacific and Middle East & Africa. Emerging smart home systems in the US and Canada is contributing to the largest market share of North America. Moreover, increasing preference for Wi-Fi- and AI-enabled Bluetooth speakers is further anticipated to boost North America Bluetooth speaker market through 2024. Asia-Pacific Bluetooth speaker market is also likely to witness growth during forecast period owing to increasing sales of smart devices like smartphone, tablets, and phablets in emerging countries like India and China, which in turn, is resulting in rising demand for portable products across the region.

Apple Inc. (Beats), Bose Corporation, Samsung Electronics Co., Ltd., Harman International Industries Inc., JBL Inc., Cambridge Sound Works, Inc., Creative Technology Ltd., Altec Lansing/AL Infinity, LLC, Denon Electronics, LLC., Jawbone, Inc., etc., are some of the leading players operating in global Bluetooth speaker market. The key players in the Bluetooth speaker market are competing based on size, features, technology, and price. The companies operating in the market are using strategies such as product launches, mergers and collaborations to boost their share and expand their presence in the market.

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“The global Bluetooth speaker market is anticipated to witness significant growth over the next five years owing to the need for eliminating more than one product in the home. Moreover, innovations in Bluetooth mesh networking technology and rapid technological advancements are further expected to fuel growth in global Bluetooth speaker market during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Bluetooth Speaker Market By Type, By Distribution Channel, By Region, By Company, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global Bluetooth Speaker market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global Bluetooth Speaker market.

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