Wireless Speaker Market

The Wireless Speaker Market is estimated to grow at a faster CAGR over the forecast period (2020-2027).

The factors driving the growth of Wireless Speaker Market includes increasing consumer preference for easy to carry smart speakers, rising popularity of in-home entertainment system, improvements in the internet connectivity and growing penetration of smartphones around the world. According to the report published by Global Home Entertainment Devices Market was estimated around USD 264.65 billion in 2020 and is predicted to reach USD 545.14 billion by the end of 2031, growing at a CAGR of 6.2% over the forecast period (2022-2031), which will accelerate the market growth in the coming years. Moreover, the integration of advanced technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) with the wireless speakers, rise in the launch of innovative products, commercialization of 5G technology and increasing sales of portable speakers, are some of the additional factors supplementing the Wireless Speaker Market size. In addition, the increasing investments by leading players on research and development, easy availability of wireless speakers at the e-commerce industry, rising disposable incomes, rapid urbanization, and improvements in the living standards, are further contributing towards the market growth.

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However, the growth of Wireless Speaker Market is hindered due to growing concerns related to privacy of wireless speakers.

The prominent players operating in the Wireless Speaker Market are Yamaha Corporation, Sennheiser Electronic GmbH & Co. KG, Panasonic Corporation, Altec Lansing Technologies, Inc., Bose Corporation, Samsung Electronics Co., Ltd., Pioneer Electronics Inc., Bang & Olufsen A/S, LG Electronics Inc., Sonos Inc., Koninklijke Philips N.V., Apple Inc., Sony Corporation, Amazon.com, Inc. and Logitech International S.A., among others.

Based on Connectivity Type, the Bluetooth Speakers segment is predicted to grow at a remarkable CAGR during the forecast period

Bluetooth requires no installation, can be connected to smartphones, tablet and laptops, and are increasingly used in headphones and earphones, are some of the factors responsible for the segment’s growth.

Based on End-User, the Commercial segment is projected to expand at a significant CAGR over the forecast period

Wireless speakers are increasingly used in restaurants, offices, educational institutes, and sports club, are propelling the segment’s growth.

Based on Region, the North American region is anticipated to hold the highest market share during the forecast period

Presence of the leading players such as Amazon.com, Inc., Apple Inc. and Bose Corporation, growing demand for technologically advanced smart devices, rising population growth rates and high per capita incomes, are some of the important factors augmenting the Wireless Speaker Market share in North American region.

Key Developments

• In 2019, Sonos, Inc. introduced portable Bluetooth speaker, Sonos Move with inbuilt voice assistant capability, which can be used for controlling the music from streaming services on Phone, or Personal computer.
• In 2019, Sony Corporation announced the launch variety of EXTRA BASS wireless speakers including SRS-XB12, SRS-XB22 and SRS-XB32, which are portable and outdoor party speakers.
• In 2019, JBL, a subsidiary of Samsung Electronics Co., Ltd. announced the launch of Pulse 4, a speaker with 360-degree sound and can be connected wirelessly in two smartphones and tablets.

Market Segmentation

Global Wireless Speakers Market by Connectivity Type

• Bluetooth Speakers
• Wi-Fi Speakers

Global Wireless Speakers Market by Price Range

• Low-End
• Mid-Range
• Premium

Global Wireless Speakers Market by End-User

• Residential
• Commercial

Global Wireless Speakers Market by Distribution Channel

• Online
• Electronic Stores
• Others

Global Wireless Speakers Market by Connectivity Type

• Bluetooth Speakers
• Wi-Fi Speakers

Global Wireless Speakers Market by Price Range

• Low-End
• Mid-Range
• Premium

Global Wireless Speakers Market by End-User

• Residential
• Commercial

Global Wireless Speakers Market by Distribution Channel

• Online
• Electronic Stores
• Others

Global Wireless Speakers Market by Region      

• Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC
• North America
  • United States of America
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe
• RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

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