According to the latest report by IMARC Group, titled “Bluetooth Speaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global Bluetooth speaker market reached US$ 10.1 Billion in 2021. On account of these factors, the market is projected to exhibit a CAGR of 19.1% during the forecast period (2022-2027).

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Bluetooth speakers refer to a wireless audio device used for streaming audio content. They receive digital audio via Bluetooth wireless transmission, amplify and convert it into high-quality sound. They can be easily connected with other Bluetooth-enabled devices like smartphones, laptops and tablets. Unlike conventional speakers, Bluetooth speakers offer numerous advantages, including minimal space requirement, optimum functionality and durability, excellent compatibility, low maintenance, and convenience for outdoor applications. As a result, both portable and fixed Bluetooth speakers have gained traction across the globe.

Global Bluetooth Speaker Market Trends:

The excellent compatibility of Bluetooth speakers with other consumer electronic devices represents the primary factor driving the market growth. Additionally, several product innovations and shifting consumer preferences toward lightweight, portable and compact speakers over traditional wired speakers have escalated the product demand. Besides this, the growing usage of audio and video streaming platforms and increasing penetration of smartphones, high-speed internet, and the internet of things (IoT)-based devices have catalyzed market growth. Furthermore, the development of AI-based devices, such as Alexa and Echo, and the integration of Bluetooth speakers with in-vehicle infotainment systems, home theatres, voice control systems and hands-free calling are other major growth-inducing factors. Apart from this, the emergence of smart homes and rapid adoption of smart devices due to elevating incomes and improving lifestyles have augmented the product demand. Moreover, several key players are making heavy investments in research and development (R&D) activities to develop technologically advanced products, such as Bluetooth speakers.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Car Rental Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The report has segmented the global bluetooth speaker market on the basis of portability, type, price, distribution channel and region.

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Key Highlights of the Report:

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