Overview and Scope
A wireless speaker is defined as electrical equipment that receives sound signals in the form of radio frequency waves and amplifies the sound.
Sizing and Forecast
The wireless speakers market size has grown exponentially in recent years. It will grow from $30.43 billion in 2023 to $37.69 billion in 2024 at a compound annual growth rate (CAGR) of 23.9%. The growth in the historic period can be attributed to rising demand for portable audio solutions, growing connectivity needs, increasing disposable income, lifestyle changes, social trends and gatherings.
The wireless speakers market size is expected to see exponential growth in the next few years. It will grow to $90.65 billion in 2028 at a compound annual growth rate (CAGR) of 24.5%. The growth in the forecast period can be attributed to rising smart home integration, rising popularity of outdoor activities, innovations in design and aesthetics, environmental consciousness, changing content consumption patterns. Major trends in the forecast period include enhanced battery life, gesture and touch controls, innovations in portability, customizable sound profiles, collaborations with high-end brands.
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Segmentation & Regional Insights
The wireless speakers market covered in this report is segmented –
1) By Product: Bluetooth Speakers, Wifi-Speakers
2) By Type: Fixed, Portable
3) By End User: Residential, Commercial
Asia-Pacific was the largest region in the Wireless Speakers market in 2023. The regions covered in the wireless speakers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in preference for portable speakers is an important driver for the wireless speakers market. This is mainly because wireless speakers come at affordable prices and are convenient to use. In addition, increasing smartphone penetration has led to an increase in preference for swift functionality in the form of smart portable devices, resulting in the further use of the portable wireless speaker. According to the report published by Comscore, Inc., a US-based media measurement and analytics company, nearly 50% of internet users owned at least one smart speaker in 2021, marking the highest level of smart speaker ownership.
Key Industry Players
Major companies operating in the wireless speakers market report are Apple Inc., Alphabet, Samsung Electronics Co. Ltd, Panasonic Corporation., Telefónica, Xiaomi, Sharp Corporation, Koninklijke Philips N.V., Harman International Industries, Logitech International, YAMAHA Corporation, Bose Corporation, DOSS, LG Electronics India Private Limited, Sonos Inc, Plantronics, Sony India Pvt. Ltd, VOXX Electronics Corp, Sennheiser electronic GmbH & Co. KG., Altec Lansing, Skullcandy, Beats Electronics LLC., Creative Technology Ltd, Best IT World (India) Pvt. Ltd, Braven, Polk Audio, Avnera, James Bullough Lansing, Paionia Kabushiki-gaisha., Logitech International S.A., Bang & Olufsen Group, Sound United LLC, Marshall Amplification, GP Acoustics International Ltd., Vizio Inc., Anker Innovations Co. Ltd, Libratone A/S, Devialet SAS., Klipsch Audio Technologies
The wireless speakers market report table of contents includes:
1. Executive Summary
2. Wireless Speakers Market Characteristics
3. Wireless Speakers Market Trends And Strategies
4. Wireless Speakers Market – Macro Economic Scenario
5. Global Wireless Speakers Market Size and Growth
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32. Global Wireless Speakers Market Competitive Benchmarking
33. Global Wireless Speakers Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Wireless Speakers Market
35. Wireless Speakers Market Future Outlook and Potential Analysis
36. Appendix
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