"Top Companies in Bluetooth Speakers Market are Bose Corporation, Harman International Industries Inc., Sony Corporation, LG Electronics, CAMBRIDGE AUDIO com Inc., Anker Technology (UK) Ltd., DOSS Audio, Logitech, Beats Electronics LLC., The Samsung Group, Sound United LLC and others
The global Bluetooth speakers market size is anticipated to inflate on account of increasing festival celebration popularity is probable to offer relaxation in the demand for the bass sound system-grounded speakers across the world. This information is provided by Fortune Business Insights™, in its report, titled, “Bluetooth Speakers Market, 2022-2029.”
Further, augmented implementation of wireless electronic devices by customers has given a rise to the demand for such goods. These days, consumers are witnessed to be extensively using multi-coloured Bluetooth speakers in their halls and living rooms for decoration intentions.
Additionally, interactive Bluetooth speakers that require internet connection such as Amazon Alexa, among others are surging in terms of popularity as customers can promptly get their queries answered without any necessity to surf the web browser.
COVID-19 Impact: Remote Work Edition Set to Stimulate Product Demand
The indeterminate incidence of the COVID-19 outbreak has given birth to the demand for the distant style of working among corporate workers. This has elevated demands of the professionals for several types of home-situated job station gadgets such as speakers, headphones, music players, and laptops among others.
For example, in August 2020, Goldmedal Electricals Pvt. Ltd., which is an Indian electrical accessory manufacturer introduced an advanced Bluetooth speaker, named I-sense FM Bluetooth Music Player (3M) in order to satisfy the work load of the professional from remote work style and fulfil speakers demand.
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List of Key Players Covered in the Bluetooth Speakers Market Report
- Bose Corporation
- Harman International Industries Inc.
- Sony Corporation
- LG Electronics
- CAMBRIDGE AUDIO
- com Inc.
- Anker Technology (UK) Ltd.
- DOSS Audio
- Beats Electronics LLC.
- The Samsung Group
- Sound United LLC.
We provide our reports which are conducted with an all-inclusive examination approach that majorly emphasizes on delivering precise material. Our scholars have applied a data triangulation method which further assists us to offer trustworthy estimations and test the general market dynamics accurately. Further, our analysts have received admission to numerous international as well as regional funded registers for providing the up-to-date material so that the stakeholders and business professionals invest only in essential zones.
Drivers and Restraints
Increasing Demand for Smart Home Devices to Gain Momentum in Market
Surging demand for smart home gadgets such as interactive Bluetooth speakers and accessories among other devices in the greater income class of the global populace is projected to fuel the growth of the market. As per the data record issued by the National Council for Home Safety and Security, in February 2020, roughly about 47% of the U.S. millennial population desired to purchase smart home gadgets.
Additionally, the rising admiration of online streaming platforms has further contributed to the growth of the market. Also, increasing outdoor activities such as hiking, picnic, and others are further powering the demand for potable and handy speakers. This in turn is expected to flourish the Bluetooth speakers market growth during the forecast period.
North America is anticipated to hold the maximum Bluetooth speakers market shares. Moreover, this region is accredited to the increasing expenditure for online music streaming platforms in the nations such as the United States and Mexico which is estimated to assist the requirement for the speakers in this region.
The rapid growth of the Asia Pacific region is credited to the growing smartphone permeation in nations such as India and China. This is further powering the demand for the product in the region.
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Based on category, the global Bluetooth speakers market is categorized into portable and fixed.
On the basis of applications, the market is segregated into residential and commercial.
In term of distribution channel, the global market is divided into specialty stores, online stores, and others.
Geographically, the global Bluetooth speaker market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Prominent Players by Their Effective Strategies Set to Conquer Global Market
Key players apply various proficient strategies in order to control the global market. Various tactics such as mergers, partnerships, For instance, in August 2020, Killer Concepts, which is an electric gadgets and devices supplier unveiled a product named ROCKsteady Stadium, which is a moveable, artificial intelligence-powered Bluetooth speaker where consumers can listen to the musical jingles with its original clarity.
June 2020: LG Electronics Inc. presented the XBOOM Go moveable speaker line-up along with its LG XBOOM Go PL series empowered with advanced audio technology of meridian in order to offer top quality sound speakers to the customers based in the U.S.
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