Pune, India -- (SBWIRE) -- 12/25/2018 -- This market research report on global Bluetooth Speaker market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product (traditional speaker, waterproof speaker, and rugged speaker), by price range (low-end, mid-range, and premium), by end-user type (residential users and commercial users), by portability (fixed and portable), and by geography (APAC, Europe, North America, Latin America, and MEA).

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The major vendors in the global market are:
1. Bose
2. HARMAN International (Samsung)
3. BEATS Electronics (Apple)
4. Sony

The exponential growth of the music industry and the increasing number of music streaming servicessuch as Apple Music, Pandora, and Spotify is propelling the growth of the global bluetooth speaker market. These wireless speakershave the ability to offer high definition music at the varied range. The increasing focus on the development of low power mode, HD data streaming, and improvement in the range is boosting the adoption of bluetooth technology in the global market.

The bluetooth wireless standard available in the market enables secure and convenient connectivity of electronic devices and services. The upgrades in connectivity solutions due to the innovations in bluetooth mesh networkingtechnology and rapid advancements will transform the global market over the next few years.

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The increasing use of these devices across the US and Western European countries and launch of new product models will create lucrative opportunities for leading vendors in the global market. The increasing focus on product innovations that led to the introduction of waterproof models and rugged devices will drive the growth of the bluetooth speaker market. The growing penetration of wireless home audio devices and a shorter repurchase cycle leading to technological disruptions in the market will boost the demand for these products.

The development of the residential sector and rise in awareness about these devices in emerging countries in APAC and other regions will help players expand their businesses in these countries. The integration of latest Bluetooth technology, innovative waterproof and rugged models, and enhanced marketing and visibility of these products online will have a positive impact on the overall growth of the global market. The global Bluetooth speaker market is projected to generate revenues of more than $8 billion by 2023, growing at a CAGR of over 10% during 2018-2023. The report provides market share both in terms of revenue and unit shipment values.

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The portability segment in the global Bluetooth speaker market is classified into fixed and portable speakers. Portable speakers dominated the around 3/4th market share in 2017, growing at a CAGR of approximately 11% during the forecast period. Portable speakers can be carried anywhere, and these units are designed in such as way that the devices are AC powered or AC/DC powered in nature. Most of the speakers are available in the market are portable, and these devices offer the ease-of-convenience with respect to placement of speakers. These speakers come in very handy while traveling thereby, driving the demand for these products in the global market. The focus on developing and launching new models will help vendors generate higher revenues in the global Bluetooth speaker market during the forecast period.

The key countries profiled in the report are:
1. US
2. Canada
3. UK
4. Germany
5. France
6. Australia
7. Japan
8. China
9. South Korea

Other prominent vendors include Altec Lansing, ANKER Innovations, Artis, AOMAIS, Axess, Bang & Olufsen, Boat Lifestyle, Braven, Creative Technology, DOSS, D&M Holdings (Denon), Edifier, Forcovr (Shenzhen Guowei Security), The House of Marley, iBall, iClever, ION Audio, JAM Audio, JONTER, KitSound by Kondor, Klipsch Group, Koninklijke Philips, Lenovo, LG Electronics, Logitech, Micromax, Monster Cable Products, Mpow, Onkyo & Pioneer, Panasonic, Photive, Plantronics, Rock Space (RENQING TECHNOLOGY), Samsung Electronics, SHARKK, Sharp, Skullcandy, SoundBot, Supersonic, TAGG, TIBO, Tribitaudio, VicTsing, Yamaha, and Zebronics.

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Key market insights include:

1. The analysis of global Bluetooth speaker market provides market size and growth rate for the forecast period 2018-2023.

2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global Bluetooth speaker market.

3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.

4. It offers a complete overview of market segments and the regional outlook of global Bluetooth speaker market.

5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

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