TMCnet News
Bluetooth Speaker Market - Global Outlook and Forecast 2018-2023LONDON, Dec. 3, 2018 /PRNewswire/ -- 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). Bluetooth Speaker Market – By End-Users Smart homes to boost the growth of residential end-users segment the global Bluetooth speaker market during the forecast period The global Bluetooth speaker market by end-users is divided into residential users and commercial users. Residential end-users segment occupied the maximum market share in 2017, growing at a CAGR of more than 11% during the forecast period. This end-user segment consists of individuals who buy smart speakers for home use or for residential purposes. Smart home users are categorized under this segment. The new trend of the introduction of smart home applications and launch of connecting devices is primarily driving the growth of this segment in the global market. The majority number of consumers of these innovative devices are residential end-users in the market. These devices find application as home speakers in households and are used for music streaming via smartphones or PCs. Some households may have more than one speaker installed thereby, driving the demand in the global bluetooth speaker market. Bluetooth Speaker Market – By Distribution Channel Specialty stores promote the growth of the retail channels in the global Bluetooth speaker market share during the forecast period The distribution channel in the global Bluetooth speaker market is categorized into retail and online channels. The retail segment dominated more than half of the market share in 2017, growing at a CAGR of approximately 10% during the forecast period. The rising number of specialty and electronic stores that specializes in selling these products is driving the growth of the retail segment in the global market. The leading vendors operating in the specialty segment consists of Bose Stores, Harman Lifestyle Showrooms, and Mi stores. These distribution channels are designed to offer easy accessibility and satisfy the customer's immediate requirements. The staff in retail chains help educate customers about the new products launched and help them in the selection of these devices. The availability of focused consumer service will drive the growth of this segment in the global Bluetooth speaker market. Bluetooth Speaker Market – By Geography Adoption of smart devices in North America to boost sales in the global Bluetooth speaker market share during the forecast period The global Bluetooth speaker market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. North America led the market share in 2017, growing at CAGR of around 11% during the forecast period. The increasing adoption of connected homes and smart devices is one of the primary factors attributing to the growth of North America in this market. US and Canada are the largest revenues generators in the North American market. The latest trend of on-demand streaming, rise in the number of smartphone users, and availability of high-speed internet connectivity are some of the factors helping in the development of the market in North America. Some of the leading music streaming applications popular in North America are Pandora, Shazam, Spotify, iHeartRadio, Slacker Radio, and Soundcloud. The presence of a larger digital generation is augmenting the growth of North America in the global Bluetooth speaker market. Key Countries Profiled The key countries profiled in the report are: • US • Canada • UK • Germany • France • Australia • Japan • China • South Korea Key Vendor Analysis The global Bluetooth speaker market is moderately concentrated, and the leading players occupy more than 40% of market share. The key players are focusing on altering and refining their unique value proposition to sustain the competition in the global market. The top companies in the global market are competing on the basis of product or service extensions, technological innovations, and M&A activities. The development of innovative technology and regular product upgrades will allow vendors to gain a larger market share and gain new consumers. The increasing adoption of these products across US, China, South Korea, and the UK will encourage companies to expand their businesses in these regions in the global market. The focus on efficient production techniques that minimize production costs and mitigate associated risks will help players generate higher revenues in the global Bluetooth speaker market. The major vendors in the global market are: • Bose • HARMAN International (Samsung) • BEATS Electronics (Apple) • Sony 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. 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. Report Snapshot The global Bluetooth speaker market size is expected to generate revenues of over $8 billion by 2023, growing at an impressive CAGR of more than 10% 2018–2023. The global Bluetooth speaker market is driven by the high adoption by end-users in Europe, North America, and emerging APAC countries. The increasing number of dual-income households and spending on innovative devices will propel sales in the global market. The market research report provides in-depth market analysis and segmental analysis of the global Bluetooth speaker market by products, price range, end-users, portability, and geography. Base Year: 2017 Forecast Year: 2018–2023 The study considers the present scenario of the global Bluetooth speaker market and its market dynamics for the period 2018?2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market. Major Vendors in the Bluetooth Speaker Market • Bose o Business Overview o Bose in the Global Bluetooth Speaker Market o Major Product Offerings o Key Strategies o Key Strengths o Key Opportunities • HARMAN International (Samsung) • BEATS Electronics (Apple) • Sony Prominent Players in the Bluetooth Speaker Market • Altec Lansing o Overview • 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 • Zebronics Market Segmentation by Product Type • Traditional Speaker • Waterproof Speaker • Rugged Speaker Market Segmentation by Price Range • Low-end Range (< $50) • Medium Range ($51 - $200) • Premium Range (> $200) Market Segmentation by End-User Type • Residential End-users • Commercial End-users Market Segmentation by Portability • Fixed • Portable Market Segmentation by Distribution Channel • Retail • Online Market Segmentation by Geography • North America o US o Canada • Europe o UK o Germany o France • APAC o Australia o Japan o China o South Korea • Latin America • MEA Download the full report: https://www.reportbuyer.com/product/5442036 About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected] Tel: +1 (718) 213 4904 Website: www.reportbuyer.com View original content:http://www.prnewswire.com/news-releases/bluetooth-speaker-market---global-outlook-and-forecast-2018-2023-300759112.html SOURCE ReportBuyer |