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United States Bluetooth Speaker Market Report 2018-2023: Increasing Influence of Internet in Shaping End-users' Purchasing BehaviorDUBLIN, Jan 7, 2019 /PRNewswire/ -- The "Bluetooth Speaker Market in US - Industry Outlook and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering. The US Bluetooth speaker market is expected to generate revenues of more than $3 billion by 2023, growing at CAGR of around 11% during 2018-2023. The report provides market share both in terms of revenue and unit shipment values. US Bluetooth Speaker Market - Overview The increasing growth of the music industry and the introduction of various streaming services such as Apple Music, Pandora, and Spotify is contributing to the revenues in the US Bluetooth speaker market. The rising adoption of subscription music services by end-users is augmenting the growth of the US market. The growing investment in the development of Bluetooth technology that helps vendors includes additional features such as low power mode, HD data streaming, and improvement in the range will boost the demand for these wireless speakers in the US market. The introduction of industry grade connectivity solutions, mesh networking technology, and rapid advancements are some of the primary factors attributing to the growth of US market. The growing preference of connected and smart devices led to the evolution of the market in the US. The leading vendors are leveraging technologies to launch innovative products that offer features such as waterproof and rugged devices to gain a larger US market share over the next few years. Additionally, the introduction of speakers with better integration with smartphones, innovative models, and sleek designs to give luxurious appeal will help in the development of the US Bluetooth speaker market. The recovery of the economy and increasing purchasing power will contribute to the increase in purchase and usage of electronic gadgets in the US market. The market is also witnessing a trend of using the devices in increasing number of connected homes and growing number of dual-income households in the US. US Bluetooth Speaker Market - Dynamics The rapid advancements in battery technology are propelling the development of the US Bluetooth speaker market. The integration of lithium-ion batteries will improve the performance of these speakers in the US market. The increasing R&D for alternative electrode materials to improve the cost, performance, and energy density of lithium-ion batteries will boost the adoption of this technology in the US market. The introduction of speakers that can run continuously up to 16 to 24 hours in a single charge will revolutionize the US market during the forecast period. The launch of gold nanowire batteries that are made up of gold nanowires in a gel electrolyte and tend to hold the original composition after multiple charge cycles will create new opportunities for top manufacturers operating in the US market. The increase in battery capacity is the primary focus of top vendors operating in the US Bluetooth speaker market. For instance, Sony SRS-XB40 Extra Bass portable wireless speaker can offer battery backup for up to 24 hours. Key Vendor Analysis The US Bluetooth speaker market is moderately concentrated, and the top playersoccupy more than 60% of the total market share. The increasing focus on continual innovations and upgrades will help companies sustain the intense competition in the US market. The rising infiltration of low-quality products from China will lead to occasional spurts of competition in the US market. The increase in product or service extensions, technological innovations, and M&A activities will intensify the competition in the US market during the forecast period. The players are also expanding their businesses and distributing networks to fast-developing states to gain a larger market share. The major vendors in the US market are:
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