Bluetooth speaker market size to grow by USD 6.93 billion from 2021 to 2026; Growth driven by increasing adoption of smart speakers - Technavio

NEW YORK, March 29, 2023 /PRNewswire/ -- The global Bluetooth speaker market size is estimated to grow by USD 6.93 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 8.39% during the forecast period. The market is driven by the increasing adoption of smart speakers. Smart speakers are backed with virtual assistants and can be controlled through voice to perform required actions. The smart assistants in these speakers are designed to deliver content related to weather forecasts, news, meeting updates, security alerts, and notifications related to household appliances. Such benefits and features have increased their demand among end-users. Their growing adoption has encouraged many vendors to develop new products. Many startups are also entering the market through crowdfunding strategies to manufacture smart speakers with the latest technologies. All these factors are driving the growth of the market. For more insights on the market size (2022 to 2026) - Request a sample report

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Global Bluetooth Speaker Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on the product (portable and fixed) and geography (North America, Europe, APAC, Middle East and Africa, and South America).

• The market growth in the portable Bluetooth speakers segment will be significant during the forecast period. The growth of the segment is mainly driven by the increased penetration of wireless speakers among tourists. The growing adoption of smart home devices and smart home automation and the emergence of voice assistants and smart wireless speakers are some of the other factors driving the growth of the segment.

Geography Overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global Bluetooth speaker market.

• North America will account for 29% of the market growth during the forecast period. The increasing popularity of music streaming services is the major factor driving the growth of the regional market. The increasing number of home renovation projects and the rising number of new residential buildings are other major factors supporting the growth of the Bluetooth speaker market in North America.

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Global Bluetooth Speaker Market – Vendor Analysis

The global Bluetooth speaker market is fragmented and relatively consolidated. Many established brands have begun to provide Bluetooth speakers with advanced features and designs. Their businesses have a global presence, with offices in at least three main geographic regions, including Asia, Europe, and North America. Local vendors have started to provide introduce products with equivalent characteristics at lower rates. These factors will intensify the competition in the market during the forecast period. Some of the key vendors covered in the report include:

• Altec Lansing Inc.
• Amazon.com Inc.
• Apple Inc.
• Artis
• Best IT World India Pvt. Ltd.
• Bose Corp.
• Imagine Marketing Pvt. Ltd.
• ION Audio
• Koninklijke Philips NV
• Lenovo Group Ltd.
• LG Electronics Inc.
• Logitech International SA
• Onkyo Corp.
• Panasonic Corp.
• Parra Shark
• Qualcomm Inc.
• Samsung Electronics Co. Ltd.
• Skullcandy Inc.
• Sony Group Corp.
• SoundBot
• Zebronics India Pvt. Ltd.

Global Bluetooth Speaker Market – Market Dynamics

Leading trends influencing growth

• The increasing popularity of voice commerce is the key trend in the market.
• The concept of voice commerce is gaining popularity among consumers.
• In this concept, voice is used as an alternative to using a keyboard and mouse or smartphone for ordering and purchasing products online.
• Bluetooth speakers with built-in virtual assistants take voice commands from users to search for products and place orders online.
• With voice commerce, online shopping becomes fast and convenient.
• Bluetooth speakers offer advantages such as hands-free operation and allow users to engage in other tasks while placing orders.
• This trend will positively influence the growth of the global Bluetooth speaker market during the forecast period.

Major challenges hindering growth

• The threat of piracy will challenge the growth of the market.
• Many pirated items are sold at relatively lower prices than original products.
• The availability of such products is higher in developing countries such as China and India. The proliferation of pirated products is creating a negative impact on the market growth.
• Also, smart speakers such as Bluetooth speakers are at high risk of cyber-attacks such as denial-of-service (DDoS) attacks, man-in-the-middle (MiTM) attacks, advanced persistent threats (APTs), and ransomware attacks.
• Hacked Bluetooth speakers can be used to disrupt networks of end-users.
• Many such challenges are reducing the growth potential in the market.

Drivers, trends, and challenges have an impact on market dynamics, which can impact
businesses. Find more insights in a sample report!

What are the key data covered in this Bluetooth speaker market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Bluetooth speaker market between 2022 and 2026
• Precise estimation of the size of the Bluetooth speaker market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Bluetooth speaker market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Bluetooth speaker market vendors

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Related Reports:

• The speakers market is estimated to grow at a CAGR of 30.5% between 2022 and 2027. The size of the market is forecast to increase by USD 115.46 billion. The market is segmented by product (stereo speakers and smart speakers), technology (wireless speakers and wired speakers), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
• The predicted growth of the portable speaker market size from 2021 to 2026 is USD 16.36 billion, at a progressing CAGR of 18.28%. The market is segmented by distribution channel (offline and online), technology (wireless and wired), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product

• 5.1 Market segments 
• Exhibit 24: Chart on Product - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Product - Market share 2021-2026 (%)

• 5.2 Comparison by Product 
• Exhibit 26: Chart on Comparison by Product
• Exhibit 27: Data Table on Comparison by Product

• 5.3 Portable - Market size and forecast 2021-2026
• Exhibit 28: Chart on Portable - Market size and forecast 2021-2026 ($ billion)
• Exhibit 29: Data Table on Portable - Market size and forecast 2021-2026 ($ billion)
• Exhibit 30: Chart on Portable - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Portable - Year-over-year growth 2021-2026 (%)

• 5.4 Fixed - Market size and forecast 2021-2026
• Exhibit 32: Chart on Fixed - Market size and forecast 2021-2026 ($ billion)
• Exhibit 33: Data Table on Fixed - Market size and forecast 2021-2026 ($ billion)
• Exhibit 34: Chart on Fixed - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Fixed - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Product 
• Exhibit 36: Market opportunity by Product ($ billion)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 38: Chart on Market share by geography 2021-2026 (%)
• Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 40: Chart on Geographic comparison
• Exhibit 41: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026
• Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
• Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
• Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 APAC - Market size and forecast 2021-2026
• Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
• Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
• Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.6 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
• Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
• Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.7 South America - Market size and forecast 2021-2026
• Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
• Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ billion)
• Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ billion)
• Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 UK - Market size and forecast 2021-2026
• Exhibit 66: Chart on UK - Market size and forecast 2021-2026 ($ billion)
• Exhibit 67: Data Table on UK - Market size and forecast 2021-2026 ($ billion)
• Exhibit 68: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.10 China - Market size and forecast 2021-2026 
• Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ billion)
• Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ billion)
• Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.11 Japan - Market size and forecast 2021-2026
• Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ billion)
• Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ billion)
• Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.12 France - Market size and forecast 2021-2026
• Exhibit 78: Chart on France - Market size and forecast 2021-2026 ($ billion)
• Exhibit 79: Data Table on France - Market size and forecast 2021-2026 ($ billion)
• Exhibit 80: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on France - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 82: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 83: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 85: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 86: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 87: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 88: Matrix on vendor position and classification

• 10.3 Amazon.com Inc. 
• Exhibit 89: Amazon.com Inc. - Overview
• Exhibit 90: Amazon.com Inc. - Business segments
• Exhibit 91: Amazon.com Inc. - Key news
• Exhibit 92: Amazon.com Inc. - Key offerings
• Exhibit 93: Amazon.com Inc. - Segment focus

• 10.4 Apple Inc. 
• Exhibit 94: Apple Inc. - Overview
• Exhibit 95: Apple Inc. - Business segments
• Exhibit 96: Apple Inc. - Key news
• Exhibit 97: Apple Inc. - Key offerings
• Exhibit 98: Apple Inc. - Segment focus

• 10.5 Best IT World India Pvt. Ltd. 
• Exhibit 99: Best IT World India Pvt. Ltd. - Overview
• Exhibit 100: Best IT World India Pvt. Ltd. - Product / Service
• Exhibit 101: Best IT World India Pvt. Ltd. - Key offerings

• 10.6 Bose Corp. 
• Exhibit 102: Bose Corp. - Overview
• Exhibit 103: Bose Corp. - Product / Service
• Exhibit 104: Bose Corp. - Key news
• Exhibit 105: Bose Corp. - Key offerings

• 10.7 Koninklijke Philips NV 
• Exhibit 106: Koninklijke Philips NV - Overview
• Exhibit 107: Koninklijke Philips NV - Business segments
• Exhibit 108: Koninklijke Philips NV - Key news
• Exhibit 109: Koninklijke Philips NV - Key offerings
• Exhibit 110: Koninklijke Philips NV - Segment focus

• 10.8 Lenovo Group Ltd. 
• Exhibit 111: Lenovo Group Ltd. - Overview
• Exhibit 112: Lenovo Group Ltd. - Business segments
• Exhibit 113: Lenovo Group Ltd. - Key offerings
• Exhibit 114: Lenovo Group Ltd. - Segment focus

• 10.9 LG Electronics Inc. 
• Exhibit 115: LG Electronics Inc. - Overview
• Exhibit 116: LG Electronics Inc. - Business segments
• Exhibit 117: LG Electronics Inc. - Key news
• Exhibit 118: LG Electronics Inc. - Key offerings
• Exhibit 119: LG Electronics Inc. - Segment focus

• 10.10 Logitech International SA 
• Exhibit 120: Logitech International SA - Overview
• Exhibit 121: Logitech International SA - Business segments
• Exhibit 122: Logitech International SA - Key news
• Exhibit 123: Logitech International SA - Key offerings
• Exhibit 124: Logitech International SA - Segment focus

• 10.11 Samsung Electronics Co. Ltd. 
• Exhibit 125: Samsung Electronics Co. Ltd. - Overview
• Exhibit 126: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 127: Samsung Electronics Co. Ltd. - Key news
• Exhibit 128: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 129: Samsung Electronics Co. Ltd. - Segment focus

• 10.12 Sony Group Corp. 
• Exhibit 130: Sony Group Corp. - Overview
• Exhibit 131: Sony Group Corp. - Business segments
• Exhibit 132: Sony Group Corp. - Key news
• Exhibit 133: Sony Group Corp. - Key offerings
• Exhibit 134: Sony Group Corp. - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 135: Inclusions checklist
• Exhibit 136: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 137: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 138: Research methodology
• Exhibit 139: Validation techniques employed for market sizing
• Exhibit 140: Information sources

• 11.5 List of abbreviations 
• Exhibit 141: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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