This study of the market provides an overview of the existing market trends, drivers, restrictions, and metrics and also offers a viewpoint for important segments. The report also tracks product and services demand growth forecasts for the industry. The report mentions growth parameters in the regional markets along with major players dominating the regional growth.
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The report offers detailed profile and data information analysis of the leading companies in the Wireless Speakers Market:
- Bose Corporation
- Samsung Electronics Co., Ltd.
- Sony Corporation
- Amazon.com, Inc.
- Sonos Inc.
- Koninklijke Philips N.V.
- Apple Inc.
- Logitech International S.A.
- Yamaha Corporation
- Sennheiser Electronic GmbH & Co. KG
- Panasonic Corporation
- Pioneer Electronics Inc.
- Bang & Olufsen A/S
- LG Electronics Inc.
- Altec Lansing Technologies, Inc.
The key drivers of the Wireless Speakers Market are as follows:
The high-quality listening experience of customers without using any wires and the capability of wireless speakers to easily connect to a large range of other devices such as tablets, mobiles, televisions, PCs, and others are some of the major factors fuelling the growth of the global wireless speakers market. Moreover, the wireless speakers offers various exceptional features include lightweight feature, good battery life, and aesthetic appeal, which are further driving the market growth.
The increasing adoption of smartphones and tablets is projected to boost the growth of the wireless speakers market as they can be connected easily through an application to smartphones. The wireless speakers can also play audio files on tablets, mobiles and stream podcasts over the internet. In addition to this, the rising adoption of networking technologies for connectivity, including Bluetooth and Wi-Fi to connect to smartphones, PCs, tablets, and other, is fuelling the growth of the wireless speakers market.
Growing adoption of wireless connectivity technology has led to increasing penetration of wireless speakers in several industry verticals such as entertainment, teaching, hospitality, home entertainment, clubs, sports, and others. The rising popularity of the in-home entertainment system, smart homes, and the internet of things bolstered the growth of the wireless speakers market. The rising demand for innovative audio equipment promotes the leading organizations to introduce new products such as wireless speakers with voice assistant technology and AI-assisted devices. This factor encourages the wireless speaker manufacturers to develop advanced speakers to capture the highest share in the market. In addition to this, the deployment of 4G and 5G networks and the growing rate of data usage among customers support the usage of wireless communication between electronic devices, thus, growing the adoption of the wireless speaker market in the upcoming years.
The rising adoption of advanced technologies such as AI-assisted devices is one of the major factors accelerating the growth of the wireless speakers market. AI-enabled wireless speaker such as Google Home Max, JBL Link 10, and Amazon Echo Dot 3rd Gen, among others, provides various features such as voice recognition, storage of data on the cloud that allows quick access to the data. This factor is projected to propel the growth of the market. On the other edge of the spectrum, the rising concerns for data privacy, growing incidences of hacking, restricted connectivity range, and recent emergence of the COVID-19 pandemic are factors hindering the growth of the global wireless speakers market.
The study objectives of this report are:
- To study and forecast the size of the market.
- To analyze the key players, SWOT analysis, value, and market share for the leading players.
- To define, describe, and forecast the market by different segments.
- To analyze the market potential and advantage, opportunity and challenge, restraints and risks.
Segmentation of the Wireless Speakers Market:
Breakup by Connectivity Type:
- Bluetooth Speakers
- Wi-Fi Speakers
Breakup by Price Range:
Breakup by End-User:
Breakup by Distribution Channel:
- Electronic Stores
Breakup by Region:
- North America
o United States of America
- Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
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