Wireless Speakers Market

GMI Research analysis indicates that the Wireless Speaker Market is slated to register a double digit CAGR of 18.5% over the period, 2022-2029.

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Key Drivers

Factors driving growth of the Wireless Speakers Market includes increasing penetration of smartphone and tablets around the world, launch of voice enabled systems in home automation systems, rising deployment of 5G networks, development of smart homes and improvements in the living standards. The number of smartphone subscriptions worldwide was estimated around 6.25 billion in 2021 and is expected to reach 7.6 billion by the end of 2027, which will accelerate the Wireless Speaker Market share in the coming years. In addition, Wireless speakers are lightweight, possess good battery life, offers aesthetic appeal, easy to carry, and provides high-quality listening experience to customers, which are expected to generate tremendous opportunities in the market. The increasing adoption of advanced technologies such as Machine Learning (ML), and Internet of Things (IoT), growing popularity of portable speakers, and rise in the subscription of online music and video streaming platforms, are some of the additional factors supplementing the Wireless Speaker Market size. Increasing demand for wireless speakers across industries such as teaching, entertainment, hospitality, and home entertainment, rising focus of companies on launching products enabled with voice assistant technologies and AI-assisted devices, and rapid urbanization, are further pushing the market growth. Companies like Google Home Max, Amazon Echo Dot 3rd Gen, and JBL Link 10, are offering AI-enabled wireless speakers which are enabled with voice recognition solutions and stores data on cloud, enables quick access to data, which is further supporting the market growth. On the other hand, the increasing concerns for the data privacy, rising incidences of hacking and limited connectivity range, are expected to restrict the market growth.

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Connectivity Type: Segment Analysis

Based on the connectivity type, that market is segmented into Bluetooth speakers and Wi-Fi speakers. The Bluetooth speaker segment is expected to witness a faster CAGR during the forecast period attributed to increasing penetration of smartphone and tablets. Bluetooth speakers comes in different shapes and sizes, can be connected to devices such as cell phones, and laptops, and are water resistant, are some of the features propelling market growth.

Price Range: Segmentation Analysis

Based on the price range, the market has been segmented into low-end, mid-range, and premium. The low-end segment is expected to witness a higher CAGR during the forecast period attributed to its cost-effective features.

Distribution Channel: Segmentation Analysis

Based on the distribution channel, the market is segmented into Online, Electronic Stores, and Others. The electronic stores offer wide range of wireless speakers, at attractive discount and provides personalized experience to customers, are some of the factors pushing growth of the segment.
On the other hand, Online segment is anticipated to grow at a higher CAGR during the forecast period because it offers multiple payment options to customers such as debit card, credit card and cash on delivery, provides convenience in shopping, free home delivery, and are open 24*7, are some of the features propelling segment’s growth.

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Regional Analysis

Based on region, North American region is anticipated to lead the market during the forecast period. The growing demand for wireless speakers in the residential sector, presence of the leading players such as Amazon.com, Inc., Apple Inc., and Bose Corporation, rise in the number of smart homes across Untied States, and increasing smartphone penetration rates, are some of the factors pushing the market growth in North America.

On the contrary, Asia-Pacific region is expected to witness a higher CAGR over the forecast period. Technological advancements in wireless speakers in countries, Government policies promoting the manufacturing of consumer electronics such as smartphones and laptops, rapid urbanization growing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.

Top Market Players

Various notable players operating in the global Wireless Speakers Market include 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., and Altec Lansing Technologies, Inc. among others.

Key Developments: 

• • In 2019, Sonos, Inc. launched a portable Bluetooth speaker, Sonos Move that has capacitive touch controls and inbuilt voice assistant capability. In addition to this, the Bluetooth connectivity can be used for controlling the music from streaming services on Phone, Tablet, or Personal computer.
  • In 2019, Sony Corporation announced the launch of a range of EXTRA BASS wireless speakers that includes SRS-XB12, SRS-XB22 and SRS-XB32 portable speakers and an outdoor party speaker, the GTK-PG10. The SRS-XB22 and SRS-XB32 have dual passive radiators that work together with stereo full-range speakers to enhance low-end tones and give the bass a boost, despite the compact size. The XB12 uses a single passive radiator to achieve a similar effect. Multiple XB72 speakers can be connected using Wireless Party Chain via Bluetooth. These speakers are resistant to water and dust and available in a wide range of colors for the customers.
  • In 2019, JBL, a subsidiary of Samsung Electronics Co., Ltd. announced the launch of Pulse 4, a speaker with 360-degree sound and a light show that uses high-resolution LEDs to create a party mood with music and light. Using the JBL Connect app, the users can choose the light settings of the Pulse 4 and two smartphones or tablets can be connected via Bluetooth at the same time.
  • In July 2022, Amazon’s (AMZN) signed on two memoranda of understanding (MoUs) with the government of Uttar Pradesh enterprise Micro, Small & Medium Enterprises (MSMEs) and Export Promotion, to expand its presence in the Indian market.
  • In 2012, Logitech International SA, unveiled the launch of announced the expansion of its Mac(R) lineup with two new products: the Logitech(R) Bluetooth(R) Easy-Switch (TM) Keyboard for Mac(R), iPad(R) and iPhone(R) and the Logitech(R) Rechargeable Trackpad for Mac.

Segments covered in the Report:

The global wireless speakers market has been segmented on the basis of connectivity type, price range, end-user, distribution channel, and key regions. Based on connectivity type, the market is segmented into Bluetooth speakers and Wi-Fi speakers. The Bluetooth speakers segment is further divided into traditional Bluetooth speakers, waterproof Bluetooth speakers, rugged Bluetooth speakers and Wi-Fi speakers segment is further divided into Wi-Fi only speakers, hybrid speakers, smart speakers, non-smart speakers, single room speakers, and multi-room speakers. On the basis of price range, the market has been segmented into low-end, mid-range, and premium. On the basis of end-user, the market is segmented into residential and commercial. On the basis of distribution channel, the market is segmented into Online, Electronic Stores and Others.

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Key questions answered in this research report:

• • At what pace is global Wireless Speakers Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Wireless Speakers Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Wireless Speakers Market?
  • Which connectivity type generated maximum revenues in 2021 and identify the most promising connectivity type during the forecast period?
  • What are the various end-user of global Wireless Speakers Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD Billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD billion)
Market Segment	By Connectivity Type, By Price range, By End-User, By Distribution Channel, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	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, among others; a total of 15 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Wireless Speakers Market by Connectivity Type

• • Bluetooth Speakers
  • Wi-Fi Speakers

Global Wireless Speakers Market by Price Range

• • Low-End
  • Mid-Range
  • Premium

Global Wireless Speakers Market by End-User

• • Residential
  • Commercial

Global Wireless Speakers Market by Distribution Channel

• • Online
  • Electronic Stores
  • Others

Global Wireless Speakers Market by Region

• • North America Wireless Speakers Market (Option 1: As a part of the free 25% customization)
    • By Connectivity Type
    • By Price Range
    • By End-User
    • By Distribution Channel
    • US Market All-Up
    • Canada Market All-Up
  • Europe Wireless Speakers Market (Option 2: As a part of the free 25% customization)
    • By Connectivity Type
    • By Price Range
    • By End-User
    • By Distribution Channel
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Wireless Speakers Market (Option 3: As a part of the free 25% customization)
    • By Connectivity Type
    • By Price Range
    • By End-User
    • By Distribution Channel
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Wireless Speakers Market (Option 4: As a part of the free 25% customization)
    • By Connectivity Type
    • By Price Range
    • By End-User
    • By Distribution Channel
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Wireless Speakers Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

 • 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.