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Wireless Speakers Industry Grows With Increase In Preference For Portable Products

Wireless Speakers Market Report 2021: COVID-19 Growth And Change To 2030

Wireless Speakers Global Market Report 2021: COVID-19 Growth And Change To 2030

The Business Research Company’s Wireless Speakers Global Market Report 2021: COVID-19 Growth And Change To 2030

LONDON, GREATER LONDON, UK, April 21, 2021 / -- Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact:

The increase in preference for portable speakers is an important driver for the wireless speakers market. This is mainly because wireless speakers come at affordable prices and are convenient to use. In addition, increasing smartphone penetration has led to an increase in preference for swift functionality in the form of smart portable devices, resulting in further use of portable wireless speakers. According to a report published by Deloitte, smart speakers — internet-connected speakers with integrated digital voice assistants — were the fastest-growing connected device category worldwide in 2019. The report showed that the sales of smart speakers increased from 98 million units for a total industry revenue of US$4.3 billion in 2018 to 164 million units for a total industry revenue of US$7 billion in 2019.

The wireless speakers market consists of sales of wireless speakers such as Bluetooth speakers and Wi-Fi speakers and related services. Wireless speakers receive sound signals in the form of radio frequency waves and amplify the sound. Major players in the wireless speakers market are Beats Electronics, Bose, Harman, Samsung and Sony.

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The global wireless speakers market size is expected to grow from $15.03 billion in 2020 to $17.53 billion in 2021 at a compound annual growth rate (CAGR) of 16.6%. According to wireless and Bluetooth speakers market analysis, the growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The wireless speaker market is expected to reach $32.71 billion in 2025 at a CAGR of 16.9%.

The wireless speakers market covered in this report is segmented by product into Bluetooth speakers, Wi-Fi speakers. It is also segmented by end user into residential, commercial and by type into fixed, portable.

Wireless Speakers Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides wireless speakers market overview, forecast wireless speakers market size and growth for the whole market, wireless speakers market segments, and geographies, wireless speakers market trends, wireless speakers market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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