Bluetooth and Smart Speakers Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions, and By Key Players: Samsung (Harman, JBL etc brands), Bose, Sony, Apple (Beats), Poineer, Sennheiser

Registering a CAGR of 21.2% over the forecast period, the market value of Bluetooth and Smart Speakers is expected to reach US$ 34,400 million in the year 2027.

Bluetooth and Smart Speakers Market Overview

Bluetooth and smart speakers have gained popularity in recent years as smart homes have grown in popularity. They support voice commands for communication and are Wi-Fi enabled. They also serve as a command-and-control hub for smart home devices. The rising demand for speaker systems in residential applications is expected to boost product demand in the near future. The proliferation of smart home products, the advancement of artificial technology, and the expansion of display-based devices are just a few of the major factors expected to create market opportunities for key players. Also, key market players are focusing on expanding their business units across the globe.

Artificial intelligence (AI) integrated chipsets used in smart speakers provide voice control, audio quality, and increased battery life. Furthermore, voice recognition technologies and natural processing language (NPL) are allowing speakers to better understand voice commands. For example, Baidu's AI expertise gives it significant advantages in developing conversational capabilities and voice assistant speakers that use natural processing language.

Smart home devices, such as smart kitchen appliances, security cameras, smart locks, smart lights, thermostats, and smart TVs, are becoming more popular among consumers. Furthermore, this type of speaker serves as a single point of contact and control hub for all smart devices, allowing them to be easily operated and controlled remotely. For example, Xiaomi is attempting to develop an Artificial Intelligence of Things (AIoT) system that will use a speaker as a control hub to connect its other IoT products. Furthermore, Xiaomi's AIoT platform is connected to nearly 324 million devices. The increasing popularity of display devices is assisting in the market's expansion. Due to evolving use cases such as social networking, watching online content, and video call features, market leaders are increasingly shifting to display-based devices.

The report aspects discussed the profile of the top manufacturers of the global Bluetooth and Smart Speakers market. These aspects include the financial status of major companies, trending advancements, and the entire market scenario. Growth of the report has examined Bluetooth and Smart Speakers Market production, demand and growth potential, geographic analysis, as well as current market developments in various regions and countries.

Who are the Major Players in the Bluetooth and Smart Speakers Market?

The global Bluetooth and Smart Speakers includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include Samsung (Harman, JBL etc brands), Bose, Sony, Apple (Beats), Poineer, Sennheiser, Voxx (Audiovox Corporation), Yamaha, Sonos, Logitech, Panasonic, Philips, Klipsch, Altec Lansing, Skullcandy, LG, Bowers & Wilkins, Creative, Anker, Doss, Edifier, Amazon, Google, Tmall Genie, Baidu, Xiaomi, Hivi, Avlight, Qisheng and others.

Industry News and Updates:

Amazon Launches 8 New Echo Devices

In September 2019, Amazon has introduced a new line of Alexa-enabled Echo devices, including the all-new Echo Show 8, Echo Dot with clock, Echo, and Echo Flex. In addition, the newly released devices offer a three-dimensional audio experience with Dolby Atmos.

What are the major Applications, Types, and Regions for the Bluetooth and Smart Speakers Market?

The market is segmented based on the type, applications, companies, and regions.

By Type, it is segmented into

• Bluetooth Speakers


• Smart Speakers

By Application, it is segmented into

• Exclusive Stores


• Retail Stores


• Online Stores

Bluetooth and Smart Speakers Market Regional Analysis

Because of early adoption of advanced technologies and a robust economic landscape, North America has seen rapid growth in Bluetooth and Smart Speakers. The presence of key speaker providers accounts for the region's speaker penetration. Customers' willingness to use and accept new technology has also encouraged key North American providers to develop advanced and novel products. Furthermore, according to the Smart Speaker Consumer Adoption report, the number of speakers per user increased by 10% from 1.8 in 2018 to 2.0 in 2019.

Furthermore, the report claims that there were approximately 133 million Bluetooth and Smart Speakers in the United States in 2019, with 60% of users identifying themselves as daily users. Furthermore, because the major market players, such as Amazon Web Services, Apple Inc., and Bose, are based in the United States, the products are shipped and launched in the region first. These key factors are propelling the market forward. Furthermore, according to the Smart Speaker Consumer Adoption report, the United States had the highest smart speaker penetration rate in 2019 at 26%.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Bluetooth and Smart Speakers Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Bluetooth and Smart Speakers Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Bluetooth and Smart Speakers Market report scope?

Scope of the Report covers Bluetooth and Smart Speakers Market with a detailed analysis of the overall scenario for the market. It also highlights the business participants’ environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background, and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Bluetooth and Smart Speakers Market analysis report as it has vital details to provide about regional markets and expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how the worldwide market is working through efficient information graphics.

Key Takeaways from this Bluetooth and Smart Speakers Report

• Evaluate Bluetooth and Smart Speakers market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, end-use applications, and different industries verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.


• Get in-depth insights on your competitor’s performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies to your processes.


• Get a quick outlook on the Bluetooth and Smart Speakers market entropy – M&As, deals, partnerships, and product launches of all key players for the past 5 years.


• Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.

Frequently Asked Questions

What is the study period of this market?

The Bluetooth and Smart Speakers Market is studied from 2017 - 2027.

What is the growth rate of the Bluetooth and Smart Speakers Market?

The Bluetooth and Smart Speakers Market is growing at a CAGR of 21.2% over the next 5 years.

Who are the key players in Bluetooth and Smart Speakers Market?

Samsung (Harman, JBL etc brands), Bose, Sony, Apple (Beats), Poineer, Sennheiser, Voxx (Audiovox Corporation), Yamaha, Sonos, Logitech, Panasonic, Philips, Klipsch, Altec Lansing, Skullcandy, LG, Bowers & Wilkins, Creative, Anker, Doss, Edifier, Amazon, Google, Tmall Genie, Baidu, Xiaomi, Hivi, Avlight, Qisheng

What regions does this Bluetooth and Smart Speakers Market report cover?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of Bluetooth and Smart Speakers Market?

Bluetooth Speakers, Smart Speakers

What are the major end-use applications of Bluetooth and Smart Speakers Market?

Exclusive Stores, Retail Stores, Online Stores

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