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The increase in access to stream music anywhere and anytime and availability of large storage space in mobile devices is driving the market demand.

NEW YORK CITY, NEW YORK, UNITED STATES, November 16, 2021 /EINPresswire.com/ -- The global Bluetooth Speakers Market is forecast to reach USD 3.13 Billion by 2027, according to a new report by Reports and Data. Bluetooth speakers have the ability to stream audio content wirelessly and take up minimal space, as compared to other home theater systems. These speakers run on batteries and are perfect for outdoor purposes. Another advantage is their hassle-free maintenance, good functionalities, and increased durability, which will propel the demand for the market. The growth in multi-room streaming trend and introduction of network audio devices which allow modern speakers to stream sound via Bluetooth is also driving the market demand.

Bluetooth is a wireless technology, which allows the connection of multiple electronic devices and facilitates their interaction. Bluetooth exchanges data over short distances using the short-wavelength UHF radio waves ranging from 2.400 to 2.485 GHz. Bluetooth speakers in cars provide the user with cellphone connectivity through the car’s infotainment system. Innovation in Bluetooth technology over the years have allowed for the hands-free calling, interfacing music frameworks, remote security controls for locking and opening the doors have boosted its demand in the automotive industry.

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According to Consumer Technology Association, in the United States, in 2019, almost 88% of the wireless speakers were Bluetooth-enabled technology, whereas 67% of them were Wi-Fi, and 62% were smart speakers. Moreover, the prominence of Bluetooth in the Chinese industry is driving the market as well. These Chinese consumers are partial to loud audio sounds without any distortions, long battery hours, and reasonable prices, which perfectly fit the bill of the Bluetooth speakers.

The COVID-19 impact:
The hit of the COVID-19 has led to a serious result in electronics and electrical products, disrupting the supply chain of the industry. The epidemic has reduced the purchase of consumer appliances, meanwhile reducing the delivery time as well. Limited availability of products, low labor supply, are challenging the market. As the lockdown ended, the industry is anticipated to witness higher consumer traffic, mostly through the online distribution channel.

Key participants include Harman International Industries Inc., Samsung Group, Bose Corporation, Apple Inc., VOXX Electronics Corp., Sony Corporation, Plantronics Inc., ULTIMATE EARS, Beats Electronics, and 4COM Technologies, among others.

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Further key findings from the report suggest
• Easy to mount, long life, and minimal effort are some of the essential factors propelling the automotive Bluetooth industry. The emergence of novel in-car smartphone features, self-driving vehicles, and vehicle diagnostics are some of the factors that will push the industry forward in the coming years.
• The increasing investment in smart vehicles and intelligent transportation will also boost the growth of the market. On the flip side, the slow data transfer rate, limited range, and inadequate security technology in Bluetooth are significant restraints on the market.
• The major advantage of this type of Bluetooth is its ease of listening to music and share the social experience. It enables people to listen to music anywhere and anytime. The majority of the speakers are small and lightweight, which adds to their advantage.
• The Asia Pacific held a significant share in 2019 with a valuation of over USD 0.28 billion, owing to its rapidly growing automobile sector, especially in emerging economies like China and India. These emerging economies being the major manufacturing hubs of the world, are also a base to the major players, which has benefited the automotive Bluetooth segment. Europe and North America are expected to show lucrative opportunities for growth during the forecast period.

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For the purpose of this report, Reports and Data have segmented the global Bluetooth Speakers Market on the basis of portability, application, distribution channel, and region:

Portability Outlook (Revenue, USD Billion; 2017-2027)
• Portable
• Fixed

Application Outlook (Revenue, USD Billion; 2017-2027)
• Residential
• Commercial

Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
• Online
• Offline

Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Bluetooth Speaker Market Segmentation & Impact Analysis
4.1. Bluetooth Speaker Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
Continued…

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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