The Business Research Company’s Wireless
Speakers Market covers market characteristics, size and growth,
segmentation, regional and country breakdowns, competitive landscape, market
shares, trends and strategies for this market.
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 market are Beats Electronics, Bose, Harman, Samsung
and Sony.
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 in December 2018, smart
speakers—internet-connected speakers with integrated digital voice
assistants—are 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 interference of signals of
wireless speakers with other devices is a major restraint for the wireless
speakers market. This is mainly because many wireless devices work on the same
radio waves and frequencies as wireless speakers, which increases chances of signal
disruption and drop in sound quality. Dropped signals can affect either the
transmitter or the receiver of wireless speakers which affects the listening
experience of users. As a result, companies in the wireless speakers market are
focusing on ways to implement exclusive connectivity with only a particular
device to avoid signal interference, which is increasing the cost of the
devices. For example, Apple offers the Airplay speakers that utilize Apple's
proprietary wireless multimedia technology and connects only to Apple devices
or iTunes, which increases the price of the speaker. However, other vendors
have not produced such speakers as their prices tend to be high.
Advanced technologies such as
AI-assisted devices are an emerging trend in the wireless speakers market. This
is mainly due to ease of use of AI-enabled wireless speakers that provide
features such as voice recognition, allowing users to control the functioning
of the speakers using voice commands.
North America was the largest
region in the wireless speakers market in 2018. This region is expected to
remain the largest during the next five years. The wireless speakers market in
Asia Pacific is forecasted to register the highest CAGR during 2018-2023.
View complete Report: https://www.thebusinessresearchcompany.com/report/wireless-speakers-global-market-report
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