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Global Wireless Speakers Market Share, Size, Trends, Report: By Product: Bluetooth Speakers, Wi-Fi Speakers, Smart Speakers; By End Use: Indoor, Outdoor; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Wireless Speakers Market Outlook
The global wireless speakers market size reached a value of more than USD 28.85 billion in 2023. The market is expected to grow at a CAGR of 24.10% between 2024 and 2032, reaching a value of 201.36 billion by 2032.
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Global Wireless Speakers Market Trends
Wireless speakers are a type of sound device that is connected wirelessly through the home network Bluetooth to the smartphone, tablet, or laptop. This allows the user to play music through a wide range of devices and removes the limitation of connectivity created by wired connections.
Rising Development of Smart Homes
Smart homes are increasing in prevalence in developed countries such as the United States, Canada, and United Kingdom, among others, and smart speakers are an important part of it. It allows the user to relay spoken commands and communicate with other devices, which is a key factor for the growth of the market.
Expanding Trend of Waterproof Speakers
Waterproof wireless speakers are increasingly being used by people for commercial use, at home, during travel, and for other applications. The rising demand has propelled market players to increase the development and distribution of these speakers, which can positively impact the growth of the market.
5G Network Expansion and Untapped Regions to Provide Growth Opportunities to the Wireless Speakers Market
Rapid Development in 5G Network
The market is rapidly developing to provide affordable 5G cellular network connections. The significant increase in the number of connected devices and the rate of data consumption has made wireless connectivity significantly common. This has propelled the development of wi-fi speakers with AI integration and voice assistants, such as Amazon Echo Dot and Google Nest Audio.
Development Opportunities in Untapped Regions
The wireless speaker market can develop extensively by providing its products and services at a lower price. Africa and Asia present the largest rural population and offer huge growth opportunities with the rising expansion of networks.
Piracy can Pose as a Major Challenge for the Wireless Speakers Market
There is a plethora of copies of original products available in the market but with an inferior build, sound quality, and durability. These products are distributed in significantly large margins, especially in developing nations, as they are available at a fraction of the original products' price.
Global Wireless Speaker Market Analysis
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Based on products, the market bifurcations include Bluetooth speakers, Wi-Fi speakers, and smart speakers. Based on the end-use, the market can be bifurcated into indoor and outdoor. The regional markets for the wireless speaker market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the wireless speakers market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global wireless speaker market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.
- Bose Corporation
- Harman International Industries, Incorporated
- Sony Group Corporation
- Apple, Inc.
- LG Electronics
- Sonos, Inc.
- Others
Products Available in the Wireless Speakers Market
Bluetooth speakers, wi-fi speakers, and smart speakers are the segments of products in the global market.
Bluetooth speakers are expected to hold a significant share of the market owing to the release of Bluetooth 5.3. It provides higher bandwidth while increasing the connection range and it has reduced the consumption rate and interference.
Smart speakers are expected to hold a dominant position in the market attributed to the rising 5G networks and an increasing number of connected devices. The market is expected to expand further with developed countries following the trend of smart homes and emerging nations' shift towards the adoption of smart homes.
End-Uses of the Wireless Speakers Market
Based on end-use, the market bifurcations include indoor and outdoor. The indoor market segment holds the largest market share, and the market is expected to go through extensive development due to the rising prevalence of smart speakers and wi-fi speakers, and the implementation of advanced AI to execute complex commands.
The outdoor segment is led by the Bluetooth speakers as products with better IP (Ingress Protection) ratings are released in the market.
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Competitive Landscape
Bose Corporation is an American manufacturing company that primarily deals manufacturing and selling of audio equipment. The company was founded in 1964 and it is headquartered in Massachusetts, United States. Their products include headphones, soundbars, earbuds, and wired and wireless speakers.
Harman International Industries, Incorporated, widely known as Harman, is an audio electronics company which was founded in 1980 and is headquartered in Stamford, Connecticut. The company has become a subsidiary of Samsung Electronics since 2017. They have an extensive portfolio of brands including AKG, JBL, Harman/Kardon, Sound craft, and Infinity, among others.
Sony Group Corporation commonly known as SONY is a Japanese multinational conglomerate engaged in manufacturing and distributing electronic products while also providing equipment-related services. The company is headquartered in Minato, Tokyo, Japan and it was founded in 1946. It is one of the most known and largest electrical equipment manufacturers in the world.
Other market players include Apple, Inc., LG Electronics, and Sonos, Inc., among others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Wireless Speakers Market Analysis
8.1 Key Industry Highlights
8.2 Global Wireless Speakers Historical Market (2018-2023)
8.3 Global Wireless Speakers Market Forecast (2024-2032)
8.4 Global Wireless Speakers Market by Product
8.4.1 Bluetooth Speakers
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Wi-Fi Speakers
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Smart Speakers
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.5 Global Wireless Speakers Market by End Use
8.5.1 Indoor
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Outdoor
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.6 Global Wireless Speakers Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
9 North America Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Bose Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Harman International Industries, Incorporated
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Sony Group Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Apple, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 LG Electronics
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Sonos, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Wireless Speakers Market: Key Industry Highlights, 2017 and 2021
2. Global Wireless Speakers Historical Market: Breakup by Product (USD Million), 2018-2023
3. Global Wireless Speakers Market Forecast: Breakup by Product (USD Million), 2024-2032
4. Global Wireless Speakers Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Wireless Speakers Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Wireless Speakers Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Wireless Speakers Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Wireless Speakers Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Wireless Speakers Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Wireless Speakers Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Wireless Speakers Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Wireless Speakers Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Wireless Speakers Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Wireless Speakers Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Wireless Speakers Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Wireless Speakers Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Wireless Speakers Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Wireless Speakers Market Structure
Key Questions Answered in the Report
In 2023, the global market for wireless speakers reached a size of USD 28.85 billion.
The market is expected to grow at a CAGR of 24.10% during the period 2024-2032.
The market is expected to reach a value of USD 201.36 billion.
The market is driven by the increasing application of wi-fi speakers and smart speakers for smart homes and the increasing demand for waterproof Bluetooth speakers.
The implementation of advanced AI in smart speakers to execute commands and manage multiple devices and the expansion of 5G network provide significant market growth opportunities.
The regional markets for the global market include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The different products in the market include Bluetooth speakers, Wi-Fi speakers, and smart speakers.
The end-users in the market include indoor and outdoor.
The key players in the market include Bose Corporation, Harman International Industries, Incorporated, Sony Group Corporation, Apple, Inc., LG Electronics, and Sonos, Inc., among others.
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