Global Wireless Speakers Market Report and Forecast 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

Wireless Speakers Market Report Snapshots

Wireless Speakers Market Size

Wireless Speakers Market Trends

Wireless Speaker Market Analysis

Wireless Speakers Companies