GMI Research analysis indicates that the Wireless Speaker Market is slated to register a double digit CAGR of 18.5 over the period, 2022-2029.

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The factors driving the growth of the global wireless speakers market include the high-quality listening experience of customers without using any wires and the capability of wireless speakers to connect easily to a wide range of other devices such as mobiles, tablets, PCs, televisions, and others. Other prominent features of wireless speakers include good battery life, lightweight feature, and aesthetic appeal, which are further boosting the market growth. In addition to this, the rising adoption of smartphones and tablets is expected to support the growth of the wireless speakers market as the wireless speakers can be easily connected to smartphones through an application. The wireless speakers can play audio files on mobiles, tablets, and stream podcasts over the internet without the need to wear headphones. The development of networking technologies such as Bluetooth and Wi-Fi to connect to smartphones, tablets, PCs, and other is propelling the growth of the wireless speakers market.

Increased adoption of wireless connectivity technology has led to the rising penetration of wireless speakers in various industry verticals such as teaching, entertainment, hospitality, home entertainment, sports, clubs, and others. The growing popularity of in-home entertainment system, internet of things, and smart homes are expected to fuel the market growth of wireless speakers. The growing demand for innovative audio equipment is encouraging the leading players to launch new products such as wireless speakers with voice assistant technology and AI-assisted devices. This factor is promoting the wireless speaker manufacturers to develop advanced speakers to capture the highest share in the market. Furthermore, the deployment of 4G and 5G network and the increasing rate of data usage among customers is promoting the usage of wireless communication between electronic devices, thereby, increasing the adoption of wireless speaker market during the forecast period.

Increasing adoption of advanced technologies such as AI-assisted devices is one of the prominent factors propelling the growth of the wireless speakers market. AI-enabled wireless speaker such as Google Home Max, Amazon Echo Dot 3rd Gen, and JBL Link 10, among others, offers various features such as voice recognition, storage of data on the cloud that enables quick access to the data. This factor is expected to support the growth of the market. On the other hand, the increasing concerns for the data privacy, rising incidences of hacking, limited connectivity range, and recent outbreak of the COVID-19 pandemic are likely to restrict the growth of the global wireless speakers market.

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Based on the connectivity type, that market is segmented into Bluetooth speakers and Wi-Fi speakers. The Bluetooth speaker segment is expected to witness a faster CAGR during the forecast period. These speakers can be connected to other devices such as cell phones, laptops, and others automatically and are perfect for outdoor and personal usage. The Bluetooth speakers offer various features such as low power consumption, portability, no installation, very handy, and are highly used as headphones or earphones. Wi-Fi speakers have a longer range than Bluetooth speakers and can be controlled by smart devices that are on the same network. Additionally, Wi-Fi speakers allow multiple speakers to be connected at the same time to play music with the help of Wi-Fi technology. This is one of the major factors contributing to the growth of the Wi-Fi speakers market.

Based on the price range, the market has been segmented into low-end, mid-range, and premium. The premium models of the wireless speakers deliver better audio quality and have better durability, which is the significant factor that is surging the demand of the segment. The low-end segment of the wireless speakers market is expected to witness a higher CAGR during the forecast period owing to the increasing data usage and affordability of buying low-end Bluetooth speakers among the consumers.

Based on end-user, the market is segmented into residential and commercial. Wireless speakers have been extensively used by various educational institutes, sports clubs, restaurants, offices, and small retail stores, which is the major key driver that is contributing to the growth of the market in the commercial segment. On the other hand, the growing popularity of smart speakers in the home entertainment system and the adoption of smart homes across the globe are propelling the growth of wireless speakers market in the residential sector.

Based on the distribution channel, the market is segmented into Online, Electronic Stores, and Others. The electronic stores have been growing significantly owing to the easy accessibility and availability of a wide variety of wireless speakers that meet consumer requirements. The online distribution channel segment is anticipated to grow at a higher CAGR during the forecast period owing to the easy availability of products, 24*7 availability, free home delivery, and others exceptional benefits.

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Based on the region, North America region is anticipated to lead the market during the forecast period. The increasing demand for wireless speakers in the residential sector owing the growing adoption of smart home and smart electronic devices are supporting the growing demand of the wireless speakers market in North America. Amazon, Google, Apple, and Sonos, among others, are the leading companies operating in the North America wireless speakers market. Moreover, the strong demand for innovative devices, including waterproof Bluetooth speakers, will further energize the market’s demand in this region. On the other hand, the Asia-Pacific region is expected to witness a higher CAGR over the forecast period owing to the increasing focus on the development and manufacturing of advanced wireless speakers in countries such as Japan, China, India, and South Korea. The growth in the region can also be attributed to the rising per capita income of people in developing countries, including India, China, Bangladesh, and Thailand, coupled with increasing demand for smart devices such as mobile phones and tablets.

Various notable players operating in the global Wireless Speakers Market include Bose Corporation, Samsung Electronics Co., Ltd., Sony Corporation, Amazon.com, Inc., Sonos Inc., Koninklijke Philips N.V., Apple Inc., Logitech International S.A., Yamaha Corporation, Sennheiser Electronic GmbH & Co. KG, Panasonic Corporation, Pioneer Electronics Inc., Bang & Olufsen A/S, LG Electronics Inc., and Altec Lansing Technologies, Inc. among others.

Key Developments: 

• • In 2019, Sonos, Inc. launched a portable Bluetooth speaker, Sonos Move that has capacitive touch controls and inbuilt voice assistant capability. In addition to this, the Bluetooth connectivity can be used for controlling the music from streaming services on Phone, Tablet, or Personal computer.
  • In 2019, Sony Corporation announced the launch of a range of EXTRA BASS wireless speakers that includes SRS-XB12, SRS-XB22 and SRS-XB32 portable speakers and an outdoor party speaker, the GTK-PG10. The SRS-XB22 and SRS-XB32 have dual passive radiators that work together with stereo full-range speakers to enhance low-end tones and give the bass a boost, despite the compact size. The XB12 uses a single passive radiator to achieve a similar effect. Multiple XB72 speakers can be connected using Wireless Party Chain via Bluetooth. These speakers are resistant to water and dust and available in a wide range of colors for the customers.
  • In 2019, JBL, a subsidiary of Samsung Electronics Co., Ltd. announced the launch of Pulse 4, a speaker with 360-degree sound and a light show that uses high-resolution LEDs to create a party mood with music and light. Using the JBL Connect app, the users can choose the light settings of the Pulse 4 and two smartphones or tablets can be connected via Bluetooth at the same time.

The global wireless speakers market has been segmented on the basis of connectivity type, price range, end-user, distribution channel, and key regions. Based on connectivity type, the market is segmented into Bluetooth speakers and Wi-Fi speakers. The Bluetooth speakers segment is further divided into traditional Bluetooth speakers, waterproof Bluetooth speakers, rugged Bluetooth speakers and Wi-Fi speakers segment is further divided into Wi-Fi only speakers, hybrid speakers, smart speakers, non-smart speakers, single room speakers, and multi-room speakers. On the basis of price range, the market has been segmented into low-end, mid-range, and premium. On the basis of end-user, the market is segmented into residential and commercial. On the basis of distribution channel, the market is segmented into Online, Electronic Stores and Others.

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Key questions answered in this research report:

• • At what pace is global Wireless Speakers Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Wireless Speakers Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Wireless Speakers Market?
  • Which connectivity type generated maximum revenues in 2021 and identify the most promising connectivity type during the forecast period?
  • What are the various end-user of global Wireless Speakers Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD billion)
Market Segment	By Connectivity Type, By Price range, By End-User, By Distribution Channel, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Bose Corporation, Samsung Electronics Co., Ltd., Sony Corporation, Amazon.com, Inc., Sonos Inc., Koninklijke Philips N.V., Apple Inc., Logitech International S.A., Yamaha Corporation, Sennheiser Electronic GmbH & Co. KG, Panasonic Corporation, Pioneer Electronics Inc., Bang & Olufsen A/S, LG Electronics Inc., Altec Lansing Technologies, among others; a total of 15 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Wireless Speakers Market by Connectivity Type

• • Bluetooth Speakers
  • Wi-Fi Speakers

Global Wireless Speakers Market by Price Range

• • Low-End
  • Mid-Range
  • Premium

Global Wireless Speakers Market by End-User

• • Residential
  • Commercial

Global Wireless Speakers Market by Distribution Channel

• • Online
  • Electronic Stores
  • Others

Global Wireless Speakers Market by Region

• • North America Wireless Speakers Market (Option 1: As a part of the free 25% customization)
    • North America Wireless Speakers Market by Connectivity Type
    • North America Wireless Speakers Market by Price Range
    • North America Wireless Speakers Market by End-User
    • North America Wireless Speakers Market by Distribution Channel
    • US Wireless Speakers Market All-Up
    • Canada Wireless Speakers Market All-Up
  • Europe Wireless Speakers Market (Option 2: As a part of the free 25% customization)
    • Europe Wireless Speakers Market by Connectivity Type
    • Europe Wireless Speakers Market by Price Range
    • Europe Wireless Speakers Market by End-User
    • Europe Wireless Speakers Market by Distribution Channel
    • UK Wireless Speakers Market All-Up
    • Germany Wireless Speakers Market All-Up
    • France Wireless Speakers Market All-Up
    • Spain Wireless Speakers Market All-Up
    • Rest of Europe Wireless Speakers Market All-Up
  • Asia-Pacific Wireless Speakers Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Wireless Speakers Market by Connectivity Type
    • Asia-Pacific Wireless Speakers Market by Price Range
    • Asia-Pacific Wireless Speakers Market by End-User
    • Asia-Pacific Wireless Speakers Market by Distribution Channel
    • China Wireless Speakers Market All-Up
    • India Wireless Speakers Market All-Up
    • Japan Wireless Speakers Market All-Up
    • Rest of APAC Wireless Speakers Market All-Up
  • RoW Wireless Speakers Market (Option 4: As a part of the free 25% customization)
    • RoW Wireless Speakers Market by Connectivity Type
    • RoW Wireless Speakers Market by Price Range
    • RoW Wireless Speakers Market by End-User
    • RoW Wireless Speakers Market by Distribution Channel
    • Brazil Wireless Speakers Market All-Up
    • South Africa Wireless Speakers Market All-Up
    • Saudi Arabia Wireless Speakers Market All-Up
    • UAE Wireless Speakers Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Wireless Speakers Market All-Up

Global Wireless Speakers Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

 • Bose Corporation
• Samsung Electronics Co., Ltd.
• Sony Corporation
• Amazon.com, Inc.
• Sonos Inc.
• Koninklijke Philips N.V.
• Apple Inc.
• Logitech International S.A.
• Yamaha Corporation
• Sennheiser Electronic GmbH & Co. KG
• Panasonic Corporation
• Pioneer Electronics Inc.
• Bang & Olufsen A/S
• LG Electronics Inc.
• Altec Lansing Technologies, Inc.