Need for Wireless Connectivity to Boost Demand for Bluetooth Speakers

MarketResearchReports.Biz presents this most up-to-date research on " Global Bluetooth Speaker Market 2016-2020 "

MarketResearchReports.biz has announced a new addition to its repository. The report, titled “Global Bluetooth Speaker Market 2016-2020,” analyzes the current scenario of the global Bluetooth speaker market and presents growth prospects for the future.

According to the report, the global Bluetooth speaker market is expected to grow at a CAGR of 33% between 2016 and 2020. The report provides a complete overview of the market structure, trends, and analysis according to geography. The report considers the revenue generated from the sales of Bluetooth speakers to calculate the market size.

Bluetooth speakers have the ability to play audio wirelessly and occupy less space than home theater systems. Due to this quality, consumers are preferring the use of Bluetooth speakers over other conventional speakers. The advanced technology in use in Bluetooth speakers helps in separating a system’s logical and physical connections by establishing wireless connectivity, enabling the usage of multiple channels.

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The report states that the high durability and hassle-free maintenance of Bluetooth speakers is expected to globally enhance their sales. The increasing popularity of multi-room streaming is also likely to bolster the sales of Bluetooth speakers. Due to the increasingly popular trend of installing speakers in multiple rooms, the demand for Bluetooth speakers is increasing for better wireless connectivity.

The drawback that the Bluetooth speaker industry is expected to face is due to the feature of data exchange within a defined range according to the capacity of the speaker. The easy availability of substitutes is also expected to hinder the market growth.

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The report analyzes the key regions in terms of demand for Bluetooth speakers. By 2020, North America is expected to account for almost 44% of the overall market. The segment is also anticipated to lead in terms of the latest technological adaptations. The demand for Bluetooth speakers is also likely to rise as they also being purchased as style statements.

The report also provides an in-depth analysis of the market trends, challenges that the vendors are likely to face in the future, and the key regions. The regions in focus in this study are the Americas, EMEA, and APAC. The report also provides an analysis of the regional market attractiveness.

The market is extremely competitive due to the existence of many companies who have already established an identity in the market for themselves. These companies are predicted to witness high competition in terms of technology, features, pricing, and size. Major companies are investing in research projects aimed to develop new technologies, designs, and plans for acquiring new players, and to expand their existing facilities in order to claim an advantage over their peers. The key vendors in the global Bluetooth speakers market are Bose, Beats Electronics, Samsung, Harman, and Sony. Some other prominent companies in this segment are Avnera, Altec Lansing, Braven, Creative Technology, Cambridge Soundworks, JBL, Yamaha, and Supersonic.