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Wireless Speakers Global Market Report 2021: COVID-19 Growth And Change To 2030

·4-min read

Major players in the wireless speakers market are Beats Electronics, Bose, Harman, Samsung and Sony. The global wireless speakers market is expected to grow from $15. 03 billion in 2020 to $17.

New York, Sept. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wireless Speakers Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151584/?utm_source=GNW
53 billion in 2021 at a compound annual growth rate (CAGR) of 16.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $32.71 billion in 2025 at a CAGR of 16.9%.

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.

The wireless speakers market covered in this report is segmented by product into bluetooth speakers, Wifi-speakers. It is also segmented by end user into residential, commercial and by type into fixed, portable.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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.

The wireless speakers based on AI software use cloud which offers a steady base for storage of data and enables quick access to the data.Google Home Max, Amazon Echo Dot 3rd Gen and JBL Link 10 are some of the wireless smart speakers with AI technology.

According to Gartner, Inc., the end-user spending on virtual personal assistant (VPA)-enabled wireless speakers is estimated to increase to $3.52 billion by 2021.

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, 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 Federal Communication Commission (FCC) is an independent agency of the USA government that regulates interstate communications by radio, television, wire, satellite, and cable.The FCC also governs the wireless speakers market in the USA.

The wireless speakers’ manufacturers are required to get certification to launch their products from the FCC.The wireless speakers undergo required safety testing before receiving the FCC certification.

The FCC has also set the bandwidth for wireless devices as 600 MHz, exceeding which results into disqualification of the FCC certification. Hence, the regulations related to interstate communications by radio, television, wire, satellite, and cable by the FCC is expected to maintain a vigil on the companies involved in this market.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06151584/?utm_source=GNW

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