DUBLIN--(BUSINESS WIRE )--The "Bluetooth Speaker Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.

The global bluetooth speaker market was valued at USD 6.49 billion in 2019, and it is expected to reach USD 48.52 billion by 2025, at a CAGR of 40.38%, over the forecast period (2020-2025). The increasing need for eliminating more than one product in the home and commercial spaces has led to the growth of bluetooth enabled speakers and sound bars.

Bluetooth speakers have witnessed widespread adoption in the past few years, with these devices accounting for a sizeable share in the audio technology category. Bluetooth speakers come in many shapes and sizes, meeting the requirements of the consumers. With the end users utilizing the devices having different requirements, there is a range of bluetooth speakers available in the market.

Rapid innovations and increasing R&D expenditure with new innovative applications have boosted the demand in the bluetooth speakers market. The growing penetration of smartphones and increasing consumer awareness have further boosted the demand for bluetooth speakers, worldwide.

Advanced technologies, such as AI-assisted devices, are expected to influence the growth of the market in the coming years. Products, such as Amazon Alexa and Google Echo, are having high demand in the market. Thus, many manufacturers are looking to integrate these technologies to gain consumers.

Portable Bluetooth Speaker is the Fastest Growing Segment

Asia-Pacific to Witness the Fastest Growth Rate

The bluetooth speaker market is highly fragmented, as changing consumer demands are pushing companies to innovate in the space to attract more consumers. The competition in this market has intensified over the years, with companies launching a multitude of products to attract consumers. Some of the key players in the market are Sony Corporation, Harman International Industries, Bose Corporation, Koninklijke Philips, and Shure Incorporated.

4.2 Introduction to Market Drivers and Restraints

4.3.1 Increasing Demand for Portable Speakers

4.6 Industry Attractiveness - Porter's Five Forces Analysis

6.1.9 Best IT World Pvt. Ltd. (iBall)

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900