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U.S. BLUETOOTH SPEAKER MARKET SIZE TO CROSS USD 3 BILLION BY 2023, GROWING AT CAGR OF AROUND 11% DURING THE FORECAST PERIOD
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U.S. BLUETOOTH SPEAKER MARKET REPORT SCOPE
| REPORT ATTRIBUTE | DETAILS |
|---|---|
| MARKET SIZE (REVENUE) | USD 3 BILLION (2023) |
| MARKET SIZE (UNIT SHIPMENT) | 34 MILLION UNIT (2023) |
| CAGR | 11% (2017-2023) |
| BASE YEAR | 2018 |
| FORECAST YEAR | 2018-2023 |
| MARKET SEGMENTS | Product (traditional, waterproof, and rugged), by price range (low-end, mid-range, and premium), by end-user type (residential users and commercial users), by portability (fixed and portable), and by distribution channel (online and retail) |
| GEOGRAPHIC ANALYSIS | United States |
| COUNTRIES COVERED | United States |
INDUSTRY INSIGHTS
The increasing growth of the music industry and the introduction of various streaming services such as Apple Music, Pandora, and Spotify is contributing to the revenues in the U.S. Bluetooth speaker market. The rising adoption of subscription music services by end-users is augmenting the growth. The growing investment in the development of Bluetooth technology that helps vendors includes additional features such as low power mode, HD data streaming, and improvement in the range will boost the demand for these wireless speakers. The introduction of industry grade connectivity solutions, mesh networking technology, and rapid advancements are some of the primary factors attributing to the U.S. Bluetooth speaker market growth. The leading vendors are leveraging technologies to launch innovative products that offer features such as waterproof and rugged devices to gain a larger U.S. Bluetooth speaker market share over the next few years. Additionally, the introduction of speakers with better integration with smartphones, innovative models, and sleek designs to give luxurious appeal will help in the development of the U.S. Bluetooth speaker market.
The recovery of the economy and increasing purchasing power will contribute to the increase in purchase and usage of electronic gadgets. The industry is also witnessing a trend of using the devices in increasing number of connected homes and growing number of dual-income households in the United States.
U.S. BLUETOOTH SPEAKER INDUSTRY DYNAMICS
The rapid advancements in battery technology are propelling the development of the U.S. Bluetooth speaker market. The integration of lithium-ion batteries will improve the performance of these speakers. The increasing R&D for alternative electrode materials to improve the cost, performance, and energy density of lithium-ion batteries will boost the adoption of this technology in the US market. The introduction of speakers that can run continuously up to 16 to 24 hours in a single charge will revolutionize the industry during the forecast period. The launch of gold nanowire batteries that are made up of gold nanowires in a gel electrolyte and tend to hold the original composition after multiple charge cycles will create new opportunities for top manufacturers operating in the United States. The increase in battery capacity is the primary focus of top vendors operating in the U.S. Bluetooth speaker market. For instance, Sony SRS-XB40 Extra Bass portable wireless speaker can offer battery backup for up to 24 hours.
U.S. BLUETOOTH SPEAKER MARKET SEGMENTATION
This research report includes a detailed segmentation analysis by products, price range, end-users, portability, and distribution channel.
INSIGHTS BY PRODUCT TYPE
The U.S. Bluetooth speaker market share by product type is segmented into the traditional speaker, waterproof speaker, and rugged speaker. The waterproof Bluetooth speaker segment dominated the majority of the industry share in 2017, growing at a CAGR of over 12% during forecast period. The launch of mid-premium marine speakers with a waterproof IP certification ranging between 7 and 9K is propelling the growth of this segment. These speakers are designed to enable end-users to listen to music without worrying water damage. The growing availability of features such as mobility, high audio quality, and water-resistance features at an affordable price is driving the demand for these smart speakers. The rising number of pool parties and boat events across the United States is fueling the adoption of these devices in. States such as California, Florida, and Arizona are the largest end-user of these products in the U.S. Bluetooth speaker market. Some of these products provide a facility to receive a phone call and are marketed as multipurpose devices.
INSIGHTS BY PORTABILITY
The portability segment is classified into fixed and portable. Portable systems occupied over 3/4th of the industry share in 2017, growing at CAGR of more than 11% during the forecast period. The portable speakers can be carried anywhere, and these units can be AC powered, or AC/DC powered thereby, driving the demand in this segment. This audio equipment is designed to offer ease-of-convenience with respect to placement of speakers and while traveling. The vendors are launching innovative product designs to attract a larger consumer group and gain a larger U.S. Bluetooth speaker market share during the forecast period.
INSIGHTS BY END-USERS
The U.S. Bluetooth speaker market by end-users is divided into residential and commercial end-users. Residential end-users segment dominated more than half of the market share in 2017, growing at a CAGR of approximately 13% during the forecast period. This segment comprises of individuals who buy these wireless speakers for home use or residential purposes. The growing number of smart home users is propelling the demand for these devices in this segment. These speakers find their application as home speakers in households. These devices are used for music streaming via smartphones or PCs, and some of the US households have more than one speaker installed. Such requirements will propel the growth of this segment in the U.S. Bluetooth speaker market.
INSIGHTS BY DISTRIBUTION CHANNEL
The distribution channel segment in the U.S. Bluetooth speaker market is categorized into online and retail (specialty stores, mass market stores, and electronic stores). The retail stores occupied the majority of the market share in 2017, growing at a CAGR of more than 20% during the forecast period. The increasing number of electronic stores that offer various electronic gadgets and accessories is propelling the growth of this segment. Large-scale retailers such as Walmart, Costco, Tesco, Home Depot, and Target are some of the highest revenue generators. These stores are offering personalized customer services to attract a higher number of consumers and gain a larger share in the United States. These retail chains help educated end-users about various products available in the market, their modus operandi, and their usage. Such dedicated services are attributing to the revenues.
The U.S. Bluetooth speaker market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Product Type
- Traditional
- Waterproof
- Rugged
Price Range
- Low-end Range (< $50)
- Medium Range ($51 - $200)
- Premium Range (> $200)
End-User Type
- Residential End-users
- Commercial End-users
Portability
- Fixed
- Portable
Distribution Channel
- Retail
- Specialty Stores
- Mass Market Players
- Electronic Stores
- Online
SNAPSHOT
The US Bluetooth speaker market size is expected to generate revenues of over $3 billion by 2023, growing at an impressive CAGR of around 11% 2018–2023.
The US Bluetooth speaker market is driven by the growing demand for consumer durable product and connected devices. The increase in sales and improvement in consumer confidence, and residential sales is attributing to the growing revenues in the US market. The market research report provides in-depth market analysis and segmental analysis of the US Bluetooth speaker market by products, price range, end-users, portability, and distribution channel.
Market Size:
- Revenue
- Unit Shipment
Base Year: 2017
Forecast Year: 2018–2023
The study considers the present scenario of the US Bluetooth speaker market and its market dynamics for the period 2018−2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Major Vendors in the US Bluetooth Speaker Market
- Bose
- Business Overview
- Bose in the US Bluetooth Speaker Market
- Major Product Offerings
- Key Strategies
- Key Strengths
- Key Opportunities
- HARMAN International (Samsung)
- BEATS Electronics (Apple)
- Sony
Prominent Players in the US Bluetooth Speaker Market
- Altec Lansing
- Overview
- Anker Innovations
- AOMAIS
- Axess Products
- Bang & Olufsen
- Braven
- Creative Technology
- DOSS
- D&M Holdings (Denon)
- Edifier
- Forcovr (Shenzhen Guowei Security)
- iClever
- ION Audio
- JAM Audio
- JONTER
- KitSound by Kondor
- Klipsch Group
- Koninklijke Philips
- Lenovo
- LG Electronics
- Logitech
- Monster Cable Products
- Mpow
- Onkyo & Pioneer
- Panasonic
- Photive
- Plantronics
- Rock Space (RENQING TECHNOLOGY)
- Samsung Electronics
- SHARKK
- Sharp
- Skullcandy
- SoundBot
- Supersonic
- The House of Marley
- Tribit audio
- VicTsing
- Yamaha
- Zebronic
Market Segmentation by Product Type
- Traditional Speaker
- Waterproof Speaker
- Rugged Speaker
Market Segmentation by Price Range
- Low-end Range (< $50)
- Medium Range ($51 - $200)
- Premium Range (> $200)
Market Segmentation by End-User Type
- Residential End-users
- Commercial End-users
Market Segmentation by Portability
- Fixed
- Portable
Market Segmentation by Distribution Channel
- Retail
- Specialty Stores
- Mass Market Players
- Electronic Stores
- Online
Frequently Asked Questions
What is the expected value of U.S. Bluetooth speaker market size?
What is the growth forecast in CAGR?
Who are the leading players and what are their strengths and strategies to sustain the competition?
List Of Exhibits
Exhibit 1 Segmentation of US Bluetooth Speaker Market
Exhibit 2 Market Size Calculation Approach 2017
Exhibit 3 Market Size Calculation 2017
Exhibit 4 Evolution of Bluetooth Technology
Exhibit 5 Bluetooth Technology Segments
Exhibit 6 Change in Real GDP in US 2017−2023 (%)
Exhibit 7 Dual-income Households in US (1970 vs. 2015)
Exhibit 8 Holiday Retail Sales in the US 2007- 2017 ($ billion)
Exhibit 9 US Adult Percentage Who Chose Technology Gifts Holiday Sessions 2007−2017
Exhibit 10 US Adult Spending on Total Holiday Gifts versus Technology Gifts 2005−2017
Exhibit 11 Intended Audio Products as a Gift in by US Adults in 2017 Holiday Sessions
Exhibit 12 Total Consumer Spending on Music in US: Share of Streaming 2015−2017 ($ billion)
Exhibit 13 Advancements in Battery Technology: Timeline Analysis
Exhibit 14 Growth in Labor Costs in Various Chinese Cities in 2016
Exhibit 15 Global Mobile OS Market Share May 2017−May 2018
Exhibit 16 Global and US Bluetooth-enabled Audio Device Shipments 2013−2023 (million units)
Exhibit 17 Economic Impact of IoT in Various Settings by 2025 (impact in $ trillion)
Exhibit 18 Growing Web-based Offline Retail Sales (%)
Exhibit 19 Speaker Manufacturing: Market Participants
Exhibit 20 Value Chain Analysis of Speaker Market
Exhibit 21 Smart Home Ecosystem
Exhibit 22 Key Vendors in Smart and Connected Markets
Exhibit 23 Vendor Mapping in Smart and Connected Markets
Exhibit 24 Number of Smart Device Ownership in US 2017
Exhibit 25 Smart Homes in North America and Europe by Installed Base (million units)
Exhibit 26 US Market Historical Data 2014−2016
Exhibit 27 US Bluetooth Speaker Market 2017−2023 (million units)
Exhibit 28 Annual Saving Ratio of US
Exhibit 29 Change in US GDP Growth Rate (Q1 2006−Q2 2016)
Exhibit 30 US Bluetooth Speaker Market 2017−2023 ($ billion)
Exhibit 31 End-user of Voice Search by Age Category October 2016–March 2018
Exhibit 32 Revenue CAGR Comparison: Smart Speaker Market vis-à-vis US Speaker Market 2017−2023
Exhibit 33 US Retail Sales of Consumer Technology Products 2013−2018 ($ billion)
Exhibit 34 Connected Home Market in US 2015−2023 ($ billion)
Exhibit 35 ASP of Speakers 2014−2023 ($)
Exhibit 36 Smartphone Penetration in North America, Western Europe, and APAC 2010−2022
Exhibit 37 Rising Consumer Revolving Credit in US (% change)
Exhibit 38 Solo Traveling by Gender Split (%)
Exhibit 39 Five Forces Analysis 2017
Exhibit 40 US Bluetooth Speaker Market by Product Type: Overview
Exhibit 41 US Bluetooth Speaker Market by Product Type 2017
Exhibit 42 CAGR Comparison: Traditional versus Waterproof versus Rugged Speakers 2017−2023
Exhibit 43 Traditional US Bluetooth Speaker Market 2017−2023 (million units)
Exhibit 44 Traditional US Market 2017−2023 ($ billion)
Exhibit 45 Waterproof US Market 2017−2023 (million units)
Exhibit 46 Waterproof US Bluetooth Speaker Market 2017−2023 ($ billion)
Exhibit 47 Rugged US Bluetooth Speaker Market 2017−2023 (million units)
Exhibit 48 Various Reasons for Beach Visiting in US by End-users 2017
Exhibit 49 Rugged US Bluetooth Speaker Market 2017−2023 ($ billion)
Exhibit 50 US Market Lucrativeness by Product (unit shipment) 2022
Exhibit 51 US r Market by Price Range: Overview
Exhibit 52 US Bluetooth Speaker Market by Price Range 2017
Exhibit 53 CAGR Comparison: Low-end versus Mid-range versus Premium Bluetooth Speakers 2017−2023
Exhibit 54 US Bluetooth Speaker Market by Portability: Overview
Exhibit 55 US Market by Portability 2017
Exhibit 56 US Bluetooth Speaker Market by End-users: Overview
Exhibit 57 US Market by End-users 2017
Exhibit 58 Distribution Channel of Speakers
Exhibit 59 Distribution Channel Flow of Speakers
Exhibit 60 US Bluetooth Speaker Market by Distribution Channels 2017
List Of Tables
Table 1 Key Caveats
Table 2 Currency Conversion 2013−2017
Table 3 Bluetooth Technologies and Feature
Table 4 YOY Impact of Market Growth Enablers 2017−2023
Table 5 Average Minimum Wages in Various APAC Countries
Table 6 Smart Speakers Market Vendors and Speaker Models
Table 7 Pricing Analysis: Smart Speakers versus Speakers
Table 8 YOY Impact of Market Growth Restraints 2017−2023
Table 9 Average IoT Expenditure by Various Industries (percentage of overall revenue) 2017
Table 10 YOY Impact of Market Opportunities & Trends 2017−2023
Table 11 Opportunities and Impact for Solution Providers in Connected Living Market
Table 12 Product Bundling by Bose
Table 13 Comparative Analysis of Speakers
Table 14 IP Certification for Waterproof Speakers
Table 15 IP Certification for Rugged Speakers
Table 16 Low-end US Bluetooth Speaker Market 2017−2023
Table 17 Mid-range US Market 2017−2023
Table 18 Premium US Market 2017−2023
Table 19 Fixed US Bluetooth Speaker Market 2017−2023
Table 20 Portable US Bluetooth Speaker Market 2017−2023
Table 21 Residential US Bluetooth Speaker Market 2017−2023
Table 22 Global Commercial Speaker Market 2017−2023
Table 23 US Bluetooth Speaker Market by Vendor Ranking 2017
Table 24 Bose: Product Offerings
Table 25 HARMAN International: Major Product Offerings
Table 26 Beats Electronics: Major Product Offerings
Table 27 Sony: Product Offerings
Table 28 Quantitative Summary of Market by Product 2017−2023 (million units)
Table 29 Quantitative Summary of Market by Product (unit shipment) 2017−2023 (%)
Table 30 Quantitative Summary of Market by Product 2017−2023 ($ billion)
Table 31 Quantitative Summary of Market by Product (revenue) 2017−2023 (%)
Table 32 Quantitative Summary of Market by End-users 2017—2023 (million units)
Table 33 Quantitative Summary of Market by End-users (unit shipment) 2017−2023 (%)
Table 34 Quantitative Summary of Market by End-users 2017—2023 ($ billion)
Table 35 Quantitative Summary of Market by End-users (revenue) 2017−2023 (%)
Table 36 Quantitative Summary of Market by Price Range 2017—2023 (million units)
Table 37 Quantitative Summary of Market by Product (unit shipment) 2017−2023 (%)
Table 38 Quantitative Summary of Market by Price Range 2017—2023 ($ billion)
Table 39 Quantitative Summary of Market by Product (revenue) 2017−2023 (%)
Table 40 Quantitative Summary of Market by Portability 2017—2023 (million units)
Table 41 Quantitative Summary of Market by Portability (unit shipment) 2017−2023 (%)
Table 42 Quantitative Summary of Market by Portability 2017—2023 ($ billion)
Table 43 Quantitative Summary of Market by Portability (revenue) 2017−2023 (%)
1 Research Methodology
2 Research Objectives
3 Research Process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Segmentation by Product Type
4.3.2 Market Segmentation by Price Range
4.3.3 Market Segmentation by End-user Type
4.3.4 Market Segmentation by Portability
4.3.5 Market Segmentation by Distribution Channel Type
4.3.6 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Inclusions
5.3 Exclusions
5.4 Currency Conversion
5.5 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Bluetooth Technologies
7.2.1 By Radio
7.2.2 By Topology
7.2.3 By Solution
7.3 Working Mechanism of a Bluetooth Speaker
7.4 MacroEconomic Factors Enabling Market Growth
7.4.1 Economic Development
7.4.2 Increase in Per Capita GDP
7.4.3 Dual-income Households
8 US Bluetooth Speaker Market Dynamics
8.1 Market Growth Enablers
8.1.1 Increased Purchase of Speakers as Gifts
8.1.2 Growing Online Music Streaming
8.1.3 Advancements in Battery Technology
8.1.4 YOY Impact of Market Growth Enablers
8.2 Market Growth Restraints
8.2.1 Volatility in Raw Material Prices and Increasing Labor Costs
8.2.2 Growing Threat from Smart Speakers
8.2.3 Technological Issues
8.2.5 YOY Impact of Market Growth Restraints
8.3 Market Opportunities & Trends
8.3.1 Growing Product Innovations
8.3.2 Increased Investment in IoT by Vendors
8.3.3 Increasing Influence of Internet in Shaping End-users' Purchasing Behavior
8.3.4 YOY Impact of Market Opportunities & Trends
9 Value Chain Analysis
9.1 Value Chain overview
9.2 Value Chain Analysis
9.2.1 Raw Material and Component Suppliers
9.2.2 Manufacturers
9.2.3 Distributors/Dealers/Retailers
9.2.4 Retailers
9.2.5 End-user
10 Introduction to Smart Home
10.1 Overview
10.2 IoT Specialized Networks
10.2.1 Bluetooth
10.2.2 ZigBee
10.2.3 Z-Wave
10.2.4 Thread
10.2.5 Wi-Fi
10.2.6 Cellular
10.3 Opportunities in Connected Living Market
10.4 Smart Device Ownership
11 Market Landscape
11.1 US Bluetooth Speaker Market
11.1.1 Historical Data 2014−2016
11.1.2 Market Size & Forecast 2017−2023
11.2 Porter’s Five Forces Analysis
11.2.1 Threat of New Entrants
11.2.2 Bargaining Power of Suppliers
11.2.3 Bargaining Power of Buyers
11.2.4 Threat of Substitutes
11.2.5 Competitive Rivalry
12 Market by Product Type
12.1 Market Overview
12.2 Traditional US Bluetooth Speaker Market
12.2.1 Market Size & Forecast
12.3 Waterproof US Bluetooth Speaker Market
12.3.1 Market Size & Forecast
12.4 Rugged US Bluetooth Speaker Market
12.4.1 Market Size & Forecast
13 Market by Price Range
13.1 Market Overview
13.2 Market Size & Forecast
13.2.1 Low-end US Bluetooth Speaker Market
13.2.2 Mid-range US Bluetooth Speaker Market
13.2.3 Premium US Bluetooth Speaker Market
14 Market by Portability
14.1 Market Overview
14.2 Market Size & Forecast
14.2.1 Fixed US Bluetooth Speaker Market
14.2.2 Portable US Bluetooth Speaker Market
15 Market by End-Users
15.1 Market Overview
15.2 Market Size & Forecast
15.2.1 Residential US Market
15.2.2 Commercial US Market
16 Market by Distribution Channel
16.1 Market Overview
16.2 Manufacture, Production, and Distribution
16.3 Distribution through Retail Stores
16.4 Distribution through Online Websites
17 Competitive Landscape
17.1 Market Overview
17.2 Market Vendor Ranking
18 Key Company Profiles
18.1 Bose
18.1.1 Business Overview
18.1.2 Bose in US Bluetooth Speaker Market
18.1.3 Major Product Offerings
18.1.4 Key Strategies
18.1.5 Key Strengths
18.1.6 Key Opportunities
18.2 HARMAN International (Samsung)
18.2.1 Business Overview
18.2.2 HARMAN International in US Bluetooth Speaker Market
18.2.3 Major Product Offerings
18.2.4 Key Strategies
18.2.5 Key Strengths
18.2.6 Key Opportunities
18.3 BEATS Electronics (Apple)
18.3.1 Business Overview
18.3.2 Beats Electronics in US Bluetooth Speaker Market
18.3.3 Major Product Offerings
18.3.4 Key Strategies
18.3.5 Key Strengths
18.3.6 Key Opportunities
18.4 Sony
18.4.1 Business Overview
18.4.2 Sony in US Bluetooth Speaker Market
18.4.3 Major Product Offerings
18.4.4 Key Strategies
18.4.5 Key Strengths
18.4.6 Key Opportunities
19 Other Prominent Vendors
19.1 Altec Lansing
19.1.1 Overview
19.2 Anker Innovations
19.2.1 Overview
19.3 AOMAIS
19.3.1 Overview
19.4 Axess Products
19.4.1 Overview
19.5 Bang & Olufsen
19.5.1 Overview
19.6 Braven
19.6.1 Overview
19.7 Creative Technology
19.7.1 Overview
19.8 DOSS
19.8.1 Overview
19.9 D&M Holdings (Denon)
19.9.1 Overview
19.10 Edifier
19.10.1 Overview
19.11 Forcovr (Shenzhen Guowei Security)
19.11.1 Overview
19.12 iClever
19.12.1 Overview
19.13 ION Audio
19.13.1 Overview
19.14 JAM Audio
19.14.1 Overview
19.15 JONTER
19.15.1 Overview
19.16 KitSound by Kondor
19.16.1 Overview
19.17 Klipsch Group
19.17.1 Overview
19.18 Koninklijke Philips
19.18.1 Overview
19.19 Lenovo
19.19.1 Overview
19.20 LG Electronics
19.20.1 Overview
19.21 Logitech
19.21.1 Overview
19.22 Monster Cable Products
19.22.1 Overview
19.23 Mpow
19.23.1 Overview
19.24 Onkyo & Pioneer
19.24.1 Overview
19.25 Panasonic
19.25.1 Overview
19.26 Photive
19.26.1 Overview
19.27 Plantronics
19.27.1 Overview
19.28 Rock Space (RENQING TECHNOLOGY)
19.28.1 Overview
19.29 Samsung Electronics
19.29.1 Overview
19.30 SHARKK
19.30.1 Overview
19.31 Sharp
19.31.1 Overview
19.32 Skullcandy
19.32.1 Overview
19.33 SoundBot
19.33.1 Overview
19.34 Supersonic
19.34.1 Overview
19.35 The House of Marley
19.35.1 Overview
19.36 Tribit audio
19.36.1 Overview
19.37 VicTsing
19.37.1 Overview
19.38 Yamaha
19.38.1 Business Overview
19.39 Zebronics
19.39.1 Overview
20 Report Summary
20.1 Key Takeaways
20.2 Strategic Recommendation
20.3 Qualitative Summary of US Bluetooth Speaker Market
20.4 Quantitative Summary: US Bluetooth Speaker Market
20.4.1 Market by Product
20.4.2 Market by End-users
20.4.3 Market by Price Range
20.4.4 Market by Portability
21 Appendix
21.1 Abbreviations
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Frequently Asked Questions
What is the expected value of U.S. Bluetooth speaker market size?
What is the growth forecast in CAGR?
Who are the leading players and what are their strengths and strategies to sustain the competition?
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