Waterproof Bluetooth Speakers Market Subjected to Expand to Showcase Rampant Growth by 2023
Industry Insight
The global Waterproof
Bluetooth Speakers Market
analysis 2020 offers a steady compound annual growth rate (CAGR) from 2017 to
2023 of 23%, which is the forecast period. Market Research Future estimates the
figures and reveals that the market will witness high growth prospects in the
coming years with a valuation of USD 1.6 billion during the same period of
years.
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Top
Impacting Factors
The capability of Bluetooth speakers to
stream audio content wirelessly is one of the key factors driving the global
demand for such speakers in the current time. With this, Bluetooth speakers are
wireless and need minimal space, as compared to home theatres, which is also a
reason why consumers are tending towards buying Bluetooth speakers. As
Bluetooth speakers run on batteries, these are ideal for outdoor purposes.
Other advantages of these speakers include increased durability, hassle-free
maintenance, and useful functionalities, and this will spur the growth of the
global waterproof Bluetooth speakers market in the period from 2017 to 2023.
The growing popularity of multi-room
streaming and waterproof is a trend that is likely to stay and shall enhance
the growth of the global waterproof Bluetooth speakers market. The introduction
of waterproof networked audio devices has enabled most modern-day speakers to
stream audio via Bluetooth. In fact, the mounting demand for having waterproof
speakers everywhere has possibilities to drive the growth prospects of the
waterproof Bluetooth speakers market in the future.
Vendors from all over the world in the
waterproof Bluetooth speakers market are offering waterproof speakers that are
well-suited with multiple operating systems such as iOS and Android operating
systems. Multiple operating system compatibility capitalizes the sales revenue
and expands the product variants globally. Also, supported by technological
advancements, consumers can use smartphones and other internet-enabled
electronic gadgets to control various utilities without limited by the
operating system of the device. The growth of the waterproof speakers market is
supported by the factor of compatibility of speakers with multiple operating
systems the most that has increased revenue over the forecast period.
Segmentation
of Market: Waterproof Bluetooth Speakers
From the viewpoint of
segmental analysis of global waterproof Bluetooth speakers, it has been
included segments such as charging technology and application.
The charging
technology segment is bifurcated among DC only, AC only, wireless charging, and
AC/DC.
The application-based
segment comprises educational, retail, offices, institutional, leisure, homes,
and others. Smart classes are gradually gaining traction, owing to which demand
for such Bluetooth speakers is on the rise in the educational sector. Also, the
rise in the number of people with disposable income has a knock-on effect on
the sale of Bluetooth speakers in homes and leisure section.
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Regional Outlook
The
global waterproof Bluetooth speaker market has studied among the regions of
Europe, North America, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is
currently spearheading the market with its sales. The growing number of smart
homes in the U.S. and Canada has triggered the sale of Bluetooth speakers.
Also, many manufacturers are based out of this region, and people here are open
to adopting the latest technologies.
Europe has the
second-largest market as the region is well equipped with well-structured
industries and is advanced in terms of technology.
Even,
the APAC region is anticipated to record the fastest growth rate. Countries
like India and China with an enormous population base with a disposable income
can spur the demand for the waterproof Bluetooth speaker during the estimated
period.
Top Market Players
The top market players competing in the
market are listed as AmazonBasics (U.S.), Skullcandy, Inc. (U.S.), Altec
Lansing (U.S.), Ultimate Ears (U.S.), Logitech International SA (Switzerland),
Braven (U.S.), JBL (U.S.), Sharkk (New Jersey), Fugoo Sport (U.S.) and Scosche
(U.S.).
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