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The global bluetooth speaker market was valued at US$ 10.1 Billion in 2021.
We expect the global bluetooth speaker market to exhibit a CAGR of 19.1% during 2022-2027.
The rising popularity of portable audio devices, coupled with the growing demand for AI-based Bluetooth speakers, such as Alexa and Echo, is primarily driving the global Bluetooth speaker market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of bluetooth speakers.
Based on the portability, the global bluetooth speaker market has been divided into portable and fixed, where portable bluetooth speakers exhibit a clear dominance in the market.
Based on the type, the global bluetooth speaker market can be categorized into smart bluetooth speakers and conventional bluetooth speakers. Among these, conventional bluetooth speakers account for the majority of the global market share.
Based on the price, the global bluetooth speaker market has been segregated into low, medium, and high. Currently, medium priced speakers hold the largest market share.
Based on the distribution channel, the global bluetooth speaker market can be bifurcated into specialty stores, supermarkets and hypermarkets, departmental stores, online, and others. Among these, supermarkets and hypermarkets exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global bluetooth speaker market include Bose Corporation, Edifier International Limited, Harman International Industries, LG Corporation, Panasonic Corporation, Polk Audio, Samsung, Sennheiser Electronic GmbH & Co.KG, Sony Corporation, boAt, etc.
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