This bluetooth speaker market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The lack of privacy and security policies in the global bluetooth speaker market might hinder their adoption during the forecast period.For instance, in October 2019, security researchers disclosed a new vulnerability affecting both Google and Amazon bluetooth speakers that could allow hackers to eavesdrop on or even phish unsuspecting users. Malware could be loaded onto an unsecured network through a connected bluetooth speaker that has been compromised.Smart devices such as bluetooth speakers can be the source of a wide range of cybersecurity attacks such as denial-of-service (DDoS) attacks, man-in-the-middle (MiTM) attacks, data breaches through hacking bluetooth speakers, advanced persistent threats (APTs), and ransomware attacks.Pirated items are sold at a fraction of the cost of authentic products, and consumers, particularly in developing nations such as China and India, are more eager to buy them.One of the key challenges to the global bluetooth speaker market growth is the threat of piracy.Such factors are expected to further support the market growth in the coming years. The consumers prefer voice commerce over traditional input methods due to advantages such as hands-free operation, the ability to order while being involved in other tasks, and fast response and results.Alexa helps customers buy products that are in the user's purchase history with easy voice commands. Alexa checks users' stored buying history and suggests products based on past data.Consumers can give voice commands to bluetooth speakers enabled with virtual assistants such as Google Assistant or Amazon Alexa for searching and buying products online.Increasing popularity of voice commerce is one of the key bluetooth speaker market trends that is expected to impact the industry positively in the forecast period.Such factors will drive the market growth during the forecast period. The availability of such smartphones increases the adoption of bluetooth speakers.Such smartphones are equipped with bluetooth audio chipsets and Wi-Fi audio chipset, which enable users to connect them to a wireless speaker through bluetooth or Wi-Fi. The demand for smart speakers is also growing due to the emergence of smartphones that do not have 3.5 mm headphone jacks.The expansion of the number of potential customers for smart speakers has provided good opportunities for small vendors as well as key players to innovate and succeed in a highly competitive market.The smart assistants equipped with smart speakers are designed to deliver content related to weather forecasts, news, meeting updates, security alerts, and notifications related to the appliances used by the users.One of the key factors driving the global bluetooth speaker market growth is the increasing adoption of smart speakers.The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bluetooth speaker industry. The increasing adoption of smart speakers is notably driving the bluetooth speaker market growth, although factors such as threat of piracy may impede market growth. What will the Bluetooth Speaker Market Size be During the Forecast Period?ĭownload the Free Report Sample to Unlock the Bluetooth Speaker Market Size for the Forecast Period and Other Important Statisticsīluetooth Speaker Market: Key Drivers, Trends, and Challenges among others. Furthermore, this report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Ltd., Skullcandy Inc., Sony Group Corp., SoundBot, and Zebronics India Pvt. Ltd., ION Audio, Koninklijke Philips NV, Lenovo Group Ltd., LG Electronics Inc., Logitech International SA, Onkyo Corp., Panasonic Corp., Parra Shark, Qualcomm Inc., Samsung Electronics Co. The bluetooth speaker market report also offers information on several market vendors, including Altec Lansing Inc., Inc., Apple Inc., Artis, Best IT World India Pvt. This bluetooth speaker market research report extensively covers bluetooth speaker market segmentation by product (portable and fixed) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The bluetooth speaker market share is expected to increase to USD 6.93 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.39%.
0 Comments
Leave a Reply. |