Growing Demand for Infotainment on the Go to Boost the Waterproof Bluetooth Speaker Market

Pune, India, August, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Global Waterproof Bluetooth Speaker  Market Research Report.

Overview:

The global waterproof Bluetooth speaker market is set to experience a skyrocketing CAGR of 23% during the forecast period (2017-2023), claims Market Research future in a well-elaborated study. The ever advancing lifestyle is always on a lookout for luxury and comfort which the leading-edge technologies are happy to oblige. The results are mostly astounding. One such outcome is waterproof Bluetooth speakers which by complying with the current trend of infotainment on the go has taken the market by storm and is eyeing for a market valuation of USD 1.6 billion by 2023.

Drivers and Restraints:

Sophistication in technology has transformed the way we listen to and appreciate music. Resulting products are quite astonishing and has revolutionized the music industry. An exemplary product, waterproof Bluetooth speakers, has been setting trends for quite some time now with features such as mobility and consumption of less power than the traditional speakers to satiate the consumer needs.

Smart homes, abiding by the preferences of the consumers, have now become a global trend. Such homes allow devices to establish a connection and communicate with each other following a wireless method. Via remote, these devices can be operated, and its features offer more flexibility. This fuels the demand for Bluetooth speaker. Waterproofing of the device is an add-on allowing spatial suppleness.

However, pirated products can create a bottleneck situation for the market as the faux-manufacturers offer such devices at a fraction of the original price. Growing trend of adopting other modes of listening to music may deepen the crisis, but this cannot hinder the market for long.

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Industry Trends:

Music giant Sony has recently launched SRS-XB41, a waterproof Bluetooth speaker that has in-built lights to entertain that can be controlled by an app. It can also be transformed into a percussion instrument giving the end-user freedom to create his or her own music. Wonderboom has launched a waterproof device that can offer 360° sound. JBL has Flip 4 to compete in the same segment.

Segmentation:

The global waterproof Bluetooth speakers market can be segmented by charging technology and application. 

By charging technology, the market includes AC only, DC only, AC/DC and wireless charging.

Application-based segmentation comprises retail, educational, institutional, offices, homes, leisure, and others. Smart classes are slowly gaining traction owing to which a demand for such Bluetooth speaker is on the rise in the educational sector. Rise in a number of people with disposable income has a knock-on effect on the sale of Bluetooth speakers in homes and leisure section.

Regional Analysis

The global waterproof Bluetooth speaker market can be segmented by Europe, North America, Asia Pacific (APAC), and Rest-of-the-World (RoW).

North America is currently spearheading the market. The growing number of smart homes in the U.S. and Canada have triggered the sale of Bluetooth speaker. Also, a lot of 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 has well-structured industries and is advanced in terms of technology.

The APAC is expected to register the fastest growth rate. India and China with a huge population base with a disposable income can spur the demand for the waterproof Bluetooth speaker during the forecast period.

Market Dashboard:

The market is highly competitive as brands are going head-to-head with their latest developments. Companies are spending much on research and development to have the market wind in their way. The price is also getting highlighted to stay abreast; companies are lowering their prices without compromising the quality.

Key market players competing in the market are Skullcandy, Inc. (U.S.), AmazonBasics (U.S.), Ultimate Ears (U.S.), Altec Lansing (U.S.), Braven (U.S.), Logitech International SA (Switzerland), Sharkk (New Jersey), JBL (U.S.), Scosche (U.S.), Fugoo Sport (U.S.) and others.