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The Bluetooth Devices Market size is estimated to grow at a CAGR of 8% between 2022 and 2027. The market size is forecast to increase by USD 25.25 billion. The growth of the market depends on several factors, including the increasing adoption of Bluetooth devices in various industries, the rise in the adoption of digital keys, and the rising demand for connected wearables. Bluetooth devices are electronic devices that use wireless communication technology to exchange data and information with other devices over a short distance using short-wavelength ultra-high frequency (UHF) radio waves in the industrial, scientific, and medical radio bands, from 2.4 to 2.485 GHz and building personal area networks (PANs). This technology allows for the creation of connections between devices like smartphones, headphones, speakers, and other devices. Bluetooth devices use radio waves to establish a secure and low-power connection, making them suitable for various applications such as audio streaming, file sharing, and device control.
This Bluetooth devices market report extensively covers market segmentation by distribution channel (offline and online), type (Bluetooth speaker, Bluetooth headphones, Bluetooth keyboard, Bluetooth mouse, and Bluetooth watch and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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One of the key factors driving the market growth is the increasing adoption of Bluetooth devices in various industries. Bluetooth devices which are extensively used across industries are typically designed to withstand harsh environments. Several Bluetooth devices feature low-power modes including Bluetooth low energy (BLE) or Bluetooth 5 low energy long range (LE-LR).
Moreover, there is significant importance for these power-saving features across industrial applications as they allow devices to operate on battery power for long periods, minimizing the requirement for regular battery replacements and reducing maintenance efforts. The main application of Bluetooth devices across industrial automation is that they offer the essential connectivity, low-power operation, and security required for seamless Bluetooth communication. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping the Bluetooth devices market growth is the increase in demand for smart speakers. There is an increase in the popularity of smart speakers among consumers due to the growing consumer preference for wireless and convenient audio solutions. In addition, several technological advancements and the integration of smart features in speakers have further fuelled the demand for Bluetooth devices.
Moreover, the rising trend of smart homes and connected devices is further fuelling the demand for smart speakers which is positively impacting the market. As there is an increasing adoption of smart homes across various households, it will increase the adoption of smart speakers which in turn increase the demand for Bluetooth devices. Hence, such factors are expected to drive market growth during the forecast period.
The rise in security and access concerns regarding Bluetooth devices is one of the key challenges hindering the market growth. The main challenges associated with Bluetooth devices are security and access. The process of establishing a secure connection in Bluetooth devices is called pairing. The process of pairing includes verifying the identity of the devices and exchanging encryption keys to secure communication.
Moreover, the encryption algorithms of Bluetooth are programmed to ensure confidentiality and avoid unauthorized access to the data being exchanged. Additionally, the painting process requires user consent or permission to establish a connection or access a particular service. Hence, such issues regarding security and access will negatively impact the market which in turn will hinder the market growth during the forecast period.
The offline segment is estimated to witness significant growth during the forecast period. The offline distribution channel comprises consumer electronics stores, hypermarkets and supermarkets, and specialty retail stores that sell Bluetooth devices including mouse, keyboards, speakers, headphones, and several others. The advent of globalization has led to a surge in investments across brick and mortar retail sectors which in turn increased the number of offline retail outlets.
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The offline segment was the largest segment and was valued at USD 30.21 billion in 2017. In addition, the rapid technological advancements and innovative product designs have made Bluetooth devices affordable to consumers across the world over the past decade. There is an increasing focus by several market players on matching the online prices of their Bluetooth devices with the retail price suggested by Bluetooth device manufacturers. As a result, the price difference across different distribution channels has declined significantly over the past few years. Some of the main market players that follow unilateral pricing policies, wherein the price of their Bluetooth devices is the same across all authorized retailers include Amazon Inc (Amazon), Samsung Electronics Co Ltd (Samsung), and Apple Inc (Apple). Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
Convenience and versatility will fuel the demand for the Bluetooth speaker segment which in turn will drive the market growth. There is an increasing popularity for the Bluetooth speaker segment among consumers due to its convenience and versatility. The main advantage of this segment is that it enables users to wirelessly connect their devices, including smartphones or laptops, to the speaker and enjoy high-quality sound anywhere they go. JBL is one of the prime examples of Bluetooth speaker segments that are known for their exceptional sound quality and durability. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main factors that have significantly contributed to the growth of the global Bluetooth devices market in North America are technological advancements, increasing consumer demand, and supportive government initiatives. The rapid technological advancement in North America is fuelling the demand for Bluetooth devices market in the region as North America is known for its technological innovation, with numerous tech giants headquartered in Silicon Valley.
Moreover, several market players are constantly launching new Bluetooth-enabled devices with improved features and functionalities, catering to the changing preferences of consumers. For instance, several prominent market players including Apple Inc (Apple) and Samsung Electronics Co Ltd (Samsung) regularly launch new Bluetooth headphones and speakers with improved sound quality and noise cancellation. Hence, such factors are expected to drive the market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global Bluetooth devices market witnessed a significant growth as a large number of consumers were spending their time indoors which fuelled the demand for Bluetooth devices in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in retail outlets. Such factors are expected to drive the market during the forecast period
The Bluetooth devices market industry report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Bluetooth Devices Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amazon.com Inc: The company offers Bluetooth devices under the brand name of Alexa such as Amazon Echo Dot, Amazon Echo Studio Smart speaker, and Amazon Echo Show 10.
Anker Technology UK Ltd: The company offers Bluetooth devices such as Anker SoundCore A3102011 Bluetooth Speaker, Anker Pocket Size Bluetooth Speaker, Anker SoundCore Pro, Anker Bluetooth Soundcore Headset Life P2 Black.
Apple Inc: The company offers Bluetooth devices such as AirPods 2nd Generation, AirPods 3rd Generation, AirPods Pro 2nd Generation, and AirPods Max.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Bluetooth devices market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Bluetooth Devices Market Scope |
|
Report Coverage |
Details |
Page number |
183 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8% |
Market growth 2023-2027 |
USD 25.25 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.55 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 31% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amazon.com Inc., Anker Technology UK Ltd., Apple Inc., Bose Corp., Dell Technologies Inc., Denon, GN Store Nord AS, HP Inc., Huawei Technologies Co. Ltd., Imagine Marketing Pvt. Ltd., Koninklijke Philips N.V., LG Electronics Inc., Logitech International SA, Microsoft Corp., Panasonic Holdings Corp., Pioneer Corp., Samsung Electronics Co. Ltd., Sennheiser Electronic GmbH and Co. KG, Sony Group Corp., and Xiaomi Communications Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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