LONDON--(BUSINESS WIRE)--TechNavio, a tech-focused research firm has published a new report on the Global Bluetooth Speaker Market, which is expected to grow at a CAGR of 38.73 percent from 2015-2019.
The Global Bluetooth Speaker Market is witnessing an increase in R&D expenditure by vendors, thus resulting in the introduction of many innovative applications like improved battery life and better efficiency.
“Vendors are trying to attract a wider consumer base by providing a range of multipurpose Bluetooth speakers, which come in a huge variety of colors and shapes,” says Faisal Ghaus, Vice President of TechNavio.
The price of Bluetooth speakers has also declined since they were first introduced. The high growth rate and lucrativeness of the Global Bluetooth Speaker Market have caused a price war among existing vendors, which has driven down the price of the speakers.
“New vendors entering the market are offering Bluetooth speakers at a cheaper rate than the existing vendors, which is causing global vendors to reduce their prices in order to stay competitive,” says Ghaus.
According to the new report from TechNavio, the Global Bluetooth Speaker Market will be valued at more than US$7 billion by 2019.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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