The United Kingdom waterproof speaker market is projected to experience significant growth, driven by the increasing prevalence of smart homes that integrate automation for both indoor and outdoor spaces, boasting a CAGR of over 7.2%. In these smart homes, various consumer electronics, media devices, entertainment gadgets, and other smart technologies are interconnected within the home network.
This connectivity enables consumers to monitor and play music remotely, tailored to their preferences. As a result, these capabilities are anticipated to boost the adoption of waterproof speakers in the UK, contributing to rising revenue in the market.
The waterproof speaker market is on an impressive growth trajectory, currently valued at an estimated USD 9.22 billion in 2023, and anticipated to reach USD 19 billion by 2033, reflecting a robust CAGR of 7.5% over the forecast period. This market expansion is fueled by a convergence of technological innovations, evolving consumer preferences, and the rising popularity of portable audio solutions.
Future Market Insights highlights the dynamic nature of the waterproof speaker market, influenced by a plethora of industry factors driving innovation. Recent advancements include enhanced connectivity options through AirPlay, Wi-Fi, Bluetooth, and NFC, which are enriching the user experience with cloud-hosted music services like Spotify and SongPal.
Key Highlights:
- Technological Advancements: The rise of 5G technology is significantly bolstering demand for waterproof speakers equipped for augmented and virtual reality applications. This high-speed connectivity promises an improved user experience, further driving adoption.
- Innovative Designs: Companies are emphasizing smart features and striking designs in their product offerings. For instance, Logitech International S.A. launched the Ultimate Ears BOOM 3 and MEGABOOM 3, showcasing stunning aesthetics combined with high-performance functionalities.
- Music Collaborations: Strategic partnerships with well-known music artists and DJs are becoming a key marketing strategy, enhancing brand visibility and product appeal. Yamaha Corporation is a prime example, providing equipment to artists for exclusive product showcases.
Regional Insights:
- United States: Expected to dominate the waterproof speaker market with a share of over 79% in 2023, driven by a millennial demographic heavily engaged in the media and entertainment sectors.
- United Kingdom: The surge in smart home technology is projected to boost the waterproof speaker market at a CAGR of over 7.2%, as consumers seek seamless connectivity across devices.
- China: Anticipated to become a major revenue contributor in East Asia, with a projected CAGR of 7.1%, attributed to its robust manufacturing base and competitive pricing strategies.
- UAE: Witnessing rapid growth at 6.7% CAGR, driven by increased demand for wireless audio solutions and advancements in smartphone technology.
Key Companies Profiled
- Bose Corporation
- Harman International
- Apple Inc.
- Yamaha Corporation
- Sony Corporation
- Logitech International S.A.
- LG Electronics Inc.
- Samsung Electronics
- Panasonic Corporation
- Sound United LLC
- Koninklijke Philips N.V.
- LIXIL Group
- Anker
- Ematic
- G-project Gear
- 808 Audio
- ROCKVILLE
- FosPower
- AOMAIS
- Altec Lancing
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Market Segmentation
By Product Type:
- Portable Waterproof Speakers
- Ultra-Portable Waterproof Speakers
By Sound Proposition:
- Directional Speakers
- 360 degrees Speakers
By Application:
- Household
- Institutional
- Offices
- Leisure
By Sales Channel:
- Wholesalers/ Distributors
- Hypermarket/Supermarkets
- Specialty Stores
- Multi-brand Stores
- Online Retailers
- Other Sales Channel
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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