The waterproof speaker market is surging, with analysts eyeing a A$20 billion market in five years.
According to a report from Future Market Insights, the waterproof speaker market is currently estimated at $13.6 billion and is likely to cross the A$20 billion mark by 2027.
The market has reflected a CAGR of 6.3 per cent between 2013 to 2021, and makes up somewhere between 5 and 15 per cent of the global speaker market.
“Technological advancements in several audio devices has changed the manner in which people appreciate and play music,” explains FMI.
“An increase in the demand for wireless-based audio devices, which include portable waterproof speakers with different connectivity options such as Bluetooth & Wi-Fi, sound-bars, headphones and microphones, has been witnessed in the audio industry.
As FMI explains, the entry level for such technology is getting lower, from both a price point and a marketing perspective.
“The manufacturers of waterproof speakers have also adopted some key differentiating strategies,” the report continues.
“For instance, brands operating in the market are targeting mass consumers. They are also offering waterproof speakers with advanced features at competitive prices.”
