Neckband Speakers Market Size (2024 – 2030)

The Global Neckband Speakers Market was valued at USD 5.25 billion in 2023 and is projected to reach a market size of USD 10.05 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 9.72%. 

The Neckband speaker provides convenience and an immersive sound experience. These portable devices are designed to easily hang around your neck and send music or audio directly to your ears without needing headphones or earbuds. Built-in speakers sit close to the ear, providing a unique listening experience that allows users to enjoy their favorite music, podcasts, or phone calls while remaining aware of their surroundings. The neckband speaker features a lightweight, ergonomic design that provides comfort over long periods, perfect for outdoor activities, sports, or hands-free phone calls. Many models also feature Bluetooth connectivity for connecting to smartphones or other devices. Some neck speakers also have additional features like water resistance, noise reduction, or a long-lasting battery, making them very versatile. Whether for entertainment or work, neckband speakers offer a convenient and enjoyable way to enjoy audio content anytime, anywhere. 

Key Market Insights:

North American region has the largest and almost USD 1.89 billion of total market revenue and is expected to witness a CAGR of 12.76% whereas, the European and Asia-Pacific region has a total share of USD 2.625 billion. Middle East and African regions witness a relatively lower CAGR of around 6.47% this could be due to logistical challenges. Key players in the market include established audio brands as well as emerging players, leading to intense competition and continuous innovation in product offerings. The market exhibits varying dynamics across regions, with North America and Asia-Pacific emerging as key growth markets due to high consumer adoption and increasing disposable income. In Q1 2023, India’s neckband market shipments grew 4% YoY. Integration of advanced features like water resistance, noise cancellation, and voice assistants enhances the appeal of neckband speakers, catering to the needs of tech-savvy consumers.

Neckband Speakers Market Drivers:

The rise of Active Lifestyles fuels market growth.

One of the main drivers of the global neckband speaker market is the increasing lifestyle of consumers. As more and more people participate in activities such as exercise, running, cycling, and outdoor adventures, there's a growing demand for audio solutions that seamlessly integrate into these activities. Neckband speakers allow you to listen to music or podcasts hands-free and comfortably while working. Their ergonomic design ensures they stay in place during movement, unlike headphones or earbuds that can fall off or cause discomfort. This trend is especially prevalent among Generation Y and Generation Z consumers, increasing the demand for speakers that focus on their lifestyles.

Technological Advancements accelerate the market growth.

Continuous advancements in wireless technology, especially Bluetooth connectivity, are playing a significant role in the growth of the neckband speaker market. Bluetooth-enabled neckband speakers give users the freedom to stream audio from their smartphones, tablets, or laptops without the need for wires or cables. Additionally, improved battery performance helps extend recovery time and resolve customers' concerns. Additionally, the integration of advanced features such as waterproofing, noise canceling, and voice assistants further increases the appeal of these neck speakers to consumers, attracting tech-savvy consumers looking for innovative audio solutions. 

Urbanization and Commuting Habits act as a Catalyst for the Neckband Speakers market.

Increasing urbanization and changing consumer behavior around the world are also increasing the demand for speakers. In urban areas where public transportation or walking is common, people are looking for easy, portable audio solutions that allow them to do multiple tasks on the go. Neckband speakers offer a hands-free alternative to headphones, allowing travelers to listen to music, podcasts, or phone calls without blocking noise or interfering with situational awareness. This difference is especially true in crowded cities, where working hours are long and customers appreciate products that increase their productivity and quality during bus travel.

Neckband Speakers Market Restraints and Challenges:

Sound Quality Limitations restrain the market growth.

Despite advances in technology, neckband speakers often face limitations in providing the same sound as headphones. The size and proximity of speakers to the ear can limit the depth and richness of sound output. Additionally, other factors such as ambient noise and the design of the neckband can also affect audio clarity. Consumers who value sound most may find neck speakers inferior to other audio devices, leading to a lack of adoption.

Comfort and Ergonomics prove to be a challenge in the Neckband Speakers sector.

While a neck speaker provides a hands-free and wearable design, it can be difficult to ensure a comfortable and ergonomic fit for every user. The shape and size of the neck strap may not suit everyone's neck shape and may cause discomfort or irritation when worn for a long time. Additionally, the weight of the speaker and the materials used in its construction can also affect comfort. Consumers with special preferences or physical sensitivities may have difficulty finding speakers that meet their comfort level, which may prevent them from adopting this solution.

Competitive Pricing Pressure hinders the market growth.

The neck-mounted speaker market is highly competitive, many brands offer different products at different price points. Consumers' price perception, combined with the availability of other audio products such as wireless earbuds and headphones, results in high prices for companies. While some customers may be willing to pay a premium for features like waterproofing or noise reduction, others may prefer basic features and opt for more expensive options. This pricing pressure can impact the company's revenue and cause product or operations disruption to compete in the market.

Neckband Speakers Market Opportunities:

The global neckband speaker market has many growth and innovation opportunities driven by various factors. One of these factors is that customers around the world are increasingly using technology and voice assistant solutions. With the popularity of smartphones, tablets, and other mobile devices, there is a growing need for convenient, hands-free audio accessories to complement users' busy lifestyles today. Neckband speakers feature a versatile solution that allows users to enjoy music, podcasts, or calls while staying or traveling without the need for cables or bulky headphones.

Additionally, advancements in technology such as Bluetooth connectivity and extended battery life have expanded the neckband speaker market. These technological advances enable integration with various devices and offer users a more uninterrupted entertainment time. Moreover, the combination of waterproofing, noise reduction, and audio performance enhances the appeal of the neck-mounted speaker and meets the various needs and preferences of customers. The global neckband speaker market is expected to continue growing and expanding in the coming years as manufacturers continue to innovate and differentiate their products.

NECKBAND SPEAKERS MARKET REPORT COVERAGE:

Neckband Speakers Market Segmentation by Application

• Sports & Fitness 

• Leisure & Entertainment

• Commute & Travel

• Work & Productivity

• Others

In 2023, based on the Application, Sports & Fitness hold the largest market share with over 40% of the market. Neckband speakers are becoming increasingly popular among sports and fitness enthusiasts who want hands-free audio while exercising, running, cycling, or other physical activities. These speakers provide safety and comfort, allowing users to enjoy music or podcasts while doing workouts.

In addition, advances in technology have led to the development of neckband speakers with features suitable for sports and work safety, such as waterproof backing, long battery life, and advanced durability. These factors have led to the dominance of sports and fitness in the global neck speaker market as manufacturers continue to innovate and follow trends.

Neckband Speakers Market Segmentation by Distribution Channel

• Online Retail

• Offline Retail Stores

• Third-Party Retailers

• Specialty Stores

In 2023, based on the Distribution Channel, Online Retail holds a significant portion of the market share and is expected to grow at an 11.79% CAGR during the forecast period. Online shopping has many benefits that resonate with today's consumers, including convenience, accessibility, and a wide selection of products. Customers can rent and purchase neckband speakers from the comfort of their homes or on the go without going to a store. E-commerce platforms and online businesses offer a wide range of speakers from different brands, allowing customers to compare features, read reviews, and make a purchasing decision. In addition, online stores offer competitive prices, discounts, and promotions, allowing consumers to purchase neckband speakers online.

Moreover, the increasing penetration of internet connectivity, the proliferation of smartphones, and the growing trend of digital shopping have contributed to the dominance of the online retail channel in the neckband speaker market. Manufacturers and retailers are investing in digital marketing strategies, social media, and consumer e-commerce platforms to enhance online business and capture a larger market. Overall, online retailers continue to shape the world's neck-mounted speaker market by following the preferences and convenience of modern-day consumers.

Neckband Speakers Market Segmentation: Regional Analysis

• North America

• Asia-Pacific

• Europe

• South America

• Middle East and Africa

In 2023 based on Region, North America has the largest market share, with over 35% market share. North America is a key market for speakers driven by high-tech consumers, strong purchasing power, and busy lifestyles. In major markets such as the United States and Canada, many technology consumers value the convenience and innovation of audio equipment. Additionally, the presence of leading manufacturers, luxury retailers, and strong e-commerce platforms also contribute to the growth of the neckband speaker market in this region.

The neck-mounted speaker market in the Asia-Pacific region is growing rapidly, driven by factors such as increasing disposable income, increasing urban population, and increasing access to smartphones. Countries such as China, Japan, South Korea, and India are important markets for speakers driven by youth, changing consumer preferences, and lifestyle culture. Moreover, the presence of leading electronic companies, new business ventures, and competitive pricing strategies are also driving the growth of the neckband speaker market in Asia Pacific.

Europe is another important region in the global neckband market, characterized by diverse consumers, strong demand for audio equipment, and increasing use of wireless technology. There is a large market for neck-mounted speakers in countries such as the UK, Germany, and France, driven by factors such as urbanization, lifestyle, and interest in sports. Additionally, strict regulations on product quality and safety standards ensure that the best products are available on the European market.

COVID-19 Impact Analysis on the Global Neckband Speakers Market:

The COVID-19 pandemic has had a major impact on the global neckband speaker market. Initially, production and exports were affected by quarantines, travel restrictions, and labor shortages. This led to delays in the production, shipping, and delivery of neck speakers, hindering the growth of the market. Additionally, consumer spending patterns are also changing as economic uncertainty causes people to prioritize purchasing essentials over non-essential purchases such as audio equipment. For this reason, the demand for speakers decreased for a while, especially in regions affected by the pandemic. But as remote work, virtual learning, and indoor gaming become more commonplace, demand for home entertainment devices, including neckband speakers has increased. Manufacturers responded by focusing on online sales, advertising, and highlighting products such as noise cancellation and automated controls. Looking ahead, the global market is expected to recover, the economy stabilizes and consumer confidence returns.

Latest Trends/ Developments:

The global neckband speaker market has seen several trends and innovations that have shaped the market landscape. One notable trend is the integration of advanced features such as active noise canceling (ANC) and voice assistance. The manufacturer has incorporated ANC technology in the speakers to provide users with an immersive audio experience by reducing ambient noise. Additionally, integration with voice assistants such as Siri and Google Assistant enables hands-free operation, increasing convenience and usability.

In addition, the importance given to sustainability and environmentally friendly products in the production of neck loudspeakers is increasing. Manufacturers are exploring recycled materials, biodegradable components, and energy-efficient production processes to reduce environmental impact and appeal to green consumers.

Key Players:

1. Sony Corporation

2. Bose Corporation 

3. boAt (Imagine Marketing Ltd.) 

4. Sennheiser V + V GmbH & Co. KG 

5. Oppo

6. Zebronics

7. Xiaomi Corporation 

8. Philips

9. Intex Technologies 

10. Marshall Group AB