The newest speaker from Sonos, Roam, made its debut April 20 and has the potential to help the Santa Barbara smart-speaker company grow in 2021 and beyond.
Roam is Sonos’ first attempt into breaking into the portable Bluetooth speaker market, a market that is expected to see an annual growth rate of 11.71% from 2019 to 2025, according to a 2018 report by Grand View Research. That report estimated revenue for the portable Bluetooth speaker market at about $1.21 billion in 2018, projected to grow to around $2.6 billion in 2025.
“We have an incredible growth opportunity ahead of us, fueled by the launch of Roam,” Hadley Simmons, manager of product marketing at Sonos, told the Business Times via email. “Sonos customers have registered 32 million products in 11 million homes globally — this represents only 9% of the addressable market across our core markets.”
Simmons added that the hope for Roam is attracting “millions of new customers.”
One of Roam’s selling points is its price point. It will be the company’s most affordable speaker, starting at $169. The company’s first wireless speaker, the much larger Move, retails for $399, while the One sells for $199 and is often part of a home system with at least two speakers. Those systems can easily run more than $1,000.
“I think the challenge always for Sonos was they always had a premium product at a premium price,…