Global Portable Bluetooth Speakers Market by Application (Commercial, Residential), by Distribution Channel (Offline, Online) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2018, the global market for portable Bluetooth speakers was valued at USD 1.21 million. It is expected to grow at a CAGR 11.71% between 2019 and 2025. Consumers can now use Bluetooth speakers much more easily and conveniently thanks to easy access to streaming services online and large data storage on smartphones, tablets and laptops. While small and medium-sized speakers are easy to transport and use anywhere, large-sized devices can be used at home.

The demand for wireless connectivity features in urban homes has increased due to the increasing penetration of Wi-Fi networks and the proliferation of connected devices. The market is driven by speakers' ability to provide wireless connectivity. This trend has aided in the development smart speaker. The devices saw a worldwide 50% increase in sales from 2016-17 to 2018,19.

In all speaker categories, including sound bars, wall units, and mobile docking speakers have been integrated improved wireless connectivity functions over the last few years. The improved video quality encourages a higher demand for high-end speakers. A changing consumer lifestyle and increased entertainment needs have led to a rise in high-end home theatre systems. It creates a potential market for subwoofer systems and in-wall speakers as well as sound bars.

To increase their sales, prominent companies have focused on technology and quality. Harman International Industries, Inc. launched JBL GO 2, Bluetooth speakers with waterproof design in May 2018. IMS Mercantiles Pvt. was also launched in November 2018. Ltd. launched the Digitek Portable Trolley Bluetooth Speakers Mivi in three models, including Dubbed Moonstone, Dubbed Octave and Raom. Sony Corp. introduced the SRS-XB40 portable Bluetooth speaker, which is water-resistant. 4COM Technologies' flagship speaker Sonic Angle 1 was launched in India by the company in April 2019.

Application Insights

In 2018, residential was the most popular application sector. The market for portable Bluetooth speakers has increased with the increasing adoption of smart homes and home theatre systems. This market is driven by a changing consumer lifestyle. To stay competitive, manufacturers focus on product launches and continuous R&D.

Harman International Industries, Inc., for instance, launched JBL Go+ Bluetooth speaker in March 2019. It has enhanced features such as noise cancelling speakerphone to make conference calls. Sound One also launched the portable waterproof Bluetooth speaker DRUM. ULTIMATE EARS introduced Boom 3 in January 2019 in three dual-toned colors and a convenient button for music control.

From 2019 to 2025, the CAGR for commercial applications is expected to be 11.6%. Both niche and commercial applications have helped to drive demand from the defense and automotive industries. The industrial sector is also a major driver of demand for commercial devices. It is expected that new product launches for commercial applications will continue to be a major market trend. Intex Technologies introduced high-decibel 4.1 speakers, IT Star 14000 SUF in January 2016. They also have Bluetooth connectivity.

Distribution Channel Insights

The global market leader in offline channels was reported to have a revenue of USD 7444.8 million. To get the exact same experience, offline channels provide detailed analysis of technology used in products. Marshall Amplification PLC and Xiaomi Corp. and Apple Inc. owned retail outlets in all regions, providing convenience and easy access to customers.

The fastest projected CAGR for online channels is 11.9% between 2019 and 2025. This is due to an increasing number of people using smart phones and the rising population. The U.S. and U.K. are technologically advanced regions that play a significant role in this segment's growth. These channels provide the latest devices. According to Internet World Stats in 2019, Asia was home to 50.4% internet users worldwide.

The rapidly expanding e-commerce market around the world has allowed customers to compare products from different companies and thereby boosting online sales. E-commerce portals such as Amazon, Alibaba and Ebay offer the latest products at discounted prices. They also provide value-added services like easy returns and Cash On Delivery (COD).

Regional Insights

North America was the largest and accounted 31.5% global share in 2018. It is expected that the region's high internet penetration rate of 89.1% will continue to be a positive factor. A key trend is the high market visibility of smart Bluetooth speakers in America and Canada. The region's growth is also influenced by the preference for Wi-Fi and AI-enabled Bluetooth speaker.

Asia Pacific will experience the fastest CAGR at 13.0% between 2019 and 2025. The market is seeing a shift in preference for technology-led premium products, such as those from India and China. The region will see an increase in sales of smart devices such as smartphones, tablets and phablets. This will lead to a greater demand for music on the go, which in turn will encourage the use of portable products.

Market Share Insights & Key Companies

Harman International Industries, Inc., Apple, Inc., VOXX Electronics Corp., Plantronics, Inc., Beats Electronics, Sony Corp., Samsung Group, ULTIMATE EARS, and 4COM Technologies are key players in this market. Key market players expect product innovation to continue as a major strategy.

Truvison Industries Pvt. Ltd. launched the 400 BT2.1 Bluetooth speaker with a sub-woofer, and two satellite speakers. Damson Group released CORSECA Eternia in February 2019. It is a retro-looking Bluetooth speaker. Zaap introduced Aqua Darkstar wireless Bluetooth speakers in February 2019.

The Portable Bluetooth Speakers Market Report Scope

The Report Covers Certain Segments

This report predicts revenue growth and volume growth at the global, regional and country level. It also provides analysis of industry trends for each sub-segment from 2015 to 2025. Grand View Research has divided the global portable Bluetooth speaker market report by application, distribution channel, region.

• Application Outlook (Revenue USD Million, 2015-2025)

  • Residential

  • Commercial

• Distribution Channel Outlook (Revenue USD Million, 2015-2025)

  • Online

  • Offline

• Regional Outlook (Revenue USD Million, 2015-2025)

  • North America

    • U.S.

  • Europe

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

These are the most frequently asked questions about this report

b. The market for portable bluetooth speakers was valued at USD 1.31 Billion in 2019, and is forecast to grow to USD 1.44 Billion by 2020.

b. Global portable bluetooth speakers market will grow at a compound annual rate of 11.7% between 2019 and 2025, reaching USD 2.63 billion in 2025.

b. With a 31.2% share in 2019, North America was the market leader in portable bluetooth speakers with a b. This can be attributed to the increasing market visibility for smart bluetooth speakers and smart homes systems in Canada and the U.S.

b. Apple, Inc., Bose Corp., VOXX Electronics Corp., Plantronics, Inc., Beats Electronics, Sony Corp., Samsung Group, ULTIMATE EARS, and 4COM Technologies are some of the key players in the portable Bluetooth speakers market.

b. Market growth is being driven by increased access to streaming services online and easy access to large data storage on smartphones, tablets, laptops. This encourages the use of Bluetooth speakers.

Up Market Research published a new report titled “Portable Bluetooth Speakers Market research report which is segmented by Application (Commercial, Residential), by Distribution Channel (Offline, Online), By Players/Companies Inc; Beats Electronics; Sony Corp; Samsung Group; ULTIMATE EARS; and 4COM Technologies Product innovation is expected to remain a key strategy among key market participants, Harman International Industries, Inc; Bose Corp; VOXX Electronics Corp; Plantronics, Inc; Apple”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Portable Bluetooth Speakers Market Report Segments:

The market is segmented by Application (Commercial, Residential), by Distribution Channel (Offline, Online).

Portable Bluetooth Speakers Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Portable Bluetooth Speakers Market

Overview of the regional outlook of the Portable Bluetooth Speakers Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Portable Bluetooth Speakers Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Portable Bluetooth Speakers Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Commercial

                2. Residential

                1. Offline

                2. Online

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Portable Bluetooth Speakers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Portable Bluetooth Speakers Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.