The Global Portable Bluetooth Speaker Market Will Be Driven by Advancements in Audio Technology During the Forecast Period 2021-2026
Expert Market Research’s new report titled “Global portable bluetooth speaker market Report and Forecast 2021-2026′, gives an in-depth analysis of the global Portable Bluetooth Speaker market, assessing the market based on its segments such as type, sales channel, price range and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): $9.07 billion
- Forecast CAGR (2021-2026): 20%
- Forecasted market size (2026): 27 billion USD
The demand for portable Bluetooth speakers is fueled by developments in audio technology. And the way it is played and enjoyed, continuous technical developments in many audio devices have changed the world of music. The demand for wireless audio products including portable Bluetooth speakers, headphones, soundbars, and microphones has increased in the audio industry. The growth of the portable Bluetooth speaker market is expected to be boosted by this. Growing demand from end-user industries and adoption of portable Bluetooth speakers and other related devices is further helping the industry. Additionally, the growing number of smart phones, especially in North America, is fueling the growth of portable Bluetooth speakers in the market.
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Industry definition and major segments
Mobile wireless audio streaming applies to portable Bluetooth speakers. These devices, such as a tablet, laptop, any Bluetooth-enabled device such as a smartphone, are permitted to play media from a content source. A portable Bluetooth gadget usually contains a rechargeable lithium-polymer battery. It’s simple to bring, use and mount portable Bluetooth speakers.
On the basis of type, the market is split into:
- car speaker
- pocket speaker
- outdoor bluetooth speaker
On the basis of sales channel, the industry can be segmented into:
- Organized sector
- Unorganized sector
- In line
By price range, the industry is categorized into:
- Premium (over $500)
- Mid-range ($500-200)
- Low range (less than 200 USD)
Regional markets for portable Bluetooth speakers include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The growth of the portable Bluetooth speaker market is driven by changing consumer preferences for how they listen to music. The evolution of the format of music towards digital and hi-fi systems encourages producers to design, create and seek innovation in sound quality. Consumers had traditionally opted for high-powered speakers, which had improved sound quality. Currently, however, buyers have turned to innovation and refrained from buying loudspeakers with loud music, as it might annoy their neighbors. This has led to the demand for Bluetooth hi-fi devices, Wi-Fi connections, USB sticks including supported files, plug-ins with different types of card readers, or even a mixture of disco lighting, among others, thus stimulating the growth of portables. Bluetooth speakers on the market. However, due to the risk of hacking, the market may face a hurdle.
Main market players
The major market players are Bose Corporation, Harman International, Apple Inc., Sony Corporation, Koninklijke Philips NV, LG Electronics, Yamaha Corporation and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
Footnote 2: As the novel coronavirus (COVID-19) continues to spread across the globe, our analysts are constantly monitoring the impact of this rapidly evolving situation on markets and consumer buying behaviors. Thus, our latest estimates and analysis on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.
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