The global portable Bluetooth speakers market is anticipated to grow at a CAGR of 12.0% during the forecast period (2022-2028). A portable speaker is an amplifier and loudspeaker with wireless connectivity that is paired with one or more smartphones, tablets, iPods, or computers. A portable Bluetooth speaker allows the user to listen to audiobooks or music while doing any work without the hindrance of messy cables. They receive digital audio from users’ phones and convert it to analog audio just like any other speaker. These speakers can be used in homes, used for small get-togethers and events. Bluetooth speakers work using short-range radio waves and it does not require any internet connection.
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With the increase in the demand for Wi-Fi-based networks along with an increase in the use of wireless connectivity devices, high-quality portable speakers are available. This, in turn, is driving the growth of the global Bluetooth portable speakers market. Additionally, portable speakers are smaller, lighter, and can be moved anywhere. Portable speakers come in many shapes and sizes such as tubes, soundbars, and clips. The change in lithium-ion batteries over the years support the portable speaker market by offering longer playtime. These are some factors driving the growth of the market. However, there are many alternative speakers available at a cost-effective price which restrains the growth of the market.
Some major players in the market include Apple, Inc., Bose Corp., and VOXX Electronics Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market.
Recent Strategic Initiatives
- In June 2020, LG Electronics launched the XBOOM Go portable speaker line-up with its LG XBOOM Go PL Series enabled by meridian’s advanced audio technology to provide premium quality sound speakers to the consumer in the USA.
- In May 2019, Sony Corp. launched its first Bluetooth speakers focused on outdoor usage. The speaker, Sony GTK-PG10, offers 13 hours of battery backup and is equipped with The DSP (Digital Signal Processor) that auto-adjusts the sound based on its surroundings.
- In February 2019, Damson Group launched CORSECA Eternia, which is a retro look Bluetooth speaker.
- In February 2019, Zaap launched Aqua Darkstar wireless Bluetooth speakers.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Sales Channel
- By Usage
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Harman International, Apple, Inc., and Bose Corp, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Portable Bluetooth Speakers Report by Segment
By Sales Channel
- Organized Retail Stores
- Unorganized Retail Stores
By Usage
- Bluetooth Car Speaker
- Indoor/Outdoor Bluetooth Speaker
- Others
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