The global portable bluetooth speakers market size
is expected to reach USD 2.64 billion by 2025 recording a CAGR of 11.7%,
according to a new report by Grand View Research, Inc. Developments in home
entertainment systems and advent of smart homes and AI- and Wi-Fi-enabled
devices are projected to remain prominent trends in the market over the
forecast years. Usage of streaming media and services on personal internet
devices provide the convenience of music and videos on-the-go, which is also
boosting the market for portable Bluetooth speakers. Shifting preference
towards Wi-Fi-enabled devices owing to great compatibility is also expected to
contribute to the growth.
The technology provides clear sound through
streaming media and internet radio. The emergence of devices with advanced
features, such as multiple pairing of speakers over large connectivity range,
is expected to promote the product. For instance, in August 2018, Sonos, Inc.
launched its smart speaker. In January 2017, POLK AUDIO launched Polk MagniFi
Mini portable speaker with a Chromecast built-in streamer. In September 2018,
Amazon.com, Inc. launched Echo and Echo Dot, a voice-activated speaker.
Changing lifestyle in developing economies like China and India has led to an
increased product demand. Rising popularity of smart home and home theatre
systems is also expected to promote the scope of Bluetooth-enabled devices
including portable speakers.
Moreover, rising proliferation of connected
devices, mobility, and increasing penetration of Wi-Fi network remain key
driving factors for the market. Key companies strives for product innovation to
offer improved convenience and advanced technology. While smaller firms are
entering the product category with same product features to explore the market
scenario. For instance, in January2019, Acoosta launched Acoosta Uno portable
speakers. It has an in-built collection of more than 14000 songs from 1000 artists.
In September 2018, ZOUND INDUSTRIES, under its brand Marshall, launched
Killburn II with a clear mid-range, deep bass, and extended highs. Furthermore,
the companies are focusing on M&A to gain a competitive edge over others.
Access Research Report of Portable Bluetooth
Speakers Market @ https://www.grandviewresearch.com/industry-analysis/portable-bluetooth-speakers-market
Further key findings from the study suggest:
· The commercial application is expected to
witness a CAGR of 11.6% from 2019 to 2025
· Online distribution channel segment is
expected to account for around 39% of the global share by 2025
· Rising importance of e-commerce portals as
selling medium is expected to remain the favorable factor for the segment
· Asia Pacific is expected to be the
fastest-growing regional market over the forecast period. Increasing internet
penetration in India and China is expected to open new avenues for the market
in future
· Major companies in the market include
Samsung Group, Sony Corp., VOXX Electronics Corp., Plantronics Inc., Beats
Electronics, ULTIMATE EARS. Most of these firms are investing in R&D for
product differentiation
Grand View Research has segmented the
global portable Bluetooth speakers market on the basis of application,
distribution channel, and region:
Portable Bluetooth Speakers Application
Outlook (Revenue, USD Million, 2015 - 2025)
·
Residential
·
Commercial
Portable Bluetooth Speakers Distribution
Channel Outlook (Revenue, USD Million, 2015 - 2025)
·
Online
·
Offline
Portable Bluetooth Speakers Regional
Outlook (Revenue, USD Million, 2015 - 2025)
·
North America
o
U.S.
·
Europe
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
·
Central & South America
o
Brazil
·
Middle East & Africa
About
Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.