Global Portable Bluetooth Speakers Market Report, Insights and Trends, Positive and Negative Factors, Areas to Focus on, Potential Markets, Key Developments, Segments and Verticals, and Forecast 2020 – 2029

Global Portable Bluetooth Speakers Market Overview

"The Portable Bluetooth Speakers Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

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Bluetooth speakers are wireless portable audio devices that receive audio signals over low-power radio waves. The receiver should be within the defined range of wireless transfer capability of the speaker. Such gadgets are allowed to play media from different sources. Bluetooth speakers are employed to listen to songs and receive and send data or files without needing wire.

Dynamics: Global Portable Bluetooth Speakers Market

With sizeable share in the audio technology category, witnessing widespread adoption in recent times. Changing consumer demands, availability in different size and shape are some of the factors pushing manufacturers to innovate to attract more consumers. Rapid innovations and increasing R&D activities have boosted demand in the Bluetooth speakers market. Increasing preference towards portable devices due to attractive and durable designs are supporting the growth of the market.

Thus, the focus of companies inkling towards manufacturing these devices with dynamic product design and quality. Recent trend shows that, portable speaker ranges in different shapes such as tubes, boxes and others. In addition, consumer’s preference for stylized design and demand for LED integrated speakers driving the market growth. Irrespective of size, these electronic devices are loud and offer playback time of around 8 – 15, and this feature enables usage of the speakers for indoor as well as outdoor applications.

Additionally, advancements implementation of Internet of Things in the Bluetooth speakers is one of the key recent developments that has resulted in high demand for products, thereby boosting the target market growth. Moreover, High speed IPv6 connectivity, and high privacy while playing music offered by recently launched speakers – Bluetooth 4.2 – is a factor anticipated to create high revenue growth opportunities for players in the market. Latest models of portable Bluetooth speakers come with power saver features, which ensure that they run for longer and are environment friendly.

Rising disposable income and growing economic conditions drive global demand for Portable Bluetooth Speaker. Proliferation of wireless technologies, coupled with increasing penetration of smartphones and other smart devices expected to drive the demand for portable Bluetooth speaker. Moreover, technological advancements in the field of audio devices, and growing popularity of high-tech devices such as dual-tone microphones, sound bars, and wireless headphones are factors expected to have positive impact on portable Bluetooth speakers demand and adoption rates.

Latest trend shows that, focus towards efficient production techniques that minimize manufacturing cost and eradicate risks associated with production process is projected to help market players generate possibilities to gain higher and faster revenue growth in the years to come.

Industry News:

• In August 2018, Sony launched two new wireless speakers SRS-XB501G Extra Bass Wireless Speaker and the SRS-XB01 Portable Bluetooth Speaker.
• In addition, in 2017, Samsung India launched portable Bluetooth speakers – Level Box Slim, ‘Bottle' and 'Scoop' – and expanded headset products portfolio by launching two products – Level Active and Rectangle Headset.

Regional Analysis: Global Portable Bluetooth Speakers Market

North America market is estimated to record notable revenue share in the global market as it is referred as one of the technology-based solutions market. In addition, rising adoption of smart devices and connected homes is among the key factors contributing to growth of the North America market.

Increasing adoption of smartphones, and presence of high-speed connectivity, and advent of 5G Internet with higher bandwidth are some of the factors supporting growth of the North America market. According to Consumer Technology Association, these devices have been steadily replacing old iPod and MP3 players charging docks. Demand for these audio technologies declined in 2016, with revenue decreasing by 5%, and from US$ 7.4 Bn the value reached at US$ 3.3 Bn as compared to the previous year which resulted in higher sales of headphones and Bluetooth-enabled speakers.

Global Portable Bluetooth Speakers Market Segmentation:

Segmentation by Charging Technology:

• AC/DC
• AC-only
• DC-only

Segmentation by End-use Application:

• Residential
• Commercial

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa