Global Portable Bluetooth Speaker Market Size, Share & Industry Trends Analysis Report By Price Point (Economy, Mid-Range, and Premium), By Application (Residential, and Commercial), By Distribution Channel, By Regional Outlook and Forecast, 2023 - 2030

Global Portable Bluetooth Speaker Market Size, Share & Industry Trends Analysis Report By Price Point (Economy, Mid-Range, and Premium), By Application (Residential, and Commercial), By Distribution Channel, By Regional Outlook and Forecast, 2023 - 2030

The Global Portable Bluetooth Speaker Market size is expected to reach $25.2 billion by 2030, rising at a market growth of 11.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,26,790 thousand Units, experiencing a growth of 10.7% (2019-2022).

The rising popularity of the consumption of audio podcasts is evaluated to have a significant contribution. The North America region would witness 1/4th of the total market share by 2030. Owing to the continued demand for wireless audio solutions, the increasing popularity of outdoor activities, and a growing consumer preference for smart features in their audio devices. Furthermore, the increasing number of people involved in outdoor outings has resulted in the consumption of the product owing to its portability. Some of the factors affecting the market are increasing demand for portable devices, rapid improvements in sound quality and signal disruptions and limited Bluetooth range.

Modern lifestyles are increasingly mobile, with people constantly on the move. Whether commuting, traveling, or simply moving from room to room, consumers want audio solutions that seamlessly adapt to their mobile lifestyles. Portable Bluetooth speakers are compact, lightweight, and easy to carry, making them perfect for users who want to enjoy music without the hassle of bulky audio equipment. They can be effortlessly transported in bags, backpacks, or even pockets. The demand for portability aligns with the desire for wireless audio solutions. Manufacturers continue to innovate in design, sound quality, durability, and features to meet the demands of users who prioritize portability. The rising demand for portability aligns with consumers' changing lifestyles and preferences, making portable Bluetooth speakers a popular choice for those seeking versatile and wireless audio solutions. This demand has played a pivotal role in driving the growth of the market. Additionally, when portable Bluetooth speakers deliver clear and high-fidelity audio, users are likelier to use them regularly and recommend them to others. Manufacturers that prioritize sound quality can differentiate their products in a competitive market. Audiophiles with a keen appreciation for high-quality audio are willing to invest in portable Bluetooth speakers offering superior sound performance. These consumers often seek products that reproduce music with precision and accuracy. Thus, sound quality improvements have been a key driver in the growth of the market.

However, Bluetooth signals can be susceptible to interference from other electronic devices or physical obstacles like walls. This can result in a limited Bluetooth range and signal disruptions, impacting the quality of the listening experience. Bluetooth connections can occasionally drop or become unstable, causing audio interruptions. These connectivity issues can frustrate users and diminish their satisfaction with portable Bluetooth speakers. Not all devices are compatible with all Bluetooth speaker models. Compatibility issues can arise if a user's smartphone, tablet, or laptop does not support the same Bluetooth standard or profile as the speaker, making it challenging for users to connect and use their devices.

Price Point Outlook

By price point, the market is classified into economy, mid-range, and premium. The mid-range segment acquired a substantial revenue share in the market in 2022. Mid-range speakers generally offer improved sound quality compared to budget options. They often feature enhanced drivers and audio processing for more balanced and fuller sound. Mid-range speakers typically provide longer battery life than. Many mid-range speakers include built-in voice assistants like Amazon Alexa or Google Assistant, allowing users to control smart devices and access information using voice commands. These speakers may include extra features like stereo pairing, customizable lighting effects, and mobile app compatibility for remote control and customization. Mid-range speakers are designed to offer a good balance between price and features. They are typically more affordable than premium models.

Application Outlook

On the basis of application, the market is segmented into commercial and residential. The commercial segment acquired a substantial revenue share in the market in 2022. The commercial segment is driven by its increased use in retail stores, restaurants, health clubs, theme parks, educational facilities, hospitality venues, music cafes, and leisure spaces. The expanded outdoor recreational activities and adventure tourism have driven the demand for durable and portable audio solutions. Some of the speakers in the market, such as Furrion LIT Speaker, cater to this trend, ensuring the speaker can withstand the rigors of outdoor environments.

Distribution Channel Outlook

Based on distribution channel, the market is fragmented into online and offline. The online segment garnered a significant revenue share in the portable revenue share in 2022. The availability of various portable Bluetooth speakers from different brands and easy brand comparison. Furthermore, online channels offer discounts on premium and mid-range products, making them accessible to a broad demographic. Consumers can choose from basic budget models to premium offerings with advanced features. The quick expansion of the global e-commerce industry has empowered consumers to compare products from different companies, thus boosting online sales.

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region registered the largest revenue share in the market. The increasing adoption of Bluetooth-enabled devices can be attributed to their versatile adaptability and convenient portability features. The demand is also fueled by tech-savvy consumers who prefer wireless speakers that allow them to listen to music on the go. China is one of the world's largest e-commerce sectors, accounting for nearly half of global transactions, which is expected to drive the e-commerce sales of portable Bluetooth speakers in the country.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Harman International Industries, Inc., Bose Corporation, Sony Corporation, Marshall Group AB(Zound Industries International AB), Apple Inc., Bang & Olufsen A/S, Logitech International S.A, Plantronics, Inc., VOXX International Corporation and Fugoo.
 
Strategies Deployed in Portable Bluetooth Speaker Market

May-2023: Sony Electronics Inc. a Subsidiary of Sony Corporation introduced 2 new wireless speakers called as an SRS-XV800 and the SRS-XB100. SRS-XV800 comes with a built-in battery of up to 25 hours of listening time and a user get 3 hours of playing time from just 10 minutes of charging and on the other hand SRS-XB100 is a small wireless portable speaker that comes with a 16 hours of battery life, water resistant and IP67 rating8.

Sep-2022: Sony Electronics Inc. a subsidiary of Sony corporation unveiled a new X-series SRS-XV900 Speaker. The new SRS-XV900 comes with a up to 25 hours of battery life, USB connectivity and Bluetooth pairing with the help of party connect via Bluetooth which allow user to connect up to 100 compatible Sony Bluetooth Speakers.

Jan-2023: Apple Inc. Introduced 2nd generation Homepod, a next level acoustic with an iconic design. Homepod comes with an Apple innovations and AI support known as Siri. Homepod packed with a lot of technology such as room sensing technology which recognizes sound reflection from nearby surface, and integration with Apple ecosystem.

Sep-2023: Bang & Olufsen Joined hand with Ferrari S.P.A, an Italian luxury Sports car manufacturer based in Maranello, Italy. Under this collaboration Bang & Olufsen create a series of audio devices, called "The Ferrari Collection". This collection consist of 4 devices and all the 4 devices will be special version of Bang & Olufsen existing Speakers, headphones and earphones namely Beosound Explore, Beoplay EX, Beoplay H95 and Beosound2.

Sep-2023: Ultimate Ears, a brand of Logitech international S.A Unveiled a new product called EPICBOOM to its existing lineup of portable Bluetooth Speakers. This product made of 100% post-consumer recycled polyster fabric and a minimum of 59% post-consumer recycled plastic and come with up to 17 hours of playtime, a Bluetooth range of 55 meters, one-touch NFC features and IP67 rating.

Oct-2021: Bose Corporation unveiled a new product called Soundlink Flex wireless Bluetooth speaker that comes with a portable lightweight design and IP67 build quality and up to 12 hours of battery life.

Scope of the Study

Market Segments covered in the Report:

By Price Point (Volume, Units, USD Billion/Million, 2019-2030)

• Economy
• Mid-Range
• Premium

By Application (Volume, Units, USD Billion/Million, 2019-2030)

• Residential
• Commercial

By Distribution Channel (Volume, Units, USD Billion/Million, 2019-2030)

• Offline
• Online

By Geography (Volume, Units, USD Billion/Million, 2019-2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Harman International Industries, Inc.
• Bose Corporation
• Sony Corporation
• Marshall Group AB (Zound Industries International AB)
• Apple Inc.
• Bang & Olufsen A/S
• Logitech International S.A
• Plantronics, Inc.
• VOXX International Corporation
• Fugoo

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