30-July-2019: 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.
In
depth research report on 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)
·
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·
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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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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