"Assisting You in Establishing Data Driven Brands"

Portable Bluetooth Speaker Market Size, Share & Industry Analysis, By Audio Output (1-5 Watt, 5-8 Watt, 8 Watt and above), By Battery Duration (1-5 hours, 5-10 hours, 10 hours and above), By End-Use (Personal Use, Commercial Use) And Regional Forecast 2022-2029

Region : Global | Report ID: FBI105011 | Status : Ongoing

 

KEY MARKET INSIGHTS

Portable bluetooth speaker is embracing a market expansion as consumers are progressively drifted towards the product offerings of decent sound quality at a small wireless device. Its simple setup, non-requirement of installation, and its energy efficiency is helping to entice consumers to the product. The increasing manufacturing of smart portable bluetooth speaker, which comes with the voice-controlled capability and is also water and dustproof, is acting as an opportunity for the market growth. For instance, Ultimate Ears comes up with a portable bluetooth speaker called Blast that has a voice-controlled capability, with Amazon Alexa built-in functionality, and is also water, dust, and drop-proof. 


The booming growth of the music industry, resulting to increase in the usage of portable bluetooth speakers among consumers around the world, is acting as a driving factor for the market growth. For instance, according to the International Federation of the Phonographic Industry data published, is declaring that in 2018 the global recorded music has experienced a rise of 9.7 percent and is assessed to generate a revenue of USD 19.1 billion. Moreover, the product popularly being used on social occasions such as family and friendship gatherings, birthday parties, achievement celebrations, and others is helping to accelerate the demand.


Nevertheless, the availability of substitute products such as wired speakers available in a reasonable price as compared to portable bluetooth speaker is acting as a restraining factor for the market growth. 


Key Market Driver -

The thriving growth of music industry led to surge the usage of the product is acting as a driving factor for the market growth.

Key Market Restraint -

The substitute products available in a less price is hampering the market growth.


Key Players Covered:


Bose Corporation, Sony Corporation, Harman International Industries Inc., Apple Inc., VOXX Electronics Corp.,  and others are the key companies operating in the portable bluetooth speaker market.


The portable bluetooth speaker market is segmented by audio output, battery duration, end-use, and geography.


On the basis of audio output, the market is fragmented into 1-5 watts, 5-8 watts, and 8 watts and above. 1-5 watts are projected to be the leading segment owing to the product being available in a small pocket size. Thus, this makes it easy to carry around as it still possesses the audio output desire by most consumers.


Based on battery duration, the market is grouped into 1-5 hours,5-10 hours, and 10 hours and above. The 5-10 hours is estimated to be the dominant shareholder on account of the product being able to meet the playtime desire by most users. Likewise, the growing improvement on battery technology led to reducing the cost of the product surges the demand for this segment.


By end-use, the market is bifurcated into personal use and commercial use. Personal use is anticipated to be the prominent segment owing to its lightweight and easy portability. In addition, portable bluetooth speakers still not capable to compete with the audio quality of high voltage fixed speakers reduces the usage in commercial settings.


Regional Analysis:


On the basis of region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.


North America is anticipated to hold a leading share and is projected to continue throughout the forecast period of 2021-2028. The growing popularity of the consumption of audio podcasts is evaluated to have a significant contribution. For instance, according to the Podcast Hosting. Org data released, October 2020, is declaring that  55 percent of the United States population or 155 million people has listened to the podcast. Furthermore, the increasing number of people involved in outdoor outing has resulted to drive the consumption of the product owing to its portability. For instance, according to the Outdoor Industry Association data released, in 2018 the United States population went on 1 billion fewer outdoor outings.


Asia Pacific is evaluated to exhibit a vital impact in the portable bluetooth speaker market, owing to the gradual decrease in the youth unemployment rate give rise to higher purchasing power is escalating the usage of the product. For instance, according to the International Labour Organisation, in 2019, the youth unemployment rate is 27.6 percent, which is a decrease of 0.2 percent from the prior year. Furthermore, the youth population of this region increasingly incline towards technological devices assist to escalate the demand. For instance, according to the United Nations Economic and Social Affairs, in 2019 Central and Southern Asia has 361 million, and Eastern and South East Asia has 307 million youth population.


To gain extensive insights into the market, Request for Customization


Segmentation


























 ATTRIBUTE


  DETAILS

By Audio Output




  • 1-5 Watt

  • 5-8 Watt

  • 8 Watt and above



By Battery Duration




  • 1-5 hours

  • 5-10 hours

  • 10 hours and above



By End-Use




  • Personal Use

  • Commercial Use



By Geography




  • North America (U.S., Mexico, and Canada)

  • Europe (Germany, Italy, Spain,  France, U.K., Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, and Rest of ME&A)



Key Industry Developments-



  • In September 2019, Sound One announced the launch of its bluetooth speaker which comes with bluetooth 5.0 technology and has a working distance of 10-15 meter.

  • In September 2019, JBL declared the introduction of its new bluetooth speaker in India called Flip 5. The speaker has 12 hours of continuous playtime that also  has the ability to tolerate water submersion.


  • Ongoing
  • 2021
  • 2018-2020

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $7850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Consumer Goods Clients

Edenred
Radico
SPG
Wepa
Health Canada

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X