Portable Bluetooth Speaker Market

Global Portable Bluetooth Speaker Market Research Report: By Application (Commercial, Residential, Others), By Distribution Channel (Online, Offline), and Region (North America, Europe, Asia-Pacific, and Rest of the World) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032.

Consumer Goods & Services | January 2024 | Report ID: EMR00518 | Pages: 301

The global portable bluetooth speaker market was valued at USD 12.62 billion in 2023 and is estimated to reach approximately USD 28.41 billion by 2032, at a CAGR of 12.73% from 2024 to 2032.

The portable bluetooth speakers mostly refers to the speakers that receive audio signals using radio frequency waves rather than over audio cables and are easy to carry. They are generally paired (pre-associated) with one or more smartphones, tablets, iPods or computers. Moreover, a wireless portable bluetooth speaker uses the same technology as a car radio. It connects directly to the source of the sound, instead of needing wires.

 

 

PORTABLE BLUETOOTH SPEAKER MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

USD 12.62 Billion

Projected Market Value (2032)

USD 28.41 Billion

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Application, By Distribution Channel& Region

Segments Covered

By Application, By Distribution Channel& Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Portable Bluetooth Speaker Market Drivers:

  • Increasing consumer demand for portable audio solutions

The increasing demand for portable audio solutions. As customers seek greater convenience and flexibility in their audio experiences, there is a growing demand for Bluetooth speakers that allow them to connect their smartphones, tablets, or laptops wirelessly, eliminating the need for cumbersome and limited wired connections. Bluetooth speakers' popularity stems from their freedom of movement and ease of communication. Furthermore, Bluetooth speakers are versatile in terms of usage scenarios, including at home, at work, during outdoor activities, and while traveling, allowing customers to enjoy high-quality audio without the limitations of cables. The capacity to easily travel between places has resulted in an increase in Bluetooth speaker use, making them an essential component of modern living.

 

Opportunities:

  • Advancements in portable bluetooth technology

The constant improvement and evolution of portable bluetooth technology has had a significant impact on market growth. Portable bluetooth audio codecs have improved efficiency, resulting in higher sound quality and lower latency. This means that customers can now enjoy clear and immersive audio experiences while streaming music, watching films, or participating in conference calls via Bluetooth speakers. Furthermore, manufacturers have developed power-efficient chipsets, which contribute to longer battery life, a key aspect in the popularity of portable speakers. Furthermore, substantial developments in Bluetooth communication, such as enhanced range and stability, have improved the dependability of Bluetooth speakers, allowing consumers to connect their devices to Bluetooth speakers without concern of frequent drops or disconnections. These technical developments improve the audio experience and motivate consumers to invest.

 

Restraints:

  • High concern about portable bluetooth speaker battery life and charging

Portable Bluetooth speakers rely on batteries to operate. If there are concerns with battery life or charging convenience, it may be a constraint. Consumers may be cautious to purchase products that require frequent recharging or have batteries that degrade quickly. Elaborate. Furthermore, the battery life is short, users may find it inconvenient, especially during outdoor activities or events where access to power outlets might be limited. Rechargeable batteries in portable Bluetooth speakers can degrade, leading to a reduction in overall battery life.

 

Segment Overview

  • By Application

Based on application, the global portable bluetooth speaker market is divided into commercial, residential, others. The residential segment dominated the market in 2023 and is expected to dominating during the portable bluetooth speaker market in forecast period, due to the demand for improved audio output for a more immersive home entertainment experience has fueled category expansion. Most new televisions include Bluetooth connectivity, which allows for simple pairing with compatible Bluetooth speakers. Furthermore, bluetooth speakers are adaptable and can be utilized in a variety of settings within a home. They are used as background music for social gatherings, parties, or while doing home duties. They are useful for generating a personalized audio experience when relaxing, working out, or simply enjoying leisure time outside. The features of portable Bluetooth speakers, such as wireless connectivity, convenience, portability, and improved sound quality, combined with the affordability and availability of a wide range of speakers, from compact entry-level models to premium options, have increased product adoption for household applications.

  • By Distribution Channel

Based on distribution channel, the global portable bluetooth speaker market is fragmented into online, offline. The offline segment dominated the global portable bluetooth speaker market in 2023. This is attributed to offline stores are preferred due to the visual aspects of shopping that impact purchasing decisions. Offline purchasing offers the unique experience of physically trying out different speakers and assessing their characteristics, as well as a diverse product selection. To prevent the inconveniences of returns or replacements, customers can physically interact with speakers, analyze sound quality, and examine features before to purchasing. This is expected to drive consumers to stores to acquire portable Bluetooth speakers, increasing sales through offline channels.

 

Global Portable Bluetooth Speaker Market Overview by Region

Asia Pacific dominated the portable bluetooth speaker market in 2023 and is expected to retain its dominance over the forecast period. This is owing to bluetooth-enabled devices are becoming increasingly popular due to their versatility and portability. The demand is also driven by tech-savvy consumers who choose wireless speakers that allow them to listen to music while on the go. Furthermore, China is the world's largest e-commerce market, accounting for over half of worldwide transactions, and is likely to drive e-commerce sales of portable Bluetooth speakers in the country.

 

 

Global Portable Bluetooth Speaker Market Competitive Landscape

In the global portable bluetooth speaker market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global portable bluetooth speaker market include

  • HARMAN International 
  • Bose Corporation
  • Sony Group Corporation
  • Marshall Group AB
  • Apple Inc.
  • Bang & Olufsen
  • Logitech
  • Plantronics Inc.
  • VOXX International Corporation
  • Fugoo and others

 

Global Portable Bluetooth Speaker Market Recent Developments

  • In August 2022, Ultimate Ears, a brand under Logitech, has introduced the WONDERBOOM 3, expanding its product range. Constructed using completely recycled polyester fabric, with a significant 31% made from post-consumer recycled plastic, this speaker offers an immersive sound experience. It delivers deep bass and can sustain a full-stereo boom for 14 hours.
  • In April 2023, Bose Corporation has disclosed its intent to sell the Bose Professional Division to Transom Capital Group, a private equity firm. Transom Capital Group will assume control of the commercial installation and conference operations of Bose Professional. Throughout this transition, Bose Professional will receive dedicated support to aid its professional audio customers and continue advancing innovative products and advancements for the market.
  • In February 2023, HARMAN International’s JBL brand launched its Pulse 5 portable speakers in the U.S. The product offers immersive 360° lighting synchronized with music, customizable through the app. Its audio features include a 30 W woofer and 10 W tweeter, covering 58 Hz to 20 kHz. With a 27 Wh battery, it provides 12-hour playback, fast recharge, Bluetooth 5.3 for dual device pairing, and PartyBoost for stereo or linked sound.
  • In March 2021, Sonos partners with Audi on the in-car hi-fi. Sonos unveiled the Sonos Roam, the company's first fully portable Bluetooth speaker that can also function as a full-fledged member of a Sonos system when connected to a home Wi-Fi network.

 

Scope of the Global Portable Bluetooth Speaker Market Report

Portable Bluetooth Speaker Market Report Segmentation

ATTRIBUTE

DETAILS

By Application

  • Commercial
  • Residential
  • Others

By Distribution Channel

  • Online
  • Offline

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Portable Bluetooth Speaker Market Size and Forecast:
  • To identify and estimate the market size for the global portable bluetooth speaker market segmented by lesion site, by application, by product shape, by end user& region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of portable bluetooth speaker between 2024 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global portable bluetooth speaker market
  • Market Influencing Factors: To find out the factors which are affecting the sales of portable bluetooth speaker among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global portable bluetooth speaker market affected by the pandemic
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The global portable bluetooth speaker market forecast period is 2024 - 2032.
According to portable bluetooth speaker market research, the market is expected to grow at a CAGR of 12.73% over the coming years.
North America is expected to register the highest CAGR during 2024 - 2032
Asia-Pacific held the largest share in 2023.
The major players operating in the global portable bluetooth speaker market include HARMAN International, Bose Corporation, Sony Group Corporation, Marshall Group AB, Apple Inc., Bang & Olufsen, Logitech, Plantronics Inc., VOXX International Corporation, Fugoo and others.