Portable Speakers Market to Grow with a CAGR of 11.9% Globally through to 2028
Rising demand for smart speakers and the increasing
popularity of outdoor activities are factors driving the global portable
speakers market in the forecast period 2024-2028.
According to TechSci Research report, “Global Portable
Speakers Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Portable Speakers Market stood at USD 6.74
billion in 2022 and is anticipated to grow with a CAGR of 11.9% in the forecast
period, 2024-2028. The widespread availability of online streaming services,
coupled with ready access to ample data storage on smartphones, tablets, and
laptops, has made it increasingly convenient for consumers to utilize Bluetooth
speakers. Smaller and medium-sized speakers can be effortlessly transported and
used in various locations, whereas larger models are ideal for stationary use
at home. The rise in outdoor and recreational activities, such as picnics,
camping, and beach outings, has spurred the demand for these speakers. The portable speakers market has experienced
substantial growth and transformation in recent years. This growth is driven by
several factors, including changing consumer preferences, technological
advancements, and an increasing demand for portable and wireless audio
solutions. As a result, the market is teeming with a wide range of portable
speakers designed to cater to diverse user needs.
Browse over 26 market data Figures spread
through 183 Pages and an in-depth TOC on "Global Portable Speakers Market”
Manufacturers offer a diverse array of portable
speakers, ranging from compact and budget-friendly options to high-end models
equipped with advanced audio technologies. This diversity caters to various
consumer preferences and budgets. Wireless connectivity, particularly through Bluetooth
technology, has become a standard feature in portable speakers. This feature
enhances user convenience, allowing seamless connectivity with smartphones,
tablets, and other devices. The market showcases a strong emphasis on audio
quality, with advanced technologies such as high-quality audio drivers,
noise-canceling capabilities, high-resolution audio support, and AI-driven
audio optimization. Sustainability and eco-friendliness are emerging as
significant trends, with manufacturers adopting practices such as using
recycled materials, sustainable packaging, and energy-efficient components.
Design
aesthetics and personalization are becoming influential, with manufacturers
offering a wide variety of design options and opportunities for customization.
Multi-device
integration, often facilitated by voice assistants and smart home ecosystems,
allows users to seamlessly control and synchronize their portable speakers with
other smart devices. The
integration of Bluetooth technology and multi-device compatibility are pivotal
trends, enhancing the convenience and versatility of portable speakers. The
market is witnessing a surge in advanced audio technologies, resulting in
superior sound quality, noise-cancelling capabilities, and high-resolution
audio support. Sustainability and eco-friendliness have
become significant trends, with manufacturers adopting recycled materials,
energy-efficient components, sustainable packaging, and a focus on product
durability. Consumers are increasingly seeking portable speakers that
not only deliver excellent audio but also align with their personal style and
surroundings. Manufacturers are responding with diverse design options and
opportunities for personalization.
The portable speakers market is
characterized by innovation, diversity, and consumer-centric design. Advanced
audio technologies, wireless connectivity, sustainability, and personalization
are the driving forces behind this market's growth. Meeting consumer
expectations, navigating intense competition, and adhering to sustainable
practices are the primary challenges faced by manufacturers in this dynamic
market. As consumer lifestyles continue to evolve, the portable speakers market
is poised for further transformation and expansion. The Global Portable Speakers Market is segmented into
type, connectivity, category, distribution channel, regional distribution, and
company. The Portable
Speakers market segmentation, based on product, includes a mini, pocket,
capsule, and others. The mini segment dominated the market and is expected to
show a significant rise in CAGR due to convenience of use and carrying while
traveling. Based on region,
the North American Portable Speakers market area will dominate this market,
owing to higher demand for music streaming in major countries like US and
Canada. The growing rate of sales of products like smartphones, tablets,
laptops, and other portable devices is enhancing the regional market of this
Region
Major companies operating in Global Portable
Speakers Market are:
- Polk Audio, LLC
- Sonos Inc.
- HARMAN International
- Bose Corporation
- Sony Group Corporation
- Marshall Group AB
- SoundWorks, Inc.
- Logitech Europe, Inc.
- Plantronics Inc.
- VOXX International Corporation
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“The portable speakers market has witnessed remarkable
growth in recent years, driven by a convergence of factors. Changing consumer
lifestyles, an increasing demand for on-the-go entertainment, and the ubiquity
of smartphones and tablets have fueled this expansion. Consumers seek versatile
and convenient audio solutions, which has led to a surge in wireless and
multi-device-compatible speakers. Advanced audio technologies, including
noise-canceling and high-resolution audio support, have further enhanced the
appeal of portable speakers. The market's growth also reflects the industry's
response to sustainability and personalization trends, as manufacturers
incorporate eco-friendly materials and diverse design options.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Portable
Speakers Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Type (Mini, Pocket, Capsule, Others), By Connectivity
(Bluetooth, Wi-Fi, Others), By Category (Mass, Premium), By Distribution
Channel (Hypermarkets/Supermarkets, Multi-Branded Stores, Exclusive Stores,
Others), By Region, By Competition, 2018-2028”, has evaluated the
future growth potential of Global Portable Speakers Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Portable Speakers Market.
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