The key players in the industry are Bose Corporation, Harman International, Apple Inc., Sony Corporation, Koninklijke Philips NV, LG Electronics, and Yamaha Corporation, among others.
The global portable Bluetooth speakers market is aided by the growth of smart speaker industry, which attained revenue of USD 9.07 billion in 2020 and is expected to grow at a CAGR of 20% in the forecast period of 2022-2027.
Portable Bluetooth speakers are amplifiers or loudspeakers that can connect wirelessly to various devices, such as smartphones, tablets, iPods, and computers. Generally, a Bluetooth speaker comes with a rechargeable battery of lithium polymer. They are available in all sizes and are usually easy to carry, use, and install.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The advancement majorly aids the portable Bluetooth speakers' industry in audio technology. The technological advances in the world of music have entirely changed the way we listen to music. The global industry has been seeing an increase in demand for wireless-based audio devices, including portable Bluetooth speakers. The market growth is further fuelled by the increasing demand from end-user industries and the growing adaptation of Bluetooth devices. The rise in the number of smartphones has also augmented the growth of portable Bluetooth speakers.
The shifting preferences for the way of listening to music among consumers is also propelling the market expansion of portable Bluetooth speakers. The shift in music's format to digital and hi-fi systems is encouraging manufacturers to conceive, develop, and seek sound quality innovation. Previously, consumers preferred high-wattage speakers with superior sound quality. As a result, demand for hi-fi systems with Bluetooth, Wi-Fi, USBs with supported files, plug-in of various card reader types, or even a combination with disco lighting is on the rise, bolstering the market for portable Bluetooth speakers.
Headquarters: Massachusetts, United States
Bose Corporation is a manufacturing company specialising in audio equipment. The company is best known for its speakers, noise-canceling headphones, professional headsets, and automobile sound systems. The founder Amar Bose had donated the majority of the company's share to the Massachusetts Institute of Technology in 2011. The company recorded a revenue of about USD 3.6 billion in 2020 while employing approximately 8000 people.
Headquarters: Stamford, Connecticut, United States
The company is an American audio company and is an independent subsidiary of Samsung electronics. Harman controls significant operations on the American continents, Europe, and Asia, while marketing products under various brands, including JBL, Infinity, and Harmon Kardon, among others. HARMAN’s portfolio of legendary audio brands includes AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon®, Mark Levinson®and Revel®.
Headquarters: California, United States
The American multinational technology company specialises in consumer electronics, computer software, and online services. By revenue, Apple inc. is the world's largest technology company, and since January 2021, it is also reported to be the world's most valuable company. It is one of the big five American information technology (IT) companies with a revenue of about USD 275 billion as reported in 2020. The company also offers various services like Apple Music, Apple News+, Apple TV+, Apple Arcade, and Apple Pay, among others.
Headquarters: Tokyo, Japan
Sony corporation, a significant technology company, operates as one of the world's largest manufacturers of consumer and professional electronic products. The company is also the largest video game console company and video game publisher in the world. It has also conquered the world of music and entertainment, becoming the second-largest music company and third-largest film studio worldwide.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.