Global Portable Bluetooth Speakers Market to Grow at a CAGR of 12.4% During 2024-2032, Driven by the Development of Smart Homes

The market growth of portable Bluetooth speakers is driven by the development of smart homes in developed countries like the United States and Canada. In a smart home, consumer electronic devices, and various media and entertainment gadgets are connected to each other via a home network and can interact with each other. These connected smart devices help the consumer control and play music from distant locations and permit consumers to play music of their choice in different rooms by adding additional streaming devices. The aforementioned features are predicted to enhance the adoption rate of portable Bluetooth speakers in the North America region, consequently boosting the market growth over the forecast period.

The market is further aided by the introduction of new products to the product portfolio of the key industry players of portable Bluetooth speakers like Sony Corporation (NYSE: SNE) and Koninklijke Philips NV. In May 2020, Sony Corporation released three new portable Bluetooth speakers. SRS-XB23, which is the least expensive portable Bluetooth speaker, is a new design released this year. All the models are available in multiple colour options and are IP67 waterproof as well as rustproof and dustproof. The company launches new models with enhanced features every year. The ongoing innovation and advancement in the industry are expected to bolster the market growth over the forecast period.

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Market Analysis by Type, Technology, Sales Channel, Price Range, and Region:

• The portable Bluetooth speakers market, on the basis of type, is divided into car speaker, pocket speaker, and outdoor Bluetooth speaker, among others.
• The market on the basis of technology can be divided into smart speaker and conventional speaker.
• Based on sales channel, the market is segmented into online and offline.
• By price range, the market is categorised into low range (less than USD 200), mid-range (USD 200-500), and premium (more than USD 500).
• Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for portable Bluetooth speakers is driven by the betterment of audio technology.
• The rising demand for wireless-based audio devices like portable Bluetooth speakers, headphones, sound bars, and microphones, are boosting the market growth of portable Bluetooth speakers.
• The growing demand from the end user industries is accelerating the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for portable Bluetooth speakers for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the type, technology, sales channel, price range, and major regions of portable Bluetooth speakers.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

Bose Corporation, Harman International, Beats by Dr. Dre, Sony Corporation, Koninklijke Philips NV, LG Electronics, and Yamaha Corporation, among others are the key players in the global portable Bluetooth speakers market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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