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Global Portable Bluetooth Speakers Market to Grow at a Healthy Pace During 2021-2026, Driven by the Development of Smart Homes

According to a new report by EMR titled, 'Global Portable Bluetooth speakers Market Report and Forecast 2021-2026', the global market for portable Bluetooth speakers is aided by the global smart speaker market, which is expected to grow at a CAGR of 20% in the forecast period of 2021-2026 to attain USD 27 billion by 2026.

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.

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

  • The portable Bluetooth speakers industry, on the basis of type, is divided into car speaker, pocket speaker, and outdoor Bluetooth speaker, among others.
  • Based on sales channel, the industry is segmented into organised sector, unorganised sector, online, among others.
  • By price range, the industry is categorised into premium (more than USD 500), mid-range (USD 500-200), and low range (Less Than USD 200).
  • 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 (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the type, 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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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