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The global portable Bluetooth speakers market attained a value of USD 8.09 billion in 2023. The global portable Bluetooth speaker market is expected to grow at a CAGR of 12.4% in the forecast period of 2024-2032 to attain a value of USD 23.14 billion by 2032.
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The portable Bluetooth speakers industry is driven by the advancement in audio technology. The ongoing technological advancements in several audio devices have transformed the world of music in the manner it is played and appreciated. The audio industry has witnessed a rise in the demand for wireless-based audio devices, including portable Bluetooth speakers, headphones, sound bars, and microphones. This is expected to boost the market growth of portable Bluetooth speakers. The market is further aided by the rising demand from the end user industries and growing adoption of portable Bluetooth speakers and other related devices. In addition to this, the rising number of smart phones, especially in North America, is fuelling the market growth of portable Bluetooth speakers.
Portable Bluetooth speakers refer to movable wireless streaming audio. These gadgets are permitted to play media from a source of content, such as a tablet, laptop, any Bluetooth enabled device like a smartphone. Usually, a portable Bluetooth gadget includes a rechargeable battery of lithium polymer. Portable Bluetooth speakers are easy to carry, use, and install.
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On the basis of type, the market is divided into:
The market on the basis of technology is divided into:
Based on sales channel, the market is segmented into:
By price range, the market is categorised into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The market growth of portable Bluetooth speakers is being fuelled by the changing preferences for the mode of listening to music among consumers. The changing format of music towards digital and hi-fi systems is boosting manufacturers to design, develop, and pursue innovation in sound quality. Earlier, consumers opted for speakers with high watts, which featured better sound quality. However, currently, consumers have turned towards innovation and refrain from purchasing speakers featuring loud music as that may be disturbing for their neighbours. This has led to rising demand for hi-fi systems with Bluetooth, Wi-Fi connection, USBs including supported files, plug-in of various card reader types, or even a mixture with disco lighting, among others, consequently boosting the market growth of portable Bluetooth speakers. However, the market may witness hindrance due to the threat of piracy.
The report gives a detailed analysis of the following key players in the global portable Bluetooth speakers market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Technology |
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| Breakup by Sales Channel |
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| Breakup by Price Range |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global portable Bluetooth speakers market attained a value of USD 8.09 billion in 2023.
The global portable Bluetooth speakers market is projected to grow at a CAGR of 12.4% between 2024 and 2032.
The global portable Bluetooth speakers market is estimated to reach a value of about USD 23.14 billion by 2032.
The major drivers of the industry such as rising disposable incomes, advancement in audio technology, rising demand from the end user industries, and rising number of smart phones are expected to aid the market growth.
The key market trend guiding the growth of the industry includes the rising demand for hi-fi systems with Bluetooth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading types of portable Bluetooth speakers in the market are 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.
The significant sales channels in the market are online and offline.
The major price ranges of portable Bluetooth speakers in the market are low range (less than USD 200), mid-range (USD 200-500), and premium (more than USD 500).
The major players in the market are HARMAN International, Sonos, Inc., Bose Corporation, Sony Electronics Inc., Logitech Europe S.A., Apple Inc., Bang & Olufsen A/S, Koninklijke Philips N.V., Fantasia Trading LLC (Anker), LG Electronics, and Tribit Official, among others.
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