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The market for portable speakers has seen several notable shifts, mostly due to the changing needs and tastes of customers looking for easily available audio output. Portable speakers have become a necessary item for many as a result of the widespread abandonment of cellphones and the growing need for entertainment that can be enjoyed while on the go. The market is being driven mostly by the emphasis on small design without sacrificing audio quality. Customers are drawn to portable speakers because they combine mobility and performance in a way that makes it possible for them to experience high-quality sound whenever and wherever they want. Portable speakers now come equipped with wireless communication technologies, especially Bluetooth technology, which is a standard feature. Drug users may now easily connect their bias to speakers without being constrained by wires thanks to its wireless convenience, which improves the whole stoner experience. Additionally, adding smart features to portable speakers adds a layer of complexity and utility, following the wider trend of smart technology integration in consumer goods. Examples of these capabilities include voice assistants and touch controllers. The durability and consistency of portable speakers have become more important, appealing to those with vibrant cultures and outdoor lovers alike. Water-resistant and shockproof designs are becoming typical, adding to the portable speakers' ability to withstand a variety of challenging outdoor situations, from hikes to beach outings. This trend is a reflection of the growing need for adaptable and robust audio output that customers can take with them wherever they go. Additionally, a variety of product immolations are being seen in the market to cater to various customer segments. High-end audiophiles looking for portable speakers that don't sacrifice sound quality are becoming more interested in premium portable speakers. Conversely, low-cost alternatives with respectable audio quality are meeting the needs of frugal shoppers and broadening the market's appeal to a wider range of customers. Personalization and customization choices are becoming essential to the market for portable speakers. Companies are enabling customers to express their unique flair and customize their audio experience by providing a range of color options, interchangeable covers, and personalized sound profiles. This tendency is consistent with the general customer desire for goods that express their individuality and taste. The market has seen a decline in the use of portable speakers' eco-friendly and sustainable qualities. Customers are indicating that they want items that are made with consideration for the environment, whether it be energy-efficient technology or the tools used during production. The eco-friendly solutions that manufacturers are exploring as a result of the sustainability movement are helping to create a more environmentally conscious market. The necessity for portable speakers has been further spurred by the growth of virtual events, outdoor gatherings, and remote work arrangements that require moveable audio outcomes. The industry has responded with features like longer battery life, faster charging times, and multi-device connection, adding to the colorful story that portable speakers can suit the many audio needs of ultramodern customers. Notwithstanding the encouraging developments, the market for portable speakers is confronted with issues such as fierce rivalry, concerns over battery life and charging design, and the constant need for innovation to make a name for oneself in a crowded field. In order to overcome these obstacles, brands are devoting resources to research and development. They are looking at novel features and technologies that may provide them a competitive advantage and improve the total value that they offer to customers.
Portable Speakers Market Highlights:
Global Portable Speakers Market Overview
The portable Speakers Market Size was valued at USD 6.9 Billion in 2023. The Portable Speakers market industry is projected to grow from USD 7.7625 Billion in 2024 to USD 17.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.93% during the forecast period (2024 - 2032). Growing demand for smart home products such as interactive Bluetooth speakers, accessories, and other gadgets are the key market drivers boosting the market growth.
Source: MRFR Database, Secondary Research, Primary Research, and Analyst Review
Portable Speakers Market Trends
- Growing demand for portable speakers to boost the market growth
Market CAGR for Portable Speakers supplements is being driven by the increasing use of Bluetooth speakers amongst people. Various technological innovations are seen in the Bluetooth connectivity space to improve privacy and quality further. For instance, in March 2022, Sonos upgraded its Bluetooth speaker, removing the microphones from the original Sonos Roam speaker, which means the user would not control it with voice or use it to manage other smart home devices.​
Moreover, the evolution of lithium-ion batteries helped the portable speaker market greatly by offering more playtime without frequent charging. Power banks and quick charging technology helped in increasing the demand by addressing charging concerns and reducing the weight of speakers.​
Additionally, home automation is now assured to scale, owing to Bluetooth full-home automation systems. Bluetooth will continue to give a reliable connectivity platform that enables automatic control of lights, thermostats, doorbells, smoke detectors, cameras, and locks wirelessly. Meanwhile, the smart speaker has emerged as a potential central control unit for the smart home.
Furthermore, due to an instant shift in consumer trends for portable, high-performance audio equipment, products like soundbars are gaining attention. Audio and voice user interface technologies have emerged tremendously, resulting in a huge range of platforms that enable more integration, immersive sound quality, wireless connectivity, and on-device artificial intelligence for more innovative devices, which has raised the demand for portable Bluetooth speakers, contributing to market growth. Thus, driving the Portable Speakers market revenue.
Portable Speakers Market Segment Insights
Portable Speakers Product Insights
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.
Other than this, the capsule and pocket segment are expected to rise since it is easily portable and comes in capsule sizes that are pocket friendly.
Portable Speakers Connectivity Insights
The Portable Speakers market segmentation, based on Connectivity, includes Bluetooth, hybrid, and others. The hybrid segment accounted for the largest market and is expected to show a significant rise in CAGR during the forecast period. This segment consists of Connectivity through Bluetooth and Wi-Fi and is the most preferred segment.
Portable Speakers Category Insights
The Portable Speakers market segmentation, based on category, includes mass market and Premium. The premium segment dominated the market and is expected to raise the CAGR bar high during the forecast period (2022-2032). This is due to the inclination of people toward designing superior-quality audio outputs and an increase in purchasing power of consumers.
Portable Speakers Distribution channel Insights
The Portable Speakers market segmentation, based on distribution channels, includes store-based and Non- store based channels. The non-store-based distribution channel category generates the major amount of income due to advanced technologies and increased e-commerce industry use. The availability of products and their wide range and brands with various feature descriptions via online stores have gained the attention of customers worldwide.
Figure 1: Portable Speakers Market, by Distribution Channel, 2022 & 2032 (USD billion)
Source: MRFR Database, Secondary Research, Primary Research, and Analyst Review
Portable Speakers Regional Insights
By Region, the study states market insights into North America, Asia-Pacific, Europe, and the Rest of the World. 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.
Further, the main countries studied in the market report are The U.S., German, Canada, France, the UK, Italy, Spain, China, Japan, Australia, India, South Korea, and Brazil.
Figure 2: PORTABLE SPEAKERS MARKET SHARE BY REGION 2022 (%)
Source: MRFR Database, Secondary Research, Primary Research, and Analyst Review
Europe's Portable Speakers market accounts for the second-largest market share due to increasing partying and pop culture amongst people in this Region. Further, the German Portable Speakers market held the largest market share, and the UK Portable Speakers market was the fastest-growing market in the European Region.
The Asia-Pacific Portable Speakers Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the rise in awareness and the rising adoption of technology-driven products among people. Moreover, China’s Portable Speakers market held the largest market share, and the Indian Portable Speakers market was the fastest-growing market in the Asia-Pacific region.
For instance, the market is further growing by the rising demand from the end user industries and increasing adoption of portable Bluetooth speakers and other related devices. Additionally, the increasing number of smartphones, especially in North America, is fueling the market growth of portable Bluetooth speakers.
Portable Speakers Key Market Players & Competitive Insights
Leading market players are investing richly in research and development in order to enlarge their product lines, which will assist the Portable Speakers market to grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launching, contractual agreements, mergers and acquisitions, heavy investments, and collaboration with other organizations. To expand and survive in a more competitive and increasing market climate, the Portable Speakers industry must offer cost-effective products.
Manufacturing locally to minimize operational costs is one of the key business strategies used by manufacturers in the portable speakers' industry to benefit clients and increase the market sector. In recent years, the Portable Speakers industry has offered some of the most significant advantages to the general public in terms of convenience. Major players in the Portable Speakers market, including Polk Audio, LLC (US), Sonos Inc. (US), Bose Corporation (US), Logitech Europe S.A. (Ultimate Ears) (Switzerland), Bang & Olufsen (Denmark), SoundWorks, Inc. (US), and others, are ensuring to increase market demand by investing in R&D operations.
Sonos, Inc. is an American developer and Producer of audio products best known for its multi-room audio products. The company was incorporated in 2002 by John MacFarlane, Craig Shelburne, Tom Cullen, and Trung Mai. It offers to charge cradles, music players, alternating current adapters, wireless speakers, controllers, and loudspeakers. Sonos serves customers worldwide. Sonos vends its products through distributors, physical retail stores, and online retailers. It has a business presence in the Americas, the Middle East, Europe, Africa, and Asia-Pacific. It operates offices in Australia, Canada, the Netherlands, China, the UK, and Japan. Sonos is headquartered in Santa Barbara, California, the US.
Polk Audio, LLC (US) was founded in 1972 by Johns Hopkins classmates Matthew Polk, George Klopfer, and Sandy Gross. Today it is a subsidiary of DEI Holdings. The company is letting the masses in on its speaker's secret. It offers and markets car and home loudspeakers under the Polk Audio brand that range from elaborate home theater systems to small bookshelf speakers to satellite radio home component tuners. The company sells its products through audio specialty and mass retailers in North America, distributors in more than 75 other countries, and online.
Key Companies in the Portable Speakers market include
- Samsung Electronics,
- (Harman Kardon and JBL) (South Korea)
- Tribitaudio (China)
- Bose Corporation (US)
- Polk Audio, LLC (US)
- Sonos Inc. (US)
- Boytone (US)
- Marshall Amplification PLC (UK)
- Sony Corporation (Japan)
- Logitech Europe S.A. (Ultimate Ears) (Switzerland)
- Bang & Olufsen (Denmark)
- SoundWorks, Inc. (US)
- Apple Inc. (Beats Electronics LLC) (US)
- House of Marley, LLC (US)
Portable Speakers Industry Developments
February 2022: Tribit confirmed the launch of a sequel to their own StormBox Micro wireless speaker. The StormBox Micro 2 is the upgraded version of its portable StormBox Micro speaker that gives immersive 360-degree sound with rich deep bass and can also be paired with the brand's speaker to increase the volume in Party Mode. The portable speaker can also be paired with close to eight devices at the same time using Bluetooth 5.3.
March 2022: Beats, the Apple-owned audio device company, is introducing its limited-edition version of the Beats Pill Plus portable speaker in partnership with Stussy, the streetwear brand. The Beats Pill Plus Stussy is a limited-edition Bluetooth portable speaker.
September 2022: In China, the Meizu PANDAER Elvis Presley-branded Bluetooth speaker was released. The Platinum Unicorn Cyber Speaker features two 48mm loudspeakers and a full-frequency ultra-thin audio unit. Deep bass is generated by the new Meizu-Elvis Presley Bluetooth speakers using passive diaphragm sensor technology.
Portable Speakers Market Segmentation
Portable Speakers Product Outlook
- Mini
- Capsule and others
Portable Speakers Connectivity Outlook
- Bluetooth
- Hybrid
- Others
Portable Speakers Category Outlook
- Mass Market
- Premium
Portable Speakers Distribution Channel Outlook
- Store-Based
- Non-Store-Based
Portable Speakers Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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