The global portable Bluetooth speaker market is estimated to be valued at over US$ 4,000 Mn in 2017 and is projected to reach nearly US$ 8,530 Mn by 2025 end. Sales revenue is expected to increase at a CAGR of 9.9% during the forecast period (2017–2025).
Advancement in audio technology hailing the growth of portable Bluetooth speakers in the North America region
Technological advancements in various audio devices have transformed the fashion in which music is played and appreciated. The audio industry has witnessed a shift to the rise in demands for wireless based audio devices such as portable Bluetooth speakers, sound bars, headphones and microphones. End-user demand and adoption for portable Bluetooth speakers and other such devices are gaining traction.
Growing number of smart homes in the North America region aiding market growth
Many homes in developed nations like the U.S and Canada are being revamped into smart homes. In a smart home, consumer electronic devices, media and entertainment gadgets, and other smart electronics are connected to the home network and can interact with each other. These connected devices facilitate consumers to monitor and play music from remote locations and allow consumers to play different music in different rooms by adding additional streaming devices. These features are expected to increase adoption of portable Bluetooth speakers in the countries in North America, thereby contributing to the growth in revenue of the market.
Threat of piracy hindering revenue growth of the portable Bluetooth speaker market
Piracy is a major challenge to various markets, including that for portable Bluetooth speakers. The materials utilized, sound properties as well as durability of pirated products are inferior to those offered by major portable Bluetooth speaker manufacturers. However, pirated products are offered at a fraction of the price of original products and people, especially in developing countries such as China and India, are inclined towards the purchase of such products. The prevalence of counterfeit products hamper market growth to a significant extent.
Change in taste of listening to music among consumers
The format of music is gradually changing to digital, hi-fi systems and manufacturers are designing, developing and pursuing innovation in sound systems. In the past, consumers focused on speakers with high watts featuring better sound quality. However, residential users are limited in terms of compatibility and loud music may be unpleasing and disturbing to neighbors. The customer need has changed to innovation. Key purchases of hi-fi systems in the recent past have been with Wi-Fi connection, Bluetooth, plug-in of various card reader types, USBs including supported files or even a mixture with disco lighting, and so on.
Global Bluetooth Speaker Market Attractiveness, By Price Range – 2017 to 2025
The mid-range segment is projected to be the most attractive segment in the global portable Bluetooth speaker market during the forecast period. However, the low-range segment is expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, the low-range segment is expected to register a CAGR of 10.1% during the forecast period while the mid-range segment follows close with a 10.0% CAGR.
Underdeveloped markets likely to show good growth potential during the forecast period
There are huge market opportunities for portable Bluetooth speaker device providers in untapped rural markets. According to the UN, in 2014, the global rural population was approximately 3.4 billion, with Africa and Asia accounting for around 90% of the population. The rural markets in these regions have huge potential and form the bottom of the pyramid for two major economies of the world. In order to target these markets, manufacturers can lower the prices of products, thereby expanding their customer base as these are price sensitive markets.
‘Portable Bluetooth Speaker Market: Global Industry Analysis (2012–2016) and Forecast (2017–2025)’ is a report based on a robust research methodology that has helped us in delivering yet another comprehensive publication that deciphers this niche market. In this report, historical data, primary responses and public domain data has been thoroughly analyzed to infer the market size. Revenue of companies operating in the portable Bluetooth speaker market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to forecast the market size over the forecast period. The historical growth trend of end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market trend forecast. This data is then validated using the triangulation method and is extensively scrutinized using advanced tools to garner quantitative and qualitative insights into the global portable Bluetooth speaker market.
The market taxonomy breaks down the global portable Bluetooth speaker market into various segments and sub-segments to help the report audience understand this vast and dynamic market in a comprehensive manner.
By Sales Channel
By Usage Type
By Price Range
Introduction to the Report
Speakers are audio output devices having internal amplifiers, which enable individuals to increase the volume of the sound. These devices receive audio input and produce audio output in the form of sound waves. Portable speakers are audio speakers, which run on batteries and can be easily carried and transported by the user. Types of portable speakers are wired and wireless. Portable Bluetooth speakers are speakers with Bluetooth wireless connectivity, which can be paired with other smart devices including computers and mobile devices. A portable Bluetooth speaker receives digital audio streams from the host device, which decodes, decompresses, and amplifies the audio through built-in speakers.
This report is divided into four distinct parts. The first part consists of the introduction to the portable Bluetooth speaker market. The second part consists of the regional portable Bluetooth speaker market analysis and forecast and the regions are selected as per the market taxonomy. The third part of this report consists of the competitive landscape of the global portable Bluetooth speaker market and gives a list of the important players operating in this lucrative market. The last section of this report consists of the global portable Bluetooth speaker market analysis and forecast by sales channel, by usage type, by price range and by region.
In the introduction, the pertinent market numbers of the global portable Bluetooth speaker market are given along with the CAGR for the forecast period 2017-2025. The introduction also contains an executive summary through which the report audience can have a cursory glance into this vast market. Also, in the executive summary, recommendations are given by Persistence Market Research which give key insights into the global portable Bluetooth speaker market. In the introduction, a detailed definition of the portable Bluetooth speakers is given which defines the scope of this report and also gives clarity to the report audience about what this product is all about. In addition, value chain analysis of the portable Bluetooth speaker market is also given in the introduction. The macroeconomic factors influencing the global portable Bluetooth speaker market are also discussed in the introduction, along with the opportunity analysis of this lucrative market. An end-use survey which ranks the factors highlighted by consumers while choosing a portable Bluetooth speaker is given along with the social media insights regarding this market.
An important section of the report is the market dynamics of the global portable Bluetooth speaker market. The market dynamics section lists the drivers, restraints and trends applicable in the global portable Bluetooth speaker market and discusses in detail the factors encouraging the growth of this market as well as the factors hampering the growth of this market. The various trends governing the global portable Bluetooth speaker market – both long term and short term – are also discussed in this part of the report. The third section of the report contains the competitive landscape of the global portable Bluetooth speaker market. This part constitutes information of the various leading companies in the global portable Bluetooth speaker market. The competition landscape gives a dashboard view of the key companies operating in the global portable Bluetooth speaker market along with their important information and broad strategy adopted to stay as leaders in the global portable Bluetooth speaker market. Each of the leading companies is also profiled individually and important information about the company such as company details, company description, product portfolio along with key developments concerning the company and strategic analysis is presented. The last section of the report contains the global portable Bluetooth speaker market analysis and forecast by sales channel, usage type, price range and region. This last section contains important information about the market such as the BPS analysis, year-on-year growth rates, absolute dollar opportunity and market attractiveness analysis of the global portable Bluetooth speaker market.
Why should you invest in this report?
If you are aiming to enter the global portable Bluetooth speaker market, then this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major types of portable Bluetooth speakers are covered in this report and information is also given on the important regions of the world where this market is likely to boom in the near future and during the forecast period of 2017-2025, so that you can plan your strategies to enter this market accordingly. Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, then this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.