Ultra Portable Speakers Market
Global Market Study on Ultra-Portable Speakers: Residential Sector Expected to Remain Largest End User During the Forecast Period 2018 - 2026
Ultra-Portable Speakers Market Segmented By Bluetooth, Wi-Fi Technology for Residential and Commercial in Organized retail, Unorganized retail, Online and ecommerce
Ultra-portable speakers are audio speakers that run on batteries, which can be easily carried & transported by users. Rapidly changing consumer preferences, continuous innovations in technology, and increasing adoption of smartphones are among factors fuelling the growth of the global ultra-portable speaker market.
The sales of waterproof speakers are surging the global demand for ultra-portable speakers. Moreover, the emergence of high-resolution audio has gained momentum in the ultra-portable speaker market. Vendors are providing 24-bit high resolution audio speakers. There is significant consumer demand for high-quality audio, along with audio devices that are easily portable and can be carried anywhere to places such as homes, gyms, cars, workplaces, and others.
This is driving the demand for ultra-portable speakers with features such as smaller size, light weight, high-resolution audio, compatibility with other devices and long battery backup. With continuous developments in wireless technologies, it is easier for consumers to stream music any time and at any place.
Find Out More about the Report Coverage
- Beats Electronics LLC
- Bose Corporation
- Klipsch Audio Technologies
- Sony Corporation
- Xmi Pte Ltd (X-Mini)
- Koninklijke Philips N.V.
- Samsung Electronics
- Ultimate Ears
Ultra-portable speaker market:Overview
Due to increasing outdoor activities and easy portability, Bluetooth ultra-portable speakers are expected to garner a major market share during the forecast period. Increase in the adoption of smartphones and seamless connectivity through Bluetooth technology is surging the demand for Bluetooth-enabled ultra-portable speakers. However, recent innovations in smart speakers are fuelling the demand for Wi-Fi-based ultra-portable speakers.
Smart speakers, such as Amazon Echo Dot and Google Siri, are boosting the popularity of Wi-Fi-based portable speakers. This is encouraging consumers to opt for Wi-Fi-enabled ultra-portable speakers, owing to which vendors are offering multi-connectivity speakers that can be connected with Wi-Fi as well as Bluetooth.
North America is expected to account for a major market share of the global ultra-portable speaker market during the forecast period. Technological advancements in various audio devices have transformed the way in which music is played and appreciated. The high subscription of music streaming and over-the-top streaming is creating high demand for ultra-portable speakers in the U.S. Several homes in the U.S. and Canada have been revamped into smart homes, and this is significantly contributing to the demand for ultra-portable speakers.
North America is among the most technologically advanced regions. Vendors in this region are focusing more on the innovation and designing of products. Vendors are offering various features, such as waterproof speakers, rhythmic lighting, and improved battery backup, in ultra-portable speakers to increase their revenue sales. All these factors are expected to drive the global ultra-portable speakers market during the forecast period.
Several players in the ultra-portable speaker market have started taking more interest in this market by investing in partnerships or by launching new featured ultra-portable speakers for the ultra-portable speaker market. For instance, in May 2018, Harman International Industries launched JBL GO2, a fully waterproof and ultra-portable speaker. JBL GO2 was launched in the Indian market with features such as small size, Bluetooth connectivity, next-generation audio quality, and others.
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Revenue generated by the global ultra-portable speaker market is estimated to exhibit a double-digit CAGR, and hence, reach US$ 4,095.1 Mn by 2026. On the basis of technology, the ultra-portable speaker market is segmented into Bluetooth, Wi-Fi, and others. Revenue contribution from the ultra-portable speaker Bluetooth segment is expected to increase at a CAGR of 11.8% during the forecast period due to the increasing adoption of smartphones and tablets.
On the basis of end-user, the ultra-portable speaker market is segmented into residential and commercial. Revenue contribution from the ultra-portable speaker residential segment is expected to expand at a CAGR of 12.2% during the forecast period due to the high adoption of smart homes and increasing recreational activities.
On the basis of distribution channel, the ultra-portable speaker market is segmented into organized retail, unorganized retail, and online/ecommerce. Revenue contribution from the ultra-portable speaker organized retail segment is expected to expand at a CAGR of 11.8% during the forecast period. However, with increasing ecommerce industry, vendors are adopting the online channel for sales. Owing to the ease of overseas business, vendors are moving toward the online/ecommerce sales segment. This trend is expected to contribute to the growth of the online/ecommerce segment of the ultra-portable speaker during the forecast period.
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On the basis of region, the ultra-portable speaker market is segmented into North America (U.S., Canada), Latin America (Brazil, Mexico, and the rest of Latin America), Europe (Germany, Italy, France, U.K., Spain, Russia, and the rest of Europe), SEA and Pacific (India, Indonesia, Philippines, Thailand, Malaysia, Oceania, and the rest of SEA), China, Japan, and MEA (Northern Africa, GCC Countries, Turkey, South Africa, and the rest of MEA). Revenue contribution from the North America region in the ultra-portable speaker market is expected to expand at a CAGR of 11.4% during the forecast period due to the high penetration of OTT and music streaming services.
Key competitors in the ultra-portable speaker market are Anker Innovations Limited, Beats Electronics LLC; Bose Corporation; Harman International Industries; Klipsch Group, Inc.; Sony Corporation; Xmi Pte. Ltd.; Koninklijke Philips N.V.; Samsung Electronics; and ULTIMATE EARS.
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Key Segments Covered
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