Quickly Changing Customer Inclinations and Consistent Developments in Technology to Boost Sales in the Global Ultra-Portable Speaker Market During 2018-2026
Date : Oct 18, 2018 Author : PMR Editorial Staff Category : Technology
The worldwide ultra-portable speaker market is anticipated to foresee a double-digit 12.1% CAGR for the duration of the forecast 2018 2026.
The worldwide ultra-portable speaker market is anticipated to foresee a double-digit 12.1% CAGR for the duration of the forecast 2018 2026. The global market accounted for a market estimation of US$ 1,510.6 Million during 2017 and is likely to reach a market estimation of US$ 4,095.1 Million towards 2026. Revenue share from the North America regional market in the market for the ultra-portable speaker is projected to increase at an 11.4% CAGR all through the conjecture period because of the high music streaming services and incursion of OTT. Technological progressions in several audio devices have altered the manner in which music is appreciated and played. The over-the-top streaming, as well as higher subscription of music streaming, is making huge requirements in the U.S. for ultra-portable speakers. North America market is amid mostly technologically progressed regions. Companies in this region are concentrating mainly on the designing and innovation of products. Companies are providing several features, for instance, improved battery backup, rhythmic lighting, and waterproof speakers, in ultra-portable speakers to boost their revenue sales. All these aspects are likely to fuel the worldwide market for ultra-portable speakers for the duration of the forecast.
Quickly changing customer inclinations, consistent developments in technology, in addition to the expanding acceptance of smartphones are amid aspects fuelling the expansion of the worldwide market for the ultra-portable speaker. These speakers are audio speakers which keep running on batteries that could be effortlessly conveyed as well as transported by users. Expansion in the sales of waterproof speakers is enhancing the worldwide market for the ultra-portable speaker. Also, the development of high-resolution audio has gained impetus in the ultra-portable speaker market. Companies are giving audio speakers of 24-bit high resolution. There is noteworthy customer requirement for high-quality audio, in addition to audio devices which are effortlessly portable and could be conveyed anyplace to spots, for example, gyms, homes, workplaces, cars, along with others. This is fuelling the need for ultra-portable speakers with attributes, for example, lightweight, smaller size, high-resolution audio, long battery backup and compatibility with other devices. With incessant advancements in wireless technologies, it is simpler for customers to stream music whenever and at wherever they need.
Various companies in the ultra-portable speaker market have begun engaging more attention in this market by putting resources in launching new featured ultra-portable speakers or by partnerships in the ultra-portable speaker market. For example, during May 2018, Harman International Industries set in motion JBL GO2, an ultra-portable and fully waterproof speaker. JBL GO2 was introduced in the Indian market with qualities, for instance, next-generation audio quality, Bluetooth connectivity, compact size, along with others.