Portable Bluetooth Speakers Market Size, Share & Trends Report

Portable Bluetooth Speakers Market Size, Share & Trends Analysis Report By Region, By Application (Residential, Commercial), By Distribution Channel (Online, Offline), And Segment Forecasts, 2019 - 2025

  • Published Date: Apr, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-2-68038-837-4
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 110

Industry Insights

The global portable Bluetooth speakers market size was estimated at USD 1.21 billion in 2018 and is projected to expand at a CAGR of 11.71% from 2019 to 2025. Increased access to online streaming services along with easy availability of large data storage on phones, tablets, and laptops have enabled consumers to use Bluetooth speakers more conveniently and easily. Small- and medium-sized speakers can be easily carried and transported in any places, while large-sized products are suitable for at-home stationary devices.

Rising penetration of Wi-Fi-based networks along with increasing proliferation of connected devices have surged the demand for wireless connectivity feature in urban households. Moreover, the ability of speakers of providing wireless connectivity has now been a prominent factor driving the market. This trend has benefitted in the development of smart speakers. For instance, the sales of the devices witnessed a 50% growth from 2016-17 to 2018-19 on a global level.

U.S. portable Bluetooth speakers market

Over the past few years, improved wireless connectivity functions have being incorporated across all the speaker categories including sound bars, mobile docking speakers, and wall units. Therefore, increasing demand for sophisticated speakers is encouraged by the enhanced video quality. Moreover, changing consumer lifestyle and need for entertainment have resulted in rising adoption of high-end home theater systems. As a result, it creates potential market for subwoofer systems, in-wall speakers, and sound bars.

Prominent companies have been focusing on quality and technology to increase sales. For instance, in May 2018, Harman International Industries, Inc., launched JBL GO 2 Bluetooth speakers with in-built waterproof design. In addition, in November 2018, IMS Mercantiles Pvt. Ltd., launched its Digitek Portable Trolley Bluetooth Speakers Mivi, in three water resistant models of Bluetooth speakers including Dubbed Octave, Moonstone, and Raom. In May 2017, Sony Corp. launched SRS-XB40, a portable wireless Bluetooth speaker with water-resistant quality. In April 2019, 4COM Technologies launched its flagship speaker Sonic Angle 1 in India.

Application Insights

Residential was the largest application segment in 2018. Rising adoption of home theatre systems and smart homes have resulted in increased acceptance of portable Bluetooth speakers. Changing consumer lifestyle are driving the market in this segment. With the growing number of home entertainment systems, manufacturers are focusing on continuous R&D and product launches to gain a competitive edge.

For instance, March 2019, Harman International Industries, Inc. launched JBL GO+ Bluetooth speaker with enhanced features, such as noise cancellation speakerphone for conference calls. In the same period, Sound One launched DRUM portable waterproof Bluetooth speakers. In January 2019, ULTIMATE EARS launched Boom 3 in three dual-toned colors with a convenience button for music control.

Commercial application is projected register a CAGR of 11.6% from 2019 to 2025. Commercial, as well as niche, applications have paved the way for the demand from defense and automotive sectors. Furthermore, the industrial sector also plays a significant role in driving the demand for commercial devices. New product launches in commercial applications is expected to remain a key market trend. In January 2016, Intex Technologies launched high decibel 4.1 speakers, IT-Star 14000 SUF, with Bluetooth connectivity.

Distribution Channel Insights

Offline channels segment led the global market in 2018 and reported a revenue of USD 744.8 million. Offline channels exhibit detailed analysis of the technology infused in the product to get a practical experience of the same. For instance, Marshall Amplification PLC, Xiaomi Corp., Apple Inc., and IKEA owned their retail outlets across all regions to provide easy accessibility and convenience to consumers.

Online channels are projected witness the fastest CAGR of 11.9% from 2019 to 2025. This growth is attributed to the increasing population and rising adoption of smart phones. Technologically advanced regions, such as U.S. and U.K., play a prominent role in the segment growth. These channels help provide the latest devices. For instant, according to Internet World Stats, Asia accounted for 50.4% of internet users in the world in 2019.

In addition, rapidly growing e-commerce industry across the globe has enabled the customers to compare products offered by different companies, thereby augmenting online sales. E-commerce portals, such as Amazon, Alibaba, Ebay, and Flipkart, offer latest products at discounted prices along with value-added services including easy returns and Cash-On-Delivery (COD).

Regional Insights

North America was the largest market and accounted for 31.5% of global share in 2018. The region’s highest share of internet penetration at 89.1% on a global level is expected to remain a favorable factor. High market visibility of smart Bluetooth speakers and smart home systems in U.S. and Canada is projected to be a key trend. Furthermore, preference for Wi-Fi- and AI-enabled Bluetooth speakers plays a prominent role in the region’s growth.

Global portable Bluetooth speakers market

Asia Pacific is expected to register the fastest CAGR of 13.0% from 2019 to 2025. Shifting preference toward technology-led premium products in emerging countries, such as India and China, is boosting the regional market. Rising sales of smart devices, such as smartphone, tablets, and phablets, in the region is also expected to result an increased demand for music on-the-go, which, in turn, will promote the usage of portable products.

Portable Bluetooth Speakers Market Share Insights

Key manufacturers in the market include Harman International Industries, Inc.; Apple, Inc.; Bose Corp.; VOXX Electronics Corp.; Plantronics, Inc.; Beats Electronics; Sony Corp.; Samsung Group; ULTIMATE EARS; and 4COM Technologies. Product innovation is expected to remain a key strategy among key market participants.

For instance, in March 2019, Truvison Industries Pvt. Ltd. launched 400 BT2.1 with a sub-woofer and two satellite speakers. In February 2019, Damson Group launched CORSECA Eternia, which is a retro look Bluetooth speaker. In February 2019, Zaap launched Aqua Darkstar wireless Bluetooth speakers.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and MEA

Country scope

U.S., U.K., China, India, Japan, and Brazil

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global portable Bluetooth speakers market report on the basis of application, distribution channel, and region:

  • Application Outlook (Revenue, USD Million, 2015 - 2025)

    • Residential

    • Commercial

  • Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)

    • Online

    • Offline

  • Regional Outlook (Revenue, USD Million, 2015 - 2025)

    • North America

      • U.S.

    • Europe

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

Key questions answered by the report
Request for Customization

Choose License Type

Single User - $2,450
Multi User (2-5) - $3,450
Enterprise Access - $5,450

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert.

  • Custom research service

    Custom research service

    Design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • grand view research PCI DSS complaint grand view research paypal verified