Portable Bluetooth Speaker Market Size, Share & Trends Analysis Report By Application (Commercial, Residential), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global portable bluetooth speaker market size was estimated at USD 11.64 billion in 2022 and is expected to grow a compound annual growth rate (CAGR) of 11.6% from 2023 to 2030. The widespread availability of online streaming services, coupled with ready access to ample data storage on smartphones, tablets, and laptops, has made it increasingly convenient for consumers to utilize Bluetooth speakers. Smaller and medium-sized speakers can be effortlessly transported and used in various locations, whereas larger models are ideal for stationary use at home. The rise in outdoor and recreational activities, such as picnics, camping, and beach outings, has spurred the demand for these speakers.

Wi-Fi-based networks are becoming more widespread, and the number of connected devices is expanding, which has increased the demand for wireless access in urban households. In addition, speakers' capacity for wireless communication is currently a significant market-driving force. This pattern has helped the creation of smart speakers. For instance, the Yamaha ATS-2090 offers a wireless smart soundbar that can be connected to both Bluetooth and Wi-Fi.

Improved wireless networking features have recently been implemented into various speakers, including sound bars, portable docking speakers, and wall units. The improved audio quality hence promotes a rise in demand for sophisticated speakers. High-end home theatre systems are also becoming more popular due to changing consumer lifestyles and their increased need for entertainment. Subwoofer systems, in-wall speakers, and sound bars could all benefit, creating a new market.

Prominent companies have been focusing on quality and technology to increase sales. For instance, Skullcandy unveiled a broad selection of portable speakers in different sizes in June 2023, including the most recent Bluetooth technology. Common features amongst the Ounce, Kilo, Terrain Mini, Terrain XL, and Terrain models include IPX7 water resistance and USB Type-C charging. The price of these speakers varies based on their size, but they are available in the same color variations. The Kilo is distinguished as a solid, durable construction to accompany its anticipated 24-hour battery life. On the other hand, the Terrain and Ounce series are intended to provide a battery life of 14 to 18 hours per charge.

Application Insights

Portable bluetooth speakers for residential purposes dominated the market with a revenue share of 71.05% in 2022. The demand for enhanced audio output for an immersive home entertainment experience has boosted segment growth. Most modern TVs are equipped with Bluetooth connectivity, enabling seamless pairing with compatible Bluetooth speakers.

Bluetooth speakers are versatile and are used in various scenarios within a residential environment. They serve as background music sources for social gatherings, parties, or while performing household chores. They are useful for creating a personalized audio experience while relaxing, working out, or even enjoying leisure time outdoors. Features of portable Bluetooth speakers, such as wireless connectivity, convenience, portability, and enhanced sound quality, coupled with the affordability and availability of a wide range of speakers, from compact entry-level models to premium options, have increased product adoption for household applications.

Portable bluetooth speakers for commercial purposes are expected to register a CAGR of 12.3% over the forecast period, driven by their increased use in retail stores, restaurants, health clubs, theme parks, educational facilities, hospitality venues, music cafes, and leisure spaces. The increase in outdoor recreational activities and adventure tourism has driven the demand for durable and portable audio solutions. Some of the speakers in the market, such as Furrion LIT Speaker, cater to this trend, ensuring the speaker can withstand the rigors of outdoor environments. Outdoor enthusiasts, adventurers, and businesses seeking durable and versatile audio solutions are increasingly looking for features such as wireless connectivity, rugged design, waterproof features, long battery life, multi-functionality, and mounting options.

Distribution Channel Insights

The sale of portable Bluetooth speakers through offline channels accounted for a share of 62.49% in 2022. Offline stores are favored due to the visual aspects of shopping, which influence buying decisions. The experience of physically trying out different speakers and assessing their features along with a wide product range is unique to offline shopping. Consumers can physically engage with speakers, evaluate sound quality, and assess features before purchasing to avoid the hassles of returns or replacements. This is projected to push consumers toward stores to purchase portable bluetooth speakers, further driving sales through offline channels.

The online channel is expected to exhibit a CAGR of 12.7% over the forecast period, supported by the availability of a wide variety of portable Bluetooth speakers from different brands and easy brand comparison. Furthermore, online channels offer discounts on premium and mid-range products, making them accessible to a broad demographic. Consumers can choose from basic budget models to premium offerings with advanced features. The rapid expansion of the global e-commerce industry has empowered consumers to compare products from different companies, thus boosting online sales. Leading e-commerce platforms, such as Amazon, Alibaba, eBay, and Flipkart, offer up-to-date products at discounted rates, accompanied by additional conveniences like hassle-free returns and Cash-On-Delivery (COD) services.

Regional Insights

Asia Pacific held the largest revenue share of around 37.12% in 2022 and is expected to retain its dominance over the forecast period. The increasing adoption of Bluetooth-enabled devices can be attributed to their versatile adaptability and convenient portability features. The demand is also fueled by tech-savvy consumers who prefer wireless speakers, that allow them to listen to music on the go.

China portable Bluetooth speakers market emerged dominant in the Asia Pacific region with a revenue share of 35.5% in 2022. China is the world's largest e-commerce market, accounting for nearly half of global transactions, which is expected to drive the e-commerce sales of portable Bluetooth speakers in the country. The India portable Bluetooth speaker market is expected to grow at a CAGR of 13.8% from 2023 to 2030. The Japan market is expected to grow at the fastest CAGR of 13.0% during the forecast period, driven by the rising popularity of insoles among individuals facing back pain, joint discomfort, and related issues.

Europe is expected to witness a steady CAGR of 10.8% over the forecast period. The increasing demand for wireless convenience and connectivity with smartphones and other devices has spurred the adoption of these speakers. The UK portable Bluetooth speakers market is expected to grow at a CAGR of 9.9% from 2023 to 2030.

North America is expected to witness a steady CAGR of 10.3% over the forecast period owing to the continued demand for wireless audio solutions, the increasing popularity of outdoor activities, and a growing consumer preference for smart features in their audio devices.The U.S. portable Bluetooth speaker market is expected to grow at a CAGR of 10.0% from 2023 to 2030.

Key Companies & Market Share Insights

The industry has both international and domestic participants. Brand market share analysis indicates that key players are focusing on strategies such as new product launches, partnerships, mergers & acquisitions, global expansion, and others. Some of the initiatives include:

• In April 2023, Bose Corporation announced its decision to divest the Bose Professional Division to Transom Capital Group, a private equity firm. The commercial installation and conference activities of Bose Professional will be taken over by Transom Capital Group. Bose Professional will get focused attention during this transition to assist its professional audio clientele and carry on with the development of unique products and developments for the market.

• In February 2023, HARMAN International’s JBL brand launched its Pulse 5 portable speakers in the U.S. The product offers immersive 360° lighting synchronized with music, customizable through the app. Its audio features include a 30 W woofer and 10 W tweeter, covering 58 Hz to 20 kHz. With a 27 Wh battery, it provides 12-hour playback, fast recharge, Bluetooth 5.3 for dual device pairing, and PartyBoost for stereo or linked sound. The IP67 rating ensures dust and water resistance, making it ideal for outdoor use.

• In August 2022, Logitech’s brand Ultimate Ears announced the expansion of its product line with the launch of WONDERBOOM 3. Crafted from entirely recycled polyester fabric, including a substantial 31% post-consumer recycled plastic, this speaker presents a circular sound experience, delivering deep bass and sustaining 14 hours of full-stereo boom. With its IP67 rating, it is both waterproof and dustproof; it can even float in a pool.

Some prominent players in the global portable bluetooth speaker market include:

• HARMAN International

• Bose Corporation

• Sony Group Corporation

• Marshall Group AB

• Apple Inc.

• Bang & Olufsen

• Logitech

• Plantronics Inc.

• VOXX International Corporation

• Fugoo

Portable Bluetooth Speaker Market Report Scope

Global Portable Bluetooth Speaker Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and analyzes the latest trends and opportunities in each sub-segment from 2017 to 2030. For this study, Grand View Research has segmented the global portable bluetooth speaker market report based on application, distribution channel, and region:

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Commercial

  • Residential

• Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

  • Online

  • Offline

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia & New Zealand

    • South Korea

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia

    • UAE