Portable Speaker Market by Technology, Distribution Channel, and Geography - Forecast and Analysis 2022-2026

The predicted growth of the portable speaker market share from 2021 to 2026 is USD 16.36 billion, at a progressing CAGR of 18.28%.

This market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. The market report also offers information on several market vendors, including Aliph Brands LLC, Altec Lansing Inc., Apple Inc., Bose Corp., Creative Technology Ltd., Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, Masimo Corp., Panasonic Corp., Pioneer Corp., Plantronics Inc., Samsung Electronics Co. Ltd., Sennheiser electronic GmbH and Co. KG, Shure Inc., Skyworks Solutions Inc., Sony Group Corp., Truvison Industries Pvt. Ltd., Yamaha Corp., and ZAGG Inc. among others.

This report extensively covers the portable bluetooth speakers market segmentation by the following:

• Distribution Channel - Offline and Online
• Technology - Wireless and Wired
• Geography - APAC, North America, Europe, South America, and Middle East and Africa

What will the Portable Speaker Market Size be During the Forecast Period?

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Portable Speaker Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rise in the number of smart homes is notably driving the portable speaker market growth, although factors such as easy availability of counterfeit products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the portable speaker industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Portable Speaker Market Driver

One of the key factors driving growth in the portable speaker market is the rise in the number of smart homes. Many homes in developed countries like the US and the UK are leveraging the Internet of Things technology and remodeling to smart homes. These smart homes connect all consumer electronic devices, media and entertainment gadgets, and other smart electronics to the home network. The devices interact with each other through the home network. The demand for smart homes is driven by energy-saving requirements, the need for convenience, and rising connectivity between various devices. The demand is also driven by government initiatives that promote smart homes for better living. Wireless portable speakers facilitate the communication between the devices connected to the home network and provide easy streaming of content like music and videos. The smart home market has already established its presence in developed markets, and it is expected to have significant growth in developing countries during the forecast period.

Key Portable Speaker Market Trend

The growing popularity of multi-room streaming is a portable speaker market trend that is expected to have a positive impact in the coming years. The advent of networked audio means the removal of much of the effort, expense, and time, as all audio devices are wirelessly connected with technologies such as Bluetooth, Wi-Fi, or AirPlay. The growing trend of maintaining speakers in all the rooms is supporting the growth of the market. Multi-room speakers need to be connected to one master speaker that can be connected wirelessly with Bluetooth, Wi-Fi, or AirPlay. Bluetooth speakers constitute more than 75% of the market.SRS-X77, SRS-X88, and SRS-X99 Bluetooth speakers by Sony and WAM250/ZA and WAM7500/ZA Bluetooth speakers by Samsung Electronics have multi-room streaming features. In March 2022, Sonos Roam SL, a portable speaker manufacturer, launched a portable speaker with both Bluetooth And Wi-Fi, which can be added to multi-room audio systems. Thus, such product innovations are likely to boost the growth of the market during the forecast period.

Key Portable Speaker Market Challenge

The easy availability of counterfeit products will be a major challenge for the portable speaker market during the forecast period. Leading manufacturers are facing a major threat because of the availability of counterfeit products from unauthorized dealers and at local stores. APAC is considered the hub for counterfeit products. Consumers get attracted to counterfeit products because they are inexpensive, easily available, and copies of big brands. The popularity and presence of these products are likely to intensify the competition in the market. Counterfeit products usually fail to allow smartphones to detect Bluetooth. The compatibility issues and decline in the cost of Bluetooth speakers will likely have a negative impact on the growth of the market during the forecast period.

This portable bluetooth speakers market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global portable speaker market as a part of the global consumer electronics market within the global household durables market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major Portable Speaker Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Aliph Brands LLC
• Altec Lansing Inc.
• Apple Inc.
• Bose Corp.
• Creative Technology Ltd.
• Koninklijke Philips NV
• LG Electronics Inc.
• Logitech International SA
• Masimo Corp.
• Panasonic Corp.
• Pioneer Corp.
• Plantronics Inc.
• Samsung Electronics Co. Ltd.
• Sennheiser electronic GmbH and Co. KG
• Shure Inc.
• Skyworks Solutions Inc.
• Sony Group Corp.
• Truvison Industries Pvt. Ltd.
• Yamaha Corp.
• ZAGG Inc.

 

This statistical study of the portable speaker market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as technological innovations and the expansion of the operations to compete in the market.

Product Insights and News

• Altec Lansing Inc. - Altec Lansing Inc. is a privately held company headquartered in the US. It is a global company, with limited information regarding its financials and limited information regarding its employee strength is available. Its revenue from the global portable bluetooth speakers market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. 
• Altec Lansing Inc. - The company offers portable speakers such as Soundbucket XL, Rockbox XL, Mini Lifejacket Jolt, Soundbucket, Lifejacket XL Jolt, and Hydraboom. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Portable Speaker Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the portable bluetooth speakers market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Portable Speaker Market?

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42% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for portable speaker in APAC. Market growth in this region will be faster than the growth of the market in the European, MEA, and South American regions.

The high population and rising disposable income will facilitate the market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic negatively impacted the sales of portable speaker retailers in APAC in 2020. Various retailers and brands in the regional portable bluetooth speakers market faced short-term challenges related to cash flow, supply chain, health and safety, and customer demand. However, the sales of portable speakers increased from Q3 of 2020, owing to the gradual lifting of lockdown restrictions, which resulted in the opening of electronic manufacturing units. Additionally, in developing countries such as India, China, Vietnam, Thailand, and Singapore, the technological advancement and penetration of smartphones increased substantially due to the remote working scenarios and change in conventional studying methods owing to the lockdown restrictions of the pandemic.

What are the Revenue-generating Distribution Channel Segments in the Portable Speaker Market?

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The market share growth by the offline segment will be significant during the forecast period. The unorganized sector of the global portable speaker marker will not be affected as much by the increasing popularity of the online sales segment in the market. With the sector providing cost-effective alternate solutions for price-conscious consumers, the online sales segment will find it difficult to tap into the sector. One of the major factors driving the market growth is the increased credibility of brick-and-mortar stores. In addition, consumers prefer these stores because they have flexible return policies or an increased period of warranty.

This report provides an accurate prediction of the contribution of all the segments to the growth of the portable bluetooth speakers market size and actionable market insights on post-COVID-19 impact on each segment.

You may be interested in:

Professional Speaker market - The market share is expected to increase by USD 543.74 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.36%.

Bluetooth Speaker market - The market share is expected to increase to USD 6.93 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.39%.

US Smart Home Speaker market - The market share is expected to increase to USD 3.93 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 18.45%.

Smart Speaker market - The market size is predicted to surge to USD 20.72 billion from 2021 to 2026 at a CAGR of 25.98%.

Portable Speaker Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 18.28%
Market growth 2022-2026	USD 16.36 billion
Market structure	Fragmented
YoY growth (%)	17.56
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 42%
Key consumer countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Aliph Brands LLC, Altec Lansing Inc., Apple Inc., Bose Corp., Creative Technology Ltd., Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, Masimo Corp., Panasonic Corp., Pioneer Corp., Plantronics Inc., Samsung Electronics Co. Ltd., Sennheiser electronic GmbH and Co. KG, Shure Inc., Skyworks Solutions Inc., Sony Group Corp., Truvison Industries Pvt. Ltd., Yamaha Corp., and ZAGG Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Portable Speaker Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive portable speaker market growth during the next five years
• Precise estimation of the portable speaker market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the portable speaker industry across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of portable speaker market vendors

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