Portable Speakers Market Forecast

The portable Speakers Market Size was valued at USD 6.2 billion in 2022. The Portable Speakers market industry is projected to grow from USD 6.9 Billion in 2023 to USD 17.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.50% during the forecast period (2023–2032).

Portable speakers generally sold in a variety of colors and shapes such as capsule and pocket. Furthermore, market players go the extra mile to produce portable speakers with several patented technologies to create traction among consumers and survive in the competitive market. For instance, the Bose Sound link operates on technology where sound passes through an inbuilt tunnel for amplification and produces a deep and immersive sound. Moreover, manufacturers are producing portable speakers with high durability and resistance to water.

• The increasing demand for wireless speakers
• The growing popularity of smartphones and other portable devices
• The rising disposable income of consumers
• The increasing popularity of outdoor activities
• The growing popularity of smart speakers

The portable speakers market is segmented by product type, distribution channel, and region. By product type, the market is segmented into wireless speakers, wired speakers, and Bluetooth speakers. Wireless speakers are the most popular type of portable speaker, accounting for the largest share of the market. Wired speakers are gaining popularity due to their lower price and better sound quality. Bluetooth speakers are becoming increasingly popular due to their convenience and portability.

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By distribution channel, the market is segmented into offline and online channels. Offline channels are the dominant distribution channel for portable speakers, accounting for the largest share of the market. However, the online channel is growing rapidly due to the increasing popularity of e-commerce.

By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for portable speakers, followed by Europe. Asia Pacific is the fastest growing market for portable speakers due to the rising disposable income of consumers and the increasing popularity of wireless speakers.

Key Companies Profiled : Bose Corporation (US), Tribitaudio (China), Samsung Electronics (Harman Kardon and JBL) (South Korea), Polk Audio, LLC (US), Sonos Inc. (US), Boytone (US), Marshall Amplification PLC (UK), and Sony Corporation (Japan)

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