The global portable Bluetooth speaker market is driven by the increasing demand for portable and wireless audio solutions and the growing popularity of music streaming services. Portable Bluetooth speakers are compact and wireless, making them ideal for outdoor use, traveling, and other activities. Key players in the portable Bluetooth speaker market include companies such as JBL, Bose, and Sony.
The market is expected to grow in the future due to the increasing demand for high-quality and portable audio solutions, the growing popularity of music streaming services, and the increasing focus on the development of advanced features, such as water resistance and voice control. Additionally, the growing demand for smart speakers with built-in voice assistants is expected to drive the growth of the portable Bluetooth speaker market.
Change in taste of listening to music among consumers
The format of music is gradually changing to digital, hi-fi systems and manufacturers are designing, developing and pursuing innovation in sound systems. In the past, consumers focused on speakers with high watts featuring better sound quality. However, residential users are limited in terms of compatibility and loud music may be unpleasing and disturbing to neighbors.
The customer need has changed to innovation. Key purchases of hi-fi systems in the recent past have been with Wi-Fi connection, Bluetooth, plug-in of various card reader types, USBs including supported files or even a mixture with disco lighting, and so on.
Global Bluetooth Speaker Market Attractiveness, By Price Range – 2017 to 2025
The mid-range segment is projected to be the most attractive segment in the global portable Bluetooth speaker market during the forecast period. However, the low-range segment is expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, the low-range segment is expected to register a CAGR of 10.1% during the forecast period while the mid-range segment follows close with a 10.0% CAGR.
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