Global Portable Speakers Market Research Report: Information by Product Type (Mini, Pocket, Capsule and others), Connectivity Type (Bluetooth, Hybrid and others), Category (Premium and Mass-Market), Distribution Channel (Store-Based {Supermarkets & Hypermarkets, Specialty Stores and others} and Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027

Portable Speakers Market Scenario

Portable Speakers’ Market is projected to reach USD 16.91 Billion by 2025 at a CAGR of 11.14% between 2019 and 2025. The portable speaker’s market is fragmented with the presence of several regional players catering to the increasing demand. The large players operate through renowned brands in this market. Brands such as JBL, Harman Kardon, and Beats by Dre are recognized globally. High competition among the industry players leads to product innovation, which attracts more consumers, thereby drives market growth. To tap into the lucrative opportunities, many key players such as Sony Corporation, Apple, Inc., Bose Corporation, and Samsung Electronics are investing in this market. For instance, Bose Corporation heavily invested in R&D to launch a portable home speaker in September 2019, a battery-powered smart speaker that has Wi-Fi and Bluetooth connectivity and supports the Google Assistant and Amazon Alexa voice assistants.

Market Synopsis

The Global Portable Speakers’ Market has witnessed high growth in recent years owing to the increasing popularity of portable products. Portable speakers accounted for a significant share of around 24.94% of the global speaker’s market, which was valued at nearly USD 32.44 billion, in 2018. The use of portable speakers is growing among the youth as well as consumers participating in outdoor activities such as trekking and camping. The high sales of smartphones and the growing inclination for music while traveling is expected to result in a CAGR of 11.14% for the global market during the forecast period.

Portable speakers provide the benefit of playing audio on-the-go and ease of playing music around the house. The growing popularity of integrated music streaming platforms such as iTunes and Spotify are influencing changes in lifestyles with consumers preferring to use portable speakers in the kitchen, bathroom, open spaces, gymnasium, garage, and laundry room, among others. Online streaming accounted for 75% of the recording industry revenue in 2018, an increase of 10% from 2017. Cut-throat competition among the market players in terms of price, functions, quality, and design has led to high investments in R&D. Portable speaker manufacturers are launching innovative and elegant designs with attractive lighting to create traction among consumers. For instance, the JBL Pulse 3 by Samsung Electronics resembles a capsule and offers a 360° light show with sound. These features enhance the aesthetics of a room and can be used as décor on bedsides and coffee tables; they are also ideal for gifting. These factors are driving the sales of portable speakers across the world.

Market USP

Audio streaming on-the-go, ease of audio sharing, and hands-free phone calls

Market Drivers

• Introduction of Smart Devices: The popularity of smart devices has grown over the past few years as they offer the benefit of a touchscreen panel and voice control to connect with other smart gadgets using voice assistants. The popular voice assistants for portable speakers are Alexa, Google Assistant, Siri, and Cortana.

• Growing popularity of portable products

• Availability of different shapes and colors

• Low costs

Market Restraints

• Limited connectivity range


• Lack of richness and depth of sound as compared to AC-powered speakers

Portable Speakers’ Market Segmentation

By Product Type

• Mini: The largest segment of this market in 2018. Mini portable speakers occupy the least space and the most convenient to carry while traveling as compared to other product types. The segment is likely to account for the maximum share of the North American market during the review period. The popularity of music streaming platforms and increasing demand for compact multifunction devices have led to the growth of this segment.

• Pocket

• Capsule

• Others

By Connectivity Type

• Bluetooth

• Hybrid: The Hybrid segment is expected to dominate the market during the forecast period. It includes connectivity through Wi-Fi and Bluetooth and the majority of audio players are compatible with these technologies.

• Others: Due to frequent product launches and high technological advancements, the types of connectivity have increased, offering a large number of options to establish a stable connection. Hence, the other segment is expected to register the highest CAGR during the forecast period.

By Category

• Mass-Market

• Premium: The premium segment is expected to be the fastest-growing during the forecast period due to the increasing purchasing power of consumers in developing nations and superior design and audio output as compared to mass-market products.

By Distribution Channel

• Store-Based
  
  
  
  • Supermarkets & Hypermarkets
  
  
  • Specialty Stores
  
  
  • Others
  
  
  
  


• Non-Store-Based: The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements in the e-commerce industry, wide availability of various portable speaker models, and growing consumer preference for online purchase.

By Region

• North America: North America dominated the portable speaker’s market in 2018 and is projected to continue during the forecast period due to the high demand for music streaming in the US and Canada. Increasing sales of smartphones, tablets, laptops, and other devices are propelling the demand for portable speakers in the region. The growing trend of smart homes in the region with appliances and electronics controlled by gestures or voice are fueling the demand for smart portable speakers in North America.

• Europe

• Asia-Pacific: The market in the region is projected to register the highest CAGR during the forecast period. Asia-Pacific is a new revenue pocket for the portable speaker’s market due to growing product awareness and rising adoption of technology-driven products in the lifestyles of consumers.

• Rest of the World

Key Players

• Bose Corporation (US)


• Samsung Electronics, (Harman Kardon and JBL) (South Korea)


• Tribitaudio (China)


• Sony Corporation (Japan)


• Logitech Europe S.A. (Ultimate Ears) (Switzerland)


• Bang & Olufsen (Denmark)


• SoundWorks, Inc. (US)


• Apple Inc. (Beats Electronics LLC) (US)


• Anker Technology Ltd (UK)


• Polk Audio, LLC (US)


• Sonos Inc. (US)


• Boytone (US)


• Marshall Amplification PLC (UK)


• LG Corporation (South Korea)


• House of Marley, LLC (US)

Report Scope:

Report Attribute/Metric	Details
Market Size	USD 16.91 Billion (2025)
CAGR	11.14% (2019-2025)
Base Year	2019
Forecast Period	2027
Historical Data	2018
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product Type, Connectivity Type, Distribution Channel
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	Bose Corporation (US), Samsung Electronics, (Harman Kardon and JBL) (South Korea), Tribitaudio (China), Sony Corporation (Japan), Logitech Europe S.A. (Ultimate Ears) (Switzerland), Bang & Olufsen (Denmark), SoundWorks, Inc. (US), Apple Inc. (Beats Electronics LLC) (US), Anker Technology Ltd (UK), Polk Audio, LLC (US), Sonos Inc. (US), Boytone (US), Marshall Amplification PLC (UK), LG Corporation (South Korea), House of Marley, LLC (US)
Key Market Opportunities	Limited connectivity range. Lack of richness and depth of sound as compared to AC-powered speakers
Key Market Drivers	Introduction of Smart Devices. Growing popularity of portable products. Availability of different shapes and colors

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