Portable Speaker Market Size to Grow by USD 16.36 billion| Find Future Trends, Analysis, and Insights | Technavio
Growing popularity of multi-room streaming will be one of the key trends in the portable speaker market during 2022-2026
NEW YORK, May 11, 2022 /PRNewswire/ -- The global portable speaker market is a part of the global consumer electronics market within the global household durables market. Apart from the market in focus, Technavio's market analysis reports also provide in-depth coverage of the external factors influencing the parent market growth potential in the coming years.
In this report, Technavio defines 2021 as the base year and 2022-2026 as the forecast period. The size of the portable speaker market is anticipated to grow by USD 16.36 billion from 2021 to 2026. Moreover, the growth momentum of the market will accelerate at a CAGR of 18.28% during the forecast period. Our report describes in detail the various factors that are responsible for the market growth and the growth momentum.
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What are the Some of the Topics Covered in this Report?
What are the Various Segments Covered in this Report?
What are the Factors Driving the Growth of the Portable Speaker Market?
The growth of the portable speaker market will be driven by the rise in the number of smart homes. In these homes, all consumer electronic devices, media and entertainment gadgets, and other smart electronics are connected to the home network. Wireless portable speakers facilitate the communication between the devices connected to the home network and provide easy streaming of content such as music and videos.
What are the Trends Supporting the Growth of the Portable Speaker Market?
Growing popularity of multi-room streaming is a key trend that will support the growth of the portable speaker market. Audio devices can be wirelessly connected with technologies such as Bluetooth, Wi-Fi, or AirPlay, even if the speakers are located in different rooms. Bluetooth speakers constitute more than 75% of the portable speaker market.
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Which are the Major Vendors Operating in the Portable Speaker Market?
According to Technavio, the major vendors operating in the portable speaker market include 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.
Is the Market Fragmented or Concentrated?
The portable speaker 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. Vendors compete in terms of differentiated product offerings as well as business expansions. Some of the major players have a vast geographical presence and greater market outreach.
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Distribution Channel
6 Market Segmentation by Technology
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
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