Portable Speakers’ Market is projected to be valued at USD 16.91 Billion by 2025, registering a CAGR of 11.14% between 2019 and 2025. Portable speakers are 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.
Market USP
Higher sound level than phone speakers and cost-effective as compared to AC-powered speakers.
Growth Opportunities in the Market
Unique designs and low power consumption of hybrid portable speakers: Hybrid portable speakers have an integrated circuit that offers longer battery playtime as compared to other connectivity types. Nowadays, consumers are seeking products with multiple connectivity options due to technological advancements, widespread use of smartphones, and availability of high-speed Internet. Market players are further investing in the development of unique designs such as cubes, cartoon characters, lanterns, and key chains.
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)
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