According to a recent market study published by Growth Market Reports, titled, "Global Portable Loudspeakers Market by type, by applications, by distribution channel, and by regions: Size, Share, Trends and Opportunity Analysis, 2021-2028", the market was valued at USD 18,429.2 Million in 2020 and is expected to grow at a rate of 10.7% by 2028. Wireless technology is continually evolving, and it has changed significantly since the first technologies were invented, following the discovery of radio waves in 1880. Some of the most impressive advancements in wireless technology came about recently. The wireless network sector is poised to make significant changes soon. Innovation in the wireless industry is showing no signs of slowing down.

Request a free sample copy @ https://growthmarketreports.com/request-sample/4054

The Global Portable Loudspeakers Market has been segmented into type, applications, distribution channel, and regions. Based on types, the global portable loudspeakers market is segmented into wired and wireless portable speaker. Based on applications, the global portable loudspeakers market is segmented into automotive, residential, outdoor, commercial, and others. Based on distribution channels, the global portable loudspeakers market is segmented into online and offline channels. On the basis of regions, the portable loudspeakers market is segmented as North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.

A loudspeaker, also called a speaker, is used as a sound reproduction device that converts electrical energy into acoustical signal energy which is radiated into a room or open air. Portable Loudspeakers are available in a variety of sizes, and types including wired and wireless models. The portable loudspeaker is a combination of an amplifier and an audio output system with wireless connectivity that needs to be paired with one or more devices such as smartphones, tablets, iPods, or computers. Thus, portable speakers are designed in such a manner that they can be moved or carried easily at different places. The portable loudspeaker receives digital audio streams from the host device, which are typically compressed. It decompresses, decodes, and amplifies the audio through built-in speakers.

Wireless speakers encompass all same benefits as wired speakers, with an added flexibility that helps to connect to the world of digital audio. These devices help to play music, stream podcasts over the internet, or configure the smartphone to use a loudspeaker. Bluetooth speakers are popular as companion devices to smartphones and tablets. By pushing a button, these units are "paired“, connected by short-range link, with a Bluetooth-enabled host device through which audio playback or streaming is undertaken.

Designed for portability, these speakers run on battery power and are smaller than other types of speakers. Wi-Fi speakers connect to a home network and communicate over TCP/IP. Wi-Fi connect over longer distances than Bluetooth, hence these speakers are commonly used for "whole house" audio systems. Wi-Fi delivers the same basic convenience as Bluetooth, using the Wi-Fi connection of a phone to play music over an external speaker or sound system. Just like speakers that use Bluetooth connectivity, it works with a subscription music service app such as Spotify (via Spotify Connect) or Apple Music, a radio service like Pandora or TuneIn, or a personal music collection.

As per Growth Market Reports industry analyst Raksha Sharma, “The global Portable Loudspeaker market is anticipated to witness significant growth during forecast period 2021-2028. The demand for Portable Loudspeaker slightly decreased during the pandemic owing to lockdown, and government various restrictions on trade and commerce, which affected various sectors negatively. Moreover, factors such as prevalence of technological advancement, growing trend online digital audio streaming platforms, rising demand for portable loudspeaker are major factors propelling the market growth.

The Wireless segment is projected to expand at a significant CAGR during the forecast period, as transmitting audio-files data is possible through wireless technologies such as Bluetooth, Wi-Fi and NFC to wireless portable loudspeakers. The global portable loudspeaker market is dominated by the market in North America, which is primarily driven by factors such as increasing wireless technology advancements and booming music industry.

Key Takeaways from the Study

  • The wired portable loudspeaker segment is projected to expand at a significant CAGR during the forecast period, as it transmits data through wired cable with high audio quality.
  • The wireless portable loudspeaker segment held a considerable market share and is expected to continue to do so during the projection period, as it offers to connect to the world of digital audio without any physical cable connection.
  • The automotive segment is projected to expand at a significant CAGR during the forecast period, as portable loudspeakers are used in various automobiles such as cars, buses, trucks, and trailers.
  • The residential segment held a considerable market share and is expected to continue to do so during the projection period, as portable loudspeakers are placed and played in any part/ room of house according to convenience.
  • The outdoor segment is expected to expand at a high growth rate, as portable loudspeakers are carried outside and played without any power connection, as they are rechargeable. It is mostly carried in outdoor places such as parks, open fields, and lawns.
  • The commercial segment held a significant market share during the projection period, as portable loudspeakers are used for commercial activities such as offline audio advertising, ceremonial events, and concerts.
  • The online channel segment is projected to expand at a significant CAGR during the forecast period, as it allows to expand business beyond local customers and deliver to new customers globally quickly.
  • The offline channel segment held a considerable market share and is expected to continue to do so during the projection period, as it allows one to see and experience the product directly and accordingly make relevant purchases.
  • The global portable loudspeakers market is dominated by the market in North America, which is primarily driven by advancement in technology.
  • The portable loudspeakers market in Asia Pacific is expected to hold a considerable share of the global market during the forecast period, owing to rising industrial hubs and manufacturing activities in the region. Most of the loudspeaker hardware and its internal electronic components such as drivers and amplifiers are majorly manufactured in countries such as China and Taiwan.
  • The portable loudspeakers market in Middle East & Africa constituted a substantial market share in 2020, due to increasing number of tourist sites, amusement parks, and restaurants.
  • The market in Latin America is anticipated to grow at a steady rate and continue to do so during the forecast period, owing to large portion of young population in the region and increasing popularity of music among them.

Report Scope

Report Metric

Details

Market Value in 2020

USD 18,429.2 Million

Market Growth Rate (from 2021 to 2028)

10.7%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 – 2028

Market Segments

Type, Applications, Distribution Channel, and Regions.

Region Scope

North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Key Companies Profiled

Bose Corporation, Bowers & Wilkins, DYNAUDIO., Edifierr, FOCAL-JMLAB, Fugoo, Harman International, Huawei Technologies Co., Ltd, InMusic, LLC, KEF International, Klipsch Group, Inc, Koninklijke Philips N.V, LG Electronics, Logitech, Martin Logan, Music Tribe Global Brands Ltd, QSC, LLC, Quested Limited Inc.., SAMSUNG ELECTRONICS CO., LTD, Sony Group Corporation, and VOXX International.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

 

Target Audience

  • Demand Side: General Public, Concerts, Event organizers, Restaurants, and others.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: Bureau of Indian Standards (BIS), The Federal Communications Commission (FCC), and others.