Portable Loudspeaker Market Size, Share & Growth Report 2030

Report Description

Portable Loudspeaker Market Market Outlook:

The Global Portable Loudspeaker Market was valued at USD 18,429.2 Mn in 2020 and is projected to reach USD 39,982.1 Mn by 2028, expanding at a CAGR of 10.7% during the forecast period. The overall incremental opportunity is estimated to be USD 21,552.9 Mn from 2020 to 2028. Growing demand for Portable Loudspeaker in developed countries and rising music trends are projected to drive the market during the forecast period. Technological development of the product is anticipated to propel the market over the forecast period.

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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 are similar to wired traditional loudspeakers; however, they transmit audio signals using radio frequency (RF) waves rather than over audio cables. Wireless speakers are composed of two units: a main speaker unit combining the loudspeaker itself with an RF receiver, and an RF transmitter unit. An amplifier is integrated in the speaker's cabinet, as the RF waves are not enough to drive the speaker. This integration of amplifier and loudspeaker is known as an active loudspeaker.

Portable loudspeakers have zero or minimal wires connecting the speakers to the sound system. It allows to put speakers anywhere within the transmission range without worrying about tripping over or hiding wires that lead back to the sound system. This simplifies setting up a home theatre system almost anywhere.

Wireless loudspeakers are popular in outdoor speaker systems. If one wants to set up a speaker system on a deck, patio or swimming pool area, a wireless loudspeakers system is ideal. In the US, the bands of frequencies allotted to devices such as wireless speakers include 902 to 908 megahertz, 2.4 to 2.483 gigahertz, and 5.725 to 5.875 gigahertz. Manufacturers of loudspeakers design them to be as lightweight as possible while producing the maximum amount of audio output efficiency.

Speakers, including subwoofers, produce better sound quality. They are reasonably able to satisfy your listening requirements. Sometimes, they are found with a tweeter, a mid-range speaker for better quality sound to produce. Plus, they are occasionally powered and unpowered.

Scope of Portable Loudspeaker Market Report  

The report on Portable Loudspeaker Market includes an assessment of the market, size, share, trends, segments, and country markets. Overview and dynamics have been included in the report.

Portable Loudspeaker Market Market Dynamics

The Coronavirus disease 2019 (COVID-19) pandemic highlighted economic disparities, global interdependence, and governance challenges. Pandemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. Companies investing in political, business, and financial stability, as opposed to decreasing global risks, implement strategies to overcome the pandemic situation.

Manufacture of Portable Loudspeakers was affected during the pandemic, due to restrictions and closure of global industries. Inability of several workers to appear on-site affected the manufacturers of Portable Loudspeakers negatively. Various states permitted essential employees to remain in facilities, whereas other employees were required to discharge their responsibilities from home. This group of personnel faced a large number of new challenges within their remote workplace.

The supply chain management is facing difficulties, due to the COVID-19 outbreak. Biotechnological and pharmaceutical companies worked along with governments to control the COVID-19 outbreak by helping in vaccine development and addressing medicine supply chain challenges. Industries other than the healthcare industry faced significant challenges during the lockdown period.

Demand for Portable Loudspeakers decreased during the pandemic, due to closure of manufacturing units during the lockdown. Demand declined during the pandemic, due to slowdown in demand from various end-users. Increasing number of COVID-19 cases led to disruptions in the demand for Portable Loudspeakers, which in turn, impeded the growth of the market.

Governments imposed various restrictions on trade and commerce, which affected various sectors negatively. Globally, governments-imposed lockdowns, which negatively affected the Portable Loudspeaker market, owing to disruptions in supply chain.

The global economic expansion is projected to continue over the next decade, fueled by the growth of developing industries. COVID-19 and escalation of tariff wars between the US and China, are projected to create short-term risks and disturbances. Issues related to supply chains are created in the Portable Loudspeaker market in many regions, due to the COVID-19 pandemic situation. The market is hampered, due to decreasing production activities and declining growth of the economy.

Manufacturing execution systems provide businesses opportunities to track production and other manufacturing plant activities in real-time. This greatly reduces the need for on-site and shop floor staff, thereby complying with COVID-19's lockdown and social distance mandates. The Portable Loudspeaker manufacturing industry has been significantly growing and is expected to reach the pre-COVID-19 market size during the forecast period.

Various technological advancements took place in audio technology and audio devices, which changed the method of playing music. Advancement in audio technology is creating high demand for portable loudspeakers, which provide high-quality audio and music, resulting in increasing sales and revenue generation. Recent advancements in the market include sound beaming, which tracks and locates the position of ear and sends audio as ultrasonic waves by utilizing 3D sensing modules.

Portable Loudspeaker Market Segmental Outlook

By Type Segment

Based on Types, the Portable Loudspeaker Market is divided into wired and wireless portable speaker. 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.

Wireless speakers play audio from local storage as well as from online platforms if connected via internet, through wireless technologies such as Bluetooth, Wi-Fi, and NFC. Wi-Fi connects over long distances. These speakers are commonly used for "whole house" audio systems.

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By Application Segment

Based on applications, the global portable loudspeakers market is segmented into Automotive, Residential, Outdoor, Commercial, and Others. 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. Apart from music and other audio, it allows to send or receive hands-free calls while driving.

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.

By Distribution Channel Segment

Based on distribution channels, the global portable loudspeakers market is segmented into online and offline channels. 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.

Online marketing tools are used to target new customers and website analysis tools to gain insight into the needs of customers. 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. This sales channel is widely preferred, as it enables tangible checking of products before purchasing.

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Portable Loudspeaker Market Region Wise Outlook

On the basis of regions, the market is categorized as North America, Europe, Asia Pacific, Latin America, and Rest of the World. The market in North America is expected to expand at a significant CAGR during the forecast, owing to the presence of large number of market participants in the region, specifically in the US. Additionally, an established digital audio industry in the US is further expected to boost the market growth in the region. This is estimated to foster the growth of Portable Loudspeaker Market in Asia Pacific

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Key Benefits for Industry Participants & Stakeholders

• In-Depth Analysis of the Portable Loudspeaker Market.
• Historical, Current and Projected Market Size in Terms of Value.
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on From Portable Loudspeaker Market Performance