The Portable Bluetooth Speakers Market to witness a growth rendition in the next decade

Handiness of speakers is a top buying criteria among consumers from around the world, especially in countries such as Brazil and Mexico. A latest study published by Persistence Market Research cites that high-on-convenience factor is driving the sales of portable Bluetooth speakers in Latin America. Portable Bluetooth speakers are suitable for outdoor use, making them a hit among outdoorsy Latin Americans. Proliferation of wireless technologies, coupled with increasing penetration of smartphones & other smart devices, in Latin America is also expected to drive the demand for portable Bluetooth speakers. Through 2025, sales of portable Bluetooth speakers in Latin America are expected to soar rapidly, recording revenue growth at a speedy CAGR of 10.4%.

The report predicts that Latin America will be fastest-growing region in the global market for portable Bluetooth speakers. In 2017, the global portable Bluetooth speakers market is pegged to reach an estimated US$ 4 Bn value. Changing taste of music listeners will play a pivotal role in boosting the sales of portable Bluetooth speakers across the globe. By the end of 2025, the global portable Bluetooth speakers market is anticipated to bring in more than US$ 8.5 Bn in revenues, registering a value CAGR of 9.9%.

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Factors Influencing the Sales of Portable Bluetooth Speakers

The report has assessed multiple indicators slated to impact the market’s growth in the years to come. Among these, following factors are expected to have greater impact on global sales of portable Bluetooth speakers:

Vast subscriber base for cloud-hosted music streaming services
Rising presence of wireless broadcast & streaming services
Increasing disposable incomes of consumers, particularly among young and urban demographics
Compatibility of portable Bluetooth speakers in connecting with multiple smart devices, (in some instances, simultaneously)
Advancements in audio technology, and popularity of devices such as wireless headphones, dual-tone microphones, and sound bars
The report has projected that demand for portable Bluetooth speakers in premium price range is gaining traction, particularly due to product credibility associated with premium speaker brands. In 2017, majority of portable Bluetooth speakers were used for outdoor and indoor purposes, revenues from which accounted for nearly 50% share on global market. High demand for portable Bluetooth speakers among car users is also expected to drive the market’s growth in the long run.

The report also projects that organized retail stores will be largest sales channel for portable Bluetooth speakers, accounting for more than 40% revenue share. However, steadfast emergence & penetration of e-commerce will render a boost in online sales of portable Bluetooth speakers through 2025.

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Market Players

Beats Electronics
Bose Corporation
Harman International Industries
Yamaha Corporation
Sony Corporation
JVCKENWOOD Corporation
Logitech International S.A
LG Electronics Inc.
Samsung Electronics
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This release was published on openPR.