The Europe Portable Bluetooth Speaker Market would witness market growth of 10.9% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 18,830.0 thousand units, showcasing a growth of 10.6% (2019-2022).
Wi-Fi networks are becoming more prevalent, and the number of connected devices is increasing, which has increased the need for wireless access in urban homes. In addition, the wireless communication capabilities of speakers are presently a significant market driver. This pattern has contributed to the development of smart speakers.
Various speakers, such as sound bars, portable mobile speakers, and wall units, have recently been outfitted with enhanced wireless networking capabilities. In light of this, there is an increased demand for smart speakers. Due to changing consumer lifestyles and a greater desire for entertainment, high-end home theatre systems are also gaining popularity. This in turn creates more demand for subwoofer systems, in-wall speakers, and amplifiers could be advantageous. In order to increase revenues, well-known businesses have been concentrating on quality and technology.
According to the government of the United Kingdom, overseas citizens made 31.2 million visits to the United Kingdom in 2022. UK residents created 71.0 million trips abroad in 2022. The travel and tourism industry in the UK and other regions has driven the demand for portable Bluetooth speakers. Travelers value these devices' versatility, portability, and convenience, which enhance their travel experiences and provide entertainment on the go. Manufacturers have recognized this trend and have developed components and designs that cater to the needs of travelers, thus stimulating market growth.
The Germany market dominated the Europe Portable Bluetooth Speaker Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,370 million by 2030. The UK market is exhibiting a CAGR of 9.9% during (2023 - 2030). Additionally, The France market would experience a CAGR of 11.7% during (2023 - 2030).
Based on Price Point, the market is segmented into Economy, Mid-Range, and Premium. Based on Application, the market is segmented into Residential, and Commercial. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Portable Bluetooth Speaker Market will Hit USD 25.2 Billion by 2030, at a CAGR of 11.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Harman International Industries, Inc., Bose Corporation, Sony Corporation, Marshall Group AB(Zound Industries International AB), Apple Inc., Bang & Olufsen A/S, Logitech International S.A, Plantronics, Inc., VOXX International Corporation and Fugoo.
By Price Point (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Application (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Distribution Channel (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Country (Volume, Thousand Units, USD Billion/Million, 2019-2030)
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