Global Portable Loudspeaker Market to Surpass USD 56.38 Billion By 2031| Growth Market Reports

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Jun 13, 2023, 10:30 ET

PUNE, India, June 13, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Portable Loudspeaker Market Segments - By Type (Wired, Wireless), Application (Automotive, Residential, Outdoor, Commercial, and Others), Distribution Channels (Online, Offline), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 22.58 billion in 2022 and is expected to surpass USD 56.38 billion expanding at a CAGR of 10.7% by the end of 2031. The market is propelled by growing demand for portable loudspeakers in developed countries and rising music trends.

Key Market Players Profiled in the Report

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

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of the market segments, which include type, application, distribution channels, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

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Highlights on the Segments

On the basis of region, the global portable loudspeaker market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to dominate the global market due to the presence of major players in the region.

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Key Takeaways from the Study:

A loudspeaker is a device that converts electrical energy into acoustical signal energy, which reproduces sound.
Portable loudspeaker decompresses, decodes, and amplifies the audio through built-in speakers.
Advancement in audio technology is anticipated to create lucrative opportunities for market players.
The wired portable loudspeaker segment is projected to expand at the fastest CAGR during the forecast period as it transmits data through a wired cable with high audio quality.
The automotive segment is anticipated to hold a major share of the market due to the high demand for portable loudspeakers from various automobiles, such as cars, trucks, buses, and trailers.
The outdoor segment is expected to dominate the market during the forecast period. Portable loudspeakers are rechargeable and played without any power connection and can be carried outside.

Read 254 Pages Research Report with Detailed TOC on "Global Portable Loudspeaker Market Segments - by Type (Wired, Wireless), Application (Automotive, Residential, Outdoor, Commercial, and Others), Distribution Channels (Online, Offline), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

Type

Wired
Wireless

Application

Automotive
Residential
Outdoor
Commercial
Others

Distribution Channels

Online
Offline

Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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