The market size for portable speakers reached USD 6.2 billion in 2022. Projections suggest that the portable speakers industry will expand from USD 6.9 billion in 2023 to USD 17.8 billion by 2032, demonstrating a compound annual growth rate (CAGR) of 12.50% during the forecast period from 2023 to 2032.
The South Korea Portable Speakers Market Research Report provides in-depth research and insights into the market size, revenues, major categories, growth drivers, limiting factors, and regional industrial presence. The purpose of the market research study is to thoroughly investigate the Consumer and retail sector and gain a grasp of the business and its commercial potential. As a result, the customer obtains broad knowledge about the industry and business from the past, present, and future perspectives, allowing them to intelligently spend money and deploy resources.
In addition, this research study includes current assessments and estimates for all industrial categories and geographical locations. The South Korea Portable Speakers Market research report is the result of months of hard work by knowledgeable forecasters, imaginative analysts, and astute researchers. Using the specific and up-to-date information provided in this report, businesses can gain an understanding of the types of consumers, consumer demands and preferences, their perspectives on the product, their purchasing intentions, their response to a specific product that is already on the market, and their varying tastes about a specific product that is already on the market.
Competitive Landscape
The notable players of the market are Bose Corporation (US), Tribitaudio (China), Samsung Electronics (Harman Kardon and JBL) (South Korea), Polk Audio, LLC (US), Sonos Inc. (US), Boytone (US), Marshall Amplification PLC (UK), and Sony Corporation (Japan)
Research Objectives:
FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.