A new report by Persistence Market Research has claimed that “growing penetration of smart devices along with various internet services has led to an upsurge in demand for portable Bluetooth speakers globally.”

The firm expects the global portable Bluetooth speakers market to see a growth of 9.9% CAGR over the next five years.

What’s more, they say the premium market will become even more of a focus – growing from 37.9% in 2016 to 50% in 2025.

The two key drivers highlighted by the report as culpable for the growth are the increasing dominance of massive music streaming players like Spotify and the rise of smart home solutions like Google Home and Amazon’s Echo.

While the report says that in-store retail outlets will represent a major sales channel for portable Bluetooth speakers, the emergence of the e-commerce platforms is likely to boost the market penetration and online sales for portable Bluetooth speakers throughout 2025.