"Technological advancement is driving the loudspeaker market growth"
Globally, the loudspeaker market is expected to grow with a CAGR of 7.0% during the forecast period from 2019 to 2027. The market is driven by the advancement in the sounds technology over the years. The speakers market has evolved significantly over the years from the multi driver audio speakers to the smart and connected speakers. This advancement in the sound technology has fueled the competition among the market players and resulted in the development of the rapidly advancing consumer electronics. The development in the loudspeakers adds new features and creating new avenues for the application ranging from medical to industrial sector. Furthermore, the growing adoption of the internet services and Wi-Fi enabled devices is further accelerating the demand for the loudspeaker market. Additionally, consistently growing disposable income of the individuals across the globe is augmenting the market.
Market Synopsis
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"Sound bar are dominating the loudspeakers market"
Sound bar is the leading the loudspeaker segment with the share of more than 30% in terms of revenue in 2018. The growth of the market is credited to the growing disposable income of the individuals across the emerging economies. The sound bars are widely used by the users to enhance the audio quality of the music across the indoor and outdoor application. The systems come with the wireless technology that can connect with the any portable digital device such as MP3 players, laptops, smartphones and IPods. The advancement in the design and the raw material of the sound bars has further augmented the demand for the market. On the other hand, stereo systems are estimated to grow significantly during the forecast period due to the large scale adoption of the media streaming services across the globe.
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"Asia Pacific is leading the loudspeakers market"
Asia Pacific is leading the loudspeakers market with over 30% share in the revenue in 2018. The presence of several regional and multinational speaker manufacturers in the region supports the growth of the market. The improving economic condition in the Southeast Asia along with the rising disposable income in the region is also propelling the market growth. Furthermore, the growing trend of parties, sports competition and cultural fest across the region is accelerating the adoption of the loudspeakers.
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The prominent vendors in the loudspeakers market are Altec Lansing, Audiovox Corporation, B&W Group Ltd., Bose Corporation, Boston Acoustics Inc., Creative Labs Inc, Definitive Technology, Directed Electronics Inc, KLH Audio, Harman International Industries Inc., Polk Audio, Klipsch Group Inc., and Yamaha Corporation of America.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The loudspeaker market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global loudspeaker market based on product and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Product Segment (2017–2027; US$ Bn)
• Portable Loudspeakers
• Soundbars
• Home Theatre Arrays
• Multimedia Systems
• Stereo Systems
• Others
|
|
Geography Segment (2017–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What was the market size of Loudspeaker in 2018 and forecast up to 2027?
- Which is the largest regional market for Loudspeakers?
- What are the major trends followed in Loudspeaker market across different regions?
- Who are the key companies in the Loudspeakers market?
- What are the key strategies adopted by the leading Loudspeaker companies in market?
Unique data points of this report
- Statistics on Loudspeakers and spending worldwide
- Recent trends across different regions in terms of adoption of Loudspeaker for industries
- Notable developments going on in the industry
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
