Loudspeaker Market: Snapshot
Rise in the demand for soundbars across the globe is projected to help the global loudspeaker market gain a valuation of US$ 8.48 Bn by 2025. Moreover, the market for loudspeaker is estimated to be driven by a surge in the spending on entertainment by consumers from across the globe.
Over the period of past few years, there has been notable changes in the lifestyle as well as preferences of consumers from around the world. This factor is playing key role in the expansion of the global loudspeaker market. Furthermore, the expansion of the m-commerce and e-commerce sectors is expected to favor sales the growth in the global loudspeaker market in the upcoming years.
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The global loudspeaker market is expanding on the back of surge in urban populace globally, availability of a sturdy distribution network for market players, and a rise in the Internet penetration globally. In the recent years, the demand for different Wi-Fi enabled devices including laptops, tablets, and smartphones is on the rise. This factor is resulting into increased sales of loudspeakers, which in turn, is bolstering the market growth. In addition, the increased demand for Bluetooth and Wi-Fi-enabled products worldwide is anticipated to create profitable opportunities in the global loudspeaker market during the forecast period.
Many loudspeaker manufacturers are increasing the focus on improving the quality of the products they offer. Hence, they are seen investing sizable amount of money and time in the research and development activities. Besides, companies operating in the loudspeaker market are focusing on the development of technologically advanced products. Therefore, they are improving and adding different features of loudspeakers such as the design, sound quality, size, and power consumption. These initiatives are prognosticated to result into the expansion of the global loudspeaker market during the forecast period.
The global loudspeaker market is driven by the changing preferences and improved lifestyle of customers coupled with a growing use of wireless technology. The hi-tech developments in the field of sound quality technology as well as design will continue to fuel the growth of this market. Innovations in terms of size and devices consuming less energy are pushing the growth of the market further. The customer spending in the entertainment segments is increasing and this is encouraging the growth of the global loudspeakers market. The access to strong delivery network is making possible for customers to choose from various international brands. High speed internet is enabling online purchases of loudspeakers across the world, boosting their market.
The growing use of Wi-Fi enabled and Bluetooth enabled devices is also one of the reasons behind the positive development of this market. Players are using improved quality of materials and advanced technology so as to provide good value for money to their customers and this is aiding the growth of the loudspeaker market. Focus on developing micro and small speakers that give loud sound is one of the key trends within the market. Smart devices and connected devices are also gaining traction in this industry. However, the health effects on children and aged people will restrict their use. In addition to this, operating frequency rules and various regulations implemented by governments across the globe will also hamper the growth prospects of this market.
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Global Loudspeaker Market: Overview
The rapid technological advancements in size, design, power, and sound quality have rendered the nature of the global loudspeaker market dynamic. Loudspeakers are electromagnetic transducers, which convert an electrical signal into a corresponding sound. They are available in various types, including multimedia speaker, soundbar, subwoofers, outdoor speaker, satellite/subwoofer, and in-wall speaker. The increasing demand for minimal wiring and compact systems are prompting manufacturers to innovate new types of loudspeakers.
The research report provides a detailed data and analysis on the global loudspeaker market and its affiliated industries. To compile this study, data has been collected and verified from a number of paid and unpaid sources, including presentations, white papers, press releases, and journals. It investigates the trends and opportunities of the market and the extent to which they impact the growth of the market. It presents the statistics and information regarding the market at both global and regional levels. It offers qualitative and quantitative insights into the competitive landscape of the market. It reviews the global loudspeaker market for the period between 2017 and 2025, taking 2016 as the base year.
Global Loudspeaker Market: Drivers and Restraints
The rising disposable income coupled with the increasing spending on entertainment, especially in-home entertainment is providing a fillip to the global loudspeaker market. Consumers are spending hefty amounts to upgrade their home entertainment systems for better sound quality and experience. In addition, the growing penetration of downloadable music and online buffering sites is encouraging consumers to upgrade their music and sound systems. The expanding base of youth population, particularly in urban areas, is also working in favor of the market.
Moreover, the advent of e-commerce is boosting the sales of loudspeakers. On the flip side, the presence of a large number of local players, who are offering their products at low costs, is exerting pricing pressure on international players. This is, in turn, adversely affecting the overall revenue generation of the market.
Global Loudspeaker Market: Geographical Segmentation
The key segments analyzed in the report based on geography are Europe, North America, Asia Pacific, and Rest of the World. North America and Europe are expected to command a substantial cumulative share in the global loudspeakers market throughout the review period. The growth of these regions can be largely attributed to the growing popularity of in-home entertainment and high disposable incomes of the populace. The increasing inclination, especially of youth, towards video and audio entertainment, along with the rising sales of digital music, is supplementing the uptake of loudspeakers in these regions. However, the weak macroeconomic factors in Europe are estimated to slow down the growth of the region over the forthcoming years.
Asia Pacific will emerge to be a lucrative market for loudspeakers during the same span. The presence of a large number of local and international manufacturers is providing a significant boost to the growth of the region. The widening base of youth population, growing popularity of soundbar, and rising disposable income are translating into the greater demand for loudspeakers in the region.
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Global Loudspeaker Market: Competitive Landscape
The majority of players in the global loudspeaker market are aiming at expanding their customer base by launching innovative products. They are focusing towards incorporating latest technologies in their offerings to enhance their visibility in the market. Collaborations and partnerships are also commonly adopted strategies by key players to consolidate their presence in the market. Some of the prominent companies operating in the market are Bose Corporation, B&W Group Ltd., Harman International Industries Inc., Creative Labs Inc, Klipsch Group Inc., Boston Acoustics Inc., Audiovox Corporation, Yamaha Corporation of America, and Directed Electronics Inc.
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Companies Mentioned in the Report
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