Market Overview:
Pro Audio Market was valued at USD 2.04 billion in 2021 and is expected to reach USD 3.78 billion by the year 2028, at a CAGR of 9.2% over the forecast period 2022- 2028.
Pro audio equipment or professional audio equipment refers to devices that reproduce, record, or process sound on a professional level. This equipment is used to produce noise and error-proof audio mixes. Pro audio equipment is used for advertisement, music recordings, and other professional activities. Professional audio equipment is such as amplifiers, headphones, DJ equipment, stage equipment, speakers, and others. Pro audio equipment such as DAW, audio interface, audio monitors, and others, are normally used in modern studios, dedicated home studios, complexes, pro studios, bedroom studios, and semi-pro studios for better sound quality. For instance, 360-reality audio by Sony offers the consumer a premium sound experience in the production of motion arts, graphics & animations, and video games. Hence, the latest features and advancements in technology help to increase the market for professional audio equipment. Moreover, Pro speakers hold large shares in pro audio equipment. Revenue in the Speakers segment amounts to US$9.18bn in 2022.
Major Key Players for Pro Audio Market:
- Sennheiser
- Yamaha
- Audio-Tehcnica
- Shure
- AKG
- Blue
- Lewitt Audio
- Sony
- Takstar
- MIPRO
- Allen&heath
- TOA
- Wisycom
- Beyerdynamic
- Lectrosonic
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Market Dynamics and Factors:
Pro audio market demand is increasing due to the factors such as a rise in demand for HD & ultra HD sound quality. This equipment is used by professionals like music production units, and artists for live concerts and song recording, good sound quality is an essential element that boosts the need for pro audio equipment. An increase in adoption of Wi-Fi and Bluetooth-based devices, and ease of connectivity with the network, drive the professional audio equipment market growth. Additionally, these are also used to enhance the customer or user experience in various locations such as pubs, malls, sports complexes, and stadiums. For instance, restaurant owners are using professional equipment to enhance dining experiences across various countries. Hence the expansion of the music industry propels the growth of the Pro Audio Market. However, the high initial cost hampers the market growth for pro audio equipment.
Pro Audio Market Report Highlight:
- By product, the speaker segment is expected to have the maximum market share in pro audio equipment during the projected period. Adoption of pro speakers by commercial as well as residential sectors propels the growth of the market.
- By distribution channels, the offline segment is predicted to expand the most in the Pro Audio Market during the forecast year. Professional audio stores and music stores are preferred by an individual due to the transparency and testing ability provided by them boosts the growth of the market.
- By region, North America is expected to dominate the Pro Audio Market, during the projected period. The advanced infrastructure of the music industry and a large number of music production houses support the growth of the Pro Audio Market in North America.
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Key Industry Development:
- In March 2022, Pro Audio Technology launched a new line of five modular amplifiers—the MA-4400, MA-4242, MA-9900, MA-9942 and MA-9999—intended for use by integrators to power audio systems.
- In May 2021, WORK PRO Audio launched in ISE Barcelona a new range of two-way professional loudspeakers that are aimed at the installation and live sound markets.
Pro Audio Market Segmentation:
By Product
- Speakers
- Mixers
- Amplifiers
- Others
By Distribution Channels
- Online
- Offline
For this report, Introspective Market Research has segmented the Pro Audio Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Turkey
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Vietnam
- Thailand
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Iran
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of LATAM
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Scope of the Report:
The objective of the research is to provide the market knowledge and strategic insights to assist decision-makers in making informed investment decisions and identifying potential gaps and growth opportunities. Historical revenue and sales volume are reported, and additional data is triangulated using top-down and bottom-up methodologies to predict forecast numbers for important regions covered in the research, as well as classified and well-known Types and end-use industries. Pro Audio Market study explores the competitive landscape of the global market. In addition to rival market share research, in-depth profiling, product/service, and business overviews, the study focuses on BCG matrix, heat map analysis, and SWOT analysis to better correlate market competitiveness. Five forces analysis, Ansoff matrix, PESTEL analysis, and value chain analysis are used to better understand market conditions.
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