The new report by Expert Market Research titled, ‘Global Loudspeaker Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the global loudspeaker market, assessing the market based on its segments like product types and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 4.6%
The loudspeaker market is being driven by the growing adoption of loudspeakers for leisure activities. Loudspeakers have gained significant popularity owing to the convenience and portability of the product, making it ideal for relaxation and mood enhancement activities. It can also be used while travelling in a bus, train, or car. The loudspeakers are available in different sizes based on requirement. Over the forecast period, the growing adoption of loudspeakers in the classrooms to amplify the voice of the instructors is likely to propel the product demand. The installation of loudspeakers in a classroom enhances the delivery of the speech, making the lecture more effective for the students. In terms of region, the Asia Pacific occupies a significant share in the market, owing to the increasing adoption of speakers in automobiles. The installation of subwoofers in an automobile can enhance the driving experience by producing mild music with 3D surround sound. The market in the region is anticipated to be further aided by the rising disposable incomes, along with the growing demand for the product from the household sector.
Industry Definition and Major Segments
Loudspeaker, also known as electrostatic transducer, is a device which converts electrical energy into acoustic signals. A loudspeaker consists of a wide range of frequencies for high sound pressure level or high-fidelity applications. The range of frequencies generated by the loudspeakers are roughly 20 to 20,000 hertz.
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The various product types in the market include:
• Satellite
• Subwoofers
• In-wall
• Outdoor
• Soundbar
• Multimedia
The regional markets for loudspeakers include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The technological advancements in loudspeaker systems, which include the advancements in design, wi-fi connectivity, digital assistance, and Bluetooth, are likely to be a key trend in the global loudspeaker market. Some innovations include the ‘film’ speaker, which can be as thin as a paper and is multidirectional. The growing research and development activities to reduce the weight of the speakers and enhance their portability are likely to aid the market in the forecast period.
Key Market Players
The major players in the market are Altec Lansing LLC, Bose Corporation, Sound United, LLC, Dynaudio A/S, Harman International Industries, Inc., Logitech International S.A., Klipsch Group, Inc., and Sony Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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