The new report by Expert Market Research titled, ‘Global Loudspeaker Market Report and Forecast 2022-2027’, gives an in-depth analysis of the Global loudspeaker market, assessing the market based on its segments like type, and 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:
- Historical Market Size (2020): USD 6.8 Billion
- Forecast CAGR (2022-2027): 4.6%
Market Overview (2017-2027)
The growing popularity of loudspeakers among consumers looking to improve their listening and cinematic experiences at home is driving the global loudspeaker business. Soundbars, for example, increase not only the entire listening experience of users but also the aesthetics of their homes due to their sleek and exquisite design. Various manufacturers are attempting to improve the product’s quality and design, which is projected to boost the market’s growth. Aside from that, the development of smart soundbars with increased acoustic performance, real-time tuning, built-in voice assistants, and rich bass for movies, music, and gaming, among other things, is expected to drive product sales in the forecast period, hence assisting the market.
Industry Definition and Major Segments
A loudspeaker is a device that converts electrical energy into acoustic signals, which are then radiated in a room or open space to reproduce sound. Loudspeakers produce a frequency range of around 20 to 20,000 hertz.
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On the basis of type, the market is segmented into:
On the basis of region, the market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Growing awareness of a soundbar’s cost-effectiveness is expected to be a major factor driving the market throughout the forecast period. The cost of soundbar speakers is usually lower than that of conventional stereo sound systems. Meanwhile, the subwoofers market is expected to expand significantly over the projection period. Subwoofers’ improved bass response and sound clarity, as well as their increased usage in soundbars for a better music experience during house parties and gaming, are some of the drivers that are expected to boost the segment’s growth.
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., Sony Corporation, and 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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