"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.

"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.

"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.

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 study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Loudspeaker market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Loudspeaker market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Loudspeaker market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Loudspeaker market?
• Which is the largest regional market for Loudspeaker market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Loudspeaker market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Loudspeaker market worldwide?