Global Loudspeakers Industry (2020 to 2027) – Wider Availability of High-Speed Internet Amplifies Music Listener Numbers – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Loudspeakers – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Amid the COVID-19 crisis, the global market for Loudspeakers estimated at US$6.2 Billion in the year 2020, is projected to reach a revised size of US$8.8 Billion by 2026, growing at a CAGR of 5.9% over the analysis period.
The U.S. Market is Estimated at $1.7 Billion in 2021, While China is Forecast to Reach $1.8 Billion by 2026
The Loudspeakers market in the U.S. is estimated at US$1.7 Billion in the year 2021. The country currently accounts for a 27% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.8 Billion in the year 2026 trailing a CAGR of 9.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 5.3% respectively over the analysis period.
Within Europe, Germany is forecast to grow at approximately 3.7% CAGR while Rest of European market (as defined in the study) will reach US$2 Billion by the end of the analysis period. With the rise of digital music, streaming has outpaced CD to become the dominant format. While physical music sales steadily declined between with the advent of MP3 and file sharing, on the other hand, digital music sales witnessed exponential growth. The digital format facilitates the creation of new business models such as the widespread adoption of music streaming services.
Subwoofer Speakers Segment to Reach $1.2 Billion by 2026
In the global Subwoofer Speakers segment, USA, Canada, Japan, China and Europe will drive the 5.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$654.8 Million in the year 2020 will reach a projected size of US$957.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$169.4 Million by the year 2026, while Latin America will expand at a 7.3% CAGR through the analysis period.
Select Competitors (Total 306 Featured) –
- Altec Lansing, LLC
- Amaoto Industrial Co., Ltd.
- B&W Group Ltd.
- Bang & Olufsen
- Bose Corporation
- Boston Acoustics, Inc.
- Cambridge SoundWorks
- Creative Technology Ltd.
- DEI Holdings Inc.
- DEI Holdings Inc.
- Focus Audio, Inc.
- German Physiks
- Harbeth Audio Ltd.
- Harman International Industries, Inc.
- Jean-Marie Reynaud
- Klipsch Group, Inc.
- Nortek Inc.
- Polk Audio
- QLN AB
- Sammi Sound Tech Co Ltd.
- Sonance, Inc.
- Sonos. Inc.
- SpeakerCraft, Inc.
- Velodyne Acoustics, Inc.
- VOXX International Corporation
- Yamaha Corporation
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Loudspeakers: An Introduction
- Market Outlook
- Regional Market Analysis
- Digital Boom and Growth in Music Streaming Drives Demand for Wireless Speakers
- Rise in Home Entertainment Spending Drives Opportunities
- Competition
- Loudspeakers Competitor Market Share Scenario Worldwide (in %): 2019
- Soundbars (Product Segment) Global Competitor Market Share Positioning for 2019
- Recent Market Activity
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rise in Live Music Concerts and Events Drive Demand for high Quality Loud Speakers
- Increasing Use of High-Quality Surround Sound Systems in Movie Theaters
- Growing Population of Music Listeners & Rise of Mass-Market Audiophiles Augments Business Prospects
- Wider Availability of High-Speed Internet Amplifies Music Listener Numbers
- Connectivity: A Critical Feature for Modern Speakers
- Technology Advancements Drive Significant Improvements in Speaker Systems
- Consistent Advancements in Components Helps Improve Sound Systems
- Researchers Develop Nanoscale Skin-Attachable Loudspeakers & Microphones for Audio Output
- AI-enabled Speakers and Use of Digital Assistants in Speaker Systems Continue to Grow in Popularity
- Development of Micro & Small Speakers and Innovative Designs to Produce High Sound from Tiny Devices
- Focus on High Quality Music and MQA Technology Drives Demand for Quality Systems
- Sleek, Unobtrusive, Visually Appealing Designs Gain Traction
- Omnidirectional Speakers Grow in Prominence
- Growing Focus on Environmental Stewardship Among Consumers Drives Interest in Eco-Friendly Green Speakers
- HVT Technology Gains Attention
- Despite the Advent of Smaller and Lighter Speakers, Bulkier and Larger Speakers Benefit from Better Performance Capabilities
- Satellite/Subwoofer Speakers: A Key Beneficiary of At-Home Entertainment
- Growing Popularity of Assembled Speakers Drives Demand for Standalone Subwoofers
- In-Wall Speakers Gain Consumer Interest
- Rise in Outdoor Living Trend Augurs Well for Outdoor Speakers
- Soundbars: A Growing Threat to Traditional Loudspeakers
- New Soundbars Set to Redefine User Listening Experience
- Rise in Penetration of Thin, Flat Panel TVs Fuels Demand for Soundbars
- Increased Preference for Media Consumption on Smartphone Devices Drive Demand for Docking Speakers
- Favorable Demographic & Socio-Economic Trends Strengthen Market Prospects
- Rapid Growth in Urban Households
- Growing Affluence of Middle Class Consumer Segment
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/j7uook
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