The global loudspeaker market is valued at US$ 3.73 Billion as of now and is expected to reach US$ 5.64 Billion by the year 2032 at a CAGR of 7.1% between 2022 and 2032.
Loudspeakers are being increasingly used to facilitate aural communication; as the frequency of conference seminars has increased manifold in the last few years. Also, these loudspeakers fall in the category of in-wall, compact size loudspeakers. They are frugal and have a level-headed sound range. Restaurants and cafes are well-identify with these loudspeakers.
Soundbars come across as the least obstrusive way of getting sound as impactful as premium picture on TV. They are capable of offering ability of streaming audio from almost any phone with absolutely no need of carving out for tower speakers or receivers and surrounding sound.
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Wireless speakers are in good demand due to proliferation of Wi-Fi-enabled mobile devices like laptops, smartphones, and tablets. Power consumption regarding loudspeakers does range between 210 and 100 W, inclusive of broad variations due to speaker sensitivity, audio volume, and amplifier volume. Future Market Insights has mentioned about these facts with future prospects in its latest market study entitled ‘Loudspeaker Market’.
Key Takeaways from Loudspeaker Market
- Europe holds the largest market share due to additional spending on at-home entertainment. The scenario is expected to persist even going forward.
- North America stands second with growing popularity of at-home entertainment. Also, more number of end-consumers are found to be having an ear for music herein.
- The Asia-Pacific is expected to witness a remarkable growth in loudspeaker market in the near future with middle-class population getting more inclined towards loud music.
- Smart speakers like Google Nest and Amazon Echo ought to witness a great demand overall. However, they are likely to get countered by Chinese vendors like Alibaba, Baidu, and Xiaomi.
“Increasing spending on entertainment to create greater strides for loudspeaker market”, says an analyst from Future Market Insights.
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Competitive Loudspeakers
- September 2021 witnessed an influx of the Bose Smart Soundbar 900 in the US. It is equipped with AirPlay 2 with ability of playing music in wireless mode to numerous rooms. It’s actually marketed in the form of successor to Bose Smart Soundbar 700. The ‘900’ version is compatible with Google Assistant and Amazon’s Alexa.
- Mclaren, in March 2021, announced that it would be launching 4 novel models in India in June 2021 – the 720S Coupe, the GT, Artura, and Spider. These vehicles are bound to encompass 12-speaker Bowers & Wilkins sound system as an outcome of partnership between McLaren and Bowers & Wilkins.
- JBL, in January 2021, did release JBL Bar 5.0 MultiBeam, which, in turn, doles render spacious 3D surround sound experience combining with Virtual Colby Atmos.
- Sonos, in May 2020, did launch Dolby Atmos and Voice Assistant-Equipped Arc Soundbar. This 5.0-channel surround sound has 3 angled tweeters and 8 woofers. With rising demand for smart homes, this soundbar is expected to go great guns in the forecast period.
- Bowers & Wilkins, in August 2021, did announce the 4th generation of flagship 800 series Diamond series, termed as ‘D4’. Every 800 Series Diamond speaker has a lab-grown diamond-dome tweeter. Diamond is known for its unique stiff-to-weight ratio. This renders it an optimum speaker material.
- Cerwin-Vega Inc., in June 2020, acquired Gibson Corporation’s Home Audio and Cerwin-Vega Pro brand. The basic objective is that of strengthening the foothold in home audio and professional category.
- JBL, in 2020, did release Clip 4 and Go 3 tiny Bluetooth speakers with upgradations in features and designs as compared to predecessors like IP67 water and dust-proofing capabilities, with the objective of addressing demand for technologically advanced gadgets.
What does the Report Cover?
- Future Market Insights offers an exclusive perspective and various real-time insights on the loudspeaker market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
- The research study is based on deployment (indoor and outdoor), by speaker design (with diaphragm and without diaphragm), and by type (soundbars, home theatre arrays, multimedia systems, portable loudspeakers, stereo systems, and likewise).
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Market by Category
Deployment:
- Indoor
- Outdoor
Speaker Design:
- With Diaphragm
- Without Diaphragm
Type:
- Soundbars
- Home Theatre Arrays
- Multimedia Systems
- Portable Loudspeakers
- Stereo Systems
- Others
Region:
- North America
- Latin America
- Asia Pacific
- Europe
- MEA
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About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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