Loudspeaker Market Competitive Environment & Forecast 2017 – 2025April 9, 2021
Global Loudspeaker Market: Overview
The rapid technological advancements in size, design, power, and sound quality have rendered the nature of the global loudspeaker market dynamic. Loudspeakers are electromagnetic transducers, which convert an electrical signal into a corresponding sound. They are available in various types, including multimedia speaker, soundbar, subwoofers, outdoor speaker, satellite/subwoofer, and in-wall speaker. The increasing demand for minimal wiring and compact systems are prompting manufacturers to innovate new types of loudspeakers.
The research report provides a detailed data and analysis on the global loudspeaker market and its affiliated industries. To compile this study, data has been collected and verified from a number of paid and unpaid sources, including presentations, white papers, press releases, and journals. It investigates the trends and opportunities of the market and the extent to which they impact the growth of the market. It presents the statistics and information regarding the market at both global and regional levels. It offers qualitative and quantitative insights into the competitive landscape of the market. It reviews the global loudspeaker market for the period between 2017 and 2025, taking 2016 as the base year.
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Global Loudspeaker Market: Drivers and Restraints
The rising disposable income coupled with the increasing spending on entertainment, especially in-home entertainment is providing a fillip to the global loudspeaker market. Consumers are spending hefty amounts to upgrade their home entertainment systems for better sound quality and experience. In addition, the growing penetration of downloadable music and online buffering sites is encouraging consumers to upgrade their music and sound systems. The expanding base of youth population, particularly in urban areas, is also working in favor of the market.
Moreover, the advent of e-commerce is boosting the sales of loudspeakers. On the flip side, the presence of a large number of local players, who are offering their products at low costs, is exerting pricing pressure on international players. This is, in turn, adversely affecting the overall revenue generation of the market.
Global Loudspeaker Market: Geographical Segmentation
The key segments analyzed in the report based on geography are Europe, North America, Asia Pacific, and Rest of the World. North America and Europe are expected to command a substantial cumulative share in the global loudspeakers market throughout the review period. The growth of these regions can be largely attributed to the growing popularity of in-home entertainment and high disposable incomes of the populace. The increasing inclination, especially of youth, towards video and audio entertainment, along with the rising sales of digital music, is supplementing the uptake of loudspeakers in these regions. However, the weak macroeconomic factors in Europe are estimated to slow down the growth of the region over the forthcoming years.
Asia Pacific will emerge to be a lucrative market for loudspeakers during the same span. The presence of a large number of local and international manufacturers is providing a significant boost to the growth of the region. The widening base of youth population, growing popularity of soundbar, and rising disposable income are translating into the greater demand for loudspeakers in the region.
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Global Loudspeaker Market: Competitive Landscape
The majority of players in the global loudspeaker market are aiming at expanding their customer base by launching innovative products. They are focusing towards incorporating latest technologies in their offerings to enhance their visibility in the market. Collaborations and partnerships are also commonly adopted strategies by key players to consolidate their presence in the market. Some of the prominent companies operating in the market are Bose Corporation, B&W Group Ltd., Harman International Industries Inc., Creative Labs Inc, Klipsch Group Inc., Boston Acoustics Inc., Audiovox Corporation, Yamaha Corporation of America, and Directed Electronics Inc.
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Companies Mentioned in the Report
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