Scope of the Study
Loud Speakers are electronic devices producing sound by converting an electrical audio signal. The loud speakers had become the top priority for outdoor as well as indoor entertainers. The increasing entertainment industry has increased the use of the loud speakers globally. The growing interest of people for live concerts and performances, including concerts, sporting events, and the outdoor events has boosted the market size.
The market study is being classified by Type (Smart Loud Speakers and Stereo Loud Speakers), by Application (Personal and Commercial) and major geographies with country level break-up. According to AMA, the Global Loud Speakers market is expected to see growth rate of 7.64% and may see market size of USD8.37 Billion by 2024.
Bose Corporation (United States), Sonance (United States), Cerwin-Vega (United States), Wharfedale (United Kingdom), Bowers & Wilkins (United States), Behringer (Germany), Peavey Electronics Corporation (United States), Klipsch Audio Technologies (United States), Dynaudio (Denmark), Vandersteen Audio (United States), HARMAN International (United States), Yamaha Corporation (Japan), LG Electronics (South Korea), Sony Corporation (Japan), Panasonic Corporation (Japan), JBL (United States) and Koninklijke Philips N.V. (Netherlands) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are KEF (United Kingdom), Cambridge SoundWorks (United States), Electro-Voice (United States), VOXX International (United States) and Sennheiser Electronic (Germany).
The high competitiveness in the global Loud Speakers market is due to the existence many regional and international providers worldwide. Also, these providers are progressively focusing on the manufacturing loud speakers products that provide high quality sound to gain the customers interest. Research Analyst at AMA predicts that United States, Europe Vendors will contribute to the maximum growth of Global Loud Speakers market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Loud Speakers market by Type, Application and Region. On the basis of Type, Smart Loud Speakers are dominating the market in the year 2018 where as Stereo Loud Speakers stood as second largest market share.
On the basis of application, Commercial segment is dominating the market in the year 2018 where as Personal segment stood as second largest market.
On the basis of geography, the market of Loud Speakers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Use of Loud Speakers For Aural Communication
- The use of loud speakers has increased for the aural communication where they need to represent in front of large audiences such as in concerts, conferences, seminars, and other places where the human voice cannot be audible at some distance.
- Rising Number Of Live Concerts And Outdoor Events
- Growing Outsourcing For Loud Speaker Production
- Harmful Health Effects on Children And Operating frequency rules and regulations by the Government
- Growing Adoption of Online Retail Channels
- Increasing Applications of Loudspeakers at Different Places
- Need For Additional Equipment For Better Sound Quality
- Increasing Demand for Compact Size Loud Speakers
Market Leaders and their expansionary development strategies
In September 2019, Sonance acquired James Loudspeaker. Sonance and James will continue to operate as separate companies while the combined team learns what makes each brand unique.
In August 2018, Bose launched a new wireless smart speaker and two new smart soundbars — the Bose® Home Speaker 500 for music, and the Bose Soundbar 700 and Soundbar 500 for music and home theater.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Loud Speakers Providers, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Users
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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