Global Loudspeaker Market study offers detail overview of industry with all the requisite data to support tactical business decisions and come up with strategic growth plans. This study also proposes a comprehensive insight into the development policies and plans in addition to manufacturing processes and cost structures.
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The global loudspeaker
market size is expected to reach USD 8.48 billion by 2025. Loudspeaker is an
electrical device which contains one or more electro acoustic transducers,
which converts an electrical audio signal into a corresponding sound. Global
market of loudspeaker is expected to grow at healthy rate for the forecast
period owing to increase in extensive use consumer electronics and growing
preference of consumer for sound bars.
Use of loudspeaker in
consumer electronics and growing preference for better in home entertainment
are considered to be main drivers for loudspeaker industry. Speakers used in
mobile phone, television, laptops and consumer expectation for better quality
are expected to drive the market to a new high. Structural change in consumer
wealth is a restraint for the loudspeaker industry. Any change in consumer
income will affect the demand as it not a basic necessity.
Advancement in the
loudspeaker such offers great opportunity for the market. With the changing
consumer behavior it is observed that there is increase in demand for Wi-Fi
speakers, and sound bars due its mobility and better sound quality features. In
HD televisions due to its slick design company has to compromise on sound. Thus
to enhance the entertainment and sound experience, consumers are going for
additional speakers boosting the speaker demand. Blu-Ray Devices, DVD/CD
Players, Home Theatre Systems, MP3 players, PCs, LEDs, LCDs, and other
multimedia devices dictate market prospects for speakers.
Loudspeakers are segmented
by types which chiefly include pair speaker, satellite/subwoofer speaker, sound
bar, in wall speaker, outdoor speaker, and other loudspeaker. Subwoofer
speakers are more popular in home audio. The soundbar segment is expected to
grow at a CAGR over 8% from 2016 to 2025. They are small in size and have
placement flexibility. The satellite/subwoofer speaker has the largest market
share. Soundbars market is fastest growing due to its high demand due to its
feature such as multiple speaker better sound clarity, and can be mounted
alongside of the television.
On the basis of geography,
the market is segmented into five regions which include North America, Europe,
Asia-Pacific, Latin America, and Middle East and Africa. North America regional
market includes the U.S. and Canada. Europe regional market consists of
European Union, CIS and other non-member states. Asia Pacific regional market
includes Japan, China, India, Taiwan, Korea, and Australia. Latin America
mainly includes Brazil, Mexico, and other South American countries. European
loudspeaker market is expected to be key regional market owing to presence of
companies such as Harmen Corporation and Bose.
Key players in loudspeaker
industry are Bose, Audiovox Corp, Calix, Inc., Creative Technology Ltd,Dain
Electronics Co., JVC Kenwood Holdings, Dynaudio A/S, Elettromedia Srl, ELNO Ste
Nouvelle, Formosa Prosonic Industries Berhad, Genelec OY, Inc, Koninklijke
Philips Electronics Nv, Linn Products Limited, Mermaid Technology A/S, Monitor
Audio Limited, Optimus SA, Panasonic Corporation, Hitachi Ltd., Phonocar
S.P.A., Pioneer Corporation, Plantronics Inc, Renkus-Heinz, Inc., Rockford
Corp, Sica Altoparlanti Srl, Yamaha Corporation Sonus Faber S.P.A.,Samsung
Electronics Co. Ltd., Sony Corporation, Velodyne Acoustics, Inc., and Wilson
Audio Specialties Inc.,.
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