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Loudspeaker Market Business Development Analysis and Future Challenges by 2024

Loudspeaker Market

The North America and Europe loudspeaker market size will be driven by the increase in buying and installation of home entertainments. However, frail macroeconomic factors and lack of growth in wages & income might hinder the growth over the coming years. Growing population of music listeners, increasing digital music sales and popularity of audio & video entertainment segments are expected to impact the regional market positively over next decade. The U.S. is at the forefront of installing and buying the upcoming technologies such as wireless loudspeaker market and home entertainment.

The main demand for the loudspeaker market is witnessed across several applications such as commercial, home audio and consumer. Major product segments include satellite, sound bar, subwoofer, in-ceiling, in-wall, multimedia, outdoor and home theatre. The soundbar speaker has wireless technologies such as Bluetooth, NFC and Wi-Fi connectivity embedded into it.

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Customers such as business owners and residential users, install subwoofer and satellite speakers for home, leisure and hospitality sector which gives them better sound experience. They are used to produce low pitch audio frequencies. The quality of audio produced from these speakers is offering growth opportunities to subwoofer and satellite speakers in the loudspeaker market. Increase in the demand for connected and smarter devices in the hospitality segment might be a better opportunity for wireless loudspeaker market share.

Harmful health effects on children & other user groups and the operating frequency rules and regulations by the government are the major factors which may hinder the loudspeaker market size. These factors possibly will not have long-term adverse effects on the customers due to the technological advancements.

The industry players include Sony, Bose Corporation, Yamaha Corporation of America, Cambridge Sound Works, Inc., Definitive Technology, Polk Audio, Beats Inc, Audiovox Corporation, Altec Lansing, Directed Electronics, Inc., Boston Acoustics B&W Group Ltd., Creative Labs, Inc., KLH Audio Systems, SpeakerCraft, Inc., Klipsch Group, Inc., Harman International and Sonance.

In 2014, Harman International declared its acquisition of AMX through The Duchesses Group for USD 365 million. This was to integrate audio-video converting solutions into a specialized segment offering. In January 2016, Harman International publicized amplifier line and JBL Club Series speaker for the car audio market.

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