Loudspeaker Market

Loudspeakers have become a top priority for outdoor entertainers as well as for cinema halls and restaurants. The growing popularity and increasing applications of loudspeakers at different places is among the key drivers of the loudspeaker market. The growth of the music streaming industry has also supported the loudspeaker market to a great extent. This has encouraged the adoption of loudspeakers for indoor use as it has become easier for users to access the content of their choice on-demand, thus eliminating the need for depending upon other sources such as cassettes and compact discs.

On the basis of type, the global loudspeaker market can be segmented into portable loudspeakers, soundbars, home theatre arrays, multimedia systems, stereo systems and others. On the basis of deployment, the global loudspeaker market is segmented into indoor and outdoor. On the basis of speaker design, the global loudspeaker market is segmented into with diaphragm and without diaphragm loudspeakers. However, owing to the low popularity and complex structure of without diaphragm loudspeakers, they are expected to witness a lower growth rate as compared to with diaphragm loudspeakers.

Loudspeakers have been popular among people who have a refined sense of music. Today, people who buy loudspeakers for home or indoor usage want these systems to produce sound of a higher quality as compared to normal speakers. Loudspeakers have different kinds of drivers for producing sound at specific frequencies, which responsible for the production of refined sound.

Different kinds of drivers are embedded into loudspeakers. Subwoofers, a sub-category of the woofer driver, is used only for the production of lowest-pitched sounds in the audio spectrum that are below 200 Hz for consumer systems and below 100 Hz for professional live sound. Woofers are drivers that are specifically made for low frequencies.

The market in the North America region is expected to present the most attractive opportunities for loudspeaker providers, followed by the Southeast Asia & others of APAC market. The loudspeaker market in SEA and others of APAC is estimated to expand at a significant CAGR in terms of value over the forecast period. In addition, the loudspeaker market in Latin America is also expected to witness significantly high growth.

The market value of loudspeakers in Eastern Europe is projected to register a total incremental opportunity of US$ 214.9 Mn. However, by the end of 2020, the North American loudspeaker market is expected to continue to dominate the global loudspeaker market due to the large presence of loudspeaker providers as well as high demand for the outdoor deployment loudspeakers in the region.

Some of the vendors in this study of the global loudspeaker market include Bose Corporation; Harman International Industries; Yamaha Corporation; Klipsch Group, Inc. (A VOXX International Company); LG Electronics Inc.; Sony Corporation; Logitech International S.A; Panasonic Corporation; Sound United LLC; Creative Technology Ltd. and Bowers & Wilkins.