[306 Pages Report] As per newly released data by Future Market Insights (FMI), the loudspeaker market is estimated at US$ 3,726.9 Million in 2022 and is projected to reach US$ 5,639.1 Million by 2032, at a CAGR of 7.1 % from 2022 to 2032.
Sales of loudspeakers are on the rise due to:
Constant innovation in speaker technology promises to propel the loudspeaker market forward. The expanding music business, rising interest in soundbars, the rising popularity of wireless speakers like Wi-Fi and Bluetooth, increased demand for digital home audio devices, and rising consumer expenditure on multimedia systems are all factors fueling the loudspeaker market's expansion. The demand for loudspeakers accounts for about 35% of the total market for speakers worldwide.
Innovative Solutions are on the Rise as Paper Thin Loudspeakers Take Over the Market
Scientists at the Massachusetts Institute of Technology (MIT) in the USA have created a speaker as thin as paper. Incredibly lightweight. Researchers say that this adaptable loudspeaker can generate professional-grade audio (High-Quality Sound). Additionally, it folds flat for convenient storage. Different from conventional loudspeakers, this new development has won widespread acclaim.
Provides excellent sound quality
MIT Experts say the new speaker only needs a fraction of the power of conventional models to produce sound. Its high-quality home audio output is the result of the employment of specialized fabrication technologies. The sound coming from it is less distorted.
Power consumption will decrease.
Weighing in little less than a sheet of paper, the new outdoor speaker system is incredibly portable. It has been reported by the research community that this new speaker requires less electricity to operate. The head of the Massachusetts Institute of Technology claims that this speaker, which is disguised as a piece of paper, has two clips. This jack fits into the audio jack on your computer. This allows you to listen to your music of great quality while still enjoying it.
The technology utilized in this speaker is unlike any other.
Scientists say it behaves differently than conventional speakers. Both aesthetically and technologically. This novel loudspeaker uses piezoelectric material in the form of a very thin sheet. When this film is given electricity, it begins to move. That motion causes an audible sound to emanate from the system. This lightweight and portable outdoor speaker system may be hooked up to a phone or computer via a thin layer.
The scientists claim that soon, it will be possible to prepare it in the form of a roll. It's versatile enough to be used in the home, office, or car as wallpaper. You won't need to find a dedicated spot to store the speaker anymore. Your new outdoor speaker system can be mounted on the wall in any room you like.
The increasing popularity of seminars, conferences, and other major public events is driving the demand for loudspeakers.
In comparison to the 6.9% CAGR seen for loudspeakers between 2013 and 2021, a 7.1% CAGR is predicted for the period between 2022 and 2028. From a projected $3,726.9 Million in 2022, the global loudspeaker market is expected to reach $5,639.1 Million in sales by 2028.
| Attribute | Details |
|---|---|
| Loudspeaker Market Estimated Size (2022) | US$ 3,726.9 Million |
| Loudspeaker Market Projected Size (2032) | US$ 5,639.1 Million |
| Loudspeaker Value-based CAGR (2022 to 2032) | 7.1% |
| Loudspeaker Market Top 5 players' market share | 40% |
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Over the projection period, the loudspeaker market is expected to benefit from the increasing prevalence of e-commerce and m-commerce. Demand for loudspeakers is likely to rise throughout the projection period as a result of factors including rising internet penetration, rising urban population, and the presence of a robust distribution network.
Demand for wireless speakers is predicted to increase in response to the widespread adoption of Wi-Fi-enabled mobile devices such as smartphones, laptops, and tablets. Products with wireless connectivity features like Wi-Fi and Bluetooth are expected to rise in demand during the projected period. Industry participants might anticipate a technological advantage through developments in design, power usage, sound quality, and size.
Power consumption for loudspeaker systems typically ranges from 20 to 100 W, with wide variations due to factors such as audio volume, speaker sensitivity, and amplifier volume. Large-scale use of Wi-Fi networks, quick technological advancements, and the following development of novel systems, such as smart outdoor speaker systems, will all contribute to the loudspeaker market's expansion in the coming years.
One of the most important trends fueling the development of the loudspeaker industry is the increasing manufacturing of Bluetooth and Wi-Fi-equipped home audio systems, as well as the expanding use of the internet. For instance, in 2020, JBL released the Clip 4 and Go 3 tiny Bluetooth speakers, which had upgraded designs and features compared to their predecessors, such as IP67 water and dust-proofing capabilities, to satisfy the growing demand for technologically advanced gadgets.
With the introduction of wireless speakers, the business has increased dramatically. Kohler, a manufacturer of bathroom fittings, has introduced a new showerhead equipped with a Bluetooth speaker. Various colours, such as brushed nickel and oil-rubbed bronze, are available for the new Moxie 2.0 and Moxie 2.5 versions of the speaker that will be released in 2020.
Demand for Wi-Fi and Bluetooth-enabled devices is skyrocketing as the concept of smart living gains popularity. Investing in a wirelessly linked speaker can vastly improve the quality of the sound you hear. They can send sound to multiple rooms at once and be managed with a single app on a mobile device. Several well-known companies are making excellent use of these technologies, dispersing them throughout their many successful goods.
The first Alexa-enabled hands-free voice-activated speaker from Altec Lansing includes far-field speech technology called Versa, which can hear commands even in extremely noisy environments or from a considerable distance away. It's IP67 rated for resistance to water, snow, and dirt, and it has Wi-Fi and Bluetooth connectivity to boot.
Principal Consultant
The USA loudspeaker market is a massive one for loudspeakers, accounting for roughly 26.1% of sales, and is predicted to grow in the coming years. Consumer Technology Association estimates the wireless speaker industry to be worth $5,975 million by 2020, while the home theatre market is expected to be worth $87 million.
Key loudspeaker manufacturers should expect new revenue streams from the USA, driven in large part by the country's high preference for smart speakers. USA Apple AirPods and Samsung Galaxy Buds helped the market recover in 2020, leading to the sale of 67 million units and revenue of US$ 8.2 billion, increases of 35% and 31%, respectively, above the previous year's sales totals.
Companies like Acoustic Research are highly visible in the American market. Among the many wireless speakers currently available from the company are the Mainstreet Rechargeable Wireless Speaker (featuring customizable color-changing lighting), the Sedona Rechargeable Wireless Speaker (featuring an LED flickering flame light), and the Santa Cruz Portable Wireless Speaker (featuring an LED flickering flame light).
Germany is poised to take the regional loudspeaker market by storm and bring in a high share of the income. As the popularity of rock music continues to rise, this industry is expected to become the most lucrative revenue ecosystem for major loudspeaker manufacturers. The German loudspeaker market is expected to make up for around 30% of the total.
By the beginning of 2021, about 25% of all German adults will have their own smart outdoor speaker system. Several of the world's most renowned musicians, singers, performers, and producers hail from this kingdom. Additionally, it is the site of the world-famous Rock Park festivals.
These tendencies have resulted in a large increase in sales of loudspeakers used to augment the success of commercial gigs. However, the government's attempts to boost internet streaming services have generally helped maintain demand for cutting-edge sound equipment despite the COVID-19 pandemic's end to outdoor musical activity. One example is the June 2020 announcement by the German government of a €130 billion (US$150 billion) economic stimulus package for the country's suffering commercial sectors, which included a €1 billion payout to the cultural industry.
Companies in the loudspeaker industry are constantly coming up with new designs and features to try and gain a larger share of the market. Competition in this sector has heated up as more and more items have been introduced by various companies. KEF, Bose Corporation, Sonance, etc. are just a few of the market leaders. Some key developments in the loudspeaker market are-
The Bose Smart Soundbar 900 debuted in the USA in September 2021. The Bose Smart Soundbar 900 has AirPlay 2 and the ability to play music wirelessly to several rooms. Marketed as a successor to the Bose Smart Soundbar 700, the new Bose Smart Soundbar 900 is compatible with both Amazon's Alexa and Google's Assistant.
With McLaren's announcement in March 2021 that it would launch four new models in India the following June-the GT, the 720S Coupe, and Spider, and the Artura-Bowers & Wilkins can anticipate their cooperation to strengthen. McLaren vehicles will include a 12-speaker Bowers & Wilkins sound system, thanks to the partnership between the two companies.
The key companies operating in the loudspeakers market are:
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The global loudspeaker market reached a valuation of US$ 3,726.9 Million in 2022
The key trends driving the global loudspeaker market is the increase of knowledge of global warming taking place and hence the need for environmentally friendly products
The leading countries in the global loudspeaker market are the UK, USA and China.
1. Executive Summary | Loudspeaker Market
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
3. Market Background
3.1. Macro-Economic Factors
3.2. Forecast Factors - Relevance & Impact
3.3. Value Chain
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.5. Opportunity Analysis
4. Global Market Analysis & Forecast
4.1. Market Size and Y-o-Y Growth
4.2. Absolute $ Opportunity
5. Pricing Analysis
5.1. Pricing Analysis, By Product
5.2. Global Average Pricing Analysis Benchmark
6. Global Market Analysis by Deployment
6.1. Introduction
6.1.1. Market Value Share Analysis by Deployment
6.1.2. Y-o-Y Growth Analysis by Deployment
6.2. Historical Market Size (US$ Million) Analysis by Deployment, 2016 to 2021
6.3. Current Market Size (US$ Million) and Forecast by Deployment, 2022 to 2032
6.3.1. Indoor
6.3.2. Outdoor
6.4. Market Attractiveness Analysis by Deployment
7. Global Market Analysis by Speaker Design
7.1. Introduction
7.1.1. Market Value Share Analysis by Speaker Design
7.1.2. Y-o-Y Growth Analysis by Speaker Design
7.2. Historical Market Size (US$ Million) Analysis by Speaker Design, 2016 to 2021
7.3. Current Market Size (US$ Million) and Forecast by Speaker Design, 2022 to 2032
7.3.1. With Diaphragm
7.3.2. Without Diaphragm
7.4. Market Attractiveness Analysis by Speaker Design
8. Global Market Analysis by Type
8.1. Introduction
8.1.1. Market Value Share Analysis by Type
8.1.2. Y-o-Y Growth Analysis by Type
8.2. Historical Market Size (US$ Million) Analysis by Type, 2016 to 2021
8.3. Current Market Size (US$ Million) and Forecast by Type, 2022 to 2032
8.3.1. Portable Loudspeakers
8.3.2. Soundbars
8.3.3. Home Theatre Arrays
8.3.4. Multimedia Systems
8.3.5. Stereo Systems
8.3.6. Others
8.4. Market Attractiveness Analysis by Type
9. Global Market Analysis by Region
9.1. Introduction
9.1.1. Market Value Share Analysis by Region
9.1.2. Y-o-Y Growth Analysis by Region
9.2. Historical Market Size (US$ Million) Analysis by Region, 2016 to 2021
9.3. Current Market Size (US$ Million) and Forecast by Region, 2022 to 2032
9.3.1. North America
9.3.2. Latin America
9.3.3. Western Europe
9.3.4. Eastern Europe
9.3.5. South East Asia and Others of APAC
9.3.6. China
9.3.7. Japan
9.3.8. Middle East & Africa (MEA)
9.4. Market Attractiveness Analysis by Region
10. North America Market Analysis
10.1. Introduction
10.2. Historical Market Size (US$ Million) Analysis by Market Segment, 2016 to 2021
10.3. Market Size (US$ Million) and Forecast by Market Segment, 2022 to 2032
10.3.1. By Country
10.3.1.1. United States of America
10.3.1.2. Canada
10.3.2. By Deployment
10.3.3. By Speaker Design
10.3.4. By Type
10.4. Market Attractiveness Analysis
10.4.1. By Country
10.4.2. By Deployment
10.4.3. By Speaker Design
10.4.4. By Type
10.5. Market Trends
10.6. Key Market Participants - Intensity Mapping
10.7. Drivers and Restraints - Impact Analysis
11. Latin America Market Analysis
11.1. Introduction
11.2. Historical Market Size (US$ Million) Analysis by Market Segment, 2016 to 2021
11.3. Market Size (US$ Million) and Forecast by Market Segment, 2022 to 2032
11.3.1. By Country
11.3.1.1. Brazil
11.3.1.2. Mexico
11.3.1.3. Rest of Latin America
11.3.2. By Deployment
11.3.3. By Speaker Design
11.3.4. By Type
11.4. Market Attractiveness Analysis
11.4.1. By Country
11.4.2. By Deployment
11.4.3. By Speaker Design
11.4.4. By Type
11.4.5. By Vertical Market Trends
11.5. Key Market Participants - Intensity Mapping
11.6. Drivers and Restraints - Impact Analysis
12. Western Europe Market Analysis
12.1. Introduction
12.2. Historical Market Size (US$ Million) Analysis by Market Segment, 2016 to 2021
12.3. Market Size (US$ Million) and Forecast by Market Segment, 2022 to 2032
12.3.1. By Country
12.3.1.1. Germany
12.3.1.2. Italy
12.3.1.3. France
12.3.1.4. Spain
12.3.1.5. United Kingdom
12.3.1.6. BENELUX
12.3.1.7. Nordic
12.3.1.8. Rest of Western Europe
12.3.2. By Deployment
12.3.3. By Speaker Design
12.3.4. By Type
12.4. Market Attractiveness Analysis
12.4.1. By Country
12.4.2. By Deployment
12.4.3. By Speaker Design
12.4.4. By Type
12.5. Market Trends
12.6. Key Market Participants - Intensity Mapping
12.7. Drivers and Restraints - Impact Analysis
13. Eastern Europe Market Analysis
13.1. Introduction
13.2. Historical Market Size (US$ Million) Analysis by Market Segment, 2016 to 2021
13.3. Market Size (US$ Million) and Forecast by Market Segment, 2022 to 2032
13.3.1. By Country
13.3.1.1. Russia
13.3.1.2. Poland
13.3.1.3. Rest of Eastern Europe
13.3.2. By Deployment
13.3.3. By Speaker Design
13.3.4. By Type
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Deployment
13.4.3. By Speaker Design
13.4.4. By Type
13.5. Market Trends
13.6. Key Market Participants - Intensity Mapping
13.7. Drivers and Restraints - Impact Analysis
14. South East Asia and Others of Asia Pacific Market Analysis
14.1. Introduction
14.2. Historical Market Size (US$ Million) Analysis by Market Segment, 2016 to 2021
14.3. Market Size (US$ Million) and Forecast by Market Segment, 2022 to 2032
14.3.1. By Country
14.3.1.1. India
14.3.1.2. ASEAN
14.3.1.3. Australia and New Zealand
14.3.1.4. Rest of SEA and Others of APAC
14.3.2. By Deployment
14.3.3. By Speaker Design
14.3.4. By Type
14.4. Market Attractiveness Analysis
14.4.1. 13.4.1. By Country
14.4.2. 13.4.2. By Deployment
14.4.3. 13.4.3. By Speaker Design
14.4.4. 13.4.4. By Type
14.5. Market Trends
14.6. Key Market Participants - Intensity Mapping
14.7. Drivers and Restraints - Impact Analysis
15. China Market Analysis
15.1. Introduction
15.2. Historical Market Size (US$ Million) Analysis by Market Segment, 2016 to 2021
15.3. Market Size (US$ Million) and Forecast by Market Segment, 2022 to 2032
15.3.1. By Deployment
15.3.2. By Speaker Design
15.3.3. By Type
15.4. Market Attractiveness Analysis
15.4.1. By Deployment
15.4.2. By Speaker Design
15.4.3. By Type
15.5. Market Trends
15.6. Key Market Participants - Intensity Mapping
15.7. Drivers and Restraints - Impact Analysis
16. Japan Market Analysis
16.1. Introduction
16.2. Historical Market Size (US$ Million) Analysis by Market Segment, 2016 to 2021
16.3. Market Size (US$ Million) and Forecast by Market Segment, 2022 to 2032
16.3.1. By Deployment
16.3.2. By Speaker Design
16.3.3. By Type
16.4. Market Attractiveness Analysis
16.4.1. 15.4.1. By Deployment
16.4.2. 15.4.2. By Speaker Design
16.4.3. 15.4.3. By Type
16.5. Market Trends
16.6. Key Market Participants - Intensity Mapping
16.7. Drivers and Restraints - Impact Analysis
17. Middle East and Africa Market Analysis
17.1. Introduction
17.2. Historical Market Size (US$ Million) Analysis by Market Segment, 2016 to 2021
17.3. Market Size (US$ Million) and Forecast by Market Segment, 2022 to 2032
17.3.1. By Country
17.3.1.1. GCC Countries
17.3.1.2. South Africa
17.3.1.3. Rest of Middle East and Africa
17.3.2. By Deployment
17.3.3. By Speaker Design
17.3.4. By Type
17.4. Market Attractiveness Analysis
17.4.1. 16.4.1. By Country
17.4.2. 16.4.2. By Deployment
17.4.3. 16.4.3. By Speaker Design
17.4.4. 16.4.4. By Type
17.5. Market Trends
17.6. Key Market Participants - Intensity Mapping
17.7. Drivers and Restraints - Impact Analysis
18. Market Structure Analysis
18.1. Market Analysis by Tier of Companies
18.2. Market Concentration
18.3. Market Share Analysis
18.4. Technology Roadmap
19. Competition Analysis
19.1. Competition Dashboard
19.2. Competition Benchmarking
19.3. Profitability and Gross Margin Analysis by Competition
19.4. Competition Developments
19.5. Competition Deep Dive
19.5.1. Bose Corporation
19.5.1.1. Overview
19.5.1.2. Product Portfolio
19.5.1.3. Key Financials (Business Segment/Region)
19.5.1.4. Sales Footprint
19.5.1.5. Key Strategy
19.5.1.5.1. Marketing Strategy
19.5.1.5.2. Product Strategy
19.5.1.5.3. Channel Strategy
19.5.2. Harman International Industries
19.5.2.1. Overview
19.5.2.2. Product Portfolio
19.5.2.3. Key Financials (Business Segment/Region)
19.5.2.4. Sales Footprint
19.5.2.5. Key Strategy
19.5.2.5.1. Marketing Strategy
19.5.2.5.2. Product Strategy
19.5.2.5.3. Channel Strategy
19.5.3. Yamaha Corporation
19.5.3.1. Overview
19.5.3.2. Product Portfolio
19.5.3.3. Key Financials (Business Segment/Region)
19.5.3.4. Sales Footprint
19.5.3.5. Key Strategy
19.5.3.5.1. Marketing Strategy
19.5.3.5.2. Product Strategy
19.5.3.5.3. Channel Strategy
19.5.4. Klipsch Group, Inc. (A VOXX International Company)
19.5.4.1. Overview
19.5.4.2. Product Portfolio
19.5.4.3. Key Financials (Business Segment/Region)
19.5.4.4. Sales Footprint
19.5.4.5. Key Strategy
19.5.4.5.1. Marketing Strategy
19.5.4.5.2. Product Strategy
19.5.4.5.3. Channel Strategy
19.5.5. LG Electronics Inc.
19.5.5.1. Overview
19.5.5.2. Product Portfolio
19.5.5.3. Key Financials (Business Segment/Region)
19.5.5.4. Sales Footprint
19.5.5.5. Key Strategy
19.5.5.5.1. Marketing Strategy
19.5.5.5.2. Product Strategy
19.5.5.5.3. Channel Strategy
19.5.6. Sony Corporation
19.5.6.1. Overview
19.5.6.2. Product Portfolio
19.5.6.3. Key Financials (Business Segment/Region)
19.5.6.4. Sales Footprint
19.5.6.5. Key Strategy
19.5.6.5.1. Marketing Strategy
19.5.6.5.2. Product Strategy
19.5.6.5.3. Channel Strategy
19.5.7. Logitech International S.A
19.5.7.1. Overview
19.5.7.2. Product Portfolio
19.5.7.3. Key Financials (Business Segment/Region)
19.5.7.4. Sales Footprint
19.5.7.5. Key Strategy
19.5.7.5.1. Marketing Strategy
19.5.7.5.2. Product Strategy
19.5.7.5.3. Channel Strategy
19.5.8. Panasonic Corporation
19.5.8.1. Overview
19.5.8.2. Product Portfolio
19.5.8.3. Key Financials (Business Segment/Region)
19.5.8.4. Sales Footprint
19.5.8.5. Key Strategy
19.5.8.5.1. Marketing Strategy
19.5.8.5.2. Product Strategy
19.5.8.5.3. Channel Strategy
19.5.9. Sound United LLC
19.5.9.1. Overview
19.5.9.2. Product Portfolio
19.5.9.3. Key Financials (Business Segment/Region)
19.5.9.4. Sales Footprint
19.5.9.5. Key Strategy
19.5.9.5.1. Marketing Strategy
19.5.9.5.2. Product Strategy
19.5.9.5.3. Channel Strategy
19.5.10. Bowers & Wilkins
19.5.10.1. Overview
19.5.10.2. Product Portfolio
19.5.10.3. Key Financials (Business Segment/Region)
19.5.10.4. Sales Footprint
19.5.10.5. Key Strategy
19.5.10.5.1. Marketing Strategy
19.5.10.5.2. Product Strategy
19.5.10.5.3. Channel Strategy
20. Research Methodology
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Loudspeaker Market
