Global Loud Speakers Market 2017-2021
About Loud Speakers
The market will experience a high growth, which is attributed to the growing number of smart homes globally that is continuously increasing the demand for loudspeakers. With the advancing technologies, there is a continuous change in consumer preferences. Because of the increased disposable income, the spending capability of individuals on leisure activity has increased in developed and developing countries like the US, the UK, France, Germany, China, and India. Therefore, the availability of the advanced surround sound technology has increased the demand for speaker worldwide.
Technavio’s analysts forecast the global loud speakers market to grow at a CAGR of 7.53% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global loud speakers market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of loudspeakers by location, type, and geography.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Loud Speakers Market 2017-2021
Technavio recognizes the following companies as the key players in the global loud speakers market: Bose, DEI Holdings, HARMAN International, VOXX international, and Yamaha.
Other Prominent Vendors in the market are: Atlantic Technology, Bowers & Wilkins, Cambridge SoundWorks, Electro-Voice, JBL, KEF, Koninklijke Philips, Logitech, Panasonic, Pioneer, Pyle, RCF, Sennheiser Electronic, and Shure.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is rising number of live concerts and outdoor events. The growth in the number of live music concerts and outdoor events is driving the demand for high-quality loudspeakers. There is an increase in the number of talent hunt shows and musical educational institutions that are supporting the growth of new artists globally. In addition, the popularity of nightlife in terms of pubs and discos have made individuals passionate about live performances by musicians, bands, and DJs.”
According to the report, one driver in market is wireless streaming of audio contents. One of the major factors driving the sales of wireless outdoor loudspeakers globally is the ability to easily stream audio contents wirelessly. Wireless speakers consume lesser space than home theaters and do not require wiring. Outdoor loudspeakers come in various sizes and design to suit customers’ requirements. Most of the portable devices such as laptops, smartphones, and tablets are equipped with Wi-Fi and Bluetooth connectivity, which help them stream contents wirelessly. Therefore, the ability of outdoor loudspeakers to stream audio contents wirelessly and easily is one of the major drivers of the market.
Further, the report states that one challenges in market is technological challenges. To pair with the Bluetooth-enabled outdoor loudspeakers, users must keep the Bluetooth of their mobile devices in switch on mode. Keeping the Bluetooth in switch on mode for long hours drain the battery of devices. Even though there are vendors, such as Bose and Yamaha, who offer small-sized Bluetooth speakers without compromising the sound quality but are priced in a range of $200-$230. This is expensive for a large number of individuals. Manufacturers are trying to increase the power of the Bluetooth-enabled outdoor loudspeaker to meet the expectations of users.
Bose, DEI Holdings, HARMAN International, VOXX international, Yamaha, Atlantic Technology, Bowers & Wilkins, Cambridge SoundWorks, Electro-Voice, JBL, KEF, Koninklijke Philips, Logitech, Panasonic, Pioneer, Pyle, RCF, Sennheiser Electronic, and Shure.