March 28, 2020

Loudspeaker Market | Key Players are Altec Lansing, Audiovox Corporation, B&W Group Ltd., Bose Corporation, Boston Acoustics Inc., Definitive Technology, among others.

According to a new market research report published by Credence Research “Global Loudspeaker Market – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the loudspeaker market was set to grow with a CAGR of 7.0 per cent during the forecast period from 2019 to 2027.

Market Insights

The global market for loudspeaker is driven by the increasing use of Wi-Fi enabled devices. There has been a significant increase in the use of Wi-Fi enabled devices such as smartphones, speakers, wearable devices and other digital devices around the globe. This growth is due to the increasing disposable income of the population across the globe, along with the emergence of low-cost consumer electronics manufacturers in the Asian region.

Browse the full report at https://www.credenceresearch.com/report/loudspeaker-market

In addition, the increasing use of internet services has also driven the growth of the market. The total number of Internet users worldwide was estimated to be around 3.8 billion in 2018, up from 3.65 billion in 2017. The development of network infrastructure and the decline in the price of data services have encouraged the adoption of Internet services across the board. In addition, the government’s support initiative to promote digitalisation has further accelerated the adoption of Internet services.

Multimedia systems are estimated to be the most lucrative segment of the market for loudspeakers. Multimedia systems are widely used across homes and restaurants for entertainment purposes. Changing consumer preferences around the globe and increasing urbanization are driving demand for multimedia systems. In addition, the increase in disposable income of individuals around the globe has further accelerated the adoption of multimedia systems.

Europe is one of the most lucrative regions in the loudspeaker market. The wide-scale adoption of the internet service across the region is the primary factor driving the market growth. The growing adoption of the media streaming services propelling the demand for the loudspeakers market. Additionally, the growing number of smartphone and internet users acts as a major force driving the market. Further, Asia Pacific is expected to register highest growth in the market during the forecast period. The market here is primarily governed by India, China, Japan, South Korea and Southeast Asian countries having huge consumer base for such consumer electronic products.

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Some of the prominent vendors in the market are Altec Lansing, Audiovox Corporation, B&W Group Ltd., Bose Corporation, Boston Acoustics Inc., Creative Labs Inc, Definitive Technology, Directed Electronics Inc, KLH Audio, Harman International Industries Inc., Polk Audio, Klipsch Group Inc., and Yamaha Corporation of America.

Report Scope by Segments

By Product Segment (2017–2027; US$ Bn)

  • Portable Loudspeakers
  • Soundbars
  • Home Theatre Arrays
  • Multimedia Systems
  • Stereo Systems
  • Others

By Geography Segment

  • North America (U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (Middle East & Africa, Latin America)

Credence Research is providing Free Sample Get it here: https://www.credenceresearch.com/sample-request/59821

 

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