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Loudspeaker Market Report by Product Type (Satellite, Subwoofers, Soundbar, In-Wall, Outdoor, Multimedia), Application (Electronic Gadgets, Home Entertainment, Automotive, Communication, and Others), End User (Household, Commercial, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A4674
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Market Overview 2024-2032:
The global loudspeaker market size reached US$ 7.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.
|
Report Attribute
|
Key Statistics
|
|---|---|
|
Base Year
|
2023
|
|
Forecast Years
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2024-2032
|
|
Historical Years
|
2018-2023
|
|
Market Size in 2023
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US$ 7.8 Billion |
|
Market Forecast in 2032
|
US$ 10.9 Billion |
| Market Growth Rate (2024-2032) |
3.7%
|
Loudspeakers are electronic items used to convert electrical energy into acoustic energy. They are widely available in different sizes, types, and features to integrate with different devices. For instance, loudspeakers in sound reinforcement systems are efficient and durable and they have directivity control and power-handling capacity. These speakers find extensive applications in cinemas, theaters, concert halls, stadiums, and arenas wherein direction control of sound radiation and large acoustic power are required. Besides this, as loudspeakers provide wide-coverage angles, stereo imaging, clarity, and accurate and better sounding, their demand is rising around the world.
Loudspeaker Market Trends:
Governing agencies rely on loudspeakers in electronic public address systems to make announcements and spread awareness about a general issue among individuals. This, in confluence with the mass spread of the coronavirus disease (COVID-19), is positively influencing the need for loudspeakers to transit safety messages in public places. Apart from this, rising consumer spending on media and entertainment services, such as live events and films, acts as another major factor increasing the application of loudspeakers in the media and entertainment industry. Moreover, the emerging trend of home theatre systems on account of rapid urbanization, inflating income levels and rising Internet penetration is driving the sales of voice-activated loudspeakers worldwide. Furthermore, leading manufacturers are introducing commercial loudspeakers for easy installation in large-scale distributed establishments like retail stores, restaurants, bars and clubs, and hospitality venues. Besides this, due to the escalating demand for personalized content and enhanced user experience, these manufacturers are offering smart loudspeakers via online channels, which is impelling the market growth. This can be accredited to the thriving e-commerce industry and boosting sales of smart devices.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global loudspeaker market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product type, application and end user.
Breakup by Product Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Satellite
- Subwoofers
- Soundbar
- In-Wall
- Outdoor
- Multimedia
Breakup by Application:
- Electronic Gadgets
- Home Entertainment
- Automotive
- Communication
- Others
Breakup by End User:
- Household
- Commercial
- Others
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bose Corporation, Dynaudio AS (Goertek Inc.), Harbeth Audio Ltd., Harman International Industries Incorporated (Samsung Electronics Co. Ltd.), Koninklijke Philips N.V., Lenovo Group Limited, LG Electronics Inc., Panasonic Corporation, Peavey Electronics Corporation, Sony Corporation, Sound United LLC, Vandersteen Audio and VOXX International Corp.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Product Type, Application, End User, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Bose Corporation, Dynaudio AS (Goertek Inc.), Harbeth Audio Ltd., Harman International Industries Incorporated (Samsung Electronics Co. Ltd.), Koninklijke Philips N.V., Lenovo Group Limited, LG Electronics Inc., Panasonic Corporation, Peavey Electronics Corporation, Sony Corporation, Sound United LLC, Vandersteen Audio and VOXX International Corp. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global loudspeaker market was valued at US$ 7.8 Billion in 2023.
We expect the global loudspeaker market to exhibit a CAGR of 3.7% during 2024-2032.
The emergence of artificial intelligence-enabled, wireless, and portable loudspeakers to aid in promoting easy handling and providing enhanced consumer experience is primarily driving the global loudspeaker market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of loudspeakers.
Based on the product type, the global loudspeaker market can be segmented into satellite, subwoofers, soundbar, in-wall, outdoor, and multimedia. Currently, satellite holds the majority of the total market share.
Based on the application, the global loudspeaker market has been divided into electronic gadgets, home entertainment, automotive, communication, and others. Among these, home entertainment currently exhibits a clear dominance in the market.
Based on the end user, the global loudspeaker market can be categorized into household, commercial, and others. Currently, the household sector accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global loudspeaker market include Bose Corporation, Dynaudio AS (Goertek Inc.), Harbeth Audio Ltd., Harman International Industries Incorporated (Samsung Electronics Co. Ltd.), Koninklijke Philips N.V., Lenovo Group Limited, LG Electronics Inc., Panasonic Corporation, Peavey Electronics Corporation, Sony Corporation, Sound United LLC, Vandersteen Audio, and VOXX International Corp.
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