A New Study Provides Fresh Insights Into Key Trends that Will Keep the Loudspeakers Market Moving Into 2027
The global market for Loudspeakers is forecast to reach 51.2 billion units by 2024, driven by the rapid rise of streaming video-on-demand and parallel increase in at-home movie watching; growing number of cloud music streaming subscriptions and the resulting need for whole house music and multi-room audio systems.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Loudspeakers market. Report segmentation includes Product Segment (Soundbars, Satellite/Subwoofer Speakers, Subwoofer Speakers, Outdoor Speakers, In-Wall Speakers, Other Product Segments)
21 June 2:25 A.M., California/Marketwire/ - According to the new market research report, the global market for Loudspeakers is forecast to reach 51.2 billion units by 2024, driven by the rapid rise of streaming video-on-demand and parallel increase in at-home movie watching; growing number of cloud music streaming subscriptions and the resulting need for whole house music and multi-room audio systems. The market stands to benefit from the rise of at-home entertainment and the migration to digital forms of entertainment and service delivery platforms. Launch of bandwidth intensive 4G technology, massive improvements in audio and video streaming and development of affordable internet connected TVs are primary factors driving the home entertainment trend.
Against the backdrop of the current golden age of digital entertainment, there is a radical increase in the number of hours spent by people watching movies, listening to music and playing video games at home. With all current generation movies and videos featuring immersive HD image resolution and 7.1 surround sound, there is a strong need for high fidelity audio. Asia-Pacific ranks as the fastest growing market led by digitalizing lifestyles of the middle class population and a parallel increase in appetite for digital consumer technologies; increased consumer preference for affordable assembled speakers to supplement audio performance of flat panel TVs; developing internet and telecom industry and the resulting leapfrogging of Southeast Asian countries to digital forms of entertainment that provide opportunities for loudspeakers ranging from docking speakers, sound bars to whole house audio and multi-room sound solutions.
Key Competitors Covered in the Report
Altec Lansing LLC
Amaoto Industrial Co. Ltd.
B&W Group Ltd.
Bang & Olufsen
Boston Acoustics Inc.
Creative Technology Ltd.
DEI Holdings Inc.
Focus Audio Inc.
Harbeth Audio Ltd.
Harman International Industries Inc.
Klipsch Group Inc.
Sammi Sound Tech Co Ltd.
Velodyne Acoustics Inc.
VOXX International Corporation
Geographies Analyzed in the Report
Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 2923. Among this pool, 527 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 88 unique participations, a total of 41 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
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Global Industry Analysts, Inc.