Loudspeaker Market Report

Due to rising demand for exceptional audio quality, the global loudspeaker market is anticipated to experience rapid expansion over the forecast period. The market participants of the global loudspeaker market could benefit from a wide range of new growth opportunities due to an increase in consumer expenditure on various forms of entertainment. The need for loudspeakers is also anticipated to increase in the coming years due to changing consumer lifestyles and preferences.  Additionally, the market for loudspeakers is increasing significantly with the introduction of wireless speakers. As the idea of smart living becomes more and more popular, demand for Wi-Fi and Bluetooth-enabled gadgets is increasing.

The sound quality can be greatly enhanced by a wireless-connected speaker. A single app on a mobile device can be used to control them and broadcast sound to numerous rooms simultaneously. These technologies are being used very effectively by a number of well-known businesses, who have integrated them into a variety of their highly profitable products. For instance, in 2020, Ampere launched Shower Power, a speaker that can be easily attached to any showerhead and is powered by the water flowing through it. That implies that no battery is required and that the music will never stop. It is interesting to note that Shower Power is created entirely from recycled ocean plastic, so the user does not have to be concerned about contributing to the plastic pollution problem. 

The growth of m-commerce and e-commerce is anticipated to benefit the loudspeaker industry throughout the forecast period. Owing to variables such as increasing internet usage, an escalating urban population, and the existence of a strong distribution network, the demand for loudspeakers is anticipated to increase throughout the forecast period. The increased use of Wi-Fi-enabled mobile devices like smartphones, laptops, and tablets is expected to increase the need for wireless speakers.

During the forecast period, demand for products with wireless connectivity features like Wi-Fi and Bluetooth is anticipated to increase. Design, power usage, sound quality, and size advancements may provide industry participants with a technological edge. Additionally, in the upcoming years, the widespread usage of Wi-Fi networks, swift technology improvements, and the subsequent development of unique systems will help the loudspeaker market grow.

• Wireless connectivity dominates, enhancing user convenience and versatility.
• Smart speakers integrate AI assistants for voice control and home automation.
• Demand surges for portable, rugged speakers suited for outdoor activities.
• Adoption of advanced DSP technology for precise sound customization and optimization.

The high price of loudspeakers is the main obstacle that could impede the market expansion for loudspeakers. The cost of installing these systems increases since they offer smoother speech, sound, and communication and employ more high-quality components for greater accuracy. Additionally, the signal-to-noise ratio is higher. Apart from this, connectivity is a key concern with modern technology breakthroughs. Wireless communication has emerged as a crucial feature in this new era, impacting everything from phones to other electronics. Although they are a useful tool, wireless audio systems have some disadvantages. The majority of wireless speakers or headsets utilize Bluetooth connectivity, which can only connect one device at a time and has a short range. All these factors are anticipated to impede the market growth over the forecast period. 

Major market competitors are pursuing competitive marketing strategies, such as alliances, technological advances, investments, acquisitions, and R&D activities, in order to increase their market share globally. For instance, in July 2022, in order to commemorate its 50th anniversary, PSB Speakers, a leader in high-fidelity speakers since 1972, released the Passif 50 Anniversary Edition Standmount Loudspeaker. The Passif 50 model's design and technological innovations focus on five decades of extensive research and pay homage to the original Passif II model, which was introduced in 1974.

Furthermore, the new standalone Steinway & Sons Model A loudspeaker was introduced by Steinway Lyngdorf in March 2022. The new Model A is a full-range loudspeaker that delivers the renowned Steinway & Sons audio quality from a loudspeaker created primarily for placement against a wall in a room. Earlier, in September 2021, Bose unveiled the Smart Soundbar 900, a Dolby Atmos® speaker that offers unparalleled immersion for both music and movies. The Soundbar 900 has a single, appealing enclosure that houses all of the technology it needs to connect to a TV with a single wire. It has Wi-Fi and Bluetooth connectivity, Google Assistant and Amazon Alexa for voice control, an easy-to-use app for touch control, and support for Spotify Connect, AirPlay 2, and all other Bose smart speakers for a high-end multi-room music system.

Due to the rising popularity of in-home entertainment and rising disposable income, it is predicted that the North American industry will expand significantly. Over the next seven years, it is expected that the growing number of people who enjoy listening to music, the growth in digital music sales, and the enormous popularity of video and audio entertainment will have a positive impact on the regional market. Moreover, the United States and Canada are anticipated to hold a significant share in the loudspeaker market owing to high levels of technological adoption.

Additionally, this region is graced with the presence of prominent market participants including Bose Corporation and Avalon Acoustics, among others. Furthermore, the Asia-Pacific region is also anticipated to experience significant growth in the loudspeaker market. This growth can be attributed to the rising disposable income and the rising demand from developing countries like India and China. These factors are anticipated to create new growth opportunities for the market in the Asia Pacific region. 

The report provides a detailed overview of the loudspeaker market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the loudspeaker market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the loudspeaker market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which are anticipated to have a substantial impact on the growth of the loudspeaker market. Some key countries and regions included in the loudspeaker market report are as follows:

Loudspeaker market detailed segments and segment-wise market breakdown
Loudspeaker market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in the loudspeaker industry)
Current, historical, and forthcoming 10 years market valuation in terms of loudspeaker market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
Loudspeaker market demand analysis
Loudspeaker market pricing analysis over the forecast period (by key segment and by region)
Loudspeaker market regional insights with region-wise market breakdown
Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
Latest developments and innovations in the loudspeaker market
Regulatory landscape by key regions and key countries
Supply chain and value chain analysis in the loudspeaker market
Loudspeaker market sales and distribution strategies
A comprehensive overview of the parent market
A detailed viewpoint on the loudspeaker market forecast by countries
Mergers and acquisitions in the loudspeaker market
Essential information to enhance market position
Robust research methodology