Global Loudspeaker Market to be Driven by Increasing Popularity of the Product among Customers to Enhance their Listening Experience in the Forecast Period of 2022–2027
By: Sofia Williams
Tags: Loudspeaker Market, Market Analysis, Market Research Reports, Market

Global Loudspeaker Market to be Driven by Increasing Popularity of the Product among Customers to Enhance their Listening Experience in the Forecast Period of 2022–2027 Sofia Williams Dec 31, 2021·3 min read

The new report by Expert Market Research titled, ‘Global Loudspeaker Market Report and Forecast 2022–2027’, gives an in-depth analysis of the Global loudspeaker market, assessing the market based on its segments like type, and regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Loudspeaker Market

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The key highlights of the report include:

Historical Market Size (2020): USD 6.8 Billion

Forecast CAGR (2022–2027): 4.6%

Market Overview (2017–2027)

The growing popularity of loudspeakers among consumers looking to improve their listening and cinematic experiences at home is driving the global loudspeaker business. Soundbars, for example, increase not only the entire listening experience of users but also the aesthetics of their homes due to their sleek and exquisite design. Various manufacturers are attempting to improve the product’s quality and design, which is projected to boost the market’s growth. Aside from that, the development of smart soundbars with increased acoustic performance, real-time tuning, built-in voice assistants, and rich bass for movies, music, and gaming, among other things, is expected to drive product sales in the forecast period, hence assisting the market.

Industry Definition and Major Segments

A loudspeaker is a device that converts electrical energy into acoustic signals, which are then radiated in a room or open space to reproduce sound. Loudspeakers produce a frequency range of around 20 to 20,000 hertz.

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On the basis of type, the market is segmented into:

Satellite

Subwoofers

In-wall

Outdoor

Soundbar

Multimedia

On the basis of region, the market is segmented into:

North America

Europe

Asia Pacific

Latin America

Middle East and Africa

Market Trends

Growing awareness of a soundbar’s cost-effectiveness is expected to be a major factor driving the market throughout the forecast period. The cost of soundbar speakers is usually lower than that of conventional stereo sound systems. Meanwhile, the subwoofers market is expected to expand significantly over the projection period. Subwoofers’ improved bass response and sound clarity, as well as their increased usage in soundbars for a better music experience during house parties and gaming, are some of the drivers that are expected to boost the segment’s growth.

Key Market Players

The major players in the market are Altec Lansing LLC, Bose Corporation, Sound United, LLC, Dynaudio A/S, Harman International Industries, Inc., Logitech International S.A., Klipsch Group, Inc., Sony Corporation, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.