IMARC Group has recently released a new research study titled “Loudspeaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the global loudspeaker market demand, drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. The market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.

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A loudspeaker refers to the audible device that is generally used to reproduce music and speech. It is electroacoustic transducer equipment that usually works by changing electrical energy into acoustical signal energy, which, in turn, creates sound. It mainly consists of a diaphragm, dust cap, surround, spider, voice coil, basket, magnet, driver and enclosure that allows the formation of sound waves to radiate into an enclosed space or open air. It is easily available across the globe in various forms that differ on the basis of their technology, sizes and shapes and based on installation locations, applications and audio range. It is extensively utilized in locations where large acoustic power and direction control of sound radiation is required, such as cinema halls, stadiums, rallies and concerts.

Market Trends and Drivers:

The global market is primarily driven by significant growth in the media and entertainment sector, supported by the escalating popularity of live events, such as music concerts and comedy shows, across numerous countries. The rising product utilization for aural communication, including seminars and conferences, along with the growing adoption of digital modes of presentation across corporates and educational institutes, is further market outlook.

Moreover, several leading players are heavily investing in product innovations, such as the introduction of artificial intelligence (AI)-enabled loudspeakers, are supporting the demand for loudspeakers across numerous end use sectors. Besides this, the emergence of wireless and portable loudspeakers for easy handling is gaining widespread prominence across the globe. Furthermore, continuous improvements in the e-commerce sector and the advent of online delivery models are providing lucrative growth opportunities to the key market. Other factors, including the inflating disposable income levels of the masses and extensive research and development (R&D) activities conducted by key players, are also favorably impacting the product uptake.

Competitive Landscape:

The competitive landscape of the loudspeaker market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players 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
  • VOXX International Corp

Key Market Segmentation:

The report has segmented the global loudspeaker market based on product type, application, end user and region.

Breakup by Product Type:

  • 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:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=4674&flag=C

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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