The loudspeaker market is expected to reach at a CAGR of 7.5%, over the forecast period (2020 - 2025). Ultrasonic sounds could be covered onto audible sounds for Internet of Things (IoT) communications, where some kinds of data could be encoded onto an inaudible, near-ultrasound layer which is placed on top of normal audible sounds that could rapidly scale Internet of Things (IoT) adoption in loudspeakers. Moreover, most of the focus is on the micro & small speakers and on the rising innovative designs to produce high sound from tiny devices.
- Increasing use of loudspeakers for aural communication is driving the market as aural communication systems such as conferences, seminars, and attending to large audiences, has increased the use of loudspeakers to a huge extend.
- Compact size of in-wall loudspeakers is driving the market. These speakers are economical and have level-headed sound range, and are gradually replacing the tower and individual speakers. They are also generally used in cafes and restaurants as they occupy less space.
- Harmful health consequences on children & other user groups and controlling frequency rules and regulations by the government are the major factors that may hinder the loudspeaker market growth.
Scope of the Report
The loudspeaker is electronic transducers that convert an electrical audio signal into a corresponding sound. The growing popularity and increasing applications of loudspeakers at different places is among the key drivers of the loudspeaker market, as the market is growing as loudspeakers have become a top priority for outdoor entertainers as well as indoor entertainers.
Key Market Trends
Soundbar in Home Entertainment to Contribute for Significant Market Share
- A soundbar is a type of loudspeaker that projects audio from a wide enclosure and are mainly used in the home purpose for entertainment. The market in this segment is increasing due to its unique features of providing various connectivities such as bluetooth, NFC, etc.
- Players such as Bose, Pioneer, Polk, and Yamaha are prominent leaders in the high-performance soundbar segment. Bose brand is one of the most popular brand and pioneer of making world-class sound systems for the people. Its soundbar comes with Bluetooth NFC pairing and also has a Wi-Fi technology that allows user to stream music wirelessly or with the help of a cord.
- 3DX surround sound brings the best immersive sound experience and sound bar is the first to feature with this integration. Recently in June 2019, Yamaha launched two new soundbars, the YAS-209 and YAS-109, and each features native Alexa voice control. In addition to Alexa voice assistant built in, the two new models offer enhanced music playback capabilities, with Wi-Fi connectivity to play tunes through Spotify Connect, Amazon Music or any other Alexa-supported music service.
- United States is the emerging market in loudspeakers and soundbar sale is increasing exponentially. Recently in Sep, 2019, TCL launches an incredible new Dolby Atmos soundbar at IFA (annual public trade show) 2019 and TCL TS9030 will launch in the United States very soon.
North America to Account for Significant Market Growth
- North American loudspeaker market is predicted to continue to dominate the global loudspeaker market due to the large presence of loudspeaker providers as well as high demand for the outdoor deployment loudspeakers in the region.
- Due to growth of customer expenses in the entertainment segment, with high Internet penetration and accessibility of a strong delivery network in United States, the demand for loudspeaker is increasing.
- Moreover, the growing inclination, particularly of youth, towards video and sound games, alongside the rising offers of advanced music, is supplementing the take-up of loudspeakers in these regions.
- Many players present in this region are in mission to innovate new development towards the loudspeaker segment. Recently in Sep 2019, Paradigm’s Canadian-designed-and-engineered Persona 7F loudspeakers, which have beryllium diaphragms, anchored a system that received additional grounding from the Paradigm Persona SUB. The sub’s six 8 inch woofers are powered by a 1700W “Ultra Class D” amplifier that, aided by DSP and other stuff, descends to a formidable 12Hz.
The loudspeaker market is fragmented, as changing consumer demands are pushing companies to innovate in the space to attract more consumers. The competition in this market has intensified over the years, with companies launching a multitude of products to attract consumers. Some of the key players in the market are KEF, Bose Corporation, Sonance, etc. Recent developments in the market are -
- Sep 2019 - Origin Acoustics announced that they will launch expansions to the Landscape Bollard Loudspeaker line-up, debuting at CEDIA 2019. The new Big Bollard features a 10-inch burial subwoofer, which ports out of the loudspeaker’s sleeve, just before the acoustic lens and above the lens is a 6.5-inch two-way loudspeaker.
- Sep 2019 - Harman Luxury Audio announced the company has partnered with Stealth Acoustics to co-develop and launch a new series of high-performance, concealed loudspeakers for residential custom audio applications. The new JBL Conceal Series loudspeakers combine patented Stealth Acoustics invisible loudspeaker innovations with JBL acoustic design to deliver what Harmans says are the “most advanced, highest performance invisible loudspeakers available.”
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