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Loudspeakers - Global Market Trajectory & Analytics

  • ID: 338505
  • Report
  • May 2021
  • Region: Global
  • 520 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Altec Lansing, LLC
  • Bose Corporation
  • Creative Technology Ltd.
  • Focus Audio, Inc.
  • Jean-Marie Reynaud
  • Polk Audio
  • MORE

Global Loudspeakers Market to Reach $8.8 Billion by 2026


Market prospects for loudspeakers closely follow consumer sentiments and confidence, disposable personal income levels, household debt levels, personal spending patterns especially on durable goods including entertainment products and penetration home audio equipment such as DVD/Blu-Ray players, MP3 players, Home Theater Systems, and PC media centers. Future growth in the market is poised to benefit from the growing use of mobile phones for playing digital music and the ensuing rise in popularity of portable, smartphone and tablet speakers, and docking speakers with wireless/Bluetooth capabilities. Portable speakers and soundbars will magnetize growth, given their primary advantage of high quality sound in a small form factor. Continuous investments in product R&D efforts by manufacturers will also help sustain growth by acting as a catalyst for value added innovation in feature and performance improvement.

Amid the COVID-19 crisis, the global market for Loudspeakers estimated at US$6.2 Billion in the year 2020, is projected to reach a revised size of US$8.8 Billion by 2026, growing at a CAGR of 5.9% over the analysis period. Soundbars, one of the segments analyzed in the report, is projected to grow at a 6.9% CAGR to reach US$3.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Satellite/Subwoofer Speakers segment is readjusted to a revised 5.6% CAGR for the next 7-year period. This segment currently accounts for a 30.8% share of the global Loudspeakers market.

The U.S. Market is Estimated at $1.7 Billion in 2021, While China is Forecast to Reach $1.8 Billion by 2026


The Loudspeakers market in the U.S. is estimated at US$1.7 Billion in the year 2021. The country currently accounts for a 27% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.8 Billion in the year 2026 trailing a CAGR of 9.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 5.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR while Rest of European market (as defined in the study) will reach US$2 Billion by the end of the analysis period. With the rise of digital music, streaming has outpaced CD to become the dominant format. While physical music sales steadily declined between with the advent of MP3 and file sharing, on the other hand, digital music sales witnessed exponential growth. The digital format facilitates the creation of new business models such as the widespread adoption of music streaming services.

The need to wirelessly beam streamed music into every room in a home is driving demand for wireless speakers. Wireless speakers are the fallout of the massive rise of digital music and the resulting collection of music on hand-held devices which brought portability into the spotlight as a vital need. Portable speakers, smart speakers, and soundbars are poised to benefit from the growing use of mobile phones for playing digital music. The ensuing rise in popularity of portable, smartphone and tablet speakers, and docking speakers with wireless/Bluetooth capabilities is also expected to boost further growth prospects.

Subwoofer Speakers Segment to Reach $1.2 Billion by 2026


In the global Subwoofer Speakers segment, USA, Canada, Japan, China and Europe will drive the 5.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$654.8 Million in the year 2020 will reach a projected size of US$957.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$169.4 Million by the year 2026, while Latin America will expand at a 7.3% CAGR through the analysis period.

Select Competitors (Total 306 Featured) -

  • Altec Lansing, LLC
  • Amaoto Industrial Co., Ltd.
  • B&W Group Ltd.
  • Bang & Olufsen
  • Bose Corporation
  • Boston Acoustics, Inc.
  • Cambridge SoundWorks
  • Creative Technology Ltd.
  • DEI Holdings Inc.
  • DEI Holdings Inc.
  • Focus Audio, Inc.
  • German Physiks
  • Harbeth Audio Ltd.
  • Harman International Industries, Inc.
  • Jean-Marie Reynaud
  • Klipsch Group, Inc.
  • Nortek Inc.
  • Polk Audio
  • QLN AB
  • Sammi Sound Tech Co Ltd.
  • Sonance, Inc.
  • Sonos. Inc.
  • SpeakerCraft, Inc.
  • Velodyne Acoustics, Inc.
  • VOXX International Corporation
  • Yamaha Corporation
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Altec Lansing, LLC
  • Bose Corporation
  • Creative Technology Ltd.
  • Focus Audio, Inc.
  • Jean-Marie Reynaud
  • Polk Audio
  • MORE
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Loudspeakers: An Introduction
  • Market Outlook
  • Regional Market Analysis
  • Digital Boom and Growth in Music Streaming Drives Demand for Wireless Speakers
  • Exhibit 1: Increasing Consumer Preference for Music Streaming Drives Demand for Multi-Room Wireless Speakers for Streaming Music from Cloud Servers: Global Number of Music Streaming Subscribers (In Million) for the Years 2010, 2015, 2017, 2019, 2021 & 2023
  • Rise in Home Entertainment Spending Drives Opportunities
  • Exhibit 2: Global Number of SVoD Subscribers (In Million): 2015-2024
  • Competition
  • Loudspeakers Competitor Market Share Scenario Worldwide (in %): 2019
  • Soundbars (Product Segment) Global Competitor Market Share Positioning for 2019
  • Recent Market Activity
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • Altec Lansing, LLC (USA)
  • Bowers & Wilkins Group Limited (UK)
  • Bose Corporation (USA)
  • Boston Acoustics, Inc. (USA)
  • Cambridge SoundWorks (USA)
  • Creative Technology, Inc. (USA)
  • Definitive Technology (USA)
  • DEI Holdings, Inc. (USA)
  • Sound United (USA)
  • Polk Audio (USA)
  • Harman International Industries, Inc. (USA)
  • Bang & Olufsen (Denmark)
  • KLH Audio (USA)
  • LG Electronics, Inc. (South Korea)
  • Panasonic Corporation (Japan)
  • Philips North America Corporation (USA)
  • SpeakerCraft (USA)
  • Sonance (USA)
  • Sonos Inc., (USA)
  • Sony Corporation (Japan)
  • VIZIO Inc. (USA)
  • VOXX International Corporation (USA)
  • Klipsch Group, Inc. (USA)
  • Yamaha Corporation (Japan)
3. MARKET TRENDS & DRIVERS
  • Rise in Live Music Concerts and Events Drive Demand for high Quality Loud Speakers
  • Exhibit 3: Global Live Music Concert Sales in US$ Billion: 2015-2025
  • Increasing Use of High-Quality Surround Sound Systems in Movie Theaters
  • Growing Population of Music Listeners & Rise of Mass-Market Audiophiles Augments Business Prospects
  • Wider Availability of High-Speed Internet Amplifies Music Listener Numbers
  • Exhibit 4: Global Internet User Penetration Rate (in %) for the Years 2014, 2016, 2018, 2020, 2022 and 2024
  • Exhibit 5: Worldwide Mobile Data Traffic by Application (2009, 2017 & 2022): Percentage Breakdown of Monthly Data Traffic Volume for Video, Audio and Others
  • Connectivity: A Critical Feature for Modern Speakers
  • Technology Advancements Drive Significant Improvements in Speaker Systems
  • Consistent Advancements in Components Helps Improve Sound Systems
  • Researchers Develop Nanoscale Skin-Attachable Loudspeakers & Microphones for Audio Output
  • AI-enabled Speakers and Use of Digital Assistants in Speaker Systems Continue to Grow in Popularity
  • Development of Micro & Small Speakers and Innovative Designs to Produce High Sound from Tiny Devices
  • Focus on High Quality Music and MQA Technology Drives Demand for Quality Systems
  • Sleek, Unobtrusive, Visually Appealing Designs Gain Traction
  • Omnidirectional Speakers Grow in Prominence
  • Growing Focus on Environmental Stewardship Among Consumers Drives Interest in Eco-Friendly Green Speakers
  • HVT Technology Gains Attention
  • Despite the Advent of Smaller and Lighter Speakers, Bulkier and Larger Speakers Benefit from Better Performance Capabilities
  • Satellite/Subwoofer Speakers: A Key Beneficiary of At-Home Entertainment
  • Growing Popularity of Assembled Speakers Drives Demand for Standalone Subwoofers
  • In-Wall Speakers Gain Consumer Interest
  • Rise in Outdoor Living Trend Augurs Well for Outdoor Speakers
  • Soundbars: A Growing Threat to Traditional Loudspeakers
  • New Soundbars Set to Redefine User Listening Experience
  • Rise in Penetration of Thin, Flat Panel TVs Fuels Demand for Soundbars
  • Exhibit 6: Global Sales of Flat TVs (In Million Units) for the Years 2010, 2015 , 2020 & 2025
  • Increased Preference for Media Consumption on Smartphone Devices Drive Demand for Docking Speakers
  • Exhibit 7: Growing Use of Smartphones for Music Listening to Benefit Demand for Docking Speakers: Use of Smartphones for Music Listening Presented as a % of Total Music Listeners in Select Countries Worldwide for the Year 2019
  • Exhibit 8: Continued Strong Growth in Smartphone Sales Expands the Addressable Market Opportunity for Docking Speakers: Global Sales of Smartphones (In Million Units) by Region for the Years 2019, 2020, and 2021
  • Favorable Demographic & Socio-Economic Trends Strengthen Market Prospects
  • Rapid Growth in Urban Households
  • Exhibit 9: World Urban Population in Millions: 1950-2050
  • Exhibit 10: Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 2000, 2020 & 2050
  • Growing Affluence of Middle Class Consumer Segment
  • Exhibit 11: Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
  • Exhibit 12: Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
  • Rising Living Standards
  • Advent of E-commerce Boosts Sales of Loudspeakers
  • Penetration of e-Commerce in the US: e-Commerce Sales as % of Total Retail Sales for the Years 2010, 2012, 2014, 2016 and 2018
  • Resolving Prevailing Issues: Critical for Future Success of the Market
  • Counterfeit Products
  • Prevalence of Unorganized Players
  • Declining Margins
  • Established Role of Headphones: Major Market Deterrent
  • PRODUCT OVERVIEW
  • Loudspeaker: A Technical Exposition
  • Loudspeakers: A Technical Preview
  • A Peek Into Technology Lifecycle of Loudspeakers
  • Types of Loudspeakers
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES
  • Market Overview
  • Demand for Soundbars and Wireless Speakers on Rise
  • Competition
  • Distribuition Scenario
  • Loudspeaker Market in the United States (2019): Percentage Market Share Breakdown of Leading Retailing Outlets
CANADA

JAPAN

CHINA
  • Market Overview
  • Slim Designed Micro Speakers Gain Demand
EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA
  • India Witnesses Strong Demand Wireless Speakers
SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 306
Note: Product cover images may vary from those shown
  • Altec Lansing, LLC
  • Amaoto Industrial Co., Ltd.
  • B&W Group Ltd.
  • Bang & Olufsen
  • Bose Corporation
  • Boston Acoustics, Inc.
  • Cambridge SoundWorks
  • Creative Technology Ltd.
  • DEI Holdings Inc.
  • DEI Holdings Inc.
  • Focus Audio, Inc.
  • German Physiks
  • Harbeth Audio Ltd.
  • Harman International Industries, Inc.
  • Jean-Marie Reynaud
  • Klipsch Group, Inc.
  • Nortek Inc.
  • Polk Audio
  • QLN AB
  • Sammi Sound Tech Co Ltd.
  • Sonance, Inc.
  • Sonos. Inc.
  • SpeakerCraft, Inc.
  • Velodyne Acoustics, Inc.
  • VOXX International Corporation
  • Yamaha Corporation
Note: Product cover images may vary from those shown
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