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Loudspeakers - Global Market Trajectory & Analytics

  • ID: 338505
  • Report
  • September 2020
  • Region: Global
  • 520 Pages
  • Global Industry Analysts, Inc
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The global market for Loudspeakers is forecast to reach 51.2 billion units by 2024, driven by the rapid rise of streaming video-on-demand and parallel increase in at-home movie watching; growing number of cloud music streaming subscriptions and the resulting need for whole house music and multi-room audio systems. The market stands to benefit from the rise of at-home entertainment and the migration to digital forms of entertainment and service delivery platforms. Launch of bandwidth intensive 4G technology, massive improvements in audio and video streaming and development of affordable internet connected TVs are primary factors driving the home entertainment trend. Against the backdrop of the current golden age of digital entertainment, there is a radical increase in the number of hours spent by people watching movies, listening to music and playing video games at home.

With all current generation movies and videos featuring immersive HD image resolution and 7.1 surround sound, there is a strong need for high fidelity audio. Asia-Pacific ranks as the fastest growing market led by digitalizing lifestyles of the middle class population and a parallel increase in appetite for digital consumer technologies; increased consumer preference for affordable assembled speakers to supplement audio performance of flat panel TVs; developing internet and telecom industry and the resulting leapfrogging of Southeast Asian countries to digital forms of entertainment that provide opportunities for loudspeakers ranging from docking speakers, sound bars to whole house audio and multi-room sound solutions.

Competitors identified in this market include, among others:
  • 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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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Loudspeakers: An Introduction
  • Market Outlook
  • Regional Market Analysis
  • Digital Boom and Growth in Music Streaming Drives Demand for Wireless Speakers
  • 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
  • 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
  • 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
  • Global Internet User Penetration Rate (in %) for the Years 2014, 2016, 2018, 2020, 2022 and 2024
  • 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
  • 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
  • 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
  • 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
  • World Urban Population in Millions: 1950-2050
  • 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
  • Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
  • 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

GEOGRAPHIC 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
  • Market Analytics
CANADA

JAPAN

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

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA
  • India Witnesses Strong Demand Wireless Speakers
  • Market Analytics
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: 279
Note: Product cover images may vary from those shown
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