Global Speakers and Soundbars Market Report 2022


The major market players are Bose Corporation, Harman International Industries, Bowers & Wilkins, Klipsch Audio Technologies, KEF, Sonance, Yamaha Corporation, Sony Corporation, Creative Technology Ltd.

New York, March 25, 2022 (GLOBE NEWSWIRE) — announces the release of the “Loudspeakers And Sound Bars Global Market Report 2022” –
and Wharfedale.

The global speaker and soundbar market is expected to grow from $14.62 billion in 2021 to $15.59 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The growth is mainly due to companies reorganizing their operations and recovering from COVID -19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which led to challenges operational. The market is expected to reach $19.27 billion in 2026 with a CAGR of 5.5%.

The speaker and soundbar market includes sales of speakers and soundbars by entities (organizations, sole proprietorships, and partnerships) that manufacture speakers and soundbars. A loudspeaker is an electro-acoustic transducer that converts an electrical audio signal into a corresponding sound.

Speakers are used in radios, audio players, and Bluetooth speakers. Only goods and services exchanged between entities or sold to final consumers are included.

The main types of speaker enclosures and soundbars are single mount, multi mount, and unmounted. A single mount loudspeaker consists of one loudspeaker recorded in an audio file.

Speakers and soundbars are used for communication, automotive, film and television and clubs/bars by domestic, commercial and other end users.

Asia-Pacific is the largest region in the speakers and soundbars market in 2021. North America is the second largest region in the speakers and soundbars market.

Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Rising consumer spending on entertainment products across the globe is contributing to the growth of the loudspeaker market over the forecast period. that they are willing to spend more on sound systems.

According to a Dolby Laboratories survey, US consumer spending on home entertainment grew 72% in 2020. This spending is led by Gen Z and Millennials.

GFK recorded revenue of €7.9 billion in 2019 for the global audio device market outside of North America. There is great growth potential in smart devices with voice assistants and built-in speakers, which enhance home entertainment. Rising consumer spending on entertainment and awareness of perceived sound quality is increasing the demand for different forms of speakers, which is driving the speaker market.

Government regulations have always been a challenge for the loudspeaker market, as the use of loudspeakers is one of the major reasons for noise pollution. lead to coronary heart disease.

In India, the Supreme Court has adopted regulations that limit the use of public address systems at night (between 10:00 p.m. and 6:00 a.m.) and during cultural or festive events to a maximum of 15 days per year. These regulations are expected to have a negative impact on the growth of the loudspeaker market.

The demand for the wireless audio equipment market is growing rapidly due to the growing popularity of mobile devices and changing consumer behavior in media consumption. Consumers are increasingly using mobile devices, tablets and laptops to stream audio wirelessly to speakers.

This consumer behavior is driving the growth of Wi-Fi and Bluetooth connected speakers. To capitalize on the growing popularity of wireless audio equipment, manufacturers such as Samsung, LG, Sony, Bose, Denon, DTS and Qualcomm are also releasing wireless audio products or platforms.

Popular Wi-Fi audio gear includes Sonos Wi-Fi speakers, Bose’s SoundTouch system, and Amazon’s Echo speakers.

In September 2019, US company Sonance announced that it had reached an agreement with James Loudspeaker to acquire James for an undisclosed amount. The goal of the agreement is to combine engineering technology to further their goal of delivering superior acoustic performance in products. by proposing innovative approaches.

James Loudspeaker is a US-based company and innovator in high-performance residential and commercial audio solutions. It manufactures products for exclusive homes, forward-thinking companies and high-end marine applications.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and United States.

Read the full report:

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