Global Loudspeakers And Sound Bars Market Growth Analysis 2024, Forecast To 2033
16 Jan, 2024
The loudspeakers and sound bars market has shown steady growth, increasing from $16.04 billion in 2023 to $16.67 billion in 2024, with a 3.9% CAGR. Historic growth is attributed to the entertainment industry, home audio systems, automotive audio, consumer electronics, wireless, and Bluetooth technology. The market is expected to experience continued steady growth, reaching $18.98 billion in 2028, with a 3.3% CAGR. Factors influencing growth in the forecast period include smart home ecosystems, high-resolution audio, gaming and esports, 5G technology, and home office and remote work. Major trends include voice control and AI integration, soundbars with immersive audio, wireless multi-room audio, compact and portable speakers, and sustainability and eco-friendly materials.
Global Loudspeakers And Sound Bars Market Key Driver
Consumer spending on entertainment products globally is fueling the growth of the loudspeakers market. With a preference for external sound systems enhancing home entertainment experiences, consumers are willing to invest more in quality sound systems. The Digital Entertainment Group reported a significant rise in consumer expenditure on home entertainment in 2021, reaching a record $32.3 billion. The growth potential in smart devices with embedded voice assistants and loudspeakers further intensifies demand, driving the loudspeakers market.
Get A Free Sample Of The Global Loudspeakers And Sound Bars Market ReportGlobal Loudspeakers And Sound Bars Market Segments
The loudspeakers and sound bars market covered in this report is segmented –
1) By Type Of Enclosure: Single Mounted, Multiple Mounted, Not Mounted
2) By Applications: Communication, Automotive, Film and Television, Club/Bar
3) By End User: Household, Commercial, Others End User
By Geography: The regions covered in the loudspeakers and sound bars market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the loudspeakers and sound bars market in 2023. North America is the second-largest region in the loudspeakers and sound bars market. The regions covered in the loudspeakers and sound bars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Loudspeakers And Sound Bars Industry Players
Bose Corporation, Harman International Industries Incorporated, Bowers & Wilkins (B&W), Klipsch Audio Technologies, Kent Engineering and Foundry (KEF), Sonance, Yamaha Corporation, Sony Corporation, Creative Technology Ltd., Wharfedale, Cerwin-Vega Inc., Behringer, Peavey Electronics, Jamo, Dynaudio A/S, Sound United LLC, LG Electronics Inc. (Lucky Goldstar Electronics Inc.), Logitech International S.A., Panasonic Corporation, Audiovox Corporation, Boston Acoustics Inc., Bang & Olufsen A/S, James Bullough Lansing Professional, Definitive Technology, Sennheiser Electronic GmbH & Co. KG, Samsung Electronics Co. Ltd., Vizio Inc., Sonos Inc., Polk Audio, Philips Electronics N.V., Sharp Corporation, Pioneer Corporation, Onkyo Corporation, Denon Electronics (USA) LLC, Marantz America LLC, MartinLogan, GoldenEar Technology, SVS LLC, Focal-JMlab, ELAC Electroacustic GmbH, DALI A/S, Canton Elektronik GmbH, Q Acoustics, Monitor Audio Ltd.
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Loudspeakers And Sound Bars Market Overview
A loudspeaker is an electroacoustic transducer that converts an electrical audio signal into a corresponding sound. Loudspeakers are used in radios, audio players, and bluetooth speakers.
Loudspeakers And Sound Bars Global Market Report 2023 provides data on the global loudspeakers and sound bars market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The loudspeakers and sound bars market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.