Global Market for Loudspeakers is Projected to Reach US$6.9 Billion by 2020

Popularity of Cost & Space Efficient Soundbars Drives the Global Loudspeakers Market, According to New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, market size and demand forecasts on the global Loudspeakers market. Global market for Loudspeakers is projected to reach US$6.9 billion by 2020, driven by growing preference for cost and space efficient soundbars as alternatives to traditional expensive surround sound packages.

Loudspeakers are crucial components of any audio system. They are of special importance in audio entertainment since the quality of sound reproduced solely depends on the technological sophistication of the speaker system. Defined as an electroacoustic transducer designed to decode encrypted audio signals by converting electrical impulses into sound, loudspeakers are expected to witness growth in sync with consumer spending patterns on entertainment systems. Demand opportunities in the market closely follows consumer sentiments and confidence, disposable personal income levels, household debt levels, and personal spending patterns especially on durable goods including entertainment products.

While future growth in the market is forecast to stem largely from developing countries, growth in Europe and the United States is expected to remain challenged by structural changes in consumer wealth and spending. Flat consumer consumption, spending and income, as a result of greater than expected sluggishness in the labor market and lack of meaningful growth in wages and income, are choking off growth in most product markets. Also, increase in the number of retiring baby boomers aged over 65 years is expected to exert downward pressure on consumption and spending in developed markets. This is largely because, baby boomers who were earlier considered as lucrative consumer clusters are now witnessing a decline in their spending power due to economic factors which are affecting the state of social security including the deficit ridden government’s ability to subsidize the active lifestyles of its aging citizens. The recession threw most of the current generation of baby boomers in North America ill prepared for the approaching old age, with a large percentage of this population not possessing the safety net of healthcare coverage, pensions and other benefits.

Despite the challenges expected in developed markets, the era of “At Home Entertainment” is directly benefiting demand for acoustics equipment designed to enhance audio from TV shows, digital movies or games. Cocooning, a major demographic and social trend highlighting the “stay-at-home behavior” is now gradually giving way to “Hiving”, an evolving trend where consumers make their homes a focal point. Hiving involves increased at-home entertainment and bonding with family, friends and neighbors. Supported by technology developments in communication, a gradual reconceptualization of home as a place of connectivity is expected to benefit growth in the market.

As stated by the new market research report on Loudspeakers, Europe represents the largest market worldwide in terms of volume and dollar sales. Asia-Pacific ranks as the fastest growing market with volume sales projected to grow at a CAGR of 5.8% over the analysis period. Growth in the region is driven by consumerism, expanding base of affluence middle class population, and the ensuing increased discretionary spending on entertainment, and shifting preferences towards high-tech merchandise.

Key players covered in the report include Altec Lansing LLC, Amaoto Industrial Co. Ltd., B&W Group Ltd., Bose Corporation, Boston Acoustics Inc., Creative Technology Ltd., Cambridge SoundWorks, DEI Holdings Inc., First Audio Manufacturing (H.K.) Ltd., Focal JM-Lab, Focus Audio Inc., German Physiks, Harbeth Audio Ltd., Harman International Industries Inc., Jean-Marie Reynaud, Maxxsonics USA Inc., Nortek Inc.,  Niles Audio Corporation, SpeakerCraft Inc., Opera Loudspeakers, Pioneer Corporation, QLN AB, Sammi Sound Tech Co Ltd., Sonance Inc., Velodyne Acoustics Inc., VOXX International Corporation, Klipsch Group Inc., and Yamaha Corporation, among others

The research report titled “Loudspeakers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, challenges, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections in US dollars and Units for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East and Latin America (Brazil and Rest of Latin America). Product markets analyzed include Pair Speakers, Satellite/Subwoofer Speakers, Subwoofer Speakers, Soundbars, In-Wall Speakers, Outdoor Speakers and Others.