$2.24 Bn Sound Reinforcement Market - European Outlook and Forecasts to 2024

DUBLIN, May 30, 2019 /PRNewswire/ -- The "Sound Reinforcement Market in Europe - Industry Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.

The Europe sound reinforcement market is likely to reach around $2.24 billion by 2024, growing at a CAGR of approximately 3% during 2018-2024.

The emergence of networked audio technology, the rise in strategic partnership with artists, the increased demand from corporates, government offices, educational institutes, and the increasing number of sporting events and tourism are helping the Europe sound reinforcement market to grow significantly. Futuristic inventions in wireless digital technology and the growth in complementary digital technologies are likely to boost investors' confidence in the Europe sound reinforcement market. The market is expected to witness an increase in the VC (venture capital) funding during the forecast period.

Also, several vendors are constantly trying to upgrade their existing systems. Many startups are likely to enter the market with innovative solutions and advanced features while existing vendors will continue to enhance their product portfolio through upgrades. Hence, the introduction of upgrades is expected to drive market growth during the forecast period.

The Europe sound reinforcement market is witnessing enhancements due to the increased demand for audio and video equipment, especially from corporates, government offices, and institutional workplaces. With the intensifying competition, the corporate sector and institutional workplaces are increasingly adopting equipment such as microphones and speakers to ease and smooth workflow processes and activities. Further, the development of innovative tools and technologies to promote e-learning in classrooms is expected to fuel the growth of the Europe sound reinforcement market in coming years.

Europe Sound Reinforcement Market: Segmentation

The market research report includes detailed market segmentation by products, distribution channels, formats, and end-user. The Europe sound reinforcement market by product can be segmented into microphones, pro speakers, audio/sound mixers, audio signal processors, power amplifiers, others. In 2018, the microphones segment led the market and is expected to grow at a CAGR of around 2.23% during the forecast period.

Vendors are exploring ways to implement IoT (internet of things) and AV (audio-visual) technology in microphones, which will facilitate the user to operate from remote locations as well. Further, the increasing proliferation of IoT in the education sector is paving the way for vendors to explore sales opportunities in university campuses. Hence, digital enhancements in the microphone industry are expected to boost the Europe sound reinforcement market during the forecast period.

Pro speakers are another significant segment, and the Europe sound reinforcement market is witnessing the increased adoption of pro speakers. This can be attributed to the growing music industry, the increasing demand for PA systems, and the need to efficiently distribute sound in large venues such as worship places or stadiums. Further, vendors are investing for R&D to introduce wireless pro-speakers in the Europe sound reinforcement market. Sound mixers, audio signal processors, and audio power amplifiers segments are gaining momentum due to the growth in the music industry.

The Europe sound reinforcement market by format can be segmented into digital and analog segments. The digital segment captured more than half of the market in 2018. The analog segment, on the other hand, is expected to grow at a CAGR of about 1% during the forecast period. The digital segment is expected to witness increased market growth in the coming year due to the rise in internet users and the growth in the number of connected devices.

The Europe sound reinforcement market by distribution can be segmented into online and retail segments. In 2018, the retail segment contributed to the highest market revenue. Several traditional pro AV equipment vendors have modified their product line to increase the visibility of multiple sound reinforcement systems in retail stores. HARMAN, Yamaha, Sennheiser, Shure, Audio-Technica, Sony, Bose, and MUSIC Group have established retail stores across Europe.

 Further, the trend of selling sound reinforcement products through online and OEM stores is increasing. The Europe sound reinforcement market by end-user can be segmented into large venues and events, corporates, educational institutes, government and military, and others. The corporate sector is expected to remain the largest end-user segment in the sound reinforcement market and captured one-third of the market in 2018. The geographic expansion of companies, the growing number of offices, and the integration of IoT in business workflow processes are the major factors contributed to the segment growth. Restaurants, hotels, nightclubs, casinos, and cruise ships are other sectors that are increasingly incorporating modern-day pro AV systems to enhance the consumer experience.

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market At A Glance

7 Introduction
7.1 Overview
7.1.1 Pro AV Solutions
7.1.2 Sound Reinforcement

8 Market Dynamics
8.1 Market Opportunities & Trends
8.1.1 Growing Convergence of Pro AV and IoT
8.1.2 Emergence of Networked Audio Technology
8.1.3 Strategic Partnerships with Artists
8.1.4 Growing Adoption in Educational Institutions
8.2 Market Growth Restraints
8.2.1 Acoustical Challenges Related to Pro Speakers
8.2.2 Technical Difficulties Hampering Adoption of Wireless Microphones
8.2.3 Volatility in Raw Material Prices Affecting Vendor Margins
8.3 Market Growth Enabler
8.3.1 Increased Demand from Corporate, Government, and Institutions
8.3.2 Growing Live Performance and Music Industry
8.3.3 Increasing Number of Sporting Events and Tournaments
8.3.4 Growing Music Production and Recording Industry

9 Value Chain Analysis
9.1 Overview
9.2 Value Chain Analysis
9.2.1 Technology Suppliers
9.2.2 OEMs
9.2.3 AV Consultants or Integrators
9.2.4 System Dealers and Distributors
9.2.5 System End-users

10 Market Landscape
10.1 Historic Data 20152017
10.2 Market Size & Forecast
10.3 Five Forces Analysis

11 By Product
11.1 Market Snapshot & Growth Engine
11.2 Market Overview

12 Pro Microphone Market
12.1 Market Snapshot & Growth Engine
12.2 Market Size & Forecast
12.3 Market by product type - Wired & Wireless
12.4 Wireless Microphone Market by Sub-product
12.4.1 Handheld Microphones - Market Size & Forecast
12.4.2 Clip-on Microphones - Market Size & Forecast
12.4.3 Other Microphones - Market Size & Forecast

13 Pro Speaker Market
13.1 Market snapshot & Growth Engine
13.2 Market Size & Forecast
13.3 Market by product type
13.3.1 Point Source Speaker Systems - Market Size & Forecast
13.3.2 Line Array Speaker Systems - Market Size & Forecast
13.3.3 Subwoofers - Market Size & Forecast
13.3.4 Other Pro Speaker Systems - Market Size & Forecast
13.4 Market by Amplification method
13.4.1 Market Size & Forecast - Passive Systems and Powered Systems

14 Audio/Sound Mixer Market
14.1 Market snapshot & Growth Engine
14.2 Market Size & Forecast
14.3 Market by Product Type
14.3.1 Market Size & Forecast - Powered & Passive

15 Audio Signal Processor Market
15.1 Market Snapshot & Growth Engine
15.2 Market Size & Forecast
15.3 Market by Product Type
15.3.1 Market Size & Forecast - Digital & Analog

16 Audio Power Amplifier Market
16.1 Market Snapshot & Growth Engine
16.2 Market Size & Forecast
16.3 Market Product Type
16.3.1 Market Size & Forecast - Digital & Analog

17 Other Sound Reinforcement Solutions
17.1 Market Snapshot & Growth Engine
17.2 Market Size & Forecast
17.3 Market by Product Type
17.3.1 Market Size & Forecast - Cables, Audio Networking Solutions, & Others

18 By End-Users
18.1 Market Snapshot & Growth Engine
18.2 Market Overviews
18.3 Corporates
18.4 Large Venues & Events
18.5 Educational Institutions
18.6 Government & Military
18.7 Studio & Broadcasting
18.8 Hospitality
18.9 Other Sectors

19 By Format
19.1 Market snapshot & Growth Engine
19.2 Market Overview
19.3 Market Size & Forecast
19.3.1 Digital & Analog Systems (Revenue & Unit Shipment)

20 By Distribution Channels
20.1 Market Overview
20.2 Manufacturing, Production, & Distribution
20.3 Distribution through retail stores
20.4 Distribution through Online Websites

21 Key Countries

Competitive Landscape

Prominent Vendors

• Audio-Technica
• Business Overview
• Product Offerings
• Key Strengths
• Key Strategies
• Key Opportunities
• Bose
• HARMAN International
• MUSIC Group (Music Tribe)
• Sennheiser Electronic
• Shure
• Sony
• Yamaha

Other Prominent Vendors

• ADK Microphones
• Business Overview
• AEB Industriale (DB TECHNOLOGIES)
• Alcons Audio
• Amadeus
• Ansr Audio
• Apex Audio
• Audioprof
• Audio Engineering Associates
• Audix microphones
• Beijing 797 Audio
• Belden
• Beyerdynamic
• Blue Microphones
• Bowers & Wilkins (B&W)
• BOYA
• CAD Audio
• Carlson Audio Systems
• CeltoAcoustique
• Coda Audio
• CORDIAL
• Dynaudio
• d&baudiotechnik/system
• Electro-Voice (EV)
• Extron Electronics
• GTD Audio
• HEDD - Heinz Electrodynamic Designs
• Hz Sound Systems
• inMusic
• Klipsch Audio Technologies
• K-Array
• Lectrosonics
• Legrand
• Lewitt
• Liberty AV
• LOUD Audio
• MIPRO Electronics
• MXL by Marshall Electronics
• Nady Systems
• OUTLINE
• Pan Acoustics
• Powersoft Audio
• PROEL
• Pyle Pro
• Samson Technologies
• sE Electronics
• Southwire Company
• Stewart Audio
• Vivolink
• Zaxcom
  

For more information about this report visit https://www.researchandmarkets.com/r/lp2xta

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