Global Pro Speaker Market to Reach Over $2 Billion During the Forecast Period 2018-2024 - Market Research by Arizton

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Apr 17, 2019, 09:00 ET

CHICAGO, April 17, 2019 /PRNewswire/ -- According to Arizton's recent research report, the global pro speaker market size is expected to reach over $2 billion, growing at a CAGR of approximately 3% during 2018–2024.
The report also offers market share analysis in terms of unit volumes during the forecast period.

Key Highlights Offered in the Report:

While the Europe market will focus on innovative promotional strategies to overcome stagnation, the APAC and US markets are expected to witness high revenue growth.
The corporate sector is a significantly expanding end-user segment, with a monthly sale of around 5.6 thousand units.
The online sale is expected to capture a significant portion of revenues. However, retailers' omni-channel strategies focused on building customer relationship may prove beneficial to counter the onslaught from online retailers.
The demand for pro speakers in the large venues and events segment is growing significantly. The segment is expected to offer immense business opportunities for vendors during 2018–2024. The segment is followed by commercial and colleges and universities segments.
Line array speakers are expected to grow at the highest CAGR of about 3% during the forecast period due to the growing adoption of pro speakers in fixed installations and music concerts.
Prominent vendors are introducing AV solutions that comprise new-age technology such as IoT (Internet of Things), AR (Augmented Reality), and voice recognition features.

Key Offerings:

Market Size & Forecast by Revenue and Units | 2018–2024
Market Dynamics – Leading trends, restraints, and growth drivers
Market Segmentation –A detailed analysis of the market by products, formats, end-users,distribution channels, and geographies.
Competitive Landscape – Profile of 7 key vendors and 25 prominent players

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Global Pro Speaker Market-Segmentation

This market research report includes a detailed market segmentation by product type, formats, end-users, distribution channels, and geographies.

Given their compactness, cost-effectiveness, and high-quality sound output, point source speaker systems are the most popular variant in the market. The segment is expected to grow at a CAGR of approximately 4%.
The demand for sound reinforcement and AV solutions is increasing in the corporate segment. The segment accounted for around 17% share in terms of value and unit shipment of the global pro speaker market.

Market Segmentation by Products

Point Source Speaker Systems
Line Array Speaker Systems
Subwoofers
Other Pro Speaker Systems

Market Segmentation by Formats

Digital
Analog

Market Segmentation by Distribution Channels

Online
Retail

AV System Integrators
Pro AV Dealers & Distributors
Pro AV Electronic Stores

Market Segmentation by End-users

Corporates
Large Venues and Events
Educational Institutes
Government and Military
Studio and Broadcasting
Hospitality
Others

Pro Speaker Market- Dynamics

The pro speaker industry is experiencing a transition from analog to digital production. The convergence of IoT and pro AV (Audio-Visual) industry is projected to give rise to sophisticated cabling solutions in the pro audio market. The demand for pro AV cables such as PoE is set to increase due to their growing use in the AV/IT domain.

Key Drivers and Trends fueling Growth of the Global Market:

Growing convergence of Pro AV and IoT
Emergence of networked audio technology
Increasing demand from corporates, government agencies, and sport event organisers

Pro Speaker Market-Geography

The global pro speaker market by geography is segmented into North America, APAC, Europe, Latin America, and MEA.Several leading vendors are shifting their focus toward APAC as the region offers significant market potential in terms of population and smart devices penetration.

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Market Segmentation by Geography

North America

US
Canada

APAC

China & SAR
Japan
India
Australia
South Korea
Indonesia

Europe

Germany
France
Italy
UK
Spain
Russia
Switzerland
Benelux
Scandinavia

Latin America

Mexico
Brazil
Argentina

UAE
South Africa
Maghreb

Major Vendors in the Global Market

Bose
d&baudiotechnik
HARMAN International (Samsung)
MUSIC Group (MUSIC Tribe)
Loud Audio
L-Acoustics
Yamaha

Other Prominent Vendors are AEB Industriale (dB Technologies), Alcons Audio, Audioprof Group International, Bowers & Wilkins, B&C Speaker, Carlson Audio Systems, CeltoAcoustique, Coda Audio, Dynaudio, Electro‑Voice, Extron Electronics, Hedd | Heinz Electrodynamic Designs, Hz Sound Systems, inmusic Brands, Klipsch Audio Technologies, K-array, Meyer Sound Laboratories, Nady Systems, Outline, Pan Acoustics, Proel, Pyle-Pro, Renkus-Heinz, Robert Bosch, and Sennheiser Electronic.

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About Arizton:

Arizton – Advisory and Intelligence is a premium and innovation-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

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SOURCE Arizton Advisory & Intelligence