Global Loudspeakers Market to Reach $8.8 Billion by 2026

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Jul 14, 2022, 05:30 ET

DUBLIN, July 14, 2022 /PRNewswire/ -- The "Loudspeakers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Loudspeakers Market to Reach $8.8 Billion by 2026

The global market for Loudspeakers WAS estimated at US$6.2 Billion in the year 2020, and is projected to reach a revised size of US$8.8 Billion by 2026, growing at a CAGR of 5.9% over the analysis period.

Market prospects for loudspeakers closely follow consumer sentiments and confidence, disposable personal income levels, household debt levels, personal spending patterns especially on durable goods including entertainment products and penetration home audio equipment such as DVD/Blu-Ray players, MP3 players, Home Theater Systems, and PC media centers.

Future growth in the market is poised to benefit from the growing use of mobile phones for playing digital music and the ensuing rise in popularity of portable, smartphone and tablet speakers, and docking speakers with wireless/Bluetooth capabilities. Portable speakers and soundbars will magnetize growth, given their primary advantage of high quality sound in a small form factor.

The U.S. Market is Estimated at $1.7 Billion in 2021, While China is Forecast to Reach $1.8 Billion by 2026
The Loudspeakers market in the U.S. is estimated at US$1.7 Billion in the year 2021. The country currently accounts for a 27% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.8 Billion in the year 2026 trailing a CAGR of 9.1% through the analysis period.

The need to wirelessly beam streamed music into every room in a home is driving demand for wireless speakers. Wireless speakers are the fallout of the massive rise of digital music and the resulting collection of music on hand-held devices which brought portability into the spotlight as a vital need.

Portable speakers, smart speakers, and soundbars are poised to benefit from the growing use of mobile phones for playing digital music. The ensuing rise in popularity of portable, smartphone and tablet speakers, and docking speakers with wireless/Bluetooth capabilities is also expected to boost further growth prospects.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Loudspeakers: An Introduction
Market Outlook
Regional Market Analysis
Digital Boom and Growth in Music Streaming Drives Demand for Wireless Speakers
Rise in Home Entertainment Spending Drives Opportunities
Competition

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Rise in Live Music Concerts and Events Drive Demand for high Quality Loud Speakers
Increasing Use of High-Quality Surround Sound Systems in Movie Theaters
Growing Population of Music Listeners & Rise of Mass-Market Audiophiles Augments Business Prospects
Wider Availability of High-Speed Internet Amplifies Music Listener Numbers
Connectivity: A Critical Feature for Modern Speakers
Technology Advancements Drive Significant Improvements in Speaker Systems
Consistent Advancements in Components Helps Improve Sound Systems
Researchers Develop Nanoscale Skin-Attachable Loudspeakers & Microphones for Audio Output
AI-enabled Speakers and Use of Digital Assistants in Speaker Systems Continue to Grow in Popularity
Development of Micro & Small Speakers and Innovative Designs to Produce High Sound from Tiny Devices
Focus on High Quality Music and MQA Technology Drives Demand for Quality Systems
Sleek, Unobtrusive, Visually Appealing Designs Gain Traction
Omnidirectional Speakers Grow in Prominence
Growing Focus on Environmental Stewardship Among Consumers Drives Interest in Eco-Friendly Green Speakers
HVT Technology Gains Attention
Despite the Advent of Smaller and Lighter Speakers, Bulkier and Larger Speakers Benefit from Better Performance Capabilities
Satellite/Subwoofer Speakers: A Key Beneficiary of At-Home Entertainment
Growing Popularity of Assembled Speakers Drives Demand for Standalone Subwoofers
In-Wall Speakers Gain Consumer Interest
Rise in Outdoor Living Trend Augurs Well for Outdoor Speakers
Soundbars: A Growing Threat to Traditional Loudspeakers
New Soundbars Set to Redefine User Listening Experience
Rise in Penetration of Thin, Flat Panel TVs Fuels Demand for Soundbars
Global Sales of Flat TVs (In Million Units) for the Years 2010, 2015 , 2020 & 2025
Increased Preference for Media Consumption on Smartphone Devices Drive Demand for Docking Speakers
Favorable Demographic & Socio-Economic Trends Strengthen Market Prospects
Rapid Growth in Urban Households
Growing Affluence of Middle Class Consumer Segment
Rising Living Standards
Advent of E-commerce Boosts Sales of Loudspeakers
Resolving Prevailing Issues: Critical for Future Success of the Market