Global Pro Speaker Market Outlook, Forecast 2023 & Top Key players profile include Bose, D&B audiotechnik/system, HARMAN International (Samsung), L-Acoustics, LOUD Audio, MUSIC Group (MUSIC Tribe) & Yamaha

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This pro speaker market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product (structure (point source systems, line array systems, subwoofers, and other) and amplification (powered speaker and passive speaker)), by format (digital and analog), by distribution channel (retail and online), by end-user (corporate, large venues & events, educational institutions, government & military, studio & broadcasting, hospitality, and others), and by geography (North America, APAC, Europe, Latin America, and MEA).

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The major vendors in the global pro speaker market are:
1. Bose
2. D&B audiotechnik/system
3. HARMAN International (Samsung)
4. L-Acoustics
5. LOUD Audio
6. MUSIC Group (MUSIC Tribe)
7. Yamaha

Other prominent vendors include Alcons Audio, Bowers & Wilkins, B&C Speakers, Carlson Audio Systems, Dynaudio, Electro-Voice, Hz Sound Systems, inMusic Brands, Klipsch Audio Technologies, K-Array, Meyer Sound Laboratories, Nady Systems, PROEL, Pyle Pro, RCF, Renkus-Heinz, Robert Bosch, and Sennheiser Electronic.

Pro Speaker Market – Overview

The exponential rise in demand for digital equipment and launch of new product models is propelling the growth of the global pro speaker market. The top revenues generating countries in the world market include the US, Japan, the UK, Germany, and France. The development of Asian countries such as India and China will boost the adoption of these devices in the global professional speaker market.

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The increasing spending on music concerts and festivals worldwide will augment the demand for these speakers in the global market. The leading vendors are focusing on offering a diverse range of products to gain a larger market share and attract new consumers. The development of various industries including hospitality, real estate, corporate, education, and music in emerging nations such as China, India, and Brazil will revolutionize the global market. The increasing requirement to efficiently distribute sounds in large venues will result in the growing demand for public address systems worldwide.

The development of the music industries in countries such as the US and Japan will augment the need for professional speakers in the global market. The rising demand from industries such as exhibition, trade shows, sports, music concerts, and film and motion production will have a positive impact on the global market. The pro speaker market is projected to generate revenues of more than $2.2 billion by 2023.

The increasing number of sporting events is expected to contribute to the revenues of the global pro speaker market over the next few years. The estimated value of the global sports market that includes sports infrastructure, events, training, and sporting goods ranges between $650-750 billion.

The increasing investment in sports sponsorship in another factor the will boost the revenues in the professional speaker market. Major sporting events such as FIFA World Cup in Russia in 2018 and Qatar in 2022, and the Olympics in Tokyo in 2020 are expected to fuel the demand for pro speakers in the global market.

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The pro speaker market by product type is segmented into the structure (point source systems, line array systems, subwoofers, and other) and amplification (powered speaker and passive speaker). The point source system segment dominated the market share in 2017 and is expected to grow at a CAGR of more than 2% during the forecast period. Point source systems are cost-effective and offer sound coherence than multi-speaker designs, which in turn, will propel the growth of this product segment in the global market. These are budget speakers suitable for small venues, the house of worship, small live events, retail outlets, and corporate setups. Such benefits of using these compact speakers will propel the growth of the point source systems in the global market.

The end-user segment in the pro speaker market consists of corporate, large venues & events, educational institutions, government & military, studio & broadcasting, hospitality, and others. The corporate sector dominated the market share in 2017 and is projected to grow at a CAGR of about 3% during the forecast period. The expansion to new offices and growing penetration of IoT in corporate offices worldwide will boost the demand for professional speakers in the global market.

The incorporation of corporate e-learning programs that are specifically designed for skill development and training of the employees will drive the growth of the global market. The integration of IT technology and innovative sound reinforcement equipment will create lucrative opportunities for leading players in the market.

The key countries profiled in the report are: US, Canada, Japan, Australia, China, South Korea, Germany, UK, France & Brazil

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Key market insights include:
1. The analysis of pro speaker market provides market size and growth rate for the forecast period 2018-2023.
2. It offers comprehensive insights on current industry trends, trend forecast, and growth drivers about the pro speaker market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of pro speaker market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

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