Loudspeakers And Sound Bars Market Recent Developments, Emerging Trends and Business Outlook with forecast to 2025 - Bose Corporation, Harman International Industries, Bowers &Wilkins

The “Loudspeakers And Sound Bars Market” report is an in-depth study of the market, along with an analysis of its key segments. The relationship is built through extensive primary and secondary research. In-depth market data is generated through interviews and data collection from industry experts and professionals. The study is a detailed document on key aspects of the markets including trends, segmentation, growth prospects, opportunities, challenges, and competitive analysis.

The report is updated with the impact of the currently ongoing COVID-19 pandemic. The pandemic has dynamically affected key market segments and changed the growth pattern and demands in the Loudspeakers And Sound Bars market. The report covers an in-depth analysis of these changes and provides an accurate estimate of the market growth forecast after the impact of the pandemic.

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The study includes market share analysis and profiles of players such as Bose Corporation, Harman International Industries, Bowers &Wilkins, Klipsch Audio Technologies, KEF, Sonance, Yamaha Corporation, Sony Corporation, Creative Technology Ltd., and Wharfedale.

The global loudspeakers and sound bars market is expected to grow from $11.34 in billion 2020 to $13.35 billion in 2021 at a compound annual growth rate (CAGR) of 17.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $14.32 billion in 2025 at a CAGR of 2%.

Executive Summary:

Regulations by government have always been challenging to the loudspeakers market as loudspeakers usage is one of the main reasons for noise pollution. Noise pollution deteriorates both physiological and psychological health which may lead to health complications such as hypertension, anxiety, increased stress level and can even lead to coronary artery disease. In India, the Supreme Court passed a regulation which restricts the use of public address systems at night (between 10:00pm and 6:00am) and during cultural or festive occasions to not more than 15 days a year. These regulations are expected to negatively impact the growth of the loudspeakers market.

In September 2019, the US based company, Sonance announced that it has entered into an agreement with James Loudspeaker to acquire James for an undisclosed amount. The aim of the deal is to combine engineering technology to reinforce their goal of providing superior acoustic performance in products by delivering innovative approaches. James Loudspeaker is a US based company and an innovator in both high performance residential and commercial audio solutions. It produces products for exclusive homes, forward-thinking businesses, and upscale marine applications.

Increased spending on entertainment products by consumers globally contributed to the growth of loudspeakers market in the forecast period. Consumers are preferring external sound systems as a medium of home entertainment and there is an increasing consciousness about the quality of sound they are experiencing as a result of which they are willing to spend more on sound systems. According to a survey by Dolby Laboratories, the USA consumers expenditure on home entertainment increased by 72% in 2020. This spend is led by Gen Z and millennial. GFK recorded a 7.9 billion sales in 2019 for global audio devices market excluding North America. There is plenty of growth potential in smart devices with embedded voice assistants and loudspeakers which enhances the entertainment at home. Increased consumer expenditure on entertainment and consciousness of quality of sound experienced increases the demand for different forms of loudspeakers which is driving the loudspeakers market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the Loudspeakers And Sound Bars market.

The study objectives of this report are:

To study and analyze the global Loudspeakers And Sound Bars size (value and volume) by the company, key regions/countries, products and application, history data from 2020 to 2024, and forecast to 2025.
To understand the structure of Loudspeakers And Sound Bars by identifying its various sub-segments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key global Loudspeakers And Sound Bars manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
To analyze the Loudspeakers And Sound Bars with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Loudspeakers And Sound Bars submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

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