Outdoor Speaker Market 2021 Insights and Precise Outlook -Yamaha, Bose, Boston Acoustics, Atlas Sound, Definitive Technology

The Outdoor Speaker market is expected to reach a CAGR of 11.33% over the forecast period (2021 - 2027). 

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Market Overview-

Increasing the use of loudspeakers for aural communication is driving the market as aural communication systems such as conferences, seminars, and attending to large audiences, have increased the use of loudspeakers to a huge extend. The compact size of in-wall loudspeakers is driving the market. These speakers are economical, have a level-headed sound range, and gradually replace the tower and individual speakers. They are also generally used in cafes and restaurants as they occupy less space.
The increasing use of loudspeakers for communication purposes and the increasing use of multimedia equipment and digital modes of presentation in the corporate environment (ranging from investor presentations to gamification of employee metrics) stands to be one of the significant factors expected to boost the market growth for loudspeakers in the future.

Key Highlights-

A soundbar is a slim, oblong-shaped device that contains several individual speakers placed side by side. It can be mounted on the wall beneath the TV or placed flat on the TV stand in front of the TV. One of the primary drivers for the demand for soundbars is the development of TVs to become thinner and thinner. This reduces the space in the bezels to hide speakers, making the built-in speakers be weaker and less impressive sounding. Some modern TVs don't even come with built-in speakers anymore, and the customer expects a soundbar purchase.

Another one of the major factors driving the market is the integration of voice assistance technology in the soundbar. For instance, in May 2020, Sonos Launched Dolby Atmos and Voice Assistant-Equipped Arc Soundbar. The Sonos Arc provided 5.0-channel or Dolby Atmos surround sound on its own with the help of eight woofers and three angled tweeters. Moreover, increasing the number of smart homes equipped with connected devices is boosting the market for home theatre, which also drives the sales of soundbars across the market.

 

Key Players-

Yamaha, Bose, Boston Acoustics, Atlas Sound, Definitive Technology, Electro-Voice, JBL, Klipsch, Niles, Polk Audio, Pyle, RCF, Theater Solutions, AR Speakers and Others.

Market Segmentation-

By Type-

Wireless

Wired

By Application-

Household

Commercial

Regional Analysis-

North America to Account for Significant Market Growth
The North American market is a huge market for loudspeakers and is expected to grow in the coming future. According to the Consumer Technology Association, the market size of the Home Theater system in the USA in 2020 is expected to be USD 87 million, while that of wireless speakers is expected to be USD 5,975 million. Another speaker category, such as compact speakers and speaker components, is also expected to grow significantly.
The smart speaker and stereo speaker systems will also grow multifold and are expected to reach a multi-million-dollar business by 2024. Smart speakers have emerged as the fastest-growing product in the smart home technology arena in recent years. Established businesses like Amazon.com, Apple, and Google are investing in smart speaker wireless technology or entirely in the development of smart speaker wireless multi-room audio streaming systems.

 Major TOC Of the Outdoor Speaker Market-

Chapter 1- Outdoor Speaker Market Overview

Chapter 2- Global Economic Impact on Industry

Chapter 3- Global Outdoor Speaker Market Competition by Manufacturers

Chapter 4-Global Production, Revenue (Value) by Region

Chapter 5 -Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6- Global Production, Revenue (Value), Price Trend by Type

Chapter 7 -Global Outdoor Speaker Market Analysis by Application

Chapter 8- Manufacturing Cost Analysis

Chapter 9 -Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10- Marketing Strategy Analysis, Distributors/Traders

Chapter 11- Outdoor Speaker Market Effect Factors Analysis

Chapter 12- Global Outdoor Speaker Market Forecast

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Reasons to Buy this Report-

This report provides pin-point analysis for changing competitive dynamics.
It provides a forward looking perspective on different factors driving or restraining market growth.
It provides a six-year forecast assessed on the basis of how the Outdoor Speaker market is predicted to grow.
It helps in understanding the key product segments and their future.
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors.
It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments.
It provides distinctive graphics and exemplified SWOT analysis of major market segments.

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