The global audio equipment market was worth $33.37 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of -1.65% and reach $31.23 billion by 2023. North America was the largest region in the audio equipment market in 2019.
Major players in the audio equipment market are Sennheiser, Yamaha, Audio-Tehcnica, Shure, AKG, Blue, Lewitt Audio, Sony, Takstar, and MIPRO.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider audio equipment market, and compares it with other markets.
Regulations by government have always been challenging to the audio equipment market as loudspeakers usage is one of the main reason 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, in 2017, 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 audio equipment market.
The demand for wireless audio equipment market is increasing rapidly due to the increasing popularity of mobile devices and changing media consumption behavior of consumers. Consumers are increasingly using mobile devices, tablets and laptops to wirelessly play audio on speakers. Such consumer behavior is driving the growth of Wi-Fi and Bluetooth connected speakers. To capitalize on the growing popularity of wireless audio equipment, manufacturers such as Samsung, LG, Sony, Bose, Denon, DTS and Qualcomm are also launching wireless audio products or platforms. Popular Wi-Fi audio equipment include Sonos Wi-Fi speakers, Bose's SoundTouch system, and Amazon's Echo speakers.
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.
Key Topics Covered
1. Executive Summary
2. Audio Equipment Market Characteristics
3. Audio Equipment Market Size and Growth
3.1. Global Audio Equipment Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Audio Equipment Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market
4. Audio Equipment Market Segmentation
4.1. Global Audio Equipment Market, Segmentation by Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Audio Equipment Market, Segmentation by End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Audio Equipment Market Regional and Country Analysis
5.1. Global Audio Equipment Market, Split by Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Audio Equipment Market, Split by Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Allen & Heath
- Clock Audio
- Electro Voice
- Lewitt Audio
- Roland Cor
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