The loudspeakers and sound bars market consists of sales of loudspeakers and sound bars by entities (organizations, sole traders and partnerships) that manufacture loudspeakers and sound bars. A loudspeaker is an electroacoustic transducer which converts an electrical audio signal into a corresponding sound. Loudspeakers are used in radios, audio players, and Bluetooth speakers. Only goods and services traded between entities or sold to end consumers are included.
Global Loudspeakers And Sound Bars Market Size And Drivers:
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 loudspeakers and sound bars market is expected to reach $14.32 billion in 2025 at a CAGR of 2%. Increased spending on entertainment products by consumers globally contributed to the growth of loudspeakers market in the forecast period.
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Trends In The Global Loudspeakers And Sound Bars 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.
Global Loudspeakers And Sound Bars Market Segments:
The global loudspeaker and sound bar market is further segmented –
By Type Of Enclosure: Single Mounted, Multiple Mounted, Not Mounted
By End User: Household, Commercial, Others
By Applications: Communication, Automotive, Film and Television, Club/Bar
By Geography: The global loudspeakers market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Loudspeakers And Sound Bars Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides loudspeakers and sound bars market overviews, analyzes and forecasts market size and growth for the global loudspeakers and sound bars market, loudspeakers and sound bars market share, loudspeakers and sound bars market players, loudspeakers and sound bars market segments and geographies, loudspeakers and sound bars market’s leading competitors’ revenues, profiles and market shares. The loudspeakers and sound bars market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
