The audio and video (AV) industry is shifting from analog to digital media. The convergence of the IoT and the pro-AV industry is expected to give rise to sophisticated cabling solutions in the professional speaker market.
The Professional Speaker Market is expected to reach a CAGR of + 3% over the forecast period 2021-2027.
The growing number of sporting events is expected to contribute to the revenue of the global professional speaker market over the next few years. The growing need for efficient sound reinforcement equipment such as professional loudspeakers in sports arenas and stadiums for communication and announcement purposes will be attributed to the growth of the global market. The growing investment in sports sponsorship in another factor will increase the income in the professional speakers market.
With increased competition, the corporate sector and institutions are increasingly adopting AV equipment to facilitate and manage the workflow in the workplace. Nowadays, the introduction of sound equipment and videoconferencing systems in the corporate sector has become a necessity. Therefore, the suppliers introduce a new range of products, which comply with the current requirements and contribute to the growth of professional speakers.
Key market trends
- Along with the rapid penetration of the internet across the world, the digital trend has also been elegantly embraced by the music industry. Revenues from physical music keep dropping and online streaming platforms like Spotify, Apple Music, Youtube Premium, and Tindle have grown over the years.
- This surge in music adoption will lead to an increase in the number of music concerts and at the same time increase the growth rate of music production and recording equipment. This in turn will provide growth opportunities for the professional speaker market.
- Companies in the music industry are establishing many strategic partnerships with advanced music streaming services of music recording players.
- Sound mixers, audio signal processors, and audio power amplifiers are gaining momentum due to the growth of the music industry. With the increase in music production and the growing market for nightclubs and DJ equipment, the demand for audio mixers is expected to increase in the United States and hence the region is seeing increased adoption of professional speakers.
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Some of the major key players are Burmester, McIntosh Laboratory, Inc., MBL AkustikgerÃ¤te GmbH, Goldmund Sound Systems, Wisdom Audio, Wilson Audio Specialties Inc., Moon Audio, KEF, Steinway Lyngdorf, Dynaudio.
By product type
- Point source speaker system
- Line Array Loudspeaker Systems
By amplification method
- Professional passive speaker systems
- Amplified speaker systems
By end user
- Large venues and events
- Educational institutions
- Government & Military
- Studio & Broadcasting
- Other sectors
By distribution channel
- Manufacturing, production and distribution
- Distribution in retail stores
- Distribution via online websites
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- North America
- Asia Pacific
- Middle East and Africa
- Latin America
- In May 2019, Sony Corporation released new high power party speakers with four new models, MHC-V82D, MHC-V72D, MHC-V42D and MHC-V02. The MHC-V82D and MHC-V72D boast a 360 degree surround sound function that is capable of filling large party spaces, providing complete encapsulation of the party experience. Each speaker is designed with rear tweeters, angled speakers, and a spread sound generator.
- In June 2019, Yamaha upgraded the DXR line of active PA speakers for touring and live music applications. The MkII range is available in the same sizes as the original DXR family. It features a new 1.75 inch neodymium compression driver for improved RF response and output. The maximum output ranges from 130 dB SPL for the DXR8 MkII to 134 dB for the new DXR15.
Detailed Table of Contents of Global Professional Speakers Market Research Report –
âProfessional Speaker Market Introduction and Market Overview
âProfessional Loudspeakers Market, By Application
– Industry Chain Analysis of Professional Speakers Market
âProfessional Loudspeakers Market, by Type
– Industry Manufacturing, consumption, export, import by regions
– Industry value ($) by region
– Global Professional Speakers Market Status and SWOT Analysis by Regions
– Large region of the professional loudspeaker market
- i) Sales in the global professional loudspeaker market
- ii) Global Professional Speakers Market Revenue and Market Share
– List of large companies
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