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Growing Popularity of Soundbars & Wireless Speakers Drive the Global Loudspeakers Market, According to New Report by Global Industry Analysts, Inc.

June 14, 2013 |

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Growing Popularity of Soundbars & Wireless Speakers Drive the Global Loudspeakers Market, According to New Report by Global Industry Analysts, Inc.

San Jose, California (PRWEB) June 13, 2013

Follow us on LinkedIn – As a component of music systems, loudspeakers assume significant importance as the quality of the sound reproduced depends on the technological sophistication of the speaker system. Demand for loudspeakers primarily depends on consumer spending on audio entertainment devices. Penetration levels of audio equipment such as DVD/CD Players, Blu-Ray Devices, MP3 players, Home Theater Systems, PCs, LCDs, LEDs, and other multimedia devices therefore dictate market prospects for speakers.

The market is poised to benefit from the growing consumer preference for in-home entertainment systems. Indicating change in consumer lifestyle and choice of entertainment, the trend towards At-Home Entertainment is fast gaining strength. Against the backdrop of volatile economic conditions, watching movies, listening to favorite music, or playing games at home is proving to be an economical option in comparison to expensive leisure pursuits such as vacations, dining out or watching movie screenings. The trend directly boosts demand for sophisticated loudspeakers that can enhance audio from TV shows, digital movies or games. Also encouraging growth in the market is the rising adoption of high-end home theater systems, which creates significant opportunities for satellite/subwoofer systems, in-wall speakers and soundbars. Huge demand for home automation solutions among luxury homeowners also creates demand for strategically placed outdoor speakers.

The market also stands to benefit from the robust pace of technology developments. Loudspeakers, over the years, have undergone immense transformation to incorporate the latest technologies and innovations. Among the various developments is the wireless technology that is gaining widespread adoption the world over. Changing consumer preferences, lifestyles, and media consumption habits are driving the acceptance of a range of new, innovative and non-traditional solutions for media playback. Growing demand for mobility, increasing proliferation of connected devices and rising penetration of Wi-Fi networks is making wireless connectivity a standard feature in urban households. While ‘audio quality’ has long been the only product feature influencing consumer purchase decisions, the future will witness the speakers’ ability to wirelessly connect with mobile devices as a key deciding factor. Wi-Fi and Bluetooth enabled speakers are therefore growing in popularity and are boosting market prospects for the overall market. Growing preference for wireless connectivity can be put to perspective by the fact that almost all speaker categories, including soundbars, mobile docking speakers, and even in-wall units are now being re-designed to incorporate wireless connectivity.

As stated by the new market research report on Loudspeakers, Europe represents the largest market worldwide both in terms of volume and dollar sales. The United States represents the fastest growing market with volume sales in the country projected to grow at a CAGR of 9.5% over the analysis period. Given their cost of ownership, satellite/subwoofer speakers continue to remain the largest speaker category in terms of dollar sales, while soundbars represent the fastest growing market with dollar sales waxing at a CAGR of 21% over the analysis period.

Key players covered in the report include Altec Lansing LLC, Amaoto Industrial Co., Ltd., B&W Group Ltd., Bose Corporation, Boston Acoustics Inc., Cerwin-Vega!, Creative Technology Ltd., Cambridge SoundWorks, DEI Holdings Inc., First Audio Manufacturing (H.K.) Ltd., Focal JM-Lab, Focus Audio Inc., German Physiks, Harbeth Audio Ltd., Harman International Industries Inc., Jean-Marie Reynaud, Mårten, Maxxsonics USA Inc., Nortek Inc., Niles Audio Corporation, SpeakerCraft Inc., Opera Loudspeakers, Pioneer Corporation, QLN AB, Quadral GmbH & Co. KG, Sammi Sound Tech Co Ltd., Scandyna A/S, Sonance, Inc., Velodyne Acoustics Inc., VOXX International Corporation, Klipsch Group Inc., and Yamaha Corporation, among others.

The research report titled “Loudspeakers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in value (US$ ) as well as in volume (Units) for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East and Latin America (Brazil and Rest of Latin America). Product markets analyzed include Pair Speakers, Satellite/Subwoofer Speakers, Subwoofer Speakers, Soundbars, In-Wall Speakers, and Outdoor Speakers, among others.

For more details about this comprehensive market research report, please visit –

http://www.strategyr.com/Loudspeakers_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.

Global Industry Analysts, Inc.

Telephone: 408-528-9966

Fax: 408-528-9977

Email: press(at)StrategyR(dot)com

Web Site: http://www.StrategyR.com/

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