Professional Speakers Market By Product Type (Point Source Speaker Systems, Line Array Speaker Systems, Subwoofers, Other Pro Speaker Systems) By Forma (Digital, Analog) By Distribution Channel (Online Stores, Retail Outlets, AV System Integrators, PRO AV Dealers & Distributors, PRO AV Electronic Stores) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028.

About this report

The professional speakers industry is critically analyzed using key characteristics in the global professional speakers market study. The research covers investment tactics, the need for investments in the market for professional speakers, and the many advantages for investors. The paper also details how both economic and non-economic hurdles are promoting the expansion of the professional speakers market. These are significant developments in the global technical rules for the sector. Additionally, the report examines historical and projected market sizes at the global, regional, and national levels. The report also offers a thorough analysis of the most important investment propositions, the demand and supply gap, the positioning of the competition, and the STAR, SRC, and Tornado analyses. Important technology advancements and other assessments, including Porter's Five Forces, PESTEL, Value Chain, etc., are also included in the report.

Key Highlights of the report

How are the major segments performing in the professional speakers market?

• Point source speaker systems are less expensive than multi-speaker variants and have improved sound coherence, so they dominated the global professional speakers market in 2021.
• The online retailers category had the highest revenue share in the market in 2021 due to the availability of a large variety of products on numerous e-commerce websites like Amazon, eBay, Alibaba, and many more.
• A significant portion of the market in 2021 belonged to the corporate segment as a result of the opening of new offices and the growing use of IoT by businesses around the world.

Which region dominated the professional speakers market?

North America accounted for the highest portion of professional speakers worldwide in 2021, and it is anticipated that it will continue to dominate the industry going forward. The growth is mostly owing to pro AV systems' rising adoption in the United States and Canada. Another important element driving market expansion in this region is the presence of significant industry players.

What is the competitive environment of the professional speakers market?

The competitive environment for the professional speakers market provides data on the total economic profit made by suppliers and businesses, the sales and revenues generated in this industry, the professional speakers market share globally, a summary of the business organization, the introduction of new products, and market opportunities. In addition, a well-organized and effective supply chain and an extended retail network are among speaker manufacturers' main expansion tactics for connecting with consumers.

Executive Summary

How is AI transforming pro AV speakers?

All sectors of society now use artificial intelligence, including healthcare, finance, industry, and education. Artificial intelligence (AI) is the term used when a computer starts to mimic cognitive functions that people associate with those of other human brains. Pro AV is not being left behind, as AI Technologies have made incredible strides. AV endpoints are now gathering system analytics and room measurements. In order to collect more valuable data in more locations, the cloud, 5G's super-fast connection, IoT sensors, and artificial intelligence (AI) are combining. According to AV experts, this convergence will usher in a new era of design where systems are developed with learned user behaviours in mind. Additionally, there are a lot of opportunities created by the integration of voice and intelligent assistants in professional AV environments. One such possibility is to use this technology in conjunction with a clever Active Directory. Businesses already maintain a database containing the contact and professional details of their employees. With a smart AD, businesses might begin storing biometric information, including voice. This would completely do away with the need to check in at flexible meeting locations. As an alternative, when staff enters a conference room, speech recognition will immediately activate their preferences.

Which are the key investments by the professional speakers market players?

The top players in the professional speaker market are focusing on increasing their ability to produce storage and retrieval systems. In addition to this, players are focusing on strategic alliances, mergers, and acquisitions, collaborations, and raising consumer awareness through a variety of advertising campaigns to aid manufacturers in promoting the use of professional speakers in the industry. This further aids to expand their customer base in the global market for professional speakers and gain a competitive edge.

Harman International, Sony Corporation, D&B Audiotechnik, Universal Music Group N.V., LOUD Audio LLC, L-Acoustics, Bowers & Wilkins, Carlson Audio Systems, Bowers & Wilkins, and Bose Corporation are some significant industry players in the professional speaker market.

What are the major driving factors for the professional speakers market?

There are several key drivers that are projected to propel the growth of the professional speakers market, including new product launches, the convergence of IoT and the pro-AV industry, and increased demand from athletic arenas and stadiums. In addition, a growing need for efficient sound reinforcement equipment, such as pro speakers for communication and announcements in stadiums and athletic venues, will fuel market growth in the coming years. The corporate sector and institutions are gradually integrating AV technology to enhance and regulate workplace workflow as a result of rising competition. In the business sector, the usage of sound reinforcement equipment and video conferencing systems is becoming necessary. As a result, providers are creating fresh goods that meet the needs of the moment, which promotes the expansion of the market for professional speakers. Additionally, as music gains in popularity, the number of musical performances will rise. This will also speed up the rate of advancement in music production and recording technology, which will fuel the expansion of the global professional speaker market over the coming years.

What are the major risks for the professional speakers market?

Acoustical issues and fluctuating raw material prices are a couple of the main things holding back the expansion of the professional speaker market. To ensure that there is no interference between two speakers, a sufficient array of point source speakers must be used. Additionally, using point sources and line array speakers has disadvantages due to design limitations. The future expansion of the market may be hampered by these constraints.

Which is the key application in the professional speakers market?

Since point source speaker systems are less expensive than multi-speaker counterparts and offer superior sound consistency, they have dominated the market for professional speakers globally. A point source loudspeaker does precisely what its name suggests: it is a single speaker, or a number of speakers placed far apart, that emits a broad range of sound from a single point. To achieve higher SPL levels, a stack of identical-range speakers is stacked on top of one another in a point source arrangement.

How is the professional speakers market performing in regions?

The largest portion of the global market for professional speakers is owned by North America. The expansion is attributed to pro AV system penetration increasing to an all-time high in the United States and Canada. The market expansion in the upcoming years is also being driven by the presence of significant industry players in this area. A higher CAGR is anticipated for Asia-Pacific during the projection period as a result of rising disposable income and technological improvements in nations like China, Japan, India, and South Korea.

What is the regulatory landscape for the professional speakers market?

Professional speakers marketed in the EU must comply with the RoHS (Restriction of Hazardous Compounds Directive), which limits the use of particular hazardous substances in electronic equipment. Cadmium (Cd), Lead (Pb), and Mercury (Hg) are only a few of the prohibited compounds listed by RoHS. Batteries, metal coatings, and solder all include these banned chemicals. Every electrical or electronic part of your product must comply with RoHS. Only RoHS compliant components may be used in manufacturing or assembly procedures by your suppliers.

What is the market size of professional speakers regarding value?

The market for professional speakers is predicted to expand at a substantial CAGR of 3.0% during the forecast period.  The value of the professional speakers market was predicted to reach USD XX billion in 2021 and USD XX billion in 2028.

What are the major players planning for the future of the professional speakers market?

It is envisaged that investing in downstream applications and expanding regional presence will give businesses a competitive edge. For instance, JBL Professional 3800 and 4800 Series screen-channel loudspeakers that can be put in small to medium-format theatres were introduced by Harman International in December 2021. The SRS-RA3000, Sony Corporation's newest high-end wireless speaker, was introduced in February 2021. These launches will increase both the company's consumer base and product portfolio.

Segmentation of Global Professional speakers Market-

Global Profession speakers Market – By Product Type

• Point Source Speaker Systems
• Line Array Speaker Systems
• Subwoofers
• Other Pro Speaker Systems

Global Professional speakers Market – By Format

• Digital
• Analog

Global Professional speakers Market – By Distribution Channel

• Online Stores
• Retail Outlets
• AV System Integrators
• PRO AV Dealers & Distributors
• PRO AV Electronic Stores

Global Professional speakers Market – By End-User

• Corporates
• Large Venues & Events
• Educational Institutes
• Government & Military
• Studio & Broadcasting
• Hospitality
• Others

Global Professional speakers Market – By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • U K.
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-east Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa