Dublin, March 29, 2019 (GLOBE NEWSWIRE) -- The "Sound Reinforcement Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global sound reinforcement market revenue is expected to reach $9 billion by 2024 and is likely to grow at a CAGR of 3.33% during the period 2018-2024.
The global sound reinforcement market is witnessing a surge in demand for sound reinforcement equipment such as microphones, speakers, amplifiers, mixers, and processors due to increased adoption of sound reinforcement equipment in live music concerts, exhibitions, and trade shows. The increased use of sound reinforcement equipment in sports and tournaments, educational institutes, and corporate setups is likely to drive market growth during the forecast period.
The demand from several end-user markets has grown in countries such as China, Germany, Japan, and India due to the booming commercial real estate, hospitality, corporate, and music markets as well as the shift in the consumer behavior toward live music concerts and exhibitions in developing countries. The market research report provides an in-depth market and segmental analysis of the global sound reinforcement market by product types, format types, distribution channel types, end-users, and geographies.
The study considers the present scenario of the global sound reinforcement market and its market dynamics for the period 2019-2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply aspect of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.
Sound Reinforcement Market - Dynamic
The demand for sound reinforcement equipment was majorly concentrated in developed countries such as the US, Japan, the UK, Germany, and France. However, developing Asian countries such as India and China are witnessing increased penetration of these devices.
The sound reinforcement market is particularly developed and growing, with the presence of vendors such as Shure, Sennheiser, Audio-Technica, Bose, Harman, Sony, and Yamaha, offering products to a diverse range of market verticals. Futuristic inventions in the wireless digital technology and the growth in the complementary digital technologies are likely to boost investors' confidence in the market, and the market will witness an increase in the VC funding during the forecast period. New startups are likely to come with innovative solutions with advanced features while existing vendors will continue developing their product portfolio with upgrades. Thus, the introduction of upgrades will fuel market growth during the forecast period.
The global sound reinforcement market is witnessing a boost in growth due to the increased demand for audio and video equipment in government offices, institutional workplaces, and corporate houses. With an intensifying competitive market, the corporate sector and institutional workplaces are increasingly adopting equipments such as microphones and speakers to ease the working environment and smooth the flow of work activities. Further, the development of innovative tools and technologies to promote e-learning in classrooms is expected to fuel the growth of the global sound reinforcement market.
Sound Reinforcement Market Segmentation
This market research report includes a detailed segmentation of the market by products types, format types, distribution channels, end-users, and geography. The sound reinforcement market by products is categorized into microphones, pro speakers, audio mixers, audio signal processors, power amplifiers, and others. The microphone segment in the global sound reinforcement market is expected to grow at a CAGR of more than 2% by 2024.
Technological innovations in the microphone market are creating new opportunities for the vendors in North America and Europe along with developed economies of the APAC region. Although the market is exhibiting early signs of demand saturation and maturation, new demand for these devices is expected to come from developing economies such as China, India, and Brazil. Wireless microphones are expected to grow at the fastest CAGR than wired ones.
Key Vendor Analysis
The sound reinforcement market is characterized by the presence of diversified international vendors and a few regional vendors, as international players would increase their footprint in the market, regional vendors would be finding it increasingly difficult to compete with them, especially in terms of technology and customer base. The market concentration in developed countries such as the US and other Western European countries is high, while the market is in its nascent stage in developing economies such as China and India because of the entry of several global brands in these countries. The competition among vendors exists on the basis of offerings and pricing. Vendors are using new business models and focusing on developing portfolios to drive growth.
Major Vendors in the Global Market:
- Audio-Technica
- Bose
- Harman International (Samsung)
- MUSIC Group (MUSIC Tribe)
- Sennheiser
- Shure
- Sony
- Yamaha
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market At A Glance
7 Introduction
7.1 Overview
7.1.1 Pro AV Solutions
7.1.2 Sound Reinforcement
7.2 Macroeconomic Factors Enabling Market Growth
7.2.1 Economic Development
7.2.2 Per Capita GDP in Developing Markets
7.2.3 Dual-income Households in Developed Markets
8 Market Dynamics
8.1 Market Opportunities & Trends
8.1.1 Growing Convergence of Pro AV and IoT
8.1.2 Emergence of Networked Audio Technology
8.1.3 Growing Adoption in Educational Institutions
8.1.4 Increasing Number of Exhibitions, Conferences, and Seminars
8.2 Market Growth Restraints
8.2.1 Government Regulations - FCC Wireless Spectrum Auction
8.2.2 Technical Difficulties Hampering Adoption of Wireless Microphones
8.2.3 Acoustical Challenges Related to Pro Speakers
8.2.4 Volatility in Raw Material Prices Affecting Vendor Margins
8.3 Market Growth Enabler
8.3.1 Increased Demand from Corporate, Government, and Institutions
8.3.2 Growing Live Performance and Music Industry
8.3.3 Increasing Number of Sporting Events and Tournaments
8.3.4 Growing Music Production and Recording Industry
9 Value Chain Analysis
9.1 Overview
9.2 Value Chain Analysis
9.2.1 Technology Suppliers
9.2.2 OEMs
9.2.3 AV Consultants or Integrators
9.2.4 System Dealers and Distributors
9.2.5 System End-users
10 Market Landscape
10.1 Historical Data
10.2 Market Size & Forecast
10.3 Five Forces Analysis
11 By Product
12 Global Microphone Market
12.1 Market snapshot & Growth Engine
12.2 Market Size & Forecast
12.3 Market by product type - Wired & Wireless
12.4 Wireless Microphone Market by Sub-product
12.4.1 Handheld Microphones - Market Size & Forecast
12.4.2 Clip-on Microphones - Market Size & Forecast
12.4.3 Other Microphones - Market Size & Forecast
13 Global Pro Speaker Market
13.1 Market snapshot & Growth Engine
13.2 Market Size & Forecast
13.3 Market by product type
13.3.1 Point Source Speaker Systems - Market Size & Forecast
13.3.2 Line Array Speaker Systems - Market Size & Forecast
13.3.3 Subwoofers - Market Size & Forecast
13.3.4 Other Pro Speaker Systems - Market Size & Forecast
13.4 Market by Amplification method
13.4.1 Market Size & Forecast - Passive Systems and Powered Systems
14 Global Audio/Sound Mixer Market
14.1 Market snapshot & Growth Engine
14.2 Market Size & Forecast
14.3 MARKET by Product Type
14.3.1 Market Size & Forecast - Powered & Passive
15 Global Audio Signal Processor Market
15.1 Market snapshot & Growth Engine
15.2 Market Size & Forecast
15.3 MARKET by Product Type
15.3.1 Market Size & Forecast - Digital & Analog
16 Global Audio Power Amplifier Market
16.1 Market snapshot & Growth Engine
16.2 Market Size & Forecast
16.3 MARKET by Product Type
16.3.1 Market Size & Forecast - Digital & Analog
17 Global Market By Others
17.1 Market snapshot & Growth Engine
17.2 Market Size & Forecast
17.3 Market by Product Type
17.3.1 Market Size & Forecast - Cables, Audio Networking Solutions, & Others
18 By End-Users
18.1 Market snapshot & Growth Engine
18.2 Market Overview
18.3 Corporates
18.4 Large Venues & Events
18.5 Educational Institutions
18.6 Government & Military
18.7 Studio & Broadcasting
18.8 Hospitality
18.9 Other Sectors
19 By Format
19.1 Market snapshot & Growth Engine
19.2 Market Overview
19.3 Market Size & Forecast
19.3.1 Digital & Analog Sound Reinforcement Systems
19.4 Market by Geography
20 Distribution Channels
20.1 Market Overview
20.2 Manufacturing, Production, & Distribution
20.3 Distribution through retail stores
20.4 Distribution through Online Websites
21 By Geography
21.1 Market snapshot & Growth Engine
21.2 Overview
22 North America
23 APAC
24 Europe
25 Latin America
26 Middle East & Africa
27 Competitive Landscape
27.1 Competition Overview
27.2 Market Structure And Mapping Of Competition
27.2.1 Herfindahl-Hirschman Index
28 Key Company Profiles
28.1 Audio-Technica
28.1.1 Business Overview
28.1.2 Audio-Technica In Global Sound Reinforcement Market
28.1.3 Major Product Offerings
28.1.4 Key Strategies
28.1.5 Key Strengths
28.1.6 Key Opportunities
28.2 Bose
28.3 Harman International (Samsung)
28.4 Music Group (Music Tribe)
28.5 Sennheiser Electronic
28.6 Shure
28.7 Sony
28.8 Yamaha
29 Other Prominent Vendors
29.1 Adk Microphone
29.1.1 Company Overview
29.1.2 Strength
29.1.3 Strategy
29.2 Aeb Industriale (Db Technologies)
29.3 Alcons Audio
29.4 Ansr Audio
29.5 Apex Audio
29.6 Audioprof Group International
29.7 Audio Engineering Associates (Aea)
29.8 Audix Microphones
29.9 Beijing 797 Audio
29.10 Belden
29.11 Beyerdynamic
29.12 Blue Microphones
29.13 Bowers & Wilkins
29.14 Boya
29.15 Cad Audio
29.16 Carlson Audio Systems
29.17 Celto Acoustique
29.18 Coda Audio
29.19 Cordial
29.20 Dynaudio
29.21 D&B Audiotechnik/System
29.22 Electrovoice
29.23 Extron Electronics
29.24 Gtd Audio
29.25 Hedd - Heinz Electrodynamic Designs
29.26 Heil Sound
29.27 Hz Sound Systems
29.28 Inmusic Brands
29.29 Klipsch Audio Technologies
29.30 K-Array
29.31 Lectrosonics
29.32 Legrand
29.33 Lewitt
29.34 Liberty Av
29.35 Loud Audio
29.36 Mipro Electronics
29.37 Mxl By Marshall Electronics
29.38 Nady Systems
29.39 Outline
29.4 Pan Acoustics
29.41 Powersoft Audio
29.42 Proel
29.43 Pyle-Pro
29.44 Samson Technologies
29.45 Se Electronics International
29.46 Southwire Company
29.47 Stewart Audio
29.48 Vivolink
29.49 Zaxcom
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