New York, March 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Loudspeakers Global Market Report 2022" - https://www.reportlinker.com/p06248557/?utm_source=GNW
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The global loudspeakers market is expected to grow from $6.61 billion in 2021 to $7.25 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while 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 market is expected to reach $8.86 billion in 2026 at a CAGR of 5.1%.
The loudspeakers market consists of sales of loudspeakers and related services which are used in aural communication for the generation of music through auto technology, radio, audio players, and Bluetooth speakers. The loudspeaker device generates acoustical signal energy from a corresponding electric audio signal which is enough to be heard from a distance.
The main products of loudspeakers are soundbar, subwoofers, in-wall and outdoor.Subwoofers are a sort of speaker that amplifies the lowest frequencies in the audio.
Bass guitars, pipe organs, deep voices, kick drums, and cinematic sound effects are examples of low frequencies.Subwoofers are extremely popular for home theatre and automotive sound systems, and they are simple to install.
The various types of the enclosure include single mounted, multiple mounted, and not mounted that is used by household, commercial and other end-users.
Increased spending on entertainment products by consumers globally will contribute to the growth of the loudspeakers market in the forecast period.Consumers are preferring external sound systems as a medium of home entertainment and there is an increasing consciousness about the quality of sound they are experiencing as a result of which they are willing to spend more on sound systems.
According to Futuresource Consulting, the global consumer expenditure on entertainment content is reached $439 billion by the end of 2021. GFK recorded €7.9 billion ($8.5 billion) in sales in 2019 for the global audio devices market excluding North America. There is plenty of growth potential in smart devices with embedded voice assistants and loudspeakers which enhances entertainment at home. Increased consumer expenditure on entertainment and consciousness of quality of sound experienced increases the demand for different forms of loudspeakers which is driving the loudspeakers market.
Regulations by the government have always been challenging to the loudspeakers market as loudspeakers usage is one of the main reasons for noise pollution.Noise pollution deteriorates both physiological and psychological health which may lead to health complications such as hypertension, anxiety, increased stress levels, and can even lead to coronary artery disease.
In India, the Supreme Court passed a regulation that restricts the use of public address systems at night (between 10:00 pm and 6:00 am) and during cultural or festive occasions to not more than 15 days a year. These regulations are expected to negatively impact the growth of the loudspeakers 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 includes Sonos Wi-Fi speakers, Bose’s SoundTouch system, and Amazon’s Echo speakers.
In September 2019, a US-based company, Sonance announced that it has agreed with James Loudspeaker to acquire James for an undisclosed amount.The deal aims to combine engineering technology to reinforce its goal of providing superior acoustic performance in products by delivering innovative approaches.
James Loudspeaker is a US-based company and an innovator in both high-performance residential and commercial audio solutions. It produces products for exclusive homes, forward-thinking businesses, and upscale marine applications.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the loudspeakers market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06248557/?utm_source=GNW
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