Loudspeaker Market

Loudspeaker Market Outlook (2023 to 2033)

The global loudspeaker market stands at US$ 3.58 billion in 2023. Worldwide demand for loudspeakers is predicted to increase at a CAGR of 5.8% and reach a market value of US$ 6.29 billion by the end of 2033.

Loudspeakers convert electrical signals into different audio sound waves. Some people address loudspeakers as speakers however, they have slight differences. Speakers and loudspeakers are similar as they both produce sound while converting electrical signals into audible sounds. The only difference is in their sound as loudspeakers can generate louder sound compared to speakers.

Increasing demand for loudspeakers from numerous end-use sectors, including household, commercial, etc., is predicted to contribute to market growth opportunities over the coming decade. Rising consumer expenditure on different entertainment forms is anticipated to open up a plethora of opportunities for industry players.

• Worldwide sales of soundbars are projected to reach a valuation of US$ 1.52 billion by the end of 2033.
• The Indian market is expected to flourish at a CAGR of 5.8% and reach a value of US$ 1.43 billion by the end of 2033.
• Sales of loudspeakers in South Korea are projected to rise at a healthy CAGR of 6.4% and reach US$ 490.99 million by the end of the forecast period.

Increasing demand for soundbars that provide excellent audio quality is estimated to generate lucrative opportunities for suppliers of loudspeakers. Moreover, growing consumer expenditure on entertainment is also predicted to open new opportunities for market players over the decade. Constantly changing lifestyles along with changing consumer preferences are also projected to drive the demand for products in the target market.

Growing use of good networks and Wi-Fi provides an option for consumers to compare products and opt for the best one according to their requirements. Manufacturers of loudspeakers are concentrating on providing innovative loudspeakers with good sound quality and less wiring. Integration of IoT (Internet of Things) in loudspeakers along with increasing technological advancements in sound quality and design is predicted to offer growth opportunities for players.

Fact.MR, a provider of market research and competitive intelligence, recently published a research report on the global loudspeaker market. This research report provides a thorough analysis of market growth strategies, which are adopted by industry players to gain a competitive edge in the target industry. Sales analysis of loudspeakers, key trends, new developments, and some other aspects are also provided in this report.

Report Attributes	Details
Loudspeaker Market Size (2023)	US$ 3.58 Billion
Predicted Market Value (2033)	US$ 6.29 Billion
Global Market Growth Rate (2023 to 2033)	5.8% CAGR
Home Entertainment Segment Value (2033)	US$ 2.08 Billion
United States Market Growth Rate (2023 to 2033)	6.4% CAGR
China Market Value (2033)	US$ 1.23 Billion
Japan Market Growth Rate (2023 to 2033)	6.4% CAGR
Key Companies Profiled	Honeywell International Inc. Intel Corporation Samsung Electronics Co. Ltd. Toshiba Corporation Avalanche Technology Inc. Everspin Technologies Inc. NVE Corporation Spin Transfer Technologies Crocus Nano Electronics LLC Qualcomm Inc. Bose Corporation Xiaomi Communications Co. Ltd. Oontz (Cambridge Sound Works) VOXX Electronics

Which Key Facets are Contributing to Increased Demand for Loudspeakers?

“Noteworthy Technological Advancements in Loudspeakers”

The advent of numerous wireless loudspeakers in the market is predicted to boost their sales. Smart living is becoming popular and it is predicted to lead to an increase in Bluetooth and Wi-Fi-enabled devices. These devices provide enhanced audio output quality. They can deliver multi-room audio, which can be controlled from the smartphones of consumers. Various leading manufacturers are exploiting these technologies to offer advanced products.

• Altec Lansing launched its first Alexa, which offered hands-free voice-activated speakers. It contains built-in far-field audio technology, addressed as Versa. It is capable to pick up commands from across rooms. This hands-free speaker is dirt-proof, IP67-rated waterproof, snowproof, and equipped with Bluetooth and Wi-Fi.

“Inclination towards Compact-sized Loudspeakers”

The compact size of in-wall loudspeakers is driving market growth opportunities. These compact-size speakers come with a level-headed sound array and are cost-effective. They are generally used in restaurants and cafes as they require little space. The growing use of loudspeakers for communication is projected to widen the horizon of the target market over the coming 10 years.

The increasing demand for compact-sized speakers is due to the rising scope of emerging services, including ambulance calls for the transportation of sick patients for diagnosis and other facilities.

Which Initiative Helps New Entrants to Establish Themselves in the Global Market?

“Investments in Wireless Speakers Generating Lucrative Opportunities for Start-ups”

The emergence of wireless speakers is anticipated to open up lucrative opportunities for start-ups. In recent years, the demand for Bluetooth and Wi-Fi-enabled devices has been skyrocketing due to the growing popularity of smart living.

Investments by new entrants in these wireless speakers are projected to improve the quality of audio. They can be managed with the use of a single application on a smartphone and the sound can be sent to various rooms at once. New companies can make excellent use of these technologies to offer innovative products.

Country-wise Insights

Why are Suppliers of Loudspeakers Targeting the United States?

“High Demand for Smart Speakers Generating Market Growth Opportunities”

• According to the report published by the Consumer Technology Association, the industry size of home theatre systems in the United States was recorded at about US$ 87 million in 2020, and the wireless speakers industry was valued at US$ 5,975 million.

The United States market is majorly driven due to increased inclination toward smart speakers. Sales of loudspeakers in the United States are predicted to flourish at a CAGR of 6.4% and reach a market value of US$ 459.52 million by the end of 2033.

• Manufacturers of loudspeakers, including Acoustic Research, offer a wide variety of wireless speakers. The Sedona Rechargeable Wireless Speaker comes with an LED flickering flame light, Santa Cruz Portable Wireless Speaker has an LED flickering flame light, and the Mainstreet Rechargeable Wireless Speaker has different modes of colors.

What’s Contributing to High Sales of Loudspeakers in India?

“Increasing Product Sales through e-Commerce Platforms”

The Indian market is forecasted to advance at a CAGR of 5.8% and reach a valuation of US$ 1.43 billion by the end of 2033. The increased demand for these home entertainment devices is attributed to the rising expenditure of middle-class people on different entertainment products. Moreover, the increased penetration of e-Commerce platforms is estimated to contribute to rising sales of loudspeakers.

How Lucrative is the Market in Japan for Loudspeaker Suppliers?

“Growing Use of Smart Speakers in Japan”

Demand for loudspeakers in Japan is anticipated to expand at a CAGR of 6.4% and reach a value of US$ 333.62 million by the end of 2033. Many Japanese people are inclined toward smart speakers for listening to music, setting alarms or timers, and getting weather forecasts. Manufacturers of loudspeakers are tailoring their products according to the demand for speakers in Japan.

Category-wise Insights

Which Type of Speaker is Most Widely Used Globally?

“Increasing Demand for Soundbars for Theatre-like Experiences in Residential Settings”

The global market is classified into satellites, subwoofers, outdoor, multimedia, wall-mounted, and soundbars, based on type. Among these, the demand for soundbars is estimated to expand at a CAGR of 5.9% and reach a market value of US$ 1.52 billion by the end of 2033.

Increasing demand to get theatre-like sound quality in residential settings is predicted to stimulate enhanced sales of soundbars around the world. Wireless connectivity, augmented output, and easy installation are some other pivotal factors driving the growth of the target market.

Leading companies, including JBL, Sonos, Sennheiser, and Bose Corporation are experiencing an increased demand for their products around the world. They are launching new products to meet the rising consumer demand for more advanced sound systems.

For instance,

• In August 2022, JBL launched a 3D soundbar, which includes the JBL 1000. This newly launched 7.1.4-channel JBL Bar 1000 provides an excellent home theater experience with four up-firing speakers without the use of cables.

Which Loudspeaker Application Generates High Revenue Streams?

“Growing Demand for Loudspeakers for Home Entertainment Purposes”

Loudspeakers for communication, loudspeakers for home entertainment, and automotive loudspeakers are some popular applications of loudspeakers. Among these, sales of loudspeakers for home entertainment are predicted to advance at a CAGR of 6.1% and reach a valuation of US$ 2.08 billion by the end of the forecast period in 2033.

In recent years, home theatres are becoming popular due to the rising inclination to enjoy theatre-like experiences in home settings. Manufacturers are introducing various products, which are compatible with different communication equipment for smart homes.

Key Market Players

Key suppliers of loudspeakers are increasing their expenditure to provide innovative and more advanced systems. They are spending to strengthen their supply chain management systems and also ensure product standards and product quality while adhering to the set guidelines.

Industry players are adopting numerous innovative approaches, including new development, agreements, acquisitions, mergers, etc., to expand their footprints.

For instance :

• Naveto Systems is an Israeli tech company. In November 2020, the company developed ‘futuristic audio technology’ to provide listeners with solo wireless music that too without the use of headphones. This newly developed technology uses a 3D sensing module from the respective speakers and further locates and tracks the position of the ear to send audio through ultrasonic waves.
• Sonance is a manufacturer of loudspeakers for smart-home installation channels. In September 2019, the company signed an agreement for the acquisition of James Loudspeaker.

Prominent players in the loudspeaker market are Honeywell International Inc., Intel Corporation, Samsung Electronics Co. Ltd., Toshiba Corporation, Avalanche Technology Inc., Everspin Technologies Inc., NVE Corporation, Spin Transfer Technologies, Crocus Nano Electronics LLC, Qualcomm Inc., Bose Corporation, Xiaomi Communications Co. Ltd., Oontz (Cambridge Sound Works), and VOXX Electronics.

Segmentation of Loudspeaker Industry Research

• By Type :

  • Satellites
  • Subwoofers
  • Wall-mounted
  • Outdoor
  • Soundbars
  • Multimedia

• By Application :

  • Loudspeakers for Communication
  • Automotive Loudspeakers
  • Loudspeakers for Home Entertainment

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa