The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Loudspeakers Global Market Report 2023, the loudspeakers market is expected to show significant growth in the forecast period.

Key insights from the loudspeakers market forecast include:

1. Market Size

The global loudspeakers market is expected to grow from $7.25 billion in 2022 to $7.74 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The market size of loudspeakers is expected to grow to $9.35 billion in 2027 at a CAGR of 4.9%.

2. Major Driver

Increased spending on entertainment products by consumers globally will contribute to the growth of the loudspeakers market in the forecast period. For instance, in February 2022, according to the Digital Entertainment Group (DEG), a US-based industry association that advocates and promotes entertainment platforms, products, and distribution channels, consumer expenditure on home entertainment grew at an unprecedented rate in 2021, with total physical and digital home entertainment spending rising by 7.8% to a record $32.3 billion. Increased consumer expenditure on entertainment and consciousness of the quality of sound experienced increases the demand for different forms of loudspeakers which is driving the loudspeakers market.

View More On The Loudspeakers Market Report 2023 – https://www.thebusinessresearchcompany.com/report/loudspeakers-global-market-report

3. Key Trend

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.

4. Major Players

Major players in the loudspeakers market are Bose Corporation, Harman International Industries, Bowers &Wilkins, Klipsch Audio Technologies, KEF, Sonance, Yamaha Corporation, Sony Corporation, Creative Technology Ltd., and Wharfedale.

5. Top Market Segments

The global loudspeakers market is segmented –

1) By Product: Soundbar, Subwoofers, In-wall, Outdoor

2) By Type Of Enclosure: Single Mounted, Multiple Mounted, Not Mounted

3) By End User: Household, Commercial, Other End Users

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The Loudspeakers Global Market Report 2023  provides an in-depth analysis on the loudspeakers market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the loudspeakers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Loudspeakers And Sound Bars Global Market Report 2023

Audio Equipment Global Market Report 2023

Speaker Drivers Global Market Report 2023

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