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The loudspeaker market is driven by the growing demand from various leisure activities, such as gaming, outdoor parties, indoor parties, and family gatherings, among others. The 3D surround sound produced by the loudspeakers can reach a vast number of audiences. Hence, a loudspeaker is also effective in the classrooms, corporate presentations, and drama theatres. Over the forecast period, the growing demand for loudspeakers among the blind people is likely to propel the sale of the product. Through loudspeakers, computer text can be converted into sound, which can help the blind students have better understanding of the subjects.
In terms of region, the Asia Pacific is likely to account for a significant share in the market, owing to the growing adoption of the speakers from the household sector. The loudspeakers have gained a significant popularity among the home-makers, owing to the capability of the product in lightening up the mood and calming the nerves by offering the music of the consumer’s choice. The rapid expansion of the electrical and electronics sector in countries like India and China is likely to provide an impetus to the market growth.
In May 2021, Sony Corporation (TYO: 6758) introduced the X-Series speakers, including SRS-XP700, SRS-XP500, and SRS-XG500. These products have been designed to help customers by bolstering their sound experience. The X-Series speakers offer a range of sound quality, portability, durability, and lighting options. The XP700, XP500, and XG500 are Sony’s balanced speaker units, which have the capability to fill any type of space with widespread sound. The XG500 features passive radiators that are optimised to reproduce clear bass sound for the ultimate listening experience.
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The major players in the global loudspeaker market include Altec Lansing LLC, Bose Corporation, Sound United, LLC, Dynaudio A/S, Harman International Industries, Inc., Logitech International S.A., Klipsch Group, Inc., and Sony Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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