Sound reinforcement equipment consists of essential components such as microphones, pro speakers, audio mixers, audio signal processors, and power amplifiers. The continues product innovations will enable superior capture, enhancement, and amplification of live or pre-recorded sound in the global market. The growing demand for public address (PA) systems and sound reinforcement equipment in educational and office premises will revolutionize the market.  Development of the commercial real estate, hospitality, corporate, and music industries in emerging nations of Japan, China, and India will create new avenues for leading vendors in the global market. The emergence of wireless digital technology, increasing focus on leveraging technology to introduce advanced features, and upgrades of product portfolios will boost the adoption of these systems in the market. The global sound reinforcement market is estimated to reach values of more than $9 billion by 2023, growing at a CAGR of around 3% during 2018-2023.

The different types of products available in the sound reinforcement market are:

1.    Microphones

Microphones are a prominent section of the sound reinforcement market. The increasing number of upgrades and replacement of legacy systems are the primary factor augmenting the growth of this segment. The top players in the AV industry are leveraging IoT to introduce product innovations in the microphone segment to attract new consumers. The advanced microphones available in the market can connect to various networks and operate over long distances or from remote areas. The growing demand for a digital wireless system for campuses will augment the growth of the global market. The microphone market is projected to grow at a CAGR of approximately 4% during the forecast period.

2.    Pro Speakers

The exponential growth of the music industry and the growing need for efficient sound distribution of sound in large venues such as the house of worships and stadiums is boosted the adoption of pro speakers in the global sound reinforcement market. The dynamic shift in the end-user preferences toward the sound power, speaker size, and aesthetic appeal will help players launch innovative products in the pro speaker market. The increasing investments in R&D will transform the global market. The pro speaker market is estimated to grow at a CAGR of around 3% during 2018-2023.

3.    Sound Mixer

Sound mixers are used to arrange multiple input signals in a balanced way to adjust its tone quality. Sound mixers are a suitable sound reinforcement equipment and broadcasted to the audiences to listen to in large surrounding. These systems are suitable for music recording studios, broadcasting studios, TV and film production and post-production units, and nightclubs. The invention and proliferation of powered speakers are augmenting the growth of this market segment. The sound mixer market is likely to grow at a CAGR of over 3% over the next few years.

4.    Audio Signal Processor

Audio signal processor offers a variety of tools to assist in optimizing a sound system for intelligibility, fidelity, and audibility. With time and advancement of technology, audio signal processors have developed, and it was possible to integrate similar processors into one device (compressor/limiters). The introduction of multi-function digital signal processors (DSP) will transform the global sound reinforcement market. The audio signal processor market is expected to grow at a CAGR of approximately 5% during the forecast period.

5.    Audio Power Amplifier

Audio power amplifier increases or enhances the power of an audio signal, and it uses electric power to increase the amplitude of signals. The extensive use of audio power amplifiers in broadcasting studios, nightclubs, DJs, theatres, and concerts halls will augment in the growth of the sound reinforcement market. The growing popularity of these devices will revolutionize the global market during the forecast period. The audio power amplifier market is projected to grow at a CAGR of around 6% during the forecast period.

6.    Other Products

The other products category in the sound reinforcement market consists of cables, audio networking solutions, recording hardware and software, racks, and stands. The combined market for these other products in the sound reinforcement market is anticipated to grow at a CAGR of more than 3% over the next few years.

The leading vendors in the sound reinforcement market are Audio-Technica, Bose, Harman International (Samsung), MUSIC Group, Sennheiser, Shure, Sony, and Yamaha.

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