Sound Reinforcement Market

Most Exhaustive Report

Sound Reinforcement Market - Global Outlook and Forecast 2018-2023

Sound Reinforcement Market

Most Exhaustive Report

Sound Reinforcement Market - Global Outlook and Forecast 2018-2023

SKU : ARZ180102 Published on : January 2018 Pages : 216 Updated Report Available

${{licencetype}}

Get 10% Free Customization
On This Report.
Customize this report Enquire before buying
data center market research

Get actionable insights on how COVID-19 is impacting your business sector.

Enquire now

This market research report on the sound reinforcement market offers analysis on market size and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product type (microphones, pro speakers, audio/sound mixers, audio signal processor, power amplifier, and others), format type (digital and analog), distribution (retail and online), end-user (corporate, large venues and events, educational institutions, government and military, studio and broadcasting, hospitality, and others), and geography (APAC, Europe, Latin America, MEA, and North America).

Sound Reinforcement Market - Overview

The exponential rise in the demand for digital equipment in APAC and the US and the launch of new product models are driving the growth of the market. The growing demand for reinforcement products and increased end-users’ spending sentiments on music concerts and festivals worldwide help leading vendors in the sound reinforcement market gain a larger market share. The booming commercial real estate, hospitality, corporate, and music markets in countries such as the US, the UK, Germany, Japan, China, and India will create investment opportunities for various companies in the market. The increasing spending on consumer goods, restaurant, and concerts is boosting the entertainment industry and driving the demand for new sound equipment in the global market. The proliferation of wireless digital technology in various countries in APAC such as India and China and Latin American countries will propel the growth of the sound reinforcement market during the forecast period.

Prominent players and emerging companies are investing in the development of innovative solutions with advanced features and focusing on product portfolio upgrades to gain a larger market share in the global sound reinforcement market. The replacement of sound equipment in government offices and premises, courtrooms, university campuses, nightclubs, restaurants, and other institutions will contribute to the revenue of the sound reinforcement market. The global sound reinforcement market is expected to cross $9 billion by 2023, growing at a CAGR of 3.01% during the forecast period.

Global Sound Reinforcement Market Size in Revenue

Global sound reinforcement marketsize to cross 9 billion in revenue

Sound Reinforcement Market - Dynamic

The technological revolution in educational institutes across the world is propelling the demand in the global sound reinforcement market. The introduction of smart campuses that uses wireless technology and IoT to promote interconnectedness in various university campuses will augment the growth of the market. Several vendors are launching audio system upgrades and equipping classrooms with wireless technologies to promote smart campuses in the global market and to gain a larger market share. The implementation of sound reinforcement equipment with modern technology will add stimulus and enhance the interaction between the learner and the educator within the classroom. Furthermore, the development of innovative tools and technologies to promote e-learning in classrooms will fuel the growth of the global sound reinforcement market.

Sound Reinforcement Market Segmentation

This market research report includes a detailed segmentation of the market by products type, format type, distribution channels, end-users, and geography.

Segmentation of Global Sound Reinforcement Market

 

Sound Reinforcement Market – By Product Type

Microphones to dominate the market share during the forecast period

The market by products is categorized into microphones, pro speakers, audio/sound mixers, audio signal processors, power amplifiers, and others. The microphone segment i is expected to value at $3 billion by 2023. The exponential use of microphones in concerts, musical events, sporting tournaments, and broadcasting studios across the globe is fueling the growth of the microphones market. The rising need for upgrades and replacement of legacy systems in developed and emerging markets will help leading vendors gain a larger market in the global sound reinforcement market. The microphones segment is further divided into wired and wireless microphones. The introduction of connected devices and propagation of IoT will have a positive impact on the growth of the market.

Sound Reinforcement Market – By Format

Digital sound equipment to occupy the largest market share by 2023

In terms of format, the market is divided into digital sound reinforcement equipment and analog sound reinforcement equipment. The digital equipment segment dominated the global sound reinforcement market, accounting for more than half of the total market share in 2017 and is expected to generate revenue of about $6 billion during the forecast period. The increasing number of internet users and the growing number of connected devices will drive the growth of this market segment over the next few years.

Sound Reinforcement Market – By End-users

The corporate sector to dominate the market during the forecast period

The end-user segment is divided into corporate, large venues and events, educational institutions, government and military, studio and broadcasting, hospitality, and others. The corporate sector was the largest in the sound reinforcement market. Rise in the number of offices, geographic expansion of companies, and integration of IoT in business workflow processes are some of the factors driving the growth of the corporate sector in the sound reinforcement market. The introduction of corporate e-learning programs to enhance the skill development of the employees will boost the demand for equipment in the global market.

Sound Reinforcement Market – By Geography

APAC to be the fastest growing geographical market during forecast period

The geographical segment in the sound reinforcement market is categorized into APAC, Europe, Latin America, MEA, and North America. APAC is the fastest growing geographical segment. Countries such as Japan, Australia, China, and South Korea are the major revenue contributors in the sound reinforcement market in APAC. The adoption of advanced lifestyles and increased per capita income in various APAC countries will boost the demand for sound equipment in the APAC market.

Key Countries Profiled

The key countries profiled in the report are:

  • Australia
  • Brazil
  • Canada
  • China
  • France
  • Germany
  • Japan
  • South Korea
  • UK
  • US

Key Vendor Analysis

The rapidly changing technological environment is intensifying the competition in the global sound reinforcement market. The market is highly fragmented, and the leading vendors control more than 40% of the total market share. The introduction of sound reinforcement systems with high functionality and innovative designs will help vendors gain a large market share and increase their consumer base. With the improving economic conditions and the introduction of innovative technologies leading players are focusing expanding their businesses to emerging countries in APAC and Latin America. Vendors will try to distinguish their products and service offerings through a clear and unique value proposition during the forecast period.

The major vendors in the global market are:

  • Audio-Technica
  • Bose
  • Harman International (Samsung)
  • MUSIC Group
  • Sennheiser
  • Shure
  • Sony
  • Yamaha

Other prominent vendors include Alcons Audio, Audix, Beyerdynamic, Blue Microphones, Bowers & Wilkins, Carlson Audio Systems, Dynaudio, Electro‑Voice, Heil Sound, Hz Sound Systems, inMusic Brands, Klipsch Audio Technologies, K-Array, Lectrosonics,Loud Audio, LEWITT, MIPRO Electronics, MXL by Marshall Electronics, Nady Systems, Pyle-pro, PROEL, RCF, Samson Technologies, and ZAXCOM.

Key market insights include

  1. The analysis of the sound reinforcement market provides market size and the growth rate for the forecast period 2018 – 2023.
  2. It offers comprehensive insights on current industry trends, trend forecast, and growth drivers of the market.
  3. The study provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
  4. It offers a complete overview of market segments and regional outlook of the global market.
  5. The market research report offers provides a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

FILL IN YOUR DETAILS BELOW TO GET FREE SAMPLE OF THIS REPORT

Client Speak

data center market size

Erik Young

CEO, Co-founder
Audink Inc., DBA Audios

The report by Arizton was spot on. It not only gave us insight into the pro audio market, we used it to raise funds for our company. The data proved (to the VC we pitched to) that the market was large enough for our company to not only survive but also grow.

data center market

Benjamin Arnold

Senior Product Manager
Interstates

I recently purchased a key Arizton Industry Outlook & Forecast in order to better understand growth for specific market segments and the macro environmental factors impacting this growth. I found Arizton’s coverage of the market dynamics and key takeaways to be insightful and valuable. The segmentation breakouts gave me the information I needed to guide strategic considerations.

data center market research

Hallmann, Nickolai

Manager Market Analyst Power
Generation & Energy
Rolls-Royce Power Systems AG

The provided information by Arizton really met my expectations. Especially the deep information about the datacenter ecosystem was very helpful. Furthermore, I absolutely appreciate the optimal service from the key account managers of Arizton. It was always a pleasure working with them.

Customer Service

Support

+1-312-235-2040

Copyright 2019 - Arizton

data center market