Rapid urbanization and industrialization are two major factors that are driving the adoption of sound reinforcement systems in several sectors
A sound reinforcement system is a combination of several components such as microphones, pro speakers, audio mixers, audio-signal processors, and power amplifiers. It is designed and engineered to capture, enhance, and amplify the live or pre-recorded sounds. In the last couple of years, sound reinforcement market have witnessed a high demand in North America due to multiple factors such as the growth in the live music and studio & broadcasting industry and corporate sectors. Further, rapid urbanization and industrialization are two other major factors, which are accelerating the adoption of these systems in several sectors, including retail, IT parks, hospitality, and infrastructure.
Several new vendors are trying to enter the US sound reinforcement market by introducing innovative tools and devices. However, the existing consumer electronics vendors/traditional pro AV systems providers are not far behind. They are consistently enhancing their product portfolios. Hence, the introduction of upgrades is expected to drive market growth during the forecast period. Advancements in technology will help sound enhancement products to fare better in terms of usage, connectivity, design, sensor technology, and signal transmission during the forecast period.
US SOUND REINFORCEMENT INDUSTRY TRENDS
Educational institutes are utilizing AV systems to enhance campus-wide announcements and improve student faculty communication
The US sound reinforcement market is observing an impetus due to the increased demand for audio and video equipment in corporate houses, government offices, and institutional workplaces. With an intensifying competitive market, the corporate sector and institutional workplaces are increasingly adopting equipment such as Pro AV solutions to smoothen the flow of work activities.
The usage of sound reinforcement systems across educational institutes has witnessed considerable transformation over the years. Further, the development of innovative tools and technology to promote e-learning in classrooms is expected to fuel the growth of these devices in the educational sector. Having realized the high potential of AV systems, several vendors are partnering with educational institutes, which is expected to drive the US sound reinforcement market in coming years. For instance, Midland Independent School District (ISD), Texas, utilizes AMX School View AV systems, which help to enhance campus-wide announcements, improve student faculty communication, and deliver crucial safety features for the staff and students. Hence, the consistent changing dynamics in the educational sector of the country along with growth of new institutes is likely to propel the US sound reinforcement market during the forecast period.
US SOUND REINFORCEMENT MARKET SHARE & SEGMENTS
The market research report includes detailed market segmentation by
- Distribution Channels
INSIGHTS BY PRODUCTS
Replacement of legacy systems is expected to drive the US sound reinforcement market
The US sound reinforcement market by product can be segmented into microphones, pro speakers, audio/sound mixers, audio signal processors, power amplifiers, others. In 2018, the microphones segment led the market and is expected to grow at a CAGR of around 2.5% during the forecast period. Microphones are further categorized into wired, handheld, clip-on, and other wireless microphones. They are widely used in concerts, musical events, sporting tournaments, and broadcasting studios. The growth in the microphone industry is propelled by upgrades and replacements of the legacy system. Further, vendors are also exploring ways to implement IoT and AV technology in microphones, which allows the user to operate from remote areas. For instance, in 2014, Taylor University located in Indiana, US invested in Shure ULX-D digital wireless system for campus audio requirements.
Pro speakers are the second largest market, and the US sound reinforcement market is witnessing increased adoption of pro speakers. This can be attributed to the growing music industry, the increasing demand for PA systems, and the need to efficiently distribute sound in large venues such worship places or stadiums. Pro speakers are widely used in vertical markets such as corporates, live music events and festivals, public speaking, and broadcasting and recording studios.
The sound mixers, audio signal processors, and audio power amplifiers segments are gaining momentum due to the growth in the music industry. With the increased music production and the growing market for nightclubs and DJ equipment, the demand for audio mixers is expected to grow in the US sound reinforcement market during the forecast period.
INSIGHTS BY FORMAT
The digital segment is expected to dominate the US sound reinforcement market by 2024
The US sound reinforcement market by format can be segmented into digital and analog segments. The digital segment captured more than half of the market in 2018 and is expected to grow at a CAGR of around 4.5%. The analog segment, on the other hand, is expected to grow at a CAGR of around 1.3% during the forecast period. The digital segment is expected to witness market growth in the coming year due to the increasing internet users and the growing number of connected devices over the next few years.
INSIGHTS BY DISTRIBUTION CHANNELS
Online distribution channels are gaining prominence due to increased penetration of smartphones
The US sound reinforcement market by distribution can be segmented into online and retail segments. In 2018, the retail segment contributed the highest market revenue globally. Although the trend of selling sound reinforcement products online and in OEM stores is growing, a significant share of product distribution in the market takes place through conventional pro audio and electronics stores/outlets. However, with the increasing penetration of the internet, the availability of high discounts and access to consumer reviews, the online distribution segment of the US sound reinforcement market is likely to increase during the forecast period.
INSIGHTS BY END USER
Growing number of commercial buildings has fueled demand for quality sound reinforcement systems
The US sound reinforcement market by end-user can be segmented into large venues and events, corporates, educational institutes, government and military, hospitality, and others. The corporate sector is expected to remain the largest end-user segment in the sound reinforcement market, contributing a significant revenue share to the global market by 2024. Further, the geographical expansion of companies and integration of IoT in business workflow processes are other major factors, which have made corporates as the largest end-user. The corporate segment will grow due to the growing demand for AV conferencing solutions among organizations during the forecast period.
The growing application of pro AV systems in the hospitality sector is also driving the demand for AV products. Restaurants, hotels, nightclubs, casinos, and cruise ships are other sectors that are increasingly incorporating modern-day pro AV systems to enhance consumer experience.
KEY VENDOR ANALYSIS
The US sound reinforcement market is highly fragmented with the presence of a large number of local and global players. Market vendors compete in terms of quality, product features, and competitive pricing. The competition is expected to intensify further during the forecast period with an increase in product innovations. Also, an increase in product/service extensions, technological innovations, and M&A are expected to drive the US sound reinforcement market. Audio-Technica, Bose, HARMAN International, MUSIC Group (Music Tribe), Sennheiser Electronic, Shure, Sony, Yamaha are the leading vendors in the market.
The US sound reinforcement market research report provides in-depth coverage and market size in terms of revenue and shipment by following segments:
- Pro speakers
- Audio/Sound Mixers
- Audio Signal Processors
- Power Amplifiers
By Distribution Channels
- Large Venues and Events
- Educational Institutes
- Government and Military