Growing convergence of Pro AV and IoT likely to boost the global pro speakers market growth.
Arizton’s recent market research report on the global pro speakers market provides comprehensive industry analysis, trend forecasts, and the competitive landscape. The research study segments the market by product types (line array systems, point source systems, subwoofers, and other types), formats (digital and analog), end-users (corporates, large venues and events, educational institutes, government and military, studio and broadcasting, hospitality, and others), distribution channels (retail and online), and geography (North America, APAC, Europe, Latin America, and MEA).
The global pro speakers market is expected to reach around $2 billion, growing at a CAGR approximately 3% during 2018−2024.
The growing convergence of Pro AV and IoT, the increasing adoption of pro speakers by educational institutes, corporates, and government institutes,the growing live performances and the rise of the music industry, and the emergence of networked audio technology are propelling the global pro speakers market.
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Growing Convergence of Pro AV and IoT
The AV industry is witnessing a shift from the analog to digital mode, and Internet of Things(IoT) is playing an important role. IoT uses multiple technologies such as New IP standards (IPv16), wireless alternatives (WiDi, WHDI, WiGig, and wireless HDI), and supporting network essentials (PoE). Leading AV solutions vendors are exploring means to use IoT in order to streamline manufacturing processes and SPM (supply chain management) and deliver more personalized customer experience.
Increased Demand from Corporate, Government, and Public Institutions
The global pro speakers market is witnessing demand from corporates, government, and public institutions. Corporates are using several sound reinforcement equipment such as pro speakers, microphones, and video conferencing systems. They are used for internal as well as external communication. The demand for pro AV solutions is also increasing in government offices. They are replacing old systems with those ones that are capable of reaching to a large audience while retaining the quality. The rise in conferences and seminars organized by government organizations has pushed toward digitization, thereby fueling the demand for modern pro AV systems, hence driving the global pro speakers market.
Emergence of Networked Audio Technology
Audio networked technology involves digital audio distribution using Cat5 and Cat6 ethernet connectivity. Audio networking offers several major benefits over analog systems such as improved audio quality, reduced cabling and installation, improved flexibility, the convergence of data, voice, and audio networks. It has eliminated the tiresome process of developing new hardware required for the transportation of multiple digital audio channels. The Ethernet or fiber optic cables also enable the transmission of several signals, including multiple audio sources, data, voice, and audio over the same cable, thereby improving the scalability at a significantly low cost.
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Bose, D&B AUDIOTECHNIK, HARMAN International (SAMSUNG), MUSIC Group (MUSIC Tribe), Loud Audio, L-Acoustics, and Yamaha are the leading vendors in the global pro speakers market.
The complete overview of the latest market research report on the global pro speakers market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and provides market sizing and forecast for major geographical regions and key countries.
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