A majority of the pro speaker market revenue comes through retail distribution channels
Arizton’s recent market research report on the global pro speaker market identifies Bose, d&b audiotechnik, HARMAN International (Samsung), MUSIC Group (MUSIC Tribe), Loud Audio, L-Acoustics, and Yamaha as the leading vendors that are likely to dominate the global pro speaker market during the forecast period. The study includes insights on segmentation based on product types (line array systems, point source systems, subwoofers, and other type), 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 geographies (North America, APAC, Europe, Latin America, and MEA).
The global pro speaker market is likely to reach around $2 billion, growing at a CAGR approximately 3% during 2018−2024.
Cost-effectiveness and high-quality sound are paving way for line array speaker growth
The global pro speaker market is experiencing a swift transition from the conventional point source speaker to line array speaker. Point source speaker/point-and-shoot loudspeakers are suitable for small events. Cost-effectiveness and coherence are the primary reasons for the accelerated growth of these speakers. However, they have a limited projection and suffer inconsistency in the listening experience.
Line array speakers, on the contrary, are the most preferred choice for the large touring production. They prevent sound leaking onto stages, thereby resulting in the decreased level of sound regeneration through open microphones on the stage. This feature makes these speakers a perfect pick for music events and large venues.
The market share of retail and online stores is expected to increase in the global pro speaker market during the forecast period
The retail medium is the most viable distribution channel for pro speakers. A majority of the revenue comes through retail distribution channels such as AV system integrators, pro-AV and electronics stores, and pro AV dealers and distributors. The channel offers consultation services to end-users and acts as intermediaries between end-users and OEMs. The availability of after service option has made the retail sector as one of the most trusted channels in the global pro speaker market.
For instance, Sky A/V Pro and Scharff Weisberg are dealers of Yamaha in New York, US.
Anixter is a leading distributor of Belden and other OEMs.
With the penetration of internet, e-commerce websites are also showcasing speakers for sale. In the coming years, retail and online stores are expected to drive the global pro speaker market.
The complete overview of the latest market research report on the global pro speaker market by Arizton is now available.
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