Evolution of the music production, post-production, and recording equipment industry is driving the demand in the sound reinforcement industry in Europe.
Arizton’s recent research report on the sound reinforcement industry in Europe provides a comprehensive industry study, trend forecasts, and competitive analysis. The study segments the market by products (microphones, pro speakers, audio/sound mixers, audio signal processors, power amplifiers, others), formats (digital and analog), distribution channels (online and retail), and end-user (large venues and events, corporates, educational institutes, government and military, and others).
The sound reinforcement industry in Europe is likely to reach around $3.16 billion by 2024, growing at a CAGR of approximately 3% during 2018–2024.
The growing convergence of Pro AV systems with IoT, the emergence of networked audio technology, the growing adoption of AV systems by educational institutes, and increasing sport events and tournaments are likely to play a significant role in the growth of the sound reinforcement industry in Europe.
Growing Sporting Events and Esportsfueling the Demand for Sound Reinforcement Equipment
Sporting events are a key revenue contributor to the sound reinforcement industry in Europe. These events use sound reinforcement equipment such as microphones, speakers, and amplifiers. Hence, the growth in sporting events worldwide is propelling the sound reinforcement industry. Further, the increasing investment in European football has also boosted the demand for sound reinforcement systems. The esports market has also been witnessing an increase in the number of esports tournaments and events because of its increasing popularity among youngsters worldwide. The increased popularity of esports has fueled the demand for microphones, speakers, and sound amplifiers.
Increasing Demand from Corporate, Government, and Institutions Sectors
The increased adoption of AV equipment in government offices, institutional workplaces, and corporate houses to ease workflow processes is driving the growth of the sound reinforcement industry in Europe. Several educational institutions, corporate offices, and government organizations are using sound equipment for external as well as internal communication. Sound reinforcement systems are gaining dominance in several end-user segments as they provide seamless connectivity and help in clear dissemination of the message. Major vendors are focusing on developing sound systems for broadcasting external and internal communications, which will increase scalability, quality, and interactivity. Such technological innovations will help players gain a major market share in the sound reinforcement industry in Europe during the forecast period.
Growth in Music Production and Recording Equipment Market
The evolution of the music production, post-production, and recording equipment market is driving the demand for sound reinforcement equipment such as microphones, speakers, mixers, and amplifiers significantly. Sound amplification systems and advanced microphones are gaining popularity in the music production and recording equipment market. Leading vendors are introducing microphones with technological enhancements that can improve music production capabilities. The increasing number of music bands, live performances, and concerts will augment the development of the sound reinforcement industry in Europe.
Audio-Technica, Bose, Harman International (Samsung), MUSIC Group, Sennheiser, Shure, Sony, and Yamaha are the leading vendors in the sound reinforcement market.
The complete overview of the latest market research report on the sound reinforcement market by Arizton is now available.
The report 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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