Eastern and Central European countries are witnessing growth in the sound reinforcement market in Europe.
Arizton’s recent research report on the sound reinforcement market in Europe identifies Audio- Technica, Bose, Harman International (Samsung), MUSIC Group (MUSIC Tribe), Sennheiser, Shure, Sony, and Yamaha as the major vendors of the market. The research report provides comprehensive industry study, trend forecasts, and competitive analysis. The study segments the market by products (microphones, pro speakers, audio/sound mixer, audio signal processor, power amplifiers, others), formats (digital and analog), distribution channels (online and retail), and end-users (large venues and events, corporates, educational institutes, government and military, and others).
The sound reinforcement market in Europe is likely to reach around $3.16 billion by 2024, growing at a CAGR of approximately 3% during 2018–2024.
The sound reinforcement market in Europe is divided into four major segments- products, distribution channels, formats, and end-users.
Microphones Market Is Propelled by Upgrades and Replacement of Legacy Systems
The demand for microphones is growing gradually in the sound reinforcement market in Europe. The growth in microphones is mainly propelled by upgrades and replacement of legacy systems in developed markets such as Europe. Technological innovation in the microphone market is generating new opportunities for the vendors in Europe.
As the AV industry is converging with IoT, microphones are increasingly being connected to networks in a way similar to computers and laptops. The increasing proliferation of IoT in the education sector is paving the way for vendors to explore additional sales opportunities as university campuses are becoming smarter.
The market in Europe is growing slowly due to the downward pressure from slow economic growth in many European countries. New demand in Western Europe is low, while upgrades and the replacement are driving the market. However, Eastern and Central European countries such as Russia, Ukraine, Poland, the Czech Republic, and Romania are witnessing growth.
The integration of IoT in business workflow processes is a major driver for Europe Sound reinforcement market
In 2018, the corporate segment dominated the Europe sound reinforcement market in terms of value and unit shipment. The segment is expected to grow due to the growing demand for sound reinforcement and video conferencing solutions among organizations and enterprises during the forecast period. The convergence of IoT and pro AV industry will give rise to sophisticated cabling solutions in the market. The demand for pro AV cables such as PoE is set to rise due to the growing use in the AV/IT domain. Also, the rise in office spaces, geographical expansion of companies, and the integration of IoT in the business workflow process are the major drivers for the growth of the corporate segment in Europe.
Online distribution channel is likely to Gain Traction during the forecast period
An online distribution channel is gaining prominence in the sound reinforcement market in Europe. Customers are shifting from traditional retail stores to online one. Amazon.com, eBay, Alibaba, AliExpress, SoundBroker.com, Americanmusical.com, and Organgeaudio.co.uk are the leading e-commerce players. Moreover, over 95% of online retailers offer sound reinforcement systems at discounted prices rather than list prices that may be applicable in pro audio and electronics stores and other brick-and-mortar distribution channels. Further, online offers also include product bundles at low prices and enable the access of potential consumers to consumer reviews that are lacking in brick-and-mortar distribution formats.
Other prominent vendors are ADK microphones, AEB Industriale (DB TECHNOLOGIES), Alcons Audio, Amadeus, ANSR Audio, Apex Audio, Audioprof, Audio Engineering Associates, Audix microphones, Beijing 797 Audio, Belden, Beyerdynamic, Blue Microphones, Bowers & Wilkins (B&W), BOYA, CAD Audio, Carlson Audio Systems, CELTO Acoustique, CODA Audio, CORDIAL, Dynaudio, d&baudiotechnik/system, Electro-Voice (EV) , Extron Electronics, GTD Audio, HEDD | Heinz Electrodynamic Designs, Hz Sound Systems, inMusic, Klipsch Audio Technologies, K-Array, Lectrosonics, Legrand, Lewitt, Liberty AV, LOUD Audio, MIPRO Electronics, MXL by Marshall Electronics, Nady Systems, OUTLINE, Pan Acoustics, Powersoft Audio, PROEL, Pyle Pro, Samson Technologies, sE Electronics, Southwire Company, Stewart Audio, Vivolink, and Zaxcom.
The complete overview of the latest market research report on the sound reinforcement market in Europe 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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