Amazon.com, eBay, SoundBroker.com, and Americanmusical.com are among the few online retailers operating in the sound reinforcement market in the US.
Arizton’s recent research report on the sound reinforcement market in the US identifies Audio-Technica, Bose, HARMAN International, MUSIC Group (Music Tribe), Sennheiser Electronic, Shure, Sony, and Yamaha. This research report provides a detailed analysis of market segmentation 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-user (large venues and events, corporates, educational institutes, government and military, and others).
The sound reinforcement market in the US 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 the US is divided into four major segments - products, distribution channels, formats, and end-users.
New Demand for Microphones is mainly Concentrated in Developing Market
Microphones have gained prominence in the sound reinforcement market in the US and are expected to grow at a CAGR of around 2.5% during the forecast period. Microphones are widely used during concerts, musical events, sporting tournaments, and broadcasting studios. The growth in the microphone industry is propelled by upgrades and replacements of the legacy system. New demand for microphones is mainly concentrated in developing markets where economies are flourishing, and the vertical market is growing at a steady rate. Further, vendors are also exploring ways to implement IoT and AV technology in microphones, which allows the user to operate microphones from remote locations. 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 smart. For instance, in 2014, Taylor University located in Indiana, US invested in Shure ULX-D digital wireless system for campus audio requirements.
The growth in online sales is set to increase by over 10% YOY during the forecast period
Sound reinforcement equipment are sold in the US market through two major distribution channels: Retail and online. A majority of the revenue comes from retail distribution channels such as pro-AV and electronics stores and pro AV dealers and distributors. Sound reinforcement equipment producers harness retail stores due to personalized customer services. A significant share of product distribution takes place through conventional pro audio and electronics stores/outlets. However, the e-commerce sector is emerging as a major platform for the sale of sound reinforcement systems in the US. The online sale contributed 12.77% to the overall revenue to the US market in 2018.
The trend of selling sound reinforcement products online is growing due to the increasing internet penetration, the availability of high discounts, and access to consumer reviews. The online distribution segment is likely to increase during the forecast period. Amazon.com, eBay, SoundBroker.com, and Americanmusical.com are a few examples of online sound reinforcement equipment retailers operating at the regional level. The growth in online sales is set to increase by over 10% YOY during the forecast period.
The corporate sector to continue as the largest end-user in the sound reinforcement market in the US during the forecast period
The corporate sector is expected to continue as 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 the integration of IoT in the business workflow process are 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 in organizations during the forecast period.
Other prominent vendors are ADK microphones, AEB Industriale (DB TECHNOLOGIES), Alcons Audio, 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 the US 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.
Arizton – Advisory and Intelligence is an innovative and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
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