Global Loudspeakers Market to Reach US$4.5 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

Global Loudspeakers Market to Reach US$ 4.5 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

San Jose, California (PRWEB) November 08, 2011

Follow us on LinkedIn – Speakers have long been perceived as the most crucial components of any audio system, since the quality of sound reproduced is solely contingent on the technological sophistication of the speaker system. Consumer preferences for speaker design, and features has been changing with the passage of time, and traditionally huge and boxy speakers have been replaced by sleek, and relatively compact in-wall and in-ceiling speakers. Loudspeaker technology has also successfully traversed the wide and treacherous chasm between bipolar, dipolar, and omnidirectional sound reproduction. The aesthetic appeal of loudspeakers is increasingly gaining preeminence in the marketplace as consumers look for sophisticated designs and cabinets together with the quality of sound. Sleek, unobtrusive, visually appealing designs which fit gracefully into modern contemporary homes is an important design criterion, which has taken manufacturers by their ears. Additionally, loudspeakers with additional doses of amplification are making their appearance in the marketplace to meet the consumer’s growing demand for power and sound.

The 2007-2009 world economic recession that brought down most industries across the world impacted the market for loudspeakers also. Demand declined as consumer electronics, especially the home entertainment sector withered under the heat of the recession. Shifting consumer focus towards value for money bargains and shifting preferences for low cost brands, also resulted in exerting pressure on dollar sales. The pricing pressures also brought down profit margins for market participants. However, the market in the year 2011 is already showing signs of recovery with improvements in the financial scenario pushing the market’s inherent growth fundamentals back into fore. As a result of recession, changes in spending habits have created a shift in preferences towards spending on in-home entertainment away from spending on out-of-home entertainment.

An offshoot of the larger homeward bound cocooning trend, the number of hours spent on watching television, home movies, playing video games have risen drastically over the past year or two. In line with the scenario, of late, average household expenditures on electronic audio and visual equipment have risen. Interestingly, the recession has played an instrumental role in accelerating the trend further. Lower disposable incomes led consumers to watch more movies at home rather than venture out to expensive theaters/multiplexes and/or spend on vacations, dining out, among others. The propensity to spend more on at-home luxuries such as home theater system, electronic audio/visual equipment therefore comes as no surprise. With consumers aspiring to enjoy high-definition, cinematographic experience from the comfort of their home its opportunities galore for audio technologies that complement the home movie experience. Radical change in speaker design and migration from traditional large models to compact and flattened speakers will remain key trends in the post recession period.

As stated by the new market research report on Loudspeakers, Europe and Asia-Pacific together account for a major share of the global market. Segment wise, Multimedia Speakers is expected to register fastest growth to the tune of 5.58%, over the analysis period. PC multimedia speakers are in high demand with the increasing popularity of PCs as extended home stereo system. Expansion of PC gaming industry is also enhancing opportunities for the market of multimedia speakers.

Leading players operating in the industry include Altec Lansing, Audiovox Corporation, Bose Corporation, Boston Acoustics Inc., B&W Group Ltd., Cambridge Sound Works Inc., Creative Labs Inc, Directed Electronics Inc., Harman International Industries Inc., KLH Audio Systems, Klipsch Group Inc., SpeakerCraft Inc., Sonance, Velodyne Acoustics Inc., Yamaha Corporation of America, among others.

The research report titled “Loudspeakers: A Global Strategic Business Report” announced by Global Industry Analysts, Inc. provides a comprehensive review of technology trends, product/consumer trends, mergers & acquisitions, and other strategic industry activities. The report analyzes market data and provides analytics in both value (US$ ) and volume (000 units) for major geographic markets such as United States, Canada, Japan, France, Germany, United Kingdom, Italy, and Asia-Pacific, and rest of world. Market estimates/projections are provided for product segments including Pair Speakers, Satellite/Subwoofer Speakers (3-Piece Speakers and 6-Piece Speakers), Subwoofer Speakers, In-Wall Speakers, Outdoor Speakers, and Multimedia Speakers.

For more details about this comprehensive market research report, please visit –

http://www.strategyr.com/Loudspeakers_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.

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