The Global Pro Speaker Market size is expected to grow from USD 2.07 billion in 2022 to USD 2.92 billion by 2030, at a CAGR of 4.4% during the forecast period (2023-2030).
Market Overview:
A professional speaker, abbreviated as a pro speaker, is an activity as well as a category of high-end, studio-grade audio equipment. Sound recording, sound reinforcement system setup, and audio mixing, as well as studio music production, are typically performed by trained sound engineers, audio engineers, record producers, and audio technicians who work in live event support and recording using mixing consoles, recording equipment, and sound reinforcement systems. Professional audio is distinguished from consumer or home-oriented audio, which is designed for listening in a non-commercial setting.
Top Key Players for Pro Speaker Market:
Bosch, Bose, D&B Audiotechnik, JBL, HARMAN International, MUSIC Group (Music Tribe), Loud Audio,L-Acoustics, Yamaha, Aeb Industriale (Db Technologies),Pan Acoustics,Alcons Audio,Audioprof Group International,Hz Sound Systems,Bowers & Wilkins,B&C Speakers, inMusic Brands, CELTO Acoustique, CODA Audio, Dynaudio, Electro-Voice (EV), Extron Electronics, HEDD (Heinz Electrodynamic Designs), Klipsch Audio Technologies, K-Array, Meyer Sound Laboratories, Nady Systems, OUTLINE, PROEL, Soundcore, Renkus-Heinz, Carlson Audio Systems, Sennheiser and others major players.
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Market Dynamics and Factors for Pro Speaker Market:
Drivers:
Increased Spending on the Entertainment Products
Consumers' increased expenditure on entertainment products around the world aided the growth of the pro speaker’s market over the predicted period. Consumers prefer external sound systems as a source of home entertainment, and they are becoming more aware of the quality of sound they are hearing, leading to a willingness to spend more on sound systems. According to a survey conducted by Dolby Laboratories, consumer spending on home entertainment in the United States would climb by 72 percent in 2020. Because of the growing popularity of mobile devices and changing consumer media consumption habits, the demand for wireless audio equipment is fast increasing.
Opportunities:
Commercial Applications Creates an Opportunity
Commercial applications, such as the use of smart speakers in healthcare facilities, hotels, and businesses, offer a variety of options for integrating smart speakers into daily operations. Smart speakers have a variety of characteristics that can help healthcare providers deliver optimal care to patients by scheduling their meds on an AI platform.
Furthermore, patients in intensive care can use vocal commands to request assistance at any moment, saving time in treatment and perhaps reducing unintentional deaths.Report:
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Segmentation Analysis of the Pro Speaker Market:
By product, the most prevalent product category is point source systems, which account for more than a third of the pro speaker market. Subwoofers and low-frequency devices are the next most demanding devices, followed by line array speakers.
By format, the digital segment is anticipated to hold the maximum pro speaker market share over the forecast period. Not only is there a quality loss when the master tape is printed to vinyl, but the quality also diminishes with each play to the vinyl record.
By Type
- Point Source
- Line Array
- Sub Woofers
- Others
By Format
- Digital
- Analog
By Distribution Channels
- Retail
- Online
By End-Users
- Educational Institutes
- Corporates
- Large Venues & Events
- Government & Military
- Others
Regional Analysis of the Pro Speaker Market:
The most populated area, Asia-Pacific, is a significant emerging market that is predicted to have the highest growth rate in terms of professional speaker sales over the projection period. Countries in Asia-Pacific are stepping up their efforts to improve their IT infrastructures, allowing commercial users to embrace cutting-edge technologies such as professional speakers. In addition, the region has become the fastest-growing market for smart education solutions.
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
In January 2022, the new JBL PartyBox Encore is the latest addition to JBL's PartyBox speaker line. The portable party speaker is supposed to produce 100W of music and is splash-proof to IPX4 standards.
In October 2021, In India, Soundcore Select Pro made its debut. The portable's 6,700mAh battery allows for a total playback length of up to 16 hours. It boasts a total output of up to 30W, two bespoke drivers, four passive radiators, as well as the company's BassUp Technology. Anker's Soundcore Select Pro boasts an IPX7 water-resistant rating and is supposed to be submersible. The portable speaker's LED lights "blink and dance" in response to the music being played. The Soundcore portable speaker uses Bluetooth v5 to connect to any device.
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