Award winning market research company Fact.MR has recently published a report on the global loudspeaker market. As per its analysis, the market is expected to yield credible gains through 2021 and beyond, largely underpinned by an increasing tilt towards investments in advanced acoustic systems across residential and commercial settings. An impressive growth rate has been projected throughout the 2021-2031 forecast period.
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Over the years, the market has made massive gains, as deepening digital literacy has enabled greater access to laptops, tablets, and smart television sets. This is inclining demand for outdoor entertainment setting-like experiences within the home environment. For instance, popular estimates suggest that, the smart speaker systems market across India reached nearly US$ 64 million in 2020. Similarly, bright prospects are on the cards for the U.S., German, and U.K. markets.
With future entertainment trends making a paradigm shift as people prefer to organize events and performances across residential settings amid heightened convenience and cautiousness levels, prominent loudspeaker manufacturers are making significant strides to ensure the availability of the most sophisticated and state-of-the-art product offerings.
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Key Takeaways from Market Study
- By speaker type, preference for soundbars to remain high, attributed to portability benefits
- Home entertainment to account for bulk of all loudspeaker sales, fueled by surging income levels
- Growing popularity of smart speakers to bolster U.S. loudspeaker market revenue
- The U.K. experiencing high sales amid increasing deployment of emergency vehicle fleets
- Swelling music industry to heighten loudspeaker sales across Germany
- High demand across the automotive segment to enhance loudspeaker sales in India
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Key Market Segments Covered
- Speaker Type
- Satellite Speakers
- Wall-mounted Speakers
- Outdoor Speakers
- Multimedia Speakers
- Home Entertainment
- North America (US and Canada)
- Latin America (Brazil, Mexico, Argentina and Rest of LATAM)
- Europe (UK, Germany, France, Spain, Italy and Rest of Europe)
- Asia Pacific (India, ASEAN, China, Japan, Australia & New Zealand and Rest of APAC)
- Middle East & Africa (GCC, South Africa and Rest of MEA)
Crucial insights in the Loudspeaker Market research:
- Underlying macro- and microeconomic factors impacting the growth of the Loudspeaker Market Basic overview of the Loudspeaker Market including market definition, classification, and applications.
- Scrutinization of each Loudspeaker Market player based on mergers & acquisitions, R&D projects, and product launches.
- Adoption trend of Loudspeaker Market across various industries.
- Important regions and countries offering lucrative opportunities to Loudspeaker Market stakeholders.
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