Sound Reinforcement Market : Industry Trends and Technology Update Global Forecast to 2024

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MarketsandMarkets Presents
Sound Reinforcement Market by Product Type
(Microphones, Professional Speakers, Audio
Mixers, Power Amplifiers), Format (Digital,
Analog), End User (Corporate, Education, Large
Venue Events, Hospitality), Geography - Global
Forecast to 2024 The sound reinforcement market
is projected to reach USD 8.5 billion by 2024,
from USD 7.3 billion in 2019 it is expected to
grow at a CAGR of 3.2 from 2019 to 2024
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MarketsandMarkets Presents
The corporate segment of the sound reinforcement
market is projected to grow at the highest CAGR
from 2019 to 2024. In the corporate sector, most
of the modern boardrooms/conference rooms/huddle
rooms are adopting audio-visual technology to
enable improved collaboration and productive
meetings by ensuring smooth communication between
the speaker and the audience. Download PDF
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wnloadNew.asp?id224304067 Moreover, the
requirement for introducing and promoting
e-learning programs to enhance skill development
in the corporate sector is also driving the
growth of the corporate segment of the sound
reinforcement market.
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MarketsandMarkets Presents
The professional speakers segment to hold the
largest size of the sound reinforcement market
from 2019 to 2024. The use of professional
speakers in sound reinforcement systems is
gaining popularity globally owing to rise in the
number of live concerts and outdoor events.
Advancements in professional audio visual
technologies are changing the business of
organizing music events in a significant way. The
global live concert industry is expected to
experience significant growth during the next few
years. Sound amplification systems and advanced
speakers are gaining immense traction worldwide
owing to their use in large venues and concerts
for communicating with a large base of audiences
or fans. Thus, the growing demand for
high-quality music, especially in outdoor events
such as concerts and shows, is expected to drive
the growth of the professional speakers segment
of the sound reinforcement market.
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MarketsandMarkets Presents
The sound reinforcement market in APAC is
expected to witness rapid growth during the
forecast period. Moreover, the rise in demand
for sound reinforcement systems from several end
users such as commercial real estate,
hospitality, corporate, and music from countries
such as China, Japan, and India is also fueling
the growth of the market in APAC. Moreover, the
shifting consumer preference for live music
concerts and exhibitions in emerging economies is
also contributing to the growth of the sound
reinforcement market in APAC.
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MarketsandMarkets Presents
Major players in the sound reinforcement market
Audio-Technica (Japan), Bose (US), HARMAN (US),
MUSIC Group (Philippines), SENNHEISER (Germany),
SHURE (US), Sony (Japan), Yamaha (Japan), CODA
Audio (Germany), and Audix Microphone (US).
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MarketsandMarkets Presents
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