World Loudspeakers Market to Reach US$ 4.2 Billion by 2010, According to New Report by Global Industry Analysts, Inc.
Driven by the lifestyle induced popularity of audio and video entertainment, the world market for loudspeakers is projected to reach US$ 4.2 billion by the year 2010. Currently underway in the global market is a revolutionary design transformation from the traditional boxy models of the yesteryears to flattened, smaller, and compact speakers. Convergence of movies, music and games into one integrated entertainment platform, and the development of MP4 and other digitally compressed music formats, are helping drive the popularity of PC multimedia, home theater systems and portable iPod speakers, to new heights.
San Jose, California (PRWEB) July 16, 2007 -- Contemporary lifestyles play an instrumental role in shaping both speaker design criterions, and demand for loudspeakers. Consumer preferences for speaker design, and features has been changing with the passage of time, and today the trend is towards high-fidelity audio speakers which are also sleek, unobtrusive, and visually appealing in design, and styled to blend gracefully with the décor of modern contemporary homes.
Manufacturers are investing top dollars in developing sleeker, elegant and smoother designs with contoured edges, textures, and colors, since thoughtfully, and artistically designed speakers command a higher price in the marketplace, given the changing image of speakers from just a sound reproducing device into an object of fine art. Changing consumer preferences have also brought loudspeakers with additional doses of amplification into the spotlight. The trend is a fallout of consumers' increasing demand for power and sound. Digitally amplified speakers, which provide high fidelity audio effects including sincere reproduction of the beefy, low-pitched thud of super-low bass signals/frequencies, are attracting immense attention. This need for fully augmented audio systems is lending increased demand traction to the subwoofers market.
With PCs rapidly becoming an extension of home stereo systems, demand for PC multimedia speakers is on the roll. Creating additional torque in demand is the growth in the PC gaming industry, which is directly translating into lucrative opportunities for the multimedia speakers market. Launch of video gaming platforms, such as Sony's PlayStation2 is working up quite a lather in the multimedia speakers market with product categories such as portable external PC speakers, laptop multimedia speakers, new generation iPod speakers, and AC-powered laptop/PC desktop speaker systems standing to gain immensely in the upcoming years. Extremely bullish outlook characterizes the satellite/subwoofer speakers market. Key factors turbo charging growth in this market include widespread use of home theater systems, growing importance of voice-matched speakers for a realistic sound reproduction, and the rising indispensability of multi-channel audio speaker components.
Unit sales of loudspeakers, in the world market, are expected to rise by 2,303 thousand units between the period 2007 to 2010. In Europe, the largest market, growth is expected to tame down to 2.5% over the analysis period of 2000 to 2010, while in Asia-Pacific, the second largest market, sales are projected to reach 3.67 million units by 2010. Growth in the global loudspeakers market is driven by multimedia speakers, subwoofer speakers, and satellite/subwoofer speakers.
The multimedia speakers market is dominated by Europe with a share of 39%, followed by the United States. By the year 2010, sales of multimedia speakers in Europe and United States together is projected to reach US$ 361 million. Subwoofer speakers market is expected to rise by 820.3 thousand units between the period 2007 to 2010 to reach a market value of US$ 1.0 billion by the close of the year 2010. Driven by 6-piece speakers, world satellite/subwoofer speakers market stands poised to clock a CAGR of 6.7% over the analysis period, with strong growth emanating from Asia-Pacific, North America, and Europe, in that order.
Leading global and regional players operating in the industry include Audiovox Corporation, Bose Corporation, B&W Group Ltd, Boston Acoustics, Inc., Directed Electronics Inc, Cerwin -Vega, Inc., Harman International Industries, Inc, KLH Audio Systems, Klipsch Group, Inc, Audio Products International (API), Jamo International, Plantronics, Inc., Scandyna International, SpeakerCraft, Inc., Velodyne Acoustics, Inc., Opera Loudspeakers, German Physiks, and Final Laboratory, among others.
The report titled "Loudspeakers: A Global Strategic Business Report" provides a comprehensive review of technology trends, product/consumer trends, retailing trends, market drivers, issues, and challenges. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key product segments. The report additionally provides rich statistical findings and anecdotes on players, their products, and market shares. Product markets analyzed in the report include Pair Speakers, Satellite/Subwoofer Speakers including (3-Piece Speakers, and 6-Piece Speakers), Subwoofer Speakers, In-wall Speakers, Outdoor Speakers, and Multimedia Speakers. Latent demand patterns in product markets are quantified across major geographic market verticals including the United States, Canada, Japan, France, Germany, United Kingdom, Italy, and Asia-Pacific. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.
For more details about this research report, please visit www.strategyr.com/MCP-1224.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site www.StrategyR.com
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