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. The growth of the sound reinforcement market can be attributed to the growing incorporation of IoT and audio-visual technologies into professional audio-video devices and the increasing demand for professional audio devices from corporate and educational institutions.
The microphones segment of the sound reinforcement market is projected to grow at the highest CAGR during the forecast period.
The increased use of sound reinforcement microphones in sports tournaments, educational institutions, and corporate setups is likely to drive the growth of the microphones segment of the market from 2019 to 2024. Increasing investments in the entertainment industry for the deployment of large sets of professional recording microphones are also fueling the growth of this segment of the market. Additionally, increasing demand for wireless microphone technology, coupled with the rising demand for high-quality audio output, is also driving the growth of the microphones segment of the sound reinforcement market.
The digital segment of the sound reinforcement market is projected to account for a larger size during the forecast period than the analog segment.
Based on format, the sound reinforcement market has been divided into digital and analog. The digital segment is projected to account for a larger size of the market from 2019 to 2014 as compared to the analog segment. Digital sound systems have less sensitivity to electromagnetic interference. They have an increased power supply rejection ratio (PSRR), which simplifies their design and brings improvement in the audio quality. Increasing number of connected devices and rising number of Internet users worldwide is expected to drive the growth of the digital segment of the market during the forecast period.
The sound reinforcement market in APAC is projected to grow at the highest CAGR from 2019 to 2024.
Countries such as China, India, Japan, and Australia are major contributors to the growth of the sound reinforcement market in APAC. These countries are expected to witness increased demand for sound reinforcement systems owing to initiatives undertaken by their governments to encourage the digitalization of various systems. 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 market in APAC.
Key Market Players
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) are among the major players operating in the sound reinforcement market.
SENNHEISER (Germany) offers a wide portfolio of professional microphones for a range of applications. The company is one of the pioneers in the market. It is one of the worlds leading manufacturers of headphones, loudspeakers, microphones, and wireless transmission systems. SENNHEISER offers sound reinforcement systems under its professional division, which contributed approximately 48% to its overall business revenue in 2018. The company focuses on expanding its product portfolio under its professional division. Through this division, SENNHEISER continues to focus on wireless microphone technology and intelligent solutions for use in meetings and conferences. The wireless audio products of the company are used in sports, home and domestic, gaming, travel, and commercial applications.
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Scope of the Report
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Report Metric |
Detail |
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Market size availability years |
20162024 |
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Base year |
2018 |
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Forecast period |
20192024 |
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Forecast units |
Value in USD million/billion |
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Segments covered |
Product type, format, end user, and geography |
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Regions covered |
North America, APAC, Europe, and RoW |
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Companies covered |
Audio-Technica (Japan), Bose (US), HARMAN (US), MUSIC Group (Philippines), SENNHEISER (Germany), SHURE (US), Sony (Japan), Yamaha (Japan), CODA Audio (Germany), Audix Microphone (US), Saramonic International (China), Electro-Voice (US), Apex Audio (Belgium), Wharfedale Pro (UK), Dynaudio (Denmark), Samson Technologies (US), Beyerdynamic (Germany), MIPRO Electronics (Taiwan), Yorkville Sound (Canada), and QSC, LLC (US) |
Sound Reinforcement Market Segmentation:
The sound reinforcement market has been segmented based on product type, format, end user, and geography.
Sound Reinforcement Market, by Product Type
- Microphones
- Professional Speakers
- Audio Sound Mixers
- Audio Signal Processors
- Power Amplifiers
- Others (Cables and Audio Networking)
Sound Reinforcement Market, by Format
- Digital
- Analog
Sound Reinforcement Market, by End User
- Corporate
- Large venues & Events
- Educational Institutions
- Government
- Studio & Broadcasting
- Hospitality
- Others
Recent Developments
- In February 2019, SENNHEISER announced the launch of a new SK 6212 mini-bodypack transmitter as a part of its Digital 6000 wireless microphone series. This lightweight and spectrum-efficient mini-transmitter offers rock-solid digital transmission with high-quality audio. It is designed for use in multi-channel audio applications in the fields of broadcasting, (musical) theater, and live audio. This transmitter is also an ideal choice for corporate, education, and presentation applications.
- In February 2019, Bose Professional launched DesignMax loudspeakers, which offer the flexibility and style for delivering outstanding audio and aesthetics for any commercial space.
- In June 2019, HARMAN Professional partnered with SoundHound Inc, a leading innovator in voice-enabled AI and conversational intelligence technologies, to introduce voice-enabled solutions for the hospitality industry.
Critical Questions the Report Answers:
- Where are all these developments expected to take the industry in the mid- and long-term?
- What are the different products that are expected to drive the demand for sound reinforcement systems during the forecast period?
- Which are the key strategies adopted by leading companies in the sound reinforcement market?
- What are the trends prevalent in the market?
- Which end users are expected to drive the growth of the market in the next 5 years?
Frequently Asked Questions (FAQ):
Which are the key strategies adopted by leading companies in the sound reinforcement market?
The sound reinforcement market is competitive due to the presence of various well-established global and domestic market players. This segment studies the growth strategies adopted by the market players from 2017 to 2019. Players in this market adopted various strategies to expand their global presence and increase their market shares. Product launches and developments is one of the major strategy adopted by these players to grow in the sound reinforcement market.
What are the trends prevalent in the market?
Increasing penetration of IoT in professional audio-visual equipment or AV business and increasing demand from corporate, educational, and government institutions are the major factors driving the growth of this market. Acoustical challenges related to improper transducer placement is a major challenge faced by players in the market. An increasing number of concerts and live performances, along with sports events and tournaments, are expected to create new opportunities for the sound reinforcement market.
What are the different products that are expected to drive the demand for sound reinforcement systems during the forecast period?
A basic sound reinforcement system consists of an input device (microphone), a control device (mixer), an amplification device (power amplifier), and an output device (loudspeaker). Microphones expected to grow at highest CAGR during the forecast period in sound reinforcement market. Increasing traction of wireless microphone technology coupled with the boosted demands for high-quality audio outputs is driving the microphone market.
Which end users are expected to drive the growth of the market in the next 5 years?
The market for the corporate sector is expected to grow at the highest CAGR during the forecast period. In the corporate sector, most of the modern boardrooms/conference rooms/huddle rooms are adopting audiovisual technology, which helps in improved collaboration, productive meetings, and enable smooth communication between speaker and audience. Moreover, the introduction and promotion of e-learning programs to enhance the skills of the staff in the corporate sector are driving the growth of the sound reinforcement market.
Who are the leading vendors operating in this market?
Harman (US), Bose (US), Shure (US), Sony (Japan), Sennheiser (Germany), Music Tribe (Philippines) and Audio Technica (Japan) are some of the major vendors operating in this market.
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Table of Contents
1 Introduction (Page No. - 15)
1.1 Study Objectives
1.2 Market Definition and Scope
1.3 Inclusions and Exclusions
1.4 Study Scope
1.4.1 Markets Covered
1.4.2 Geographic Scope
1.5 Years Considered
1.6 Currency
1.7 Stakeholders
2 Research Methodology (Page No. - 19)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
2.5 Study Limitations
3 Executive Summary (Page No. - 27)
4 Premium Insights (Page No. - 31)
4.1 Attractive Opportunities in Sound Reinforcement Market
4.2 Market for Professional Speaker, By End User (USD Million)
4.3 Sound Reinforcement for Corporate Sector, By Product (USD Million)
4.4 Sound Reinforcement, By Product Type
4.5 Sound Reinforcement Market in APAC
4.6 Market, By Geography
5 Market Overview (Page No. - 34)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Penetration of IoT in Professional AV Equipment Or AV Business
5.2.1.2 Increasing Demand From Corporate, Educational, and Government Sectors
5.2.2 Restraints
5.2.2.1 Compliance Issues in Operating Frequencies for Wireless Microphones
5.2.3 Opportunities
5.2.3.1 Increasing Number of Concerts and Live Performances
5.2.3.2 Increasing Number of Sports Events and Tournaments
5.2.4 Challengess
5.2.4.1 Issues in Delivering High-Quality Audio Due to Improper Placement of Wireless Sound Reinforcement Equipment
6 Market, By Product Type (Page No. - 39)
6.1 Introduction
6.2 Microphones
6.2.1 Increased Use of Sound Reinforcement Microphones in Sports Tournaments, Educational Institutes, and Corporate Setups
6.3 Professional Loudspeaker
6.3.1 Rising Demand for High-Quality Music, for Outdoor Events
6.4 Audio Mixer
6.4.1 Shift From Analog to Digital Technologies Augmenting the Growth of Audio Mixers
6.5 Power Amplifier
6.5.1 Increasing Use of Audio Power Amplifiers in Broadcasting Studios, Nightclubs, DJS, Theatres, and Concert Halls
6.6 Signal Processor
6.6.1 Rapid Increase in Demand for Wireless Audio Systems
6.7 Others
7 Market, By Format (Page No. - 48)
7.1 Introduction
7.2 Analog Audio
7.2.1 Microphones Expected to Grow at Highest CAGR for Analog Segment
7.3 Digital Audio
7.3.1 Growing Trend of Wireless Systems Drive Growth of Sound Reinforcement Market
8 Market, By End User (Page No. - 50)
8.1 Introduction
8.2 Corporate
8.2.1 Integration of IoT in Business Workflow Processes
8.3 Large Events & Venues
8.3.1 Increasing Number of Live Performances and Music Concerts
8.4 Educational Institutions
8.4.1 Increasing Trend of Smart Campuses
8.5 Government Offices
8.5.1 Growing Digitalism Worldwide Drives the Demand for Sound Reinforcement Systems.
8.6 Studio and Broadcasting
8.6.1 Rising Trend of Online Video Blogging and Live Broadcasting
8.7 Hospitality
8.7.1 Rapidly Changing Business Needs Allows Hotels Or Resorts to Accommodate Different Type of Events
8.8 Others
9 Geographic Analysis (Page No. - 67)
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Strong Economic Condition in US Owing to Commercial Verticals
9.2.2 Canada
9.2.2.1 Strong Education Sector in Canada Contributes to Growth of Market
9.2.3 Mexico
9.2.3.1 High Presence of Electronic A/V Product Manufacturers Offer Growth Opportunities in Mexico
9.3 Europe
9.3.1 Germany
9.3.1.1 Germanys Strong Corporate and Educational Industry Driving Overall Market
9.3.2 UK
9.3.2.1 Presence Educational Institutions Make UK A Hotbed for Adoption of Sound Reinforcement Systems
9.3.3 France
9.3.3.1 Robust Audio-Video Market Offers Significant Opportunities for Investment and Growth
9.3.4 Italy
9.3.4.1 Growing Sports and Entertainment Events
9.3.5 RoE
9.4 APAC
9.4.1 China
9.4.1.1 Growth of the Smart Office/Corporate Sector
9.4.2 Japan
9.4.2.1 Rapid Growth of Commercial Sector, Concerts, and Events
9.4.3 India
9.4.3.1 Government Initiatives for Promoting Smart Education and Learning
9.4.4 RoAPAC
9.5 RoW
9.5.1 Middle East & Africa
9.5.1.1 Rise in the Commercial Sector Such as Corporate Spaces and Hospitality Sector
9.5.2 South America
9.5.2.1 Increase in Industrialization and Influx of Professional Audio Electronics Providing Significant Growth Opportunities
10 Competitive Landscape (Page No. - 84)
10.1 Introduction
10.2 Market Ranking Analysis: Sound Reinforcement Market
10.3 Competitive Situations and Trends
10.3.1 Product Launches and Developments
10.3.2 Partnerships & Collaborations
10.3.3 Expansion
10.3.4 Acquisitions
10.4 Competitive Leadership Mapping
10.4.1 Visionary Leaders
10.4.2 Innovators
10.4.3 Dynamic Differentiators
10.4.4 Emerging Companies
11 Company Profiles (Page No. - 90)
11.1 Key Players
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
11.1.1 Sennheiser
11.1.2 Sony
11.1.3 Bose
11.1.4 Harman
11.1.5 Yamaha
11.1.6 Audio-Technica
11.1.7 Shure
11.1.8 Music Tribe
11.1.9 Audix Microphones
11.1.10 Coda Audio
* Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
11.2 Right-To-Win
11.3 Other Key Companies
11.3.1 Electro-Voice
11.3.2 Lewitt
11.3.3 Wharfedale Pro (Iag Group LTD.)
11.3.4 Dynaudio
11.3.5 Saramonic International
11.3.6 Samson Technologies
11.3.7 Beyerdynamic
11.3.8 Mipro Electronics
11.3.9 Yorkville Sound
11.3.10 Qsc, LLC
12 Appendix (Page No. - 122)
12.1 Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets Subscription Portal
12.4 Available Customizations
12.5 Related Reports
12.6 Author Details
List of Tables (96 Tables)
Table 1 Sound Reinforcement Market, By Product Type, 20172024 (USD Million)
Table 2 Market for Microphones, By Format, 20172024 (USD Million)
Table 3 Market for Microphones, By End User, 20172024 (USD Million)
Table 4 Market for Microphones, By Region, 20172024 (USD Million)
Table 5 Market for Professional Speakers, By End User, 20172024 (USD Million)
Table 6 Market for Professional Speakers, By Format, 20172024 (USD Million)
Table 7 Market for Professional Speakers, By Region, 20172024 (USD Million)
Table 8 Market for Audio Sound Mixers, By Format, 20172024 (USD Million)
Table 9 Market for Audio Mixers, By End User, 20172024 (USD Million)
Table 10 Market for Audio Mixers, By Region, 20172024 (USD Million)
Table 11 Market for Power Amplifier, By Format, 20172024 (USD Million)
Table 12 Market for Power Amplifier, By End User, 20172024 (USD Million)
Table 13 Market for Power Amplifier, By Region, 20172024 (USD Million)
Table 14 Market for Audio Signal Processors, By Format, 20172024 (USD Million)
Table 15 Market for Audio Signal Processors, By Region, 20172024 (USD Million)
Table 16 Market for Audio Signal Processors, By End User, 20172024 (USD Million)
Table 17 Market for Others, By Format, 20172024 (USD Million)
Table 18 Market for Others, By End User, 20172024 (USD Million)
Table 19 Market for Others, By Region, 20172024 (USD Million)
Table 20 Market, By Format, 20172024 (USD Million)
Table 21 Analog Market, By Product Type, 20172024 (USD Million)
Table 22 Digital Market, By Product Type, 20172024 (USD Million)
Table 23 Market, By End User, 20172024 (USD Million)
Table 24 Market for Corporate, By Product Type, 20172024 (USD Million)
Table 25 Market for Corporate, By Region, 20172024 (USD Million)
Table 26 Market for Corporate, By North American Countries, 20172024 (USD Million)
Table 27 Market for Corporate, By European Countries, 20172024 (USD Million)
Table 28 Market for Corporate, By APAC Countries, 20172024 (USD Million)
Table 29 Market for Corporate, By RoW, 20172024 (USD Million)
Table 30 Market for Large Venues & Events, By Product Type, 20172024 (USD Million)
Table 31 Market for Large Venues & Events, By Region, 20172024 (USD Million)
Table 32 Market for Large Venues & Events, By North American Countries, 20172024 (USD Million)
Table 33 Market for Large Venues & Events, By European Countries, 20172024 (USD Million)
Table 34 Market for Large Venues & Events, By APAC Countries, 20172024 (USD Million)
Table 35 Market for Large Venues & Events, By RoW, 20172024 (USD Million)
Table 36 Market for Educational Institutions, By Product Type, 20172024 (USD Million)
Table 37 Market for Educational Institutions, By Region, 20172024 (USD Million)
Table 38 Market for Educational Institutions, By North American Countries, 20172024 (USD Million)
Table 39 Market for Educational Institutions, By European Countries, 20172024 (USD Million)
Table 40 Market for Educational Institutions, By APAC Countries, 20172024 (USD Million)
Table 41 Market for Educational Institutions, By RoW Region, 20172024 (USD Million)
Table 42 Market for Government, By Product Type, 20172024 (USD Million)
Table 43 Market for Government, By Region, 20172024 (USD Million)
Table 44 Market for Government, By North American Countries, 20172024 (USD Million)
Table 45 Market for Government, By European Countries, 20172024 (USD Million)
Table 46 Market for Government, By APAC Countries, 20172024 (USD Million)
Table 47 Market for Government, By RoW, 20172024 (USD Million)
Table 48 Market for Studio & Broadcasting, By Product Type, 20172024 (USD Million)
Table 49 Market for Studio & Broadcasting, By Region, 20172024 (USD Million)
Table 50 Market for Studio & Broadcasting, By North American Countries, 20172024 (USD Million)
Table 51 Market for Studio & Broadcasting, By European Countries, 20172024 (USD Million)
Table 52 Market for Studio & Broadcasting, By APAC Countries, 20172024 (USD Million)
Table 53 Market for Studio & Broadcasting, By RoW, 20172024 (USD Million)
Table 54 Market for Hospitality, By Product Type, 20172024 (USD Million)
Table 55 Market for Hospitality, By Region, 20172024 (USD Million)
Table 56 Market for Hospitality, By North American Countries, 20172024 (USD Million)
Table 57 Market for Hospitality, By European Countries, 20172024 (USD Million)
Table 58 Market for Hospitality, By APAC Countries, 20172024 (USD Million)
Table 59 Market for Hospitality, By RoW, 20172024 (USD Million)
Table 60 Market for Others, By Product Type, 20172024 (USD Million)
Table 61 Market for Others, By Region, 20172024 (USD Million)
Table 62 Market for Others, By North American Countries, 20172024 (USD Million)
Table 63 Market for Others, By European Countries, 20172024 (USD Million)
Table 64 Market for Others, By APAC Countries, 20172024 (USD Million)
Table 65 Market for Others, By RoW, 20172024 (USD Million)
Table 66 Market, By Region, 20172024 (USD Million)
Table 67 Market in North America, By Country, 20172024 (USD Million)
Table 68 Market in North America, By Product Type, 20172024 (USD Million)
Table 69 Market in North America, By End User, 20172024 (USD Million)
Table 70 Market in US, By End User, 20172024 (USD Million)
Table 71 Market in Canada, By End User, 20172024 (USD Million)
Table 72 Market in Mexico, By End User, 20172024 (USD Million)
Table 73 Market in Europe, By Country, 20172024 (USD Million)
Table 74 Market in Europe, By Product Type, 20172024 (USD Million)
Table 75 Market in Europe, By End User, 20172024 (USD Million)
Table 76 Market in Germany, By End User, 20172024 (USD Million)
Table 77 Market in UK, By End User, 20172024 (USD Million)
Table 78 Market in France, By End User, 20172024 (USD Million)
Table 79 Market in Italy, By End User, 20172024 (USD Million)
Table 80 Market in RoE, By End User, 20172024 (USD Million)
Table 81 Market in APAC, By Country, 20172024 (USD Million)
Table 82 Market in APAC, By Product Type, 20172024 (USD Million)
Table 83 Market in APAC, By End User, 20172024 (USD Million)
Table 84 Market in China, By End User, 20172024 (USD Million)
Table 85 Market in Japan, By End User, 20172024 (USD Million)
Table 86 Market in India, By End User, 20172024 (USD Million)
Table 87 Market in RoAPAC, By End User, 20172024 (USD Million)
Table 88 Market in RoW, By Region, 20172024 (USD Million)
Table 89 Market in RoW, By Product Type, 20172024 (USD Million)
Table 90 Market in RoW, By End User, 20172024 (USD Million)
Table 91 Market in Mea, By End User, 20172024 (USD Million)
Table 92 Market in South America, By End User, 20172024 (USD Million)
Table 93 Product Launches and Developments (20182019)
Table 94 Partnerships & Collaborations (2019)
Table 95 Expansions (20172019)
Table 96 Acquisitions (2018)
List of Figures (29 Figures)
Figure 1 Sound Reinforcement Market Segmentation
Figure 2 Market: Process Flow of Market Size Estimation
Figure 3 Market: Research Design
Figure 4 Data Triangulation Methodology
Figure 5 Market in Terms of Value (20172024)
Figure 6 Microphones Market to Grow at Highest CAGR From 2019 to 2024
Figure 7 Large Venues & Events to Hold Largest Size of Market During Forecast Period
Figure 8 Digital Segment to Witness Higher CAGR in Market, in Terms of Value, During Forecast Period
Figure 9 North America Held Largest Share in Market, in Terms of Value, in 2018
Figure 10 Market for Corporate to Grow at Highest CAGR From 2019 to 2024
Figure 11 Large Venues & Events to Record Largest Share of Professional Speaker Market During Forecast Period
Figure 12 Microphones to Grow at Highest CAGR for Corporate Sector During Forecast Period
Figure 13 Professional Speaker Holds Largest Share of Market, By 2024
Figure 14 China Expected to Hold Largest Shareholders of Market in APAC By 2024
Figure 15 US to Hold Largest Share of Market, By 2019
Figure 16 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Market Drivers and Their Impact
Figure 18 Market Restraints and Their Impact
Figure 19 Market Opportunities and Their Impact
Figure 20 Market Challengess and Their Impact
Figure 21 APAC to Witness Highest CAGR in Market During 20192024
Figure 22 North America: Market Snapshot
Figure 23 Europe: Market Snapshot
Figure 24 APAC: Market Snapshot
Figure 25 Key Growth Strategies Adopted By Top Companies, 20172019
Figure 26 Market Ranking of Top Players in Market, 2018
Figure 27 Market (Global) Competitive Leadership Mapping, 2018
Figure 28 Sony: Company Snapshot
Figure 29 Yamaha: Company Snapshot
The study involved the estimation of the current size of the sound reinforcement market. Exhaustive secondary research was conducted to collect information on the market, as well as its peer and parent markets. The next step involved the validation of these findings, assumptions, and sizing by the industry experts across the value chain through primary research. Both, top-down and bottom-up approaches were employed to estimate the overall size of the market. Thereafter, market breakdown and data triangulation were used to estimate the size of various segments and subsegments of the market.
Secondary Research
In the secondary research process, various secondary sources were referred to for identifying and collecting information important for this study on the sound reinforcement market. These secondary sources included the National Association of Music Merchants (NAMM); the Institute of Electrical and Electronics Engineers; the European Imaging and Sound Association (EISA); the Audio Engineering Society (AES); journals; press releases, and financials of companies; white papers, certified publications, and articles by recognized authors; directories; and databases.
Primary Research
In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information important for this report. Primary sources from the supply side included industry experts such as chief executive officers (CEOs), vice presidents (VPs), marketing directors, technology and innovation directors, and related executives from key companies and organizations operating in the sound reinforcement market. After complete market engineering (including calculations regarding the market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information as well as verify and validate the critical numbers that were obtained.
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Market Size Estimation
In the complete market engineering process, both top-down and bottom-up approaches were implemented, along with several data triangulation methods, to estimate and validate the size of the sound reinforcement market and other dependent markets and submarkets listed in this report.
- Key players in the markets were identified through extensive secondary research.
- The supply chain of the industry and the market size, in terms of value, were determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the overall market was split into several segments and subsegments. The market breakdown and data triangulation procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends related to different verticals, identified from both demand and supply sides. Along with this, the market size was validated using both top-down and bottom-up approaches.
Following are the major objectives of the study:
- To define, describe, and forecast the sound reinforcement market, in terms of value, based on product type, format, end user, and geography
- To forecast the market size, in terms of value for various segments with respect to 4 main regions, namely, North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
- To provide detailed information and analysis of major factors such as drivers, restraints, opportunities, and challenges influencing the growth of the market
- To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market
- To provide a detailed overview of the value chain of the ecosystem of the sound reinforcement market
- To analyze opportunities in the market for stakeholders by identifying high-growth segments of the sound reinforcement market
- To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailed competitive landscape for the market leaders
- To analyze growth strategies such as product launches and developments, acquisitions, expansions, and agreements adopted by major players in the sound reinforcement market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for this report:
- Market size for 2021 and 2023 based on product type, format, end user, and geography
- Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Sound Reinforcement Market