The professional speaker market share is expected to increase by USD 543.74 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.36%.

This professional speaker market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers professional speaker market segmentation by type (digital and analog) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The professional speaker market report also offers information on several market vendors, including Yamaha Corp., AEB Industriale Srl, B and C Speakers SpA, Biamp Systems LLC, Bose Corp., Bowers and Wilkins, Carlson Audio Systems, CELTO Acoustique Europe SRL, CODA Audio GmbH, D and B audiotechnik GmbH and Co. KG, Dynaudio AS, Extron, Harman International Industries Inc., K array, L-Acoustics, Loud Audio LLC, Meyer Sound Laboratories Inc., Nady Systems Inc., Renkus-Heinz Inc., and Sony Group Corp. among others.

What will the Professional Speaker Market Size be During the Forecast Period?

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Professional Speaker Market: Key Drivers, Trends, and Challenges

The new product launches is notably driving the professional speaker market growth, although factors such as limitations of professional speakers may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the professional speaker industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Professional Speaker Market Driver

One of the key factors driving the global professional speaker industry growth is the new product launches. For instance, in December 2021, HARMAN Professional Solutions announced the launch of JBL Professional 3800 and 4800 Series, which are screen-channel loudspeakers and can be installed in small to medium-format cinemas in China. In October 2021, Soundcore announced the launch of Select Pro speakers in India. These are portable speakers and can be used in outdoor venues. In June 2021, HARMAN Professional Solutions announced the launch of the JBL CMX6000 series column speaker system in China. In February 2021, Sony India announced the launch of its latest premium wireless speaker, SRS-RA3000. In March 2020, Yamaha announced the launch of its new HS5 MP, HS7 MP, and HS8 MP models, which are powered monitor speakers and can be used for professional and home studio environments. Thus, such activities will drive the growth of the market during the forecast period.

Key Professional Speaker Market Trend

Demand for professional speakers in sporting arenas and stadiums is one of the key professional speaker market trends that is expected to impact the industry positively in the forecast period. Sporting arenas and stadiums need to be equipped with integrated advanced audio, video, and lighting technologies. Vendors such as HARMAN Professional Solutions offer Versatile Line Array (VLA) loudspeakers that use the combination of line array technology and horn-loaded design and can offer horizontal pattern control. The company claims that these speakers were installed in Soldier Field stadium in the US, Moda Center, an indoor sports arena used for basketball, ice hockey, and rodeos, US Bank Stadium, and BC Place, a multipurpose stadium located in Canada. Similarly, in November 2021, Fulcrum Acoustic announced that the company installed its AHS steerable coaxial horn loudspeakers at Crusader Stadium at the University of Mary Hardin-Baylor in Texas. Such factors will contribute to market growth during the forecast period.

Key Professional Speaker Market Challenge

One of the key challenges to the global professional speaker industry growth is the limitations of professional speakers. There is a requirement for an appropriate arraying of point source speakers to ensure no interference occurs between two speakers. Furthermore, using point source and line array speakers has its disadvantages owing to their design limitations. For instance, line array speakers cannot be installed in rooms that have low ceilings. Furthermore, it is a challenging task to design an appropriate array with point source speakers that are used as a part of a larger array or cluster. The arrays may work better at certain frequencies as compared to others. Thus, acoustic lobing can be observed at certain frequencies, and unexpected interference can occur between two-point source speakers. Thus, skilled sound engineers are required that can recommend appropriate arraying of point source speakers. These limitations of point source and line array speakers can pose a challenge to the growth of the global professional speaker market during the forecast period.

This professional speaker market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global professional speaker market as a part of the global consumer electronics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the professional speaker market during the forecast period.

Who are the Major Professional Speaker Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Yamaha Corp.
• AEB Industriale Srl
• B and C Speakers SpA
• Biamp Systems LLC
• Bose Corp.
• Bowers and Wilkins
• Carlson Audio Systems
• CELTO Acoustique Europe SRL
• CODA Audio GmbH
• d and b audiotechnik GmbH and Co. KG
• Dynaudio AS
• Extron 
• Harman International Industries Inc.
• K array
• L-Acoustics
• Loud Audio LLC
• Meyer Sound Laboratories Inc.
• Nady Systems Inc.
• Renkus-Heinz Inc.
• Sony Group Corp.

This statistical study of the professional speaker market encompasses successful business strategies deployed by the key vendors. The professional speaker market is fragmented and the vendors are deploying growth strategies such as new product launches to compete in the market.

Product Insights and News

• AEB Industriale Srl - The company offers INGENIA series that embodies a longtime experience in acoustics, mechanics, power electronics, and DSP programming, combined with talent and intuition in order to create an unprecedented active speaker. 
• AEB Industriale Srl - Under the unified segment, the company offers products such as amplifiers, sound systems, radio systems, software, and controller. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The professional speaker market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Professional Speaker Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the professional speaker market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Professional Speaker Market?

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31% of the market's growth will originate from APAC during the forecast period. US, Canada, China, Germany, and UK are the key markets for professional speakers in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The growing music industry, the availability of professional speakers through organized retail stores and e-commerce platforms, and the presence of prominent vendors will facilitate the professional speaker market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic had a negative impact on the regional professional speaker market. The governments in countries such as the US, Canada, and Mexico imposed nationwide lockdowns and COVID-19-related restrictions to curb the spread of the disease. As a result, physical retail stores selling professional speakers were shut, which impacted the sales of professional speakers. As outdoor activities were prohibited, various music and sporting events were canceled or delayed. Thus, there was low regional demand for professional speakers. However, in H2 2020, due to the availability of vaccines, there was a reduction in COVID-19 cases in the region. The retail stores selling professional speakers reopened. The market is expected to witness growth during the forecast period.

What are the Revenue-generating Type Segments in the Professional Speaker Market?

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The professional speaker market share growth by the digital segment will be significant during the forecast period. The growth is attributed to the wide range of digital professional speakers such as point source speakers, line array speakers, subwoofers, and others, offered by market vendors.

This report provides an accurate prediction of the contribution of all the segments to the growth of the professional speaker market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Professional Speaker Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive professional speaker market growth during the next five years
• Precise estimation of the professional speaker market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the professional speaker industry across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of professional speaker market vendors

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