The Sound Reinforcement Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Sound Reinforcement Global Market
Report 2024, The sound reinforcement market size has grown steadily in recent
years. It will grow from $8.07 billion
in 2023 to $8.47 billion in 2024 at a
compound annual growth rate (CAGR) of 4.9%.
The growth in the historic period
can be attributed to live event industry growth, rise of music festivals,
regulatory compliance, demand for immersive experiences, venue upgrades..
The sound reinforcement market size is expected to see strong growth in the
next few years. It will grow to $10.33
billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed
to increasing demand for virtual events, focus on sustainable solutions,
evolution of spatial audio, health and safety considerations, globalization of
touring productions.. Major trends in the forecast period include advancements
in audio technology, demand for wireless solutions, integration with networked
audio systems, focus on portable and compact systems, enhanced durability and
weather resistance, collaboration with av and it systems..
The increasing consumer demand for live concerts and entertainment is expected
to propel the growth of the sound reinforcement market going forward. A live
concert is a musical performance performed in front of an audience. Sound
reinforcement systems are used in live concerts to amplify the sound. For
instance, in May 2021, according to a survey by LIVE, a UK-based live music
industry body, out of 25,000 responses that were collected from LIVE's music
fans, 75% of respondents agreed that they wanted live music shows and were
willing to visit music concerts with some COVID restrictions while 53% of
respondents were ready to go without any restrictions, and 73% of attendees
have already purchased tickets for upcoming events. Therefore, the growing
demand for live concerts and entertainment is driving the growth of the sound
reinforcement market.
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The sound reinforcement market covered in this report is segmented –
1) By Product Type: Microphones, Professional Speakers, Audio Sound Mixers,
Audio Signal Processors, Power Amplifiers, Other Product Types
2) By Format: Digital, Analog
3) By End User: Corporate, Large Venues and Events, Educational Institutions,
Government, Studio and Broadcasting, Hospitality, Other End Users
Technological advancement is a key trend gaining popularity in the sound
reinforcement market. Major companies operating in the sound reinforcement
market are focused on developing new technological solutions to strengthen
their position. For instance, in May 2021, HOLIOPLOT GmbH, a Berlin-based
company operating in sound reinforcement, launched its new X1 product line,
including X1 Modul 966 full range and the X1 Modul 80-S loudspeaker + subwoofer.
The X1 line has a fully integrated system that adds sophisticated software and
IoT capabilities which makes it ideal for concerts, events, theme parks, and
many more applications. It is a unique and patented technology that represents
a quantum leap in audio reproduction, allowing ultra-high precision sound
control across long distances. This uses its proprietary 3D Beamforming
technology to optimize the listening experience for each audience member while
reducing spillovers and external noise pollution.
The sound reinforcement market report table of contents includes:
1. Executive Summary
2. Sound
Reinforcement Market Characteristics
3. Sound
Reinforcement Market Trends And Strategies
4. Sound
Reinforcement Market - Macro Economic Scenario
5. Global
Sound Reinforcement Market Size and Growth
.
31. Global Sound Reinforcement Market Competitive Benchmarking
32. Global
Sound Reinforcement Market Competitive Dashboard
33. Key
Mergers And Acquisitions In The Sound Reinforcement Market
34. Sound
Reinforcement Market Future Outlook and Potential Analysis
35.
Appendix
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