Pro loudspeaker market set to grow $1bn by 2021 - PSNEurope

Pro loudspeaker market set to grow $1bn by 2021

The market report shows that 'times are changing' for the industry
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The professional loudspeaker market is on track to reach $3.6 billion by 2021 according to a new market report from Futuresource Consulting.

The market, currently valued at $2.6 billion worldwide, has been bumped up private investment acquisitions made by Ardian (for d&b audiotechnick), Transom Capital Group (for Loud Technologies, which includes Mackie, Ampeg, EAW and Martin Audio brands), and Samsung’s acquisition of Harman.

According to the research, installed leisure and installed commercial verticals lead the way for market development, continuing to post healthy growth out to 2021 and beyond.

“The times are changing for the pro loudspeaker industry, with a range of challenges that will test manufacturers and ultimately open up new opportunities across the entire landscape,” said Chris McIntyre-Brown, associate director at Futuresource Consulting. “In this maturing market, it’s no longer just about being in the right place at the right time. Brands are placing a greater emphasis on data analytics and research to identify growth opportunities,” he added.

“Watch out for the brands that can build relationships and form partnerships, either from a product or channel perspective. These will be the ones that survive and thrive in the new audio environment, where software integration, networking, sound monitoring and production tools all converge upon the pro loudspeaker ecosystem,” McIntyre-Brown added.

Read the full analysis of the report on Installation here.

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