November 22nd, 2022
Pro audio market was valued at USD 2.04 billion in 2021 and is expected to reach USD 3.78 billion by the year 2028, at a CAGR of 9.2% over the forecast period 2022- 2028.
The global professional audio market is expected to register a CAGR of 9.2% during the forecast period (2022-2028). The evolving entertainment ecosystem, which includes live events/concerts, studio productions and web production, has spurred the market's desire for advanced, noise-proof audio equipment. The professional audio market has benefited from the increasing digitization and widespread adoption of smartphones and the availability of high-speed internet. They create noise-free, error-free audio mixes for commercials, music recordings, and other professional endeavours.
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There are many different types and prices for the professional audio market. Investing in professional audio requires paying a higher upfront price. The equipment is built with numerous intricate structures, which increases the production cost of the finished good. The most expensive items are circuit designs and parts such as transistors, capacitors and telcos. Also, assembly is the process of building a single unique object from lots of complementary components. For the assembly and testing of this part, the company needs specialists. The upfront cost of professional audio is increased by all these factors, which could slow the expansion of the professional audio market during the forecast period.
Leading Key Players Covered in Pro Audio Market:
· Sennheiser (Germany)
· Yamaha (Japan)
· Audio Technical (Japan)
· Shure (USA)
· AKG (Austria)
· Blue (Japan)
· Lewitt Audio (Austria)
· Sony (Japan)
· Takstar (China)
· MIPRO (USA)
· Allen & Heath (UK)
· TOA (Japan)
· Wisycom (Italy)
· Beyerdynamic (Germany)
· Lectrosonic (USA)
Pro Audio Market study explores the competitive landscape of the global market. In addition to rival market share research, in-depth profiling, product/service, and business overviews, the study focuses on BCG matrix, heat map analysis, and SWOT analysis to better correlate market competitiveness. Five forces analysis, Ansoff matrix, PESTEL analysis, and value chain analysis are used to better understand market conditions.
Market Segmentation: -
By Product Type:-
· Wired & Wireless Microphones
By Distribution Channel:-
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
· Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
· South America (Brazil, Argentina, Rest of SA)
The global professional audio market is segmented by product (speakers, power amplifiers, mixing consoles, microphones, headphones), type (wired, wireless), vertical end users (corporate, venues and events, retail, media and entertainment) and geography. This research provides an in-depth assessment of the market, highlighting information on various aspects covering market dynamics such as drivers, barriers, opportunities, threats, and industry news and trends. Additionally, the report provides strategies for companies to overcome the threats posed by the COVID-19 period.
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Pro Audio Speakers and Amplifiers market size, estimates, and forecasts are provided in terms of production/shipping (units) and revenue (million USD). The influence of COVID-19 and the Russia-Ukraine War was considered when estimating market size. The report will help Professional Amplifier & Speaker manufacturers, new entrants and companies related to the industry chain in this market with revenue, production and average price information.
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