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The US sound reinforcement market is likely to reach around $3.16 billion by 2024NEW YORK, June 12, 2019 /PRNewswire/ -- The US sound reinforcement market is likely to reach around $3.16 billion by 2024, growing at a CAGR of approximately 3% during 2018–2024. The US sound reinforcement market by distribution can be segmented into online and retail segments. In 2018, the retail segment contributed the highest market revenue globally. Although the trend of selling sound reinforcement products online and in OEM stores is growing, a significant share of product distribution in the market takes place through conventional pro audio and electronics stores/outlets. However, with the increasing penetration of the internet, the availability of high discounts and access to consumer reviews, the online distribution segment of the US sound reinforcement market is likely to increase during the forecast period. The US sound reinforcement market by end-user can be segmented into large venues and events, corporates, educational institutes, government and military, hospitality, and others. The corporate sector is expected to remain the largest end-user segment in the sound reinforcement market, contributing a significant revenue share to the global market by 2024. Further, the geographical expansion of companies and integration of IoT in business workflow processes are other major factors, which have made corporates as the largest end-user. The corporate segment will grow due to the growing demand for AV conferencing solutions among organizations during the forecast period. The growing application of pro AV systems in the hospitality sector is also driving the demand for AV products. Market Segmentation by Products • Microphones • Pro speakers • Audio/Sound Mixers • Audio Signal Processors • Power Amplifiers • Others Market Segmentation by Formats • Digital • Analog Market Segmentation by Distribution Channels • Online • Retail Market Segmentation by End-users • Large Venues and Events • Corporates • Educational Institutes • Government and Military • Hospitality • Others Key Vendor Analysis The US sound reinforcement market is highly fragmented with the presence of a large number of local and global players. Market vendors compete in terms of quality, product features, and competitive pricing. The competition is expected to intensify further during the forecast period with an increase in product innovations. Also, an increase in product/service extensions, technological innovations, and M&A are expected to drive the US sound reinforcement market. Prominent Vendors • Audio-Technica o Business Overview o Product Offerings o Key Strengths o Key Strategies o Key Opportunities • Bose • HARMAN International • MUSIC Group (Music Tribe) • Sennheiser Electronic • Shure • Sony • Yamaha Other Prominent Vendors • ADK microphones o Business Overview • AEB Industriale (DB TECHNOLOGIES) • Alcons Audio • Ansr Audio • Apex Audio • Audioprof • Audio Engineering Associates • Audix microphones • Beijing 797 Audio • Belden • Beyerdynamic • Blue Microphones • Bowers & Wilkins (B&W) • BOYA • CAD Audio • Carlson Audio Systems • CeltoAcoustique • Coda Audio • CORDIAL • Dynaudio • d&baudiotechnik/system • Electro-Voice (EV) • Extron Electronics • GTD Audio • HEDD | Heinz Electrodynamic Designs • Hz Sound Systems • inMusic • Klipsch Audio Technologies • K-Array • Lectrosonics • Legrand • Lewitt • Liberty AV • LOUD Audio • MIPRO Electronics • MXL by Marshall Electronics • Nady Systems • OUTLINE • Pan Acoustics • Powersoft Audio • PROEL • Pyle Pro • Samson Technologies • sE Electronics • Southwire Company • Stewart Audio • Vivolink • Zaxcom Key Market Insights • Offers market sizing and growth prospects of the functional US sound reinforcement market for the forecast period 2019–2024 • Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the US sound reinforcement market • Includes a detailed analysis of market growth drivers, challenges, and investment opportunities • Delivers a complete overview of market segments and the regional outlook of the US sound reinforcement market • Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the US sound reinforcement market Read the full report: https://www.reportlinker.com/p05779104/?utm_source=PRN About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 View original content:http://www.prnewswire.com/news-releases/the-us-sound-reinforcement-market-is-likely-to-reach-around-3-16-billion-by-2024--300866709.html SOURCE Reportlinker |