Outdoor Audio System Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030
Page: 215 | Report Code: CG240123 | Research Suite: Report (PDF) & Market Data (Excel)
The market value of the outdoor audio system market was valued at USD 2.2 billion in 2022, and a CAGR of 5.8% is expected during the forecast period. Increased demand for entertainment solutions in outdoor spaces is driving growth in the outdoor audio system market. Wireless and weather-resistant speakers are popular choices, offering flexibility and durability. Factors like connectivity and sound quality play an important role when we choose a system. Increasing disposable income all over the world, advancements in wireless technology, and growing solutions for events and gatherings are driving the demand for outdoor audio systems. The emphasis on enhancing the overall outdoor experience is driving the growth of the market.
Impact of
Covid-19
COVID-19 has had a negative impact on the outdoor audio
system market due to stringent lockdown and physical distancing. The outdoor
audio system market also faced a slowdown. All the outdoor activities were
either cancelled or postponed due to COVID-19. Economic uncertainties caused by
COVID-19 were the big reason behind the slowdown in the market, as people
wanted to restrict themselves to essential goods only. However, after the
adoption of new norms by the public, there was a surge in demand for outdoor
audio systems for home use, leading to a shift in market dynamics. Remote work
and outdoor entertainment trends have also influenced consumer preferences,
driving innovation in the industry. Post-COVID-19, all emphasis was on outdoor activities.
The increasing urban population is driving the demand for outdoor audio
systems.
Growth Drivers
Increasing urbanization all over the world, increasing disposable income, and people seeking better options for outdoor entertainment are driving the growth in the outdoor audio system market. The rising popularity of outdoor events and people seeking to enjoy more outdoor environments after the pandemic got over are the key factors driving the significant growth in the market. Trends like smart home integration and the desire for high-quality sound are the key factors driving the growth of the market.
Increasing technological advancements and audio or surround sound systems for television or video, increasing adoption of speakers, and the development of smart speaker wireless and multi-room audio streaming systems are driving significant growth in the market. Increasing demand for recreational outdoor activities is driving the growth of the market. The rise in outdoor activities such as concerts, festivals, and sports gatherings has spurred the adoption of high-quality audio systems. The growing trend of outdoor living spaces and the integration of audio systems in residential landscapes contribute to market expansion. Advancements in wireless technology, the durability of outdoor audio products, and the popularity of smart speakers further drive the market’s growth.
Segmentation
By Type
·
Wire
·
Wireless
By Application
·
Household
·
Commercial
Power and Range
·
Low Powered
·
High Powered
Weather
Resistance
·
Weatherproof
·
Indoor/outdoor
Installation
Type
·
In-ground
·
Surface-mount
Brand and
Quality Tears
·
Premium
·
Mid-Range
·
Budget
Application
Specific
·
Landscape Audio
·
Portable System
Regional
Outlook
·
Asia Pacific
·
North America
·
Europe
·
Middle East and
Africa
·
Latin America
Outdoor Audio
System Market Type Segmentation
On the basis of type, the outdoor audio system market
is segmented into wired and wireless. Wireless outdoor system is the leading
segment due to its better flexibility. A
wired outdoor system is the preferred audio system due to its stability and
reliable connection compared to wireless alternatives. Wired connections often
provide higher audio quality without compression, making them well suited for
permanent outdoor solutions. Wireless systems provide better flexibility, and
installation is typically simpler. This system is beneficial for temporary
events. These are compatible with smart devices.
Outdoor Audio System Market Application
Segmentation
On the basis of applications, the outdoor audio system market is segmented into household and commercial. Both of these applications have witnessed significant growth due to distinct drivers in each segment. The increasing popularity of outdoor living spaces and entertainment areas in homes is driving the demand for integrated audio systems. Growing adoption of smart home technologies, with outdoor audio systems being seamlessly connected to smart home ecosystems. Consumers seeking weather-resistant and durable outdoor audio solutions are contributing to the demand for robust products, increasing demand for recreational activities, and outdoor activities are driving the growth in the market significantly.
Hotels, resorts, and restaurants
incorporate outdoor audio for enhanced customer experience and ambiance. Concert
arenas, sports stadiums, and public event spaces are investing in
high-performance outdoor audio systems to cater to large audiences. Shopping
centers, parks, and other public areas integrate audio solutions to create an
engaging environment for visitors. The convenience of technology, aesthetics,
and functionality plays a crucial role in shaping both the commercial and
outdoor audio systems markets. Increasing demand for recreational sports is
driving the growth of the market significantly.
Regional Outlook
On the basis of the regions, the outdoor audio system market is segmented into 5 parts: Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. North America was the leading region and is expected to lead during the forecast period due to increasing disposable income, high adoption of smart home technology, and varied climates influencing demand for weather-resistant systems. Strong presence of medium- and mid-range brands. Asia Pacific is another leading segment due to rapid urbanization, driving demand in residential and commercial sectors, preference for wireless and smart audio solutions, and the presence of emerging economies like China and India, which are the biggest markets in the world, which are driving the growth rapidly.
The emphasis on outdoor living spaces in European countries like England, Germany, France, Italy, and Spain is driving the demand for outdoor audio systems in the market. Demand for both compact and high-power systems is driving the growth of the market. Regulatory standards impact the product features. Growing interest in outdoor entertainment spaces is driving growth in Latin American markets like Brazil, Argentina, and Mexico. Price sensitivity in these countries is influencing market dynamics. Demand for premium audio systems in luxury developments and a focus on outdoor entertainment in resorts are driving the growth of this market in the Middle East.
Key Players
·
Bose
·
Yamaha
·
Harman
·
Sony
·
JBL
·
Panasonic
·
LG
·
Samsung
·
Klipsch
·
Polk Audio
· Other Players