In 2023, the professional loudspeaker market demonstrated varied performance across different sectors, reflecting the dynamic nature of the global audio industry. The market experienced significant growth in some areas, while others faced challenges due to economic factors and changing end user behaviours.
The touring and rental segment experienced robust growth in 2023, with a remarkable 25% year-over-year increase. This surge was propelled by the live entertainment industry's strong recovery, as gross revenue for the top global tours rose by 46% and ticket sales increased by 18.4%. The market is expected to grow at a 7.9% CAGR from 2023 to 2028, the highest among all verticals covered in this report.
Futuresource Professional Loudspeakers Market
This report provides a comprehensive analysis of the challenges and changes faced by the loudspeaker industry in the aftermath of the pandemic. The survey highlights the shifting landscape as the pandemic era begins to lift. While new challenges emerge, such as backlogs, supply chain issues, rising costs, labour shortages, and a fragile economy, the report serves as a reflection point for the industry. It explores the sudden and uncontrollable global event that disrupted an industry heavily reliant on person-to-person interactions and congregations.
Manufacturers had to redirect their sales and delivery efforts to markets with established protocols and adapt to new communication methods to facilitate progress. Some markets faced prolonged shutdowns of over 24 months, highlighting the resilience, adaptability, and passion demonstrated by industry professionals. The report also covers six key pro audio product areas, including loudspeakers, microphones, mixing consoles, amplifiers, headphones, and audio interfaces, providing a comprehensive overview of the industry's survival, adaptation, and perseverance.
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