The latest market report published by Credence Research, Inc. “Global In-ceiling Speakers Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The market for in-ceiling speakers is expected to grow from US$ 99.6 million in 2020 to US$ 227.6 million by 2027 with a CAGR of over 12.5% during the forecast period from 2021 to 2027.
Global In-ceiling Speakers Market, 2020 – 2027 (USD Million)
Because of increased disposable income, the market for in-ceiling speakers is growing in emerging economies such as India, Brazil, and China. Individuals are able to spend on non-essential and luxury items as a result of factors such as economic advancement and an improvement in the standard of living in both developing and developed countries. According to the World Economic Forum, discretionary income in Asia Pacific is expected to grow the fastest between 2019 and 2040. Companies that sell ceiling speakers are conducting research and development to better understand people’s purchasing habits and to improve their product offerings, discounts, and deals. As a result, there is a growing demand for in-ceiling speakers. Over the forecast period, the market is expected to be driven by rising disposable income around the world.
Active in-ceiling speaker market is expected to grow with highest CAGR in the forecast period.
There are two types of in-ceiling speakers on the market: active in-ceiling speakers and passive in-ceiling speakers. In the coming year, the active in-ceiling speaker industry is expected to increase dramatically. Active in-ceiling speakers require a power supply to function since they contain built-in amplifiers. Powered speakers are active in-ceiling speakers. The active in-ceiling speaker is likely to grow at a high rate throughout the forecast period due to its various benefits, including quick installation, easy connectivity, multiple unit pairing, and cost effectiveness.
During the projection period, the residential segment is predicted to increase at the fastest CAGR.
The global market for in-ceiling speakers is divided into two segments: residential and commercial. The residential market is expected to grow rapidly in the coming year as the internet of things (IoT) becomes more widely used in home automation. Traditional in-home technologies, such as entertainment and security systems, were previously only available to the wealthy. As the cost of IoT connectivity and adoption decreases, middle-class customers are gravitating toward smart in-home solutions. As a result, residents are expected to want more in-ceiling speakers.
North America in-ceiling speakers market accounts the dominating position in the global market.
The worldwide in-ceiling speaker market is divided into North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa. During the forecast period, the North American market accounts for a significant portion of the global market. The growing demand for entertainment systems is being driven by the North American market’s expansion, particularly in the United States and Canada. Throughout the forecast period, the growing entertainment and music sectors are expected to drive demand for in-ceiling speakers in North America.
Global In-ceiling Speakers Market key Players:
Some of the key players are Yamaha Corporation, TOA Corporation, Stealth Acoustics, RBH Sound, Q Acoustics, POLK, Klipsch Group, Inc, HARMAN International, Bowers & Wilkins and Bose Corporation. Yamaha Corporation’s professional audio portfolio was expanded in October 2021 with the addition of VC series ceiling speakers for business installations. The VC series ceiling speakers are intended for commercial use and provide excellent sound quality at a price comparable to traditional budget speakers. The series consists of six models, three of which have rear cans and three of which do not. All of the devices in the series have a low-profile design that allows them to be easily installed even in tight ceiling or wall spaces. Large mounting clamps with non-slip treads keep these speakers firmly in place.
Global In-ceiling Speakers Market by Product Type, 2015 – 2027
- Active In-Ceiling Speaker
- Passive In-Ceiling Speaker
Global In-ceiling Speakers Market by Application, 2015 – 2027
Global In-ceiling Speakers Market by Distribution Channel, 2015 – 2027
Global In-ceiling Speakers Market by Company
- Bose Corporation
- Bowers & Wilkins
- HARMAN International
- Klipsch Group, Inc
- Q Acoustics
- RBH Sound
- Stealth Acoustics
- TOA Corporation