According to a new report published by Allied Market Research, titled, "Professional Portable Audio System Market," The professional portable audio system market was valued at $2.3 billion in 2021, and is estimated to reach $5.1 billion by 2031, growing at a CAGR of 8.5% from 2022 to 2031.
The scope of the report discusses the potential opportunities for the key players to enter the digital multimeter market. Furthermore, it provides an in-depth analysis of the market, outlining current trends, key driving factors, and key areas of investment. The report includes Porter's five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. Moreover, it features the strategies adopted by key market players to maintain their foothold in the market.
The professional portable audio system market is segmented on the basis of equipment, usage, distribution channel, application, and region. By equipment, it is classified into microphones, speaker system, power amplifier, mixing console, and others. By usage, it is bifurcated into purchased and rental. By distribution channel, it is divided into offline and online. By application, it is categorized into corporate bodies, government, hospitality, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key factors driving the growth of the professional portable audio system market include the surging growth in film and music industry, increasing use in corporate and industrial sector, and access to professional portable audio system on-rent. Meanwhile, difficulty in maintenance and repairing of equipment is expected to restrict the market.
The key players operating in the professional portable audio system market are Yamaha Corporation, QSC, LLC, RCF S.p.A, Bose Corporation, Harman International, KORG Inc., Roland Corporation, Sennheiser Electronic GmbH & Co. KG, Georg Neumann GmbH, and Sonodyne. These key players adopt several strategies such as new product launch and development, acquisition, partnership and collaboration and business expansion to increase their market share in the global professional portable audio system market during the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the professional portable audio system market analysis from 2021 to 2031 to identify the prevailing professional portable audio system market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the professional portable audio system market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global professional portable audio system market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Usage
By Distribution Channel
By Application
- Corporate Bodies
- Government
- Hospitality
- Others
By Equipment
- Microphone
- Speaker System
- Power Amplifier
- Mixing Console
- Others
By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- Bose Corporation
- Georg Neumann GmbH
- HARMAN International.
- KORG Inc.
- QSC, LLC
- RCF S.P.A.
- Roland Corporation
- Sennheiser Electronic GmbH & Co. KG
- Sonodyne
- Yamaha Corporation