Global Professional Portable Audio System Market Size, Share & Industry Trends Analysis Report By Distribution Channel, By Application (Hospitality, Corporate Bodies, Government and Others), By Equipment, By Usage, By Regional Outlook and Forecast, 2022 - 2028
Special Offering: Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
Get in-depth analysis of the COVID-19 impact on the Professional Portable Audio System Market
Market Report Description
The Global Professional Portable Audio System Market size is expected to reach $3.7 billion by 2028, rising at a market growth of 8.4% CAGR during the forecast period.
Professional portable audio systems are those in which locations can be altered based on the requirements, as their components can be disassembled and moved. They are mostly utilized in the music business, industry gatherings, commercial complexes, and professional public functions and gatherings. Professional portable audio systems are studio-grade, high-end devices that generate crystal-clear, high-quality sound.
The usage of professional portable audio systems in the business and industrial sectors during corporate events drives the industry. Corporate events are an integral aspect of corporate culture and are anticipated to remain in the future, despite the cyclical ups and downs seen in many industries. There are several reasons why these events are held, including yearly meetings, team celebrations, charity causes, and corporate prosperity.
Performers, musicians, and vocalists utilize professional-grade portable audio equipment for their performances, including songs and dance, during these events. They are an integral element of corporate culture and are anticipated to remain in the future, despite the cyclical ups and downs that sectors experience. In addition, the market depends on the film, television, video-on-demand, and music industries. These audio systems are typically utilized to play popular songs and music during music festivals, where they are necessary.
Several of these songs and pieces of music were initially composed and published in films, television programs, or music albums. They are then performed at these musical events either in their original form or in various remixed variants. All of these end sectors are operating well and increasing continuously in the market. Access to rental professional portable audio systems is also a significant industry driver. Professional portable audio systems are an expensive investment.
COVID-19 Impact Analysis
To counteract the negative impacts of covid-19, the key participants in the professional portable audio system industry have reduced their R&D resources and prioritized next-generation goods. The pandemic caused a significant rise in demand for professional audio equipment, including speakers, headphones, and microphones. As more people preferred to work from home, there was a huge surge in the sales of high-quality audio equipment for professionals. The market faced a decline in the sales of professional portable audio systems during the start of the pandemic. Still, the slowdown was overcome by the high demand for this equipment due to work for home and online events joined with the increased demand after pandemic due to high number of events.
Market Growth Factors
Constant increase in popularity of film and music industry
Major firms have implemented regional expansions and distribution partnerships to enter undeveloped areas. To develop a strong relationship with the audience in these areas, several major players have shifted their attention to regional content production. Due to easy access to an audience through several means, such as television and the internet, new talent has increased. In addition, the rising use of mobile communication and the internet in nations drives the growth of innovative industries. The growing music and film industry will likely increase the number of musical and film events for promotion and other purposes, increasing the demand for a professional portable audio system, which will drive the market growth.
Rental firms increasing the reach and benefits of professional portable audio system
Professional audio-visual equipment rental businesses supply clients with up-to-date and well-maintained equipment. This peace of mind is advantageous for guaranteeing that the event will be of the highest quality. As rental firms make money by renting out equipment, it is their top priority to ensure customer satisfaction by providing equipment that satisfies the standards and follows the manufacturer's instructions. Hence, the benefits associated with renting professional portable audio systems will increase their reach to numerous users while also raising the popularity of such systems, which will aid in market growth.
Market Restraining Factors
High cost of included equipment raising the net cost of the audio system
A dynamic microphone has a copper coil linked to its diaphragm, which increases its weight. A condenser microphone, on the other hand, has a considerably lighter diaphragm assembly, resulting in greater sensitivity. Nevertheless, this also implies that the research that went into developing larger diaphragms for a broader frequency response while keeping a high degree of sensitivity significantly impacts the production cost. The high cost of the included equipment in the professional portable audio system is expected to decline their popularity and thereby restrict the market growth.
Distribution Channel Outlook
Based on distribution channel, the professional portable audio system market is segmented into online and offline. The offline segment dominated the professional portable audio system market with maximum revenue share in 2021. This is due to the benefits of physically trying and testing the audio equipment, which ensures minimal requirement of a product return. For many firms, the offline approach is the most suitable and only available choice. Also, with offline shopping, the chances of getting a broken piece of equipment are minimum, which, joined with other factors, is expected to propel the segment’s growth in the projected period.
On the basis of application, the professional portable audio system market is divided into corporate bodies, government, hospitality and others. The corporate bodies segment procured a substantial revenue share in the professional portable audio system market in 2021. This is owing to the fact that a business event is an excellent opportunity to not only make oneself recognized and draw closer to the target audience but also to generate new connections. Planning a business event provides an opportunity to inspire confidence in others by building a deep relationship and demonstrating the company's operations and beliefs up close.
By equipment, the professional portable audio system market is classified into microphone, speaker system, power amplifier, mixing console and others. The microphone segment garnered a considerable growth rate in the professional portable audio system market in 2021. This is due to the fact that musical ensembles, and stage productions, all need microphones and audio systems to operate. Using portable mics, performers may move their hands and bodies freely across the stage, allowing for more adaptable performances. News organizations and broadcasting venues with big audiences, such as courtrooms, widely utilize a portable wireless microphone.
Based on the usage, the professional portable audio system market is bifurcated into purchased and rental. The rental segment recorded a significant revenue share in the professional portable audio system market in 2021. This is because renting audio equipment can result in fewer complications for the user. By renting, users do not have to locate a place to store the equipment while it is not in use. And rental firms can typically deliver the equipment to the event location, which saves the user from carrying the large equipment to the event.
|Market size value in 2021||USD 2.1 Billion|
|Market size forecast in 2028||USD 3.7 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 8.4% from 2022 to 2028|
|Number of Pages||257|
|Number of Table||450|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Distribution Channel, Application, Equipment, Usage, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-wise, the professional portable audio system market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region led the professional portable audio system market by generating the maximum revenue share in 2021. The growth is attributable to the increasing music industry size in the region. The expanding pop and partying culture of the region's population contributes to the expansion of the professional portable audio system. In addition, the corporate sector's growth is expected to promote the industry for corporate events, which will further fuel the market growth in the region during the projected period.
Free Valuable Insights: Global Professional Portable Audio System Market size to reach USD 3.7 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sonodyne Technologies Pvt. Ltd., QSC, LLC, RCF S.p.A., Focusrite Plc (ADAM Audio GmbH), Alps Alpine Co., Ltd., Sennheiser Electronic GmbH & Co. KG , Bose Corporation, Harman International Industries, Inc. (Samsung Electronics Co., Ltd.), Roland Corporation and Yamaha Corporation (Menchey Music Service, Inc.).
Strategies deployed in Signals Professional Portable Audio System Market
» Partnerships, Collaborations and Agreements:
- 2022-May: Yamaha came into partnership with AVer, an education, business communication, and wireless presentation technology manufacturer, for providing smart video and audio solutions. With this partnership, Yamaha's capabilities in offering high-quality microphones would be combined with AVer's advanced cameras to develop smart solutions delivering improved networking and video presentation experiences.
- 2020-Apr: Sennheiser signed a partnership with AUDAC, an audio matrix solutions provider, to extend its reach in Indian Markets. Through this partnership, Sennheiser would be able to oversee the entire sales, distribution, and services of an extensive line of advanced audio products and solutions offered by AUDAC, strengthening the presence of Sennheiser in the Indian Market.
» Product Launches and Product Expansions:
- 2023-Mar: QSC made enhancements by adding capabilities to TouchMix-30 Pro digital mixer with a firmware v3.0 update. TouchMix-30 Pro with firmware v3.0 would meet the demands of professionals with the inclusion of Scenes, Snapshots, Cue List management, and offline editing functionalities. The advanced added capabilities would be two independent 24-channel, gain-sharing Automatic Microphone Mixers, and the ability to connect to some external motorized fader control surfaces from third parties.
- 2023-Feb: Sennheiser launched Xilica x Sennheiser Small Room Kit, an IT-centric audio bundle developed in collaboration with Xilica, providing the pre-designed room audio system for smaller spaces. Xilica x Sennheiser Small Room Kit would be an IT-centric solution focusing on Category 5 cable and Power-over-Ethernet, enabling better human connection in meeting rooms, classrooms, and collaboration areas.
- 2022-Nov: Yamaha announced the launch of the CS-800 Video Sound Bar and CS-500 collaboration System, for better video conferencing suitable in a variety of workspaces. CS-800 Video Sound Bar and CS-500 collaboration System would be a powerful integration of Yamaha’s audio processing technology with the intelligent video that delivers better calling experiences for hybrid workspaces by recording sound and automatically adjusting the video and audio to the surroundings.
- 2022-Aug: Yamaha Corporation introduced STAGEPAS 1K mkII portable PA system and DXL1K powered loudspeaker, additions to Yamaha's professional audio portfolio. STAGEPAS 1K, a portable PA system with a coverage area of 170° (horizontally) by 30° (vertically) designed for offering consistent, high-quality sound to the audience, while DXL1K loudspeaker would possess an identical power amplifier and speaker arrays with high-quality sound, developed for larger-scale events.
- 2021-Sep: Harman announced the launch of the JBL Commercial CSSG20 on-camera shotgun microphone in the Indian Market. JBL Commercial CSSG20 on-camera shotgun microphone is a high sensitivity condenser capsule with super-cardioid pickup pattern that filters out noise below 200Hz to reduce background noise, enabling professionals to record high-quality sound.
- 2021-Jan: Yamaha released- RX-V4A and RX-V6A, two latest RX-V audio-video receivers (AV receivers) in India. Expanding its suite of the home audio segment, RX-V4A, and RX-V6A are developed to keep up with the latest trends and requirements for home entertainment, including gaming, supporting 8K, HDMI 2.1, and HDR10+.
Scope of the Study
Market Segments Covered in the Report:
By Distribution Channel
- Corporate Bodies
- Speaker System
- Mixing Console
- Power Amplifier
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Sonodyne Technologies Pvt. Ltd.
- QSC, LLC
- RCF S.p.A.
- Focusrite Plc (ADAM Audio GmbH)
- Alps Alpine Co., Ltd.
- Sennheiser Electronic GmbH & Co. KG
- Bose Corporation
- Harman International Industries, Inc. (Samsung Electronics Co., Ltd.)
- Roland Corporation
- Yamaha Corporation (Menchey Music Service, Inc.)
Unique Offerings from KBV Research
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
North America Professional Portable Audio System Market Report 2022-2028
Europe Professional Portable Audio System Market Report 2022-2028
Asia Pacific Professional Portable Audio System Market Report 2022-2028
LAMEA Professional Portable Audio System Market Report 2022-2028
How valuable will the Professional Portable Audio System Market be in the future?
The global Professional Portable Audio System Market size is expected to reach $3.7 billion by 2028.
What are the key driving factors and challenges in the Professional Portable Audio System Market?
Rental firms increasing the reach and benefits of professional portable audio system are driving the market in coming years, however, High cost of included equipment raising the net cost of the audio system restraints the growth of the market.
What are the major top companies in the competitive landscape?
Sonodyne Technologies Pvt. Ltd., QSC, LLC, RCF S.p.A., Focusrite Plc (ADAM Audio GmbH), Alps Alpine Co., Ltd., Sennheiser Electronic GmbH & Co. KG , Bose Corporation, Harman International Industries, Inc. (Samsung Electronics Co., Ltd.), Roland Corporation and Yamaha Corporation (Menchey Music Service, Inc.).
Which segment shows a high revenue share of the Professional Portable Audio System Market in 2021?
The Hospitality segment acquired maximum revenue share in the Global Professional Portable Audio System Market by Application in 2021 thereby, achieving a market value of $1.5 billion by 2028.
Which segment is leading the market in 2021?
The Purchased segment is leading the Global Professional Portable Audio System Market by Usage in 2021 thereby, achieving a market value of $2.6 billion by 2028.
Which region dominated the Professional Portable Audio System Market in 2021?
The North America market dominated the Global Professional Portable Audio System Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.2 billion by 2028.