Product launches and developments, partnerships, and collaborations have been the major strategies adopted by the leading players to grow in the sound reinforcement market. Among all these strategies, leading players of the market have focused on product launches and developments to remain competitive in the market. Key players that have implemented these strategies are Audio-Technica (Japan), Bose (US), HARMAN (US), MUSIC Group (Philippines), SENNHEISER (Germany), SHURE (US), Sony (Japan), Yamaha (Japan), CODA Audio (Germany), and Audix Microphone (US).
Leading players in the sound reinforcement market:
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Bose has technological expertise for developing audio systems to be used in stadiums, worship places, performance theaters, auditoriums, retail stores, restaurants, meeting rooms, etc. For the professional audio segment, the company has adopted the strategy of collaborations with its partners or integrators of audio-visual systems to cater to the requirements of its end users. The technical expertise of Bose in the acoustics and speaker technologies helps it significantly reduce the size of its standard speaker systems and improve the quality of the output sound. The company has launched a number of products that have made it one of the prominent players in the sound reinforcement market. These product launches have also helped the company to expand its customer base and increase its overall revenue. Moreover, Bose has a strong R&D team, which helps it launch innovative products in the market at regular intervals.
HARMAN International has adopted the strategy of partnerships and acquisitions to strengthen its position in the sound reinforcement market. It has acquired a number of small companies such as UREI (US), a manufacturer of professional amplifiers, and AMX LLC (US), a manufacturer of audio/visual control devices, to enhance its position in the market. These strategies have eventually proved to be highly successful for the company as they have established it as one of a few large manufacturers of professional audio equipment. The geographical expansion strategy adopted by HARMAN has resulted in the enhancement of its brand name and an increase in its customer base. This strategy also helped the company understand the requirements of its customers in different geographies. HARMAN also focuses on the strategy of product launches to sustain its position in the market.
Sound Reinforcement Market by Product Type (Microphones, Professional Speakers, Audio Mixers, Power Amplifiers), Format (Digital, Analog), End User (Corporate, Education, Large Venue & Events, Hospitality), Geography - Global Forecast to 2024
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