Europe Speaker Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2024-2032)

Europe Speaker Market Growth

Rising demand for home theatre experience while watching movies and TV shows, rising adoption of smart home speakers such as Amazon Echo, and burgeoning popularity of wireless speakers due to their hassle-free connectivity are some of the prominent drivers for the growth of Europe speaker market.

The expansion of the gaming sector in Europe has also led to the development of a profitable market for speakers as high-end speakers can enhance the gaming experience. Europe is the home to approximately 715 million gamers, ranking just behind the Asian region, which paves the way for the growth of cutting-edge speakers in the market.

According to Europe speaker industry analysis, there is a growing interest in high-resolution audio and hi-fi speaker systems among audiophiles, as they provide an unparalleled listening experience. High-resolution audio consists of audio formats that provide a higher quality sound than standard CD quality such as FLAC, WAV, and DSD, which offer greater detail, clarity, and depth in the music.

Key Trends and Recent Developments

The growing need for portable speakers, integration of AI technology, eco-friendly initiatives, and preference for home theatres are accelerating the Europe speaker market value.

June 2024

Pristine Audio, a leading supplier of speakers globally, announced the launch of its new S5t tower speakers and promoted the product for the first time among European distributors. The speakers are THX-certified and bridge the gap between A/V speakers for large homes and full-size models for movie theatres.

May 2024

Apple’s new Beats Pill Bluetooth speaker broke its cover in Europe with a listing on the company’s European regulatory website. The model number was specified as A3211, with features including operation through Beats OS and a supplied charging cable with a USB-C port to meet the regulations of the European Union and Apple’s standards.

May 2024

Bose, one of the leading suppliers of music speakers in Europe, announced its new Bluetooth speaker model, SoundLink Max ideal for large room settings or outdoor entertainment. The model was considered Bose’s largest Bluetooth speaker so far, weighing around 2.27 kgs with a width extending 26 centimetres.

February 2024

Amadeus introduced three new models of its A 470 ‘Avignon Columns’ series of speakers which include the ‘Straight’, ‘Focus’, and ‘Wide’ versions. The speakers offer broadband music reinforcement by combining Purifi audio co-developed drivers and high-quality planar ribbons to meet high-performance needs.

Growing Tourism Sector Propelling the Demand for Portable Speakers in Europe

The growth of the tourism industry in Europe is propelling the demand for compact, portable speakers ideal for travelling purposes. Further, these speakers operate on rechargeable batteries and do not require a constant electricity supply, making their use relatively more flexible. Europe’s tourism industry trends suggest that there were approximately 1.1 billion trips recorded in the region during 2022, a 23% rise since the previous year. As the growth trend continues, the speaker demand, especially for portable speakers, is expected to surge during the coming years.

Advancements in AI Technology Leading to an Increased Adoption of Smart Voice Assistance Speakers

Technological advancements in artificial intelligence have led to an increased adoption of smart speakers by the tech-savvy European population. The growing integration of smart appliances into homes and people’s day-to-day lives has enabled them to use popular voice assistant speakers such as Alexa, Google Assistant, and Apple Homekit more frequently. With a growing preference for high-tech devices, Europeans are expected to spend increasingly on smart speakers, thereby raising the overall Europe speaker market revenue.

Sustainability Concerns Prompting Market Players to Invest in Eco-Friendly Innovations

Growing environmental concerns are prompting market players to come up with innovative solutions to reduce e-waste generated from discarded old speakers. For instance, the U.K.’s Raspberry Pi Foundation came up with a single-board computer system that can repurpose an old speaker into a wireless Bluetooth speaker device using a few added components. Such innovative solutions are enhancing the sustainability of the speaker industry in Europe for the long term, providing growth and stability to key market players.

Preference for Home Theatres Increasing the Sale of Large-Scale Speakers and Soundbars

Growing ownership of luxury homes owing to an increase in disposable income has raised the preference for integrated home theatres in Europe. This has propelled the demand for large-scale speakers and soundbars in the region, encouraging market players to enhance the manufacturing and distribution of such products. For instance, Sony UK recently renewed its BRAVIA brand for theatre home audio products to provide an immersive cinematic experience to users.

Europe Speaker Industry Segmentation

“Europe Speaker Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Wired Speaker
• Wireless Speaker

Market Breakup by Application

• Consumer Electronics
• Professional Audio
• Automotive
• Others

Market Breakup by Country

• United Kingdom
• Germany
• France
• Italy
• Others

Europe Speaker Market Share

Based on application, the market is divided into consumer electronics, professional audio, and automotive, among others. The consumer electronics sector occupies a substantial market share due to the rising popularity of smart speakers such as Amazon Echo and Google Home. These devices offer great compatibility with voice assistants and smart home networks, fuelling their demand in everyday life. Moreover, the rising consumption of digital media, including podcasts, audiobooks, and video streaming, has aided the demand for consumer audio devices.

Leading Companies in the Europe Speaker Market

The market players are developing high-res audio speakers to gain a competitive edge in the market.

• Sony Corporation
• Samsung Electronics Co. Ltd.
• Bose Corporation
• Sonos, Inc.
• LG Corporation
• Panasonic Holdings Corporation
• Apple, Inc.
• Amazon.com Inc.
• Alphabet Inc.
• Marshall Group AB
• Others