Professional Power Amplifiers Poised for Long-Term Profitability
Professional power amplifiers continue to gain momentum after a pandemic-induced poor performance in 2020. The market achieved a global value of $668 million in 2022, according to Futuresource Consulting’s latest industry report, and is on track to exceed pre-pandemic levels this year, with a projected market value of $753 million.
“After a rough ride, component and supply chain issues are now being resolved,” says Grant Youngman, Head of Pro Audio, Futuresource Consulting. “Some products have been redesigned around easier-to-obtain components, and supply chains have also been reconfigured. Overall, the consensus among suppliers and channels is that the necessary changes have been made. All those niggling component and supply chain problems will soon be in the rearview mirror.”
Product differentiation expands beyond sound quality
Technology innovations and advancements have led to almost every amplifier on the market being able to deliver high-quality sound across the entire frequency spectrum. As a result, this is no longer a differentiator. Futuresource notes that USPs are now orbiting around a combination of power, size and ease of use.
“It’s all about delivering more power at a similar or lower price, presenting the same capabilities in a smaller package, and offering products that are easier to install or easier to manage,” says Youngman. “Vendors need to be making noise in at least two of these three camps, or they’ll come up against a wall of indifference.”
Venues take sound to the next level
As consumer-facing brands continue to search for that extra edge, more of them are placing a greater emphasis on professional audio to enhance the customer experience. Amusement parks, theatres, hotels, restaurants, houses of worship, stores, nightclubs and even corporates are all demanding more of sound engineers, pro-audio consultants and systems integrators. Stage shows are using immersive sound or surround sound to make the production come alive, and stadia are combining large video displays and high-end sound systems to make sporting events more entertaining.
For amusement parks, sound is playing a key role in virtual reality, augmented reality and gamification. These innovative experiences allow guests to immerse themselves in surreal environments and interact with digital characters. Even retail outlets are going beyond basic installations for background music. The power of music to influence mood is causing some high-end stores to explore ways of tailoring music to individual tastes.
Network-capable amplifiers gaining traction
Networking and connectivity have also become an essential part of professional audio systems, with power amplifiers integral to the ecosystem. Pro audio networks allow sound engineers to monitor, maintain and control audio components remotely, and have become essential for large live performances and installation projects alike.
“With all this action across a wide range of verticals, we expect the professional power amplifier market to continue to climb,” says Youngman. “Our forecasts are pointing to a 2.8% CAGR for volume and a 7% CAGR for value between 2022 and 2027. With the right strategies, savvy market players will be able to manoeuvre themselves into positions of long-term strength.”