Sound system market gaining ground

Burgeoning economic growth, countrywide electrification, and progress of the ICT across Bangladesh have created a sizable market for sound reinforcement systems, better known as sound systems, which experiences significant growth in recent years, said the traders.

Over decades, a sound system in Bangladesh is usually comprised of simple megaphones or one or two horns along with an amplifier and a microphone. But now a simple sound system comprises quality speakers and a mixing console and people look for the latest technology for these gadgets, they said.

The demand for modern sound systems followed a craze among the young generation for pop and rock music which later spread over to all other sectors.

Now it became popular in all big and small events, cultural functions, marriage and other ceremonies, even political rallies and religious events like waz mahfils.

Besides, there is a growing demand for the sound system at educational institutions, places of worship like mosques and temples, hotels and restaurants and corporate houses.

Importers and traders estimate that they import and sell sound system worth Tk 1,200 crore to 1,500 crore but nobody could provide a concrete figure on the market size as there is no formal body of importers or sellers of the products.

The National Board of Revenue (NBR) data shows Bangladesh imported electrical equipment including sound recorders and reproducers and television worth Tk 27,425.05 crore in the 2020-21 fiscal year which was Tk 24,431.28 crore in 2019-20 FY and Tk 33,924.97 crore in 2018-19 fiscal year while Tk 36,384.42 crore in 2017-18 and Tk 21,960.61 crore in 20116-17 FY.

“Before the Covid-19 pandemic, we sold sound systems worth Tk 15 lakh to Tk 20 per month but the sales remained totally stopped during the pandemic. Now the market is gaining ground gradually” said Md Monjil Hossain, director (planning and marketing) of Power World Crop Limited at Stadium Market.

“Sound reinforcement system is now getting popular for the smooth and melodious sound for using conference rooms, live meeting, live concert, restaurant and home use, said Subrata Mondal, marketing officer of Melody and Co.

Access to the internet triggered demand for sound reinforcement systems in schools and colleges and right now there are around 1, 10,000 multimedia classrooms across the country, according to the Aspire to Innovate Programme under the Prime Minister’s Office.

Md Abdul Motin, proprietor of Motin Sound System at Patuatuli said nearly 3,30,000 mosques across the country use the traditional sound system while a good number of mosques in urban areas now prefer sound reinforcement systems that boost up the market.

Traders said the market is totally import-dependent while Chinese products are dominating it. Most of the sound systems are imported from China, India, Malaysia, the USA, Mexico, and Italy, they said.

Md Ismail Hossain imports sound system components including mixing consoles, amplifiers, microphones and speakers. He told The Business Post that the demand for the sound system is gradually increasing due to the changing lifestyle of the people. “Once people used traditional sound systems but now modern sound systems are gaining popularity,” he added.

A pair of DJ sound boxes are retailed at Tk 35,000 to Tk 1,70,000 while a set of home theatre is sold at Tk 3,000-70,000 and a BlueTooth speaker price range Tk 180-2,000.

Giant speakers which are used for larger events like concert, popular as trolley speakers among the stakeholders, is sold at Tk 2,50,000 to Tk 4,50,000.

The Stadium Market is the hub of these products though those are available at Patuatuli and Islampur aplenty.

Md Alamin, owner of Alamin Decorator and Sound System in Tangail, came to Stadium Market to buy some speakers for his business. “Sound system has become an integral part of decorator business nowadays. Every decorator now has a wing for the sound system,” he said.

Md Habib of Kishoreganj said he had been working for five years as a sales representative in the sound system market and for the past three years he rents out sound systems. “Now, I have three employees and during the festival season and winter I need three to five additional workers for conducting various events.”