Loudspeakers are the personality part of any HiFi system. They are available in many different sizes, from small mountable satellite speakers, to bookshelf speakers, to large floor standing speakers. They also utilise a variety of different technologies including traditional cone drivers to more esoteric sound production methods such as horns, electrostatic and ribbon transducers.
Because the Loudspeakers are responsible for the final step in the reproduction process, they play a very special role. They interact directly with both the response of the room that they are situated in, as well as the listener's ears based on direction, distance, height and separation.
Loudspeakers also differ greatly between manufacturers and models. All loudspeakers impart a certain amount of colour and character on the sound. Some are more coloured whilst others aim to be as transparent as possible. While some listeners prefer loudspeakers with a bright and edgy sound, others prefer a warmer or more balanced response. The only way to know which you prefer is to listen to different speakers and use your ears to decide.