Home Audio Equipment Market, By Product (Speaker, Soundbar, Home Radio, Home Theater in a Box, Home

Published Date: | Report Code : EQ1946742

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Market Dynamics:

The Home Audio Equipment Market is expected to promise high growth owing to the increasing demand for wireless audio products in recent years. Increasing demand from Applications including household and commercial is expected to drive the growth of the home audio equipment market. This market has witnessed a number of key developments by major companies including Bose Corporation, Dolby Laboratories Inc., LG Electronics Inc., Sony Corporation, Sharp Corporation and others with a focus on organic as well as inorganic growth strategies. Developing regions including the Asia Pacific and the Middle East have been among the high potential markets with high growth in some of the key economies.

Home audio systems are audio electronics used for home entertainment purposes, such as surround sound receivers and shelf stereos. The home audio system mostly excludes standard equipment, such as fitted TV speakers. Home audio equipment is fully-featured, prepared to support other music systems, televisions, and projectors. Progression in technology has not only made this equipment fully-featured but also compact and lightweight. The home audio equipment market is highly competitive and fragmented. Product portfolio expansion through product development is the main focus of vendors in the market.

Segment Insights:

The global home audio equipment market has been growing with the increasing consumer demand for high-quality home theatre experience credited to the increased disposable income. Moreover, the growing trend of IoT and connected devices are driving consumers to purchase connected household entertainment systems. In addition, connecting mobile apps with home audio devices is boosting the global home audio equipment market. Furthermore, devices are now being launched equipped with Bluetooth and Wi-Fi, expanding the adaptability of home audio devices to be operated using smartphones. These factors are fueling the growth of the global home audio equipment market.

Key Factors Impacting Market Growth:

  • Growth of smart homes
  • Increasing adoption of cloud services
  • Growing demand for wireless audio products
  • Risk of damage or loss of hearing capabilities
  • Strict regulations regarding the use of home audio devices
  • The high cost of home theatre systems 

Regional Analysis:

Major regions for the home audio equipment market are estimated to North America, Western Europe, and the Asia Pacific. North America and Western Europe have been traditional markets for home audio equipment market owing to the strong presence of the industrial sector. The industrial sector has been one of the key contributors to the economies in these regions. Major industries in these regions are estimated to be household and commercial. These industries have an established base resulting in stable market demand. Moreover, most of these industries have been witnessing a transition in terms of product development and production methods. These factors are expected to drive the demand for the home audio equipment market in North America and Western Europe region. Major markets by country in these regions include the US, Germany, France, UK, Canada, Spain, and others. 

The Asia Pacific and Middle East region has witnessed tremendous growth of the industrial sector in recent years. Major companies operating in this market have made strategic developments to improve market presence in these regions. In addition to this, some of the fastest growing economies including China and India have been major markets for various end-use industries including building & construction, automotive, healthcare, manufacturing, and so on. Among these industries, household and commercial are estimated to register high demand for home audio equipment market during the forecast period. On the other hand, the Middle East region has witnessed diversification in terms of industrial outlook in recent decades. UAE, Saudi Arabia, Qatar, and others have been instrumental in promoting the development of various industries including building & construction, pharmaceuticals, automotive, and so on. This is expected to drive the growth of the home audio equipment market directly or indirectly in the region. Eastern Europe consisting of Russia and Turkey promises a stable demand for the home audio equipment market during the forecast period. The rest of the World including South America and Africa are estimated to be a developing market with strong potential in the strategic future.

Companies Covered: Bose Corporation, Dolby Laboratories Inc., LG Electronics Inc., Sony Corporation, Sharp Corporation, Panasonic Corporation, JVC Kenwood Corporation, Philips Electronics Ltd., Harman International Industries, Inc. (AKG), Akai Electric Co., Qualcomm Technologies, and Pioneer Corporation...

Market Segmentation:

By Product:

  • Speaker
  • Soundbar
  • Home Radio
  • Home Theater in a Box (HTIB)
  • Home Audio Systems
  • Receiver
  • Others

By Technology:

  • Wired
  • Wireless

By Price Range:

  • Low
  • Moderate
  • High

By Sales Channel:

  • Retail Channel
  • Online/E-Commerce Channel

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Product
    • By Technology
    • By Price Range
    • By Sales Channel
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Product
    • By Technology
    • By Price Range
    • By Sales Channel
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Product
    • By Technology
    • By Price Range
    • By Sales Channel
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Product
    • By Technology
    • By Price Range
    • By Sales Channel
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Product
    • By Technology
    • By Price Range
    • By Sales Channel
  • Rest of the World
    • By Region (South America, Africa)
    • By Product
    • By Technology
    • By Price Range
    • By Sales Channel

Reasons to Buy This Report:

  • Market size estimation of the global home audio equipment market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

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