According to the latest report by IMARC Group, titled “Home Audio Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global home audio equipment market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026.
Home audio equipment refer to the electronic audio systems that are installed across households to imitate the sound performance of a theatre. They include numerous devices and technologies, such as smart speakers, shelf stereos, soundbars, mixers, microphones, speaker bars, A/V receivers, Blu-ray layers, etc. Home audio equipment provide sophisticated and reliable performance and can be utilized to record audio tracks. They can also augment or replace conventional devices like TV speakers and television sets. Home audio equipment are used across the consumer electronics industry.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends:
The escalating demand for high-performance theatre experiences at home, owing to the elevating disposable income levels of consumers, is one of the key factors driving the home audio equipment market. Apart from this, the rising popularity of portable audio equipment, which can stream high-quality audio content from integrated USB drives and the internet, is further stimulating the market growth. Moreover, the rapid development of speaker docks and dedicated networked audio devices is acting as another significant growth-inducing factor. Besides this, several manufacturers and suppliers are expanding their market presence by making these systems visually less intrusive and user-friendly, which is also augmenting the global market. Furthermore, recent advancements in Artificial Intelligence (AI) technologies are catalyzing the demand for smart voice-based soundbars and various virtual digital assistants, including Alexa, Siri, Google Home, Cortana, etc. This, in turn, is expected to fuel the home audio equipment market over the forecasted period.
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Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- LG
- Qualcomm
- Sony Corporation
- Yamaha Corporation
- Bose Corporation
Breakup by Product Type:
- Blu-ray and DVD players
- Home theatre in-a-box (HTIB)
- Soundbars
Breakup by Application:
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Convenience Stores
- Online
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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