Home Audio Equipment Market- Global Industry Analysis and forecast 2029

Home Audio Equipment Market is expected to reach US$ 24.56 Bn. by 2029 at a CAGR of 10.45% during the forecast period.
Global Home Audio Equipment Market Drivers and Restrains:
Home audio equipment is a consumer electronics-grade equipment, which recreates the experience of movie theatre by using audio equipment.The manufacturer has reduced focus on built-in sound quality in television sets, is expected to amplify the need for external audio solutions, thus benefiting market growth. Manufacturers of home theater systems are spending on developing the latest innovative technology products. The advancement in home theater technologies such as XBOX 360, SED displays, holographic front projection, enhanced interactive television, and carbon nanotube displays are gaining customer attention as they offer improved entertainment experience, will impelling the home audio equipment market growth during the forecast period.To know about the Research Methodology :- Request Free Sample Report

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

The global home audio equipment market is driven by changing the entrepreneurial ecosystem of various verticals and booming entertainment vertical. Also, growing consumer desire for high-performance music experience coupled with the increasing disposable income is expected to propel the demand for home audio equipment globally. However, Fear of hearing loss is hampering the market growth at the global level. The emergence of realistic immersive home audio equipment is likely to create lucrative opportunities in the global home audio equipment market. This is evidence, as the revenue from the emergence of realistic immersive home audio equipment is estimated to reach approximately xx million by 2029. Increasing security risk and regulations relating to the loss of hearing abilities are expected to the key challenge for the market growth over the forecast period.
Home Audio Equipment Market Segmentation Analysis:
Based on the technology, the speakers segment has led the home audio equipment market in 2018 and is estimated to generate more than US$ xx Mn market revenue by 2029, with a CAGR of xx%. Advancements in technologies, such as Bluetooth, DLNA, and Airplay, are attracting customer attention. High compatibility of these devices with other devices and a large array of options available for the customers are accelerating the sales of these devices.

Soundbar segment is projected to grow at the CAGR of xx% during the forecast period. The capability of soundbars to stream and connect with other portable devices containing smartphones and tablets are gaining customer attention. As per the NPD Group, about xx% of the total soundbar owners connect these devices to at least one portable device. The demand of new television technologies, such as 4K & 8K, and decreasing selling prices of these devices are estimated to fuel the adoption of soundbars, which are driving the market growth.
Home Audio Equipment Market Regional Analysis:
Geographically, the home audio equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America was accounted to US$ xx Mn in 2022 for home audio equipment market and is expected to reach US$ Mn end of 2029, with a CAGR of xx%, owing to an increase in unit sales of flat-panel HD TVs in the region. Penetration of IoT technology and growing number of smart homes are anticipated to drive the regional market during the forecast period.

The market in Asia Pacific is expected to expand at a high CAGR of 5.7% during the forecast period thanks to rapid growth in electronics industry in the region, especially in the countries such as India, China, Japan and Korea. The rise in living standards of the population and existence of most home audio equipment manufacturers in the region, will impelling the regional market growth. Moreover, the rising investments in research and development activities for the introduction of advanced home audio equipment is predicted to accelerate the growth of this region in the near future.

In 2022, Europe held the 29.6% market share in the home audio equipment market followed by North America due to the rising adoption of technologically advanced entertainment products in the regions as customers in Europe are early adopters of novel technologies like Blu-ray players, smartphones and TVs.

A report covers the recent development in market for the home audio equipment market e.g, recently, Sonos launched a speaker enabled with Google assistant and its Alexa-enabled smart speaker.

The objective of the report is to present a comprehensive analysis of global home audio equipment market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding global home audio equipment market dynamics, structure by analyzing the market segments and project the global market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the global market make the report investor’s guide.
Scope of the Global Home Audio Equipment Market : Inquire before buying



Global Home Audio Equipment  Market


Base Year
2022
Forecast Period
2023-2029


Historical Data
CAGR
Market Size in 2022
Market Size in 2029


2018 to 2022
10.45%
US$ 12.24 Bn
US$ 24.56 Bn


Segments Covered


by Product
Home theatre in-a-box
5.1 channel
6.1 channel
7.1 channel
9.1 channel
Home audio systems
Home radios
Other home audio accessories
by Technology
Wired
Speaker
Soundbar
Home theater-in-a-box
Receiver
Wireless
Speaker
Soundbar
Home radio
Receiver
by Application
Television
Computers
Others
by Distribution Channel
Supermarkets and Hypermarkets
Specialty Stores
Convenience Stores
Online
Other


Regions Covered


North America
United States
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Sweden
Austria
Rest of Europe
Asia Pacific
China
S Korea
Japan
India
Australia
Indonesia
Malaysia
Vietnam
Taiwan
Bangladesh
Pakistan
Rest of APAC
Middle East and Africa
South Africa
GCC
Egypt
Nigeria
Rest of ME&A
South America
Brazil
Argentina
Rest of South America



Home Audio Equipment Market Key Players are:
1.Akai Electric Co
2.Audio Partnership Plc
3.Bose Corporation
4.Dolby Laboratories Inc.
5.DTS Inc.
6.JVC Kenwood Holdings Inc.
7.Koninklijke Philips Electronics NV
8.LG Electronics Inc
9.Panasonic Corporation
10.Sanyo Electric Co. Ltd.
11.Nakamichi Corporation
12.Onkyo Corporation
13.Pioneer Corporation
14.Sharp Corporation
15.Sony Corporation.
16.Samsung Electronics
17.Vistron Audio Equipment
18.Harman International Industries
19.Intex
20.Niles Audio
21.Philips
22.Qualcomm Technologies
23.Acoustic Research, Inc.
24.Altec Lansing
25.Boston Acoustics
26.Voxx International

Frequently Asked questions

1. What is the market size of the Global Home Audio Equipment Market in 2022?
Ans. The market size Global market in 2022 was US$ 12.24 Billion.

2. What are the different segments of the Global Home Audio Equipment Market ?
Ans. The Global market is divided into Product and Technology.

3. What is the study period of this market?
Ans. The Global market will be studied from 2022 to 2029.

4. Which region is expected to hold the highest Global market share?
Ans. The Asia Pacific dominates the market share in the market.

5. What is the Forecast Period of Global Home Audio Equipment Market?
Ans. The Forecast Period of the market is 2023-2029 in the market.