Home Audio Equipment Market

Home audio equipment is an audio electronic system installed inside household and made for home entertainment use. They include smart speakers, microphones, home theatre and sound bar etc. Increasing adoption of hardware devices such as speakers, Bluetooth devices are driving the market growth during the forecast period. Easy availability of electronic products in different shapes for house use in stores and on e-commerce websites is also fueling the market growth. Moreover, manufacturer of these devices are also focuses on developing innovative products in order to gain competitive edge in the market.

Market Dynamics

Increasing demand for smart technologies such as multi-room solutions and continuous improvement in the in-house entertainment systems is expected to drive market growth during the forecast period. For instance, Sonos Inc., American based developer and manufacturer of the speaker and other products introduced Sonos Inc. bridge that allows users to connect players with a wireless router to play music from the connected device. Consumers are changing their preference to interconnected devices such as multi-room speakers from standalone devices in order to enhance their entertainment experience. Further, the growing penetration of smart devices such as smart speakers is encouraging people to opt for advanced technology-based systems to get enhanced experience. Companies are also focusing on investing in developing products with advanced technologies such as virtual assistant enable speakers. For instance, in October 2017, Sonos Inc., American based developer and manufacturer of the speaker and other products launched Alexa enabled smart speakers.

Rising demand for home theaters and LCDs can provide major business opportunities in the global home audio equipment market. Home theaters have witnessed significant demand in the recent past, which is a combination of home entertainment audio-visual systems that is intended to offer a theater-like experience. Since the disposable income of consumers is increasing, they are preferring these sophisticated and advanced home audio equipment for a better experience. Moreover, this system is often complemented with LCD or LEDs, in order to provide a theater-like experience. Major companies in the market can capitalize on these opportunities by introducing novel products and gain a competitive edge in the market. Thus, in turn, demand for home audio equipment is increasing during the forecast period.

Market Taxonomy

This report segments the global home audio equipment market on the basis of product and region. On the basis of product, the global home audio equipment market is segmented into Home Theater in-a-Box (5.1 Channels 6.1 Channels, 7.1 Channels and 9.1 Channels), Home Audio Systems, Home Radios and Other Home Audio Accessories. On the basis of region, the global home audio equipment market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

Key features of the study:

• This report provides an in-depth analysis of the global home audio equipment market and provides market size (US$ billion) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global home audio equipment market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered in the global home audio equipment market are Akai Electric Co. Ltd, Nakamichi Corporation, Dolby Laboratories Inc., Sanyo Electric Co. Ltd., DTS Inc., Bose Corporation, JVC KENWOOD Holdings Inc., Panasonic Corporation, Koninklijke Philips Electronics NV, and LG Electronics Inc.
• The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
• The global home audio equipment market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global home audio equipment market.

Detailed Segmentation:

• Global Home Audio Equipment Market, By Product:
• Home Theater in-a-Box
• 5.1 Channels
• 6.1 Channels
• 7.1 Channels
• 9.1 Channels
• Home Audio Systems
• Home Radios
• Other Home Audio Accessories
• Global Home Audio Equipment Market, By Region:
• North America
• Europe
• Asia Pacific
• Latin America
• ROW
• Company Profiles
• Akai Electric Co. Ltd *
• Company Overview
• Product Portfolio
• Financial Performance
• Key Strategies
• Recent Developments
• Future Plans
• Nakamichi Corporation
• Dolby Laboratories Inc.
• Sanyo Electric Co. Ltd., DTS Inc.
• Bose Corporation
• JVC KENWOOD Holdings Inc.
• Panasonic Corporation
• Koninklijke Philips Electronics NV
• LG Electronics Inc.

 *Browse all the market data tables and figures on “Global Home Audio Equipment Market- Forecast to 2027”