The Global Market for Home Audio Equipment is Projected to Reach US$20.4 Billion by 2022

Rise of Digital Smart Homes with Multi Room Audio Video Entertainment to Drive Global Demand for Home Audio Equipment, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Home Audio Equipment market. The global market for Home Audio Equipment is projected to reach US$20.4 billion by 2022, driven by the rise of smart homes with digital entertainment fixtures and growing popularity of wireless music streaming and the ensuing demand for music streaming equipment for the whole home. 

Home Audio Equipment consists of audio devices such as audio systems, home radios, Home Theater in a Box (HTiB) and various home audio accessories like set top boxes, headphones, A/V receivers, speakers, soundbars, subwoofers, amplifiers, and microphones, among several others. Continuous technological innovations are resulting in the introduction of new products with new features, functions and capabilities for delivering a seamless user experience. Consumers are increasingly preferring audio systems with superior visual appearance, innovative features, and enhanced aesthetic design. Rising demand for various portable audio equipment capable of integrating USB drives and streaming audio content from the Internet is expected to drive growth in the market. Latest advancements in digital technology along with evolution of media options are also forecast to contribute towards the growth in demand for contemporary systems such as speaker docks and soundbars for audio playback.

In recent years, the market witnessed increased prominence of 3D Blu-ray audio players featuring Wi-Fi connectivity along with sound platforms within one-box audio solutions. Increasing adoption of multi-channel amplifiers and surround sound speakers is driving the demand for sophisticated audio systems. Superior sound quality and unrestricted mobility offered by HTiB are driving the popularity of user-oriented home theater systems. In addition, innovative designs and developments are driving manufacturers to offer next-generation technologies such as 4K compatibility, 3D pass-through and audio return channel. On the other hand, high-end models with advanced features like 5-disc platter, 1080i video resolution, HDMI inputs and USB connectivity are anticipated to witness strong market penetration. The market is poised to benefit from home audio networking, also termed as whole house or whole home audio it represents a network of various audio devices like stereo, speakers, TV and computer distributed in a house. Based on enhanced functionality, advanced features and ergonomic design, digital networked audio is capable of addressing limitations associated with conventional analog audio systems. The convergence of consumer electronics and PCs has prompted manufacturers to incorporate more audio and video capabilities to computers for strengthening their market positions. Latest technologies including Barco Auro, Dolby Atmos and DTS Neo with spherical audio for standard acoustic spaces are expected to transform the audio experience.

As stated by the new market research report on Home Audio Equipment, the United States represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 5.9% in value terms over the analysis period led by factors such as rising standards of living and disposable incomes; growing base of affluent middle class population leading digitalized lifestyles; rise in the number of households with digital entertainment gear; strong proliferation of broadband Internet, mobile computing devices, increased adoption of cloud music and on-demand music and the resulting need to integrate wired and /or wireless home audio systems to access streaming music across the entire home.  

Major players covered in the report include Bose Corp., Boston Acoustics, Bowers & Wilkins, Creative Technologies, Ltd., Denon Electronics (USA), LLC, Harman International Industries, Inc., JVCKENWOOD USA Corp., LG Electronics, Nakamichi Corp., Panasonic Corp., Polk Audio, Samsung Group, Samsung Electronics Co., Ltd., Sharp Corp., Sonos, Inc., Sony Corp., Velodyne Acoustics, Inc., VIZIO, Inc., VOXX International Corp., Klipsch Group, Inc., Yamaha Corp., and Yamaha Corporation of America, among others.

The research report titled "Home Audio Equipment: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in value terms (US$ Thousand) for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America). The report also analyzes the global and regional markets for Home Audio Equipment by product segments - Home Audio Systems, Home Audio Components, Home Theater in a Box (HTiB) and Home Radios. Volume analytics (Thousand Units) are provided for all geographic markets by the segments - Home Audio Systems and Home Theater in a Box.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

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