This market research report segments the global home audio equipment market by product (home theaters, soundbars, Blu-ray and DVD players, and others) and by geography (EMEA, APAC, and the Americas). Leading vendors analyzed in this market report are Bose, LG, Qualcomm Technologies, Sony, and Yamaha.
Technavio has released updated information on the home entertainment market, with the publication of its new market research report, global home audio equipment market. The global home audio equipment market is expected to grow at CAGR of 11% between 2015 and 2019. The growing number of in-house celebrations and events is leading to the higher adoption of speakers, Hi-Fi systems, and karaoke. APAC is estimated to be the only region to show strong growth during the forecast period. This region currently accounts for a mere 20% of the total market share, but factors like the increase in disposable income of the populace in APAC are expected to boost its market share in the next four years.
“As the notion of smart homes is gaining momentum, the demand for smart electronics is one the rise. Consumers are opting for electronic devices that are connected to the home network and can interact with each other. Home audio systems play a major role in the functioning of smart homes as they replace the audio system in smart TVs and gaming consoles. They can connect with a projector and provide the effect of a theater. Also, home audio equipment various vendors are collaborating with smart TV manufacturers to bundle home theater and soundbars with smart TVs. Retailers are bundling audio devices with TV units, home theater systems, and media adapters to increase revenue,” says Soumya Mutsuddi, , Lead Analyst, Media & Entertainment, Technavio Research.
Technavio’s market research analyst has estimated eminent factors, such as the wireless streaming of audio content, to drive market growth during the forecast period. Most audio systems are now equipped with wireless support such as Bluetooth and can wirelessly connect to portable devices like MP3 players, smartphones, tablets, and laptops. The ability of these devices to easily stream audio content wirelessly is expected to bolster the prospects for growth in this market during the forecast period.
The leading vendors in the global home audio equipment market include Bose, LG, Qualcomm Technologies, Sony, and Yamaha. This market is highly competitive due to the presence of numerous vendors who constantly strive to gain market prominence through product extensions. Vendors in this market compete on the basis of performance, innovation, product features, quality, low cost, selling price, distribution, and financial stability to gain maximum traction during the forecast period.
A more detailed analysis is available in the Technavio report, Global Home Audio Equipment Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
Other related reports:
- Global Home Audio Market 2014-2018
- Global Networked Audio Products Market 2015-2019
- Global Home Entertainment Equipment Market 2012-2016
- Home Entertainment Market in the US 2015-2019
Further readings:
