Global Home Audio Equipment Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Home Audio Equipment Market Trends, Drivers, Applications, and Forecast till 2028” is an upcoming report by MarketResearch.biz. In order to provide insightful details regarding the global home audio equipment market, the market report has been divided based on product type, technology, application, distribution channel, and region/ country.

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Home Audio Equipment: Product Overview

Home audio equipment is an audio electronic system installed inside households and are intended to imitate the theatre sound performance. The home audio equipment includes shelf stereos, radio receivers, AV receivers, microphones, tape recorders, smart speakers, and sound bars.

Growth Supporting and hindering Factors for Home Audio Equipment Market

Increasing adoption of hardware devices for audio such as loudspeakers, headphones, Bluetooth devices, and others for personal and residential use is a key factor expected to drive growth of the target market in years to come. Easy availability of electronic products in different sizes and shapes for house use in stores and on E-commerce websites and M-commerce platforms is one of the prominent factors fueling market growth. Moreover, the ever-growing demand for innovative products by consumers is pushing manufacturers to develop innovative audio solutions for internal and external applications and sustain in the market, which in turn is going to propel the home audio equipment market growth.

In addition, increasing use of audio equipment for numerous applications in the gaming or sports industry and for events, special occasions, and festivals is another factor expected to boost growth of the home audio equipment market over the 10-year forecast period. Furthermore, rising income levels, growing inclination of younger generation towards music, increasing investments in R&D activities on development of enhanced home audio equipment are some of the factors anticipated to fuel home audio equipment market growth. Increasing adoption of 3D audio systems is an ongoing trend observed in the global market. This trend is anticipated to gain popularity and support market growth.

However, issues on implementation of audio in the virtual room, and rising hearing issues because of constant use of headphones are factors that could hinder target market growth.

Segment Analysis: Global Home Audio Equipment Market

By Product Type:

Amid the product type segments, the home theatre in-a-box segment is anticipated to register significant growth rate in the target market, due to product offerings such as various components including speakers, surround sound receiver, and, also in some cases Blu-ray/ CD/DVD players.

By Technology:

Among the technology segments, the wireless segment is projected to register higher revenue growth, owing to changing consumer demands for high-quality sound without wires, attractive designs and sizes, and unrestricted flexibility. Thus, rapid innovations and increasing R&D activities have boosted demand for the Bluetooth speakers and this is supporting target market growth. In addition, consumer’s preference for stylized designs and rising demand for wireless Blu-ray home theater systems are some of the major factors driving growth of the segment.

By Application:

Among the applications of home audio equipment, the television segment is anticipated to record highest revenue share in the market, owing to high inclination towards usage of televisions in households and commercial places such as restaurants, hotels, sports bars, etc.

Regional Analysis: Global Home Audio Equipment Market

The Asia Pacific market is anticipated to record highest revenue share and is projected to register highest growth in terms of value in the target market, attributable to strong presence of prominent home audio equipment manufacturers in countries such as China, South Korea, and Japan. The market in North America is projected to register moderate growth rate in terms of value in the home audio equipment market, due to easy availability of technologically advanced products and high consumer awareness regarding the benefits and features of the products across various countries in the region. The market in Europe is anticipated to contribute moderate revenue share in the global home audio equipment market, followed by markets in MEA and Latin America.

Global Home Audio Equipment Market Segmentation:

Segmentation by Product Type:

• Home Theatre in-a-box
  • 1 channel
  • 1 channel
  • 1 channel
  • 1 channel
• Home audio systems
• Home radios
• Other home audio accessories

Segmentation by Technology:

• Wired
• Wireless

Segmentation by Application:

• Use for TVs
• Use for Computers
• Others

Segmentation by Distribution Channel:

• Supermarkets and Hypermarkets
• Specialty Stores
• Convenience Stores
• Online Stores

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

• Akai Electric Co. Ltd.
• Dolby Laboratories, Inc.
• DTS, Inc.
• JVC KENWOOD Corporation
• Koninklijke Philips N.V.
• LG Electronics Inc.
• Panasonic Corporation
• SANYO Electric Co., Ltd.
• Nakamichi Corporation
• ONKYO Corporation