The Global Home Audio Equipment Market is
expected to reach USD 22.50 billion by 2020, according to a new study by Grand
View Research, Inc. Growing consumer demand for high-quality home theater
experience attributed to increased disposable income is expected to drive the
market over the forecast period. Increasing trend towards deployment of
sophisticated equipment, high-speed data streaming, faster internet
connectivity and internet-exclusive entertainment are expected to proliferate
the need for external audio solutions. Emergence of Bluetooth products coupled
with wireless Blu-ray home theater systems is expected to positively impact
market growth.
Home audio equipment comprises a
wide range of equipment including multi-channel amplifiers, compact audio
system and home radios. Manufacturers of this equipment have been striving to
expand market penetration by innovating visually less intrusive and
user-friendly systems. Therefore, technological advancement in digital
technology with changing media options from conventional to latest systems is
expected to be positively impact home audio equipment market growth over the
next six years. High development cost and fear of hearing loss among the
consumers may hamper market growth through the forecast period. Emergence of
realistic immersive home audio equipment along with better internet connectivity
offers a wide avenue to drive demand for the home audio equipment market.
Browse full research report on Global
Home Audio Equipment Market: http://www.grandviewresearch.com/industry-analysis/home-audio-equipment-market
Further key findings from
the study suggest:
- The home audio equipment market comprises products such as audio systems, home radios, Home Theater-in-a-box (HTiB) and other accessories. The home audio systems segment includes MP3 players, mini disc players, compact audio systems, cassette deck, rack system and CD/DVD players. HTiB products include 5.1, 6.1, 7.1 and 9.1 channels and the segment is expected to witness significant growth over the forecast period. This can be attributed to several benefits associated with this technology such as unrestricted mobility and high quality sound systems.
- Widening consumer base in Asia Pacific markets owing to higher affordability and rapid urbanization trends is expected to significantly drive the home audio equipment industry. Demand for digital home radios driven by growing promotional activities is expected to drive regional market growth. The North American market is characterized by rise in unit sales of flat-panel HD TVs.
- Key companies operating in the market include Sony Corporation, Bose Corporation, LG Electronics, JVC KENWOOD Holdings Inc., Philips, Dolby Laboratories Inc. and Akai. Rising emphasis on vertical integration activities in order to obtain greater product reliability and optimized manufacturing throughput is estimated to be the major growth strategy.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/electronic-devices
Grand View Research has segmented the global home audio
equipment market on the basis of product and region:
Home Audio Equipment Product Outlook (Revenue, USD
Billion, 2012 - 2020)
- Home Theater in-a-Box
- Home Audio Systems
- Home Radios
- Others
Home Audio Equipment Regional Outlook (Revenue, USD
Billion, 2012 - 2020)
- North America
- Europe
- Asia Pacific
- RoW
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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