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 Home Audio Equipment Market: https://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: https://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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