Global Home Audio Equipment MarketPosted by Mayuri Kathade. on February 4th, 2021 Global Home Audio Equipment Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2026, at CAGR of 5.9% during forecast period of 2020 to 2026 Global Home Audio Equipment Market Drivers and Restrains: Home audio equipment is a consumer electronics-grade equipment, which recreates the experience of movie theatre by using audio equipment. The manufacturer has reduced focus on built-in sound quality in television sets, is expected to amplify the need for external audio solutions, thus benefiting market growth. Manufacturers of home theater systems are spending on developing the latest innovative technology products. The advancement in home theater technologies such as XBOX 360, SED displays, holographic front projection, enhanced interactive television, and carbon nanotube displays are gaining customer attention as they offer improved entertainment experience, will impelling the home audio equipment market growth during the forecast period. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. The global home audio equipment market is driven by changing the entrepreneurial ecosystem of various verticals and booming entertainment vertical. Also, growing consumer desire for high-performance music experience coupled with the increasing disposable income is expected to propel the demand for home audio equipment globally. However, Fear of hearing loss is hampering the market growth at the global level. The emergence of realistic immersive home audio equipment is likely to create lucrative opportunities in the global home audio equipment market. This is evidence, as the revenue from the emergence of realistic immersive home audio equipment is estimated to reach approximately XX million by 2026. Increasing security risk and regulations relating to the loss of hearing abilities are expected to the key challenge for the home audio equipment market growth over the forecast period. Global Home Audio Equipment Market Segmentation Analysis: Based on the technology, the speakers segment has led the home audio equipment market in 2018 and is estimated to generate more than US$ XX Mn market revenue by 2026, with a CAGR of XX%. Advancements in technologies, such as Bluetooth, DLNA, and Airplay, are attracting customer attention. High compatibility of these devices with other devices and a large array of options available for the customers are accelerating the sales of these devices. Soundbar segment is projected to grow at the CAGR of XX% during the forecast period. The capability of soundbars to stream and connect with other portable devices containing smartphones and tablets are gaining customer attention. As per the NPD Group, about XX% of the total soundbar owners connect these devices to at least one portable device. The demand of new television technologies, such as 4K & 8K, and decreasing selling prices of these devices are estimated to fuel the adoption of soundbars, which are driving the market growth. Global Home Audio Equipment Market Regional Analysis: Geographically, the home audio equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America was accounted to US$ XX Mn in 2019 for home audio equipment market and is expected to reach US$ Mn end of 2026, with a CAGR of XX%, owing to an increase in unit sales of flat-panel HD TVs in the region. Penetration of IoT technology and growing number of smart homes are anticipated to drive the regional market during the forecast period. The market in Asia Pacific is expected to expand at a high CAGR of 5.7% during the forecast period thanks to rapid growth in electronics industry in the region, especially in the countries such as India, China, Japan and Korea. The rise in living standards of the population and existence of most home audio equipment manufacturers in the region, will impelling the regional market growth. Moreover, the rising investments in research and development activities for the introduction of advanced home audio equipment is predicted to accelerate the growth of this region in the near future. A report covers the recent development in market for the home audio equipment market e.g, recently, Sonos launched a speaker enabled with Google assistant and its Alexa-enabled smart speaker. The objective of the report is to present a comprehensive analysis of global home audio equipment market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding global home audio equipment market dynamics, structure by analyzing the market segments and project the global home audio equipment market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the global home audio equipment market make the report investor’s guide. Global Home Audio Equipment Market, by Product Type: • Home theatre in-a-box • Wired • Asia Pacific • Akai Electric Co For More Information Visit @:https://www.maximizemarketresearch.com/market-report/global-home-audio-equipment-market/45128/
This Report Is Submitted By : Maximize Market Research Company Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Like it? Share it! More by this author |