Press release
Home Audio Equipment Market 2018-2024 By Top Players: Acoustic Research, Inc., Akai, AKG, Altec Lansing, Anthem, Bose Corporation, Boston Acoustics, Cambridge Audio, Creative Labs, Denon, Devialet, Edifier, Fluance, , Koninklijke Philips N.V., LG Electron
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In 2011, Wireless Speaker and Audio Association was formed to address wireless applications in home-based theater environment. The standardization is supported by major vendors such as Bang & Olufsen, Polk, & Klipsch, component suppliers such as Pioneer & Sharp, and chip makers such as NXP Semiconductors & Silicon Image.
With the advancements in the technology, customers can buy speakers without complicated racks & components that deliver desired quality of sound. Growing focus on wireless capabilities in these devices is gaining consumer attention and the manufacturers in the industry are developing products that appeal to the customers, thus aiding the home audio equipment market. For instance, Bose Corporation recently launched its wireless speaker, SoundTouch 10, that can be operated through smartphones and costs USD 200. According to BestBuy, the number of wireless networked soundbars sold has increased two-fold in the last few years.
World Home Audio Equipment Market is set to grow from its current market value of $19 billion to more than $20 billion by 2024
Industry Growth drivers –
• Increasing focus of manufacturers towards design and ergonomics of the products
• Penetration of IoT technology in U.S.
• Growing number of smart homes in North America
• Increasing consumer preferences towards technologically advanced products in Europe
• Booming electronics industry in China and India
• Flourishing e-commerce sector in Asia Pacific and Latin America
• Increasing disposable income and high consumer spending in Asia Pacific and Latin America
• Growing inclination towards high-end products in Middle East & Africa
Growing popularity of technologically advanced products such as voice-enabled speakers are expected to challenge the traditional speakers and soundbar growth over the forecast period. Companies in the traditional audio device segment are swiftly upgrading to voice-enabled devices to remain in the competition. For instance, in October 2017, Sonos launched Sonos One with a built-in Alexa assistant. The company has also announced the launch of its Google voice assistant-enabled speaker in 2018.
The manufacturers of home theater systems are investing in developing latest advanced technology products. Development of technologies such as SED displays, XBOX 360, holographic front projection, carbon nanotube displays, and enhanced interactive television are gaining consumer focus as they offer enhanced entertainment experience, thus fueling the home audio equipment market growth.
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The flourishing electronics industry in Asia Pacific is expected to positively impact the home audio equipment market growth. The presence of large number of players in the region enables the production of devices at low costs, thus gaining high consumer focus. Growing disposable income and increasing consumer spending on luxury devices is expected to provide growth opportunities in Asia Pacific, particularly in countries including India and China.
Growing number of smart homes in developed economies including the U.S., UK, and Germany is expected to bode well for the technologically advanced products in the home audio equipment market. The consumers in these regions are increasingly demanding technologically advanced products such as smart speakers that provide them with enhanced experience, thus propelling the industry growth.
Browse Full Report: https://www.gminsights.com/industry-analysis/home-audio-equipment-market-size
The home audio equipment market is highly fragmented in nature, characterized by the presence of large number of global and regional players. Acoustic Research, Inc., Akai, AKG, Altec Lansing, Anthem, Audio Partnership, Plc., Blaupunkt, Bose Corporation, Boston Acoustics, Bowers & Wilkins, Cambridge Audio, Creative Labs, Definitive Technology, Denon, Devialet, Edifier, Fluance, Focal Dimension, JVC Kenwood, Klipsch Group, Koninklijke Philips N.V., LG Electronics, Mark Levinson, Martin Logan, Nakamichi Corporation, Panasonic Corporation, Pioneer Corporation, Polk Audio, Q Acoustics, Samsung Electronics, Sanyo, Sonos, Sony Corporation, Vistron Audio Equipment, Vizio, Voxx International, Yamaha, Zvox
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World Molded Interconnect Devices (MID) Market is set to grow from its current market value of $320 million to more than $840 million by 2024, grow at over 12% CAGR.
Players operating in the MID market include Amphenol T&M Antennas, Galtronics, Harting Mitronics AG, LPKF Laser & Electronics AG, MacDermid Enthone, Molex, Multiple Dimensions AG, RTP Company, S2P smart plastic product, SelectConnect Technologies, Suzhou Cicor Technology Co. Ltd, Teprosa GmbH, Tongda Group, Yomura, BASF, DSM, EMS-GRIVORY, Ensinger GmbH, Division Ensinger Compounds, Evonik Industries, Lanxess, Mitsubishi Engineering Plastics, PTS Group, RTP, Sinoplast New Material Ltd., and Zeon Corporation.
https://www.gminsights.com/industry-analysis/molded-interconnect-devices-MID-market
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