Bowers & Wilkins, Cambridge Audio, Creative Labs, Devialet, Klipsch Group, Inc., LG Electronics Home Audio Equipment Market by Top Key Participant: AKAI, AKG Audio, Altec Lansing, Anthem, Inc., Bose Corporation, Boston Acoustics

Mid-price home audio equipment market segment is expected to grow at significant rate over the future, owing to the rising adoption in Asia Pacific. The region is experiencing economic growth leading to rising disposable income that is leading to increased spending in leisure products including personal and home audio electronics. Moreover, the customers in the region are replacing the low-priced devices with the average pricing products and the traditional systems with the wireless High-Fi systems, thus propelling the home audio equipment market growth.

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Home audio equipment market is expected to grow owing to the growing penetration of internet of things (IoT) technology across the globe. With the introduction of IoT, consumers are increasingly demanding the devices compatible with multiple other devices to increase convenience and enhance experience. For instance, smart speaker range by Amazon perform several other functions that control smart homes, including control heaters, fans, lights, and thermostats. With the proliferation of this technology, the demand for audio devices that perform such functions is expected to propel the home audio equipment market growth.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

• AKAI
• AKG Audio
• Altec Lansing
• Anthem, Inc.
• Bose Corporation
• Boston Acoustics
• Bowers & Wilkins
• Cambridge Audio
• Creative Labs
• Devialet
• Klipsch Group, Inc.
• LG Electronics

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.

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.

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

Wireless technology enabled gadgets are expected to gain substantial share in the home audio equipment market over the forecast period, owing to increasing operability and compatibility of these devices with other devices such as other speakers, smartphones, and tablets. High degree of standardization offered in wireless protocols is expected to benefit the wireless home audio equipment market growth. 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.

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The demand for wireless receivers are expected to witness considerable increase, owing to increasing availability of high resolution products such as 4K ultra high definition TV, thus propelling the home audio equipment market growth. Furthermore, the growth is propelled by the growing demand for the connected music systems, that use the A/V receivers.

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 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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