Home Audio Equipment Market Is Moving Fast | Here Is What You Need To Know – Key Players are Anthem, Bose Corporation, Bowers & Wilkins, Devialet, JVC, LG Electronics, Panasonic, Samsung Electronics, Sonos, Inc., Sony, VIZIO

With a plethora of technological advancements in the electronics space, numerous giants in home audio equipment market have been dedicatedly launching myriad products such as AI assisted audio systems, IoT based speakers, smart home speakers, and wireless audio devices. Ever since the advent of artificial intelligence and the Internet of Things, home audio systems industry trends have indeed observed a massive transformation. Tech companies such as Google, Amazon, Apple, and Sony have implemented these innovative technologies in their recently launched audio devices, that have experienced extensive consumer demand. Indeed, the growing revolution in cloud computing, information technology, and the communication sectors have had a commendable impact on home audio equipment market outlook.

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Technological advancements such as cloud-based personal music libraries in these devices has attracted young consumers, thus positively impacting the home audio equipment market growth. Libraries such as Apple, Spotify, Deezer, Pandora, and Amazon Music are allowing the consumers to access a large number of music files available on the internet. Growing trend of consumers to play these files through in-house entertainment devices is expected to propel the home audio equipment market growth.

The major manufacturers covered in this report: -
1. AKG Audio
2. Anthem
3. Bose Corporation
4. Bowers & Wilkins
5. Cambridge Audio
6. Creative Labs
7. Devialet
8. JVC
9. LG Electronics
10. Panasonic
11. Samsung Electronics
12. Sonos, Inc.
13. Sony
14. VIZIO
15. VOXX International Corporation

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High-price (more than USD 1,000) segment is expected to grow rapidly over the next seven years, owing to the increasing demand for superior quality of the audio. The high-paying consumers from Europe and Middle East are demanding devices that provide high sound quality, in addition to aesthetic compatibility of the devices with the homes. However, with the proliferation of home entertainment systems in modern homes, the consumers are likely to prefer the home entertainment systems over the high-cost music devices. This is expected to impact the high-price home audio equipment market.

The audio device industry is experiencing behavioral shift among consumers with the penetration of devices such as tablets and smartphones. Consumers are demanding compact and wireless devices that focus on convenience and luxury. High degree of portability, remote accessibility, and manageability is expected to drive the wireless home audio equipment market.

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.

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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.

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