Home Audio Equipment Market Regional Trend & Analysis | Growth Projections to 2024

Home audio equipment market is indeed observing a major impetus, on account of the growing number of consumers who have large music libraries and demand high definition music players that can access music from online music libraries such as Google Play Music, Amazon Music, Spotify and style Jukebox. Major geographies have been capturing a substantial share of home audio equipment market, with key companies manufacturing an affordable range of products.
Renowned home audio equipment industry giants like Bose Corporation, Philips, Yamaha, LG Electronics, Sonodyne, Bowers and Wilkins have indeed taken note of the major growth prospects of this business space and are seemingly ramping up their investments in high-grade technology.

The robust proliferation of smart devices and the evolution of home entertainment systems have led to home equipment market charting a profitable growth path in recent years. Lately, in-house entertainment systems have been witnessing a massive demand, and with the emergence of IoT, Bluetooth and Wi-Fi, the integration of home entertainment equipment with common operating devices like smartphones has indeed depicted a rise, fueling home audio equipment market trends.

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Home entertainment has now reached an all-time high with the growing millennial population, the demands of which have revolutionized the home audio equipment industry trends. As the requirement for high definition music systems has increased exponentially in the last decade and consumers have been experiencing the pleasure of increasing disposable incomes, the growth of the home audio equipment market has been on a remarkable increase. Products that are highly priced with explicit sound quality and those that are low priced and easily affordable, have both been gaining traction in home audio equipment industry, in major geographies.

The landscape of home audio equipment market has also experienced a revolution with the emergence of the smart speaker. In fact, as is observed, home audio equipment industry is being inundated with devices like Amazon Echo, Sonos One, Google Home, JBL Link and others that can be commanded by the user to play music from the smartphone or cloud. These speakers can also read out a book, check the weather or play the news – a remarkable upgrade from speakers that could only play music from the playlist. The compatibility of audio devices with other smart home devices also determines the salability of the audio device.

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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.

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.

Table of Contents:

Chapter 4. Home Audio Equipment Market, By Price Range
4.1. Global home audio equipment industry share by price range, 2016 & 2024
4.2. High (more than USD 1000)
4.2.1. Market estimates and forecast, 2013 – 2024
4.2.2. Market estimates and forecast, by technology, 2013 – 2024
4.2.3. Market estimates and forecast, by region, 2013 – 2024
4.3. Moderate (USD 500 - USD 1000)
4.3.1. Market estimates and forecast, 2013 – 2024
4.3.2. Market estimates and forecast, by technology, 2013 – 2024
4.3.3. Market estimates and forecast, by region, 2013 – 2024
4.4. Low (Less than USD 500)
4.4.1. Market estimates and forecast, 2013 – 2024
4.4.2. Market estimates and forecast, by technology, 2013 – 2024
4.4.3. Market estimates and forecast, by region, 2013 – 2024

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