Home Audio Equipment Market 2021 Global Trend, Segmentation and Opportunities Forecast to 2027

The home audio equipment market will see considerable expansion with the rise in household incomes across the developed countries. There is a noticeable jump in the number of people that subscribe to services, including Amazon Prime and Netflix with the help of home audio devices such as soundbars and home theatres. This influx of video-on-demand services has pushed consumers towards adopting high-quality audio-visual equipment.

Also, the shifting inclination of consumers to spend on high-end devices to receive enhanced listening experiences has complimented the demand for advanced audio-visual solutions. There is also a rising preference for wireless communication technologies like connected audio devices which help to easily connect other systems without the need for wired cable links.

Estimates reveal that the home audio equipment market will globally register more than USD 45 billion in terms of remuneration by 2027.

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This growth is attributed to the increase in online retailing as e-commerce players, comprising eBay and Amazon.com Inc, have started providing an extensive variety of products on their portals. The COVID-19 pandemic has given a boost to online retailing as customers have begun to prefer online product purchases for ensuring social distancing.

The outbreak has also caused a reduction in the number of people visiting the physical retail stores. In addition, various offers and discounts provided by e-commerce companies encourage people to go ahead with the online purchase of home audio amplifiers and other products. Easy policies of replacement have also fostered the growth of the online retailing segment through the recent years.

The home audio equipment market is further driven by an increase in the demand for speakers owing to the escalating trend of AI-ready speakers at the global level. Numerous industry players are providing smart speakers that allow users to turn on lights, play music, and make reservations at restaurants. These smart speakers are combined with deep learning technology that recognizes sound patterns and other data, offering a user-friendly interface.
Top Key Players Are : Amazon.com, Inc., Bose Corporation, Apple, Inc., Sony Corporation, Panasonic Corporation, Voxx International Corporation, Samsung Electronics Co., Ltd., Vizio, Inc., Google LLC (Alphabet Inc.), Polk Audio, LG Electronics, Inc., and JVCKenwood Corporation, among several other regional and international participants.

In fact, the United States recorded an upsurge of 32 per cent in the number of smart speaker users in the month of January 2019. The implementation of voice recognition technology in speakers helps users to utilize their voice for the provision of numerous commands to the system. Voice assistant technology focuses on the recognition of voice via natural language processing and performs tasks according to the command of the user.

The North America home audio equipment market is projected to record appreciable growth through the analysis period, owing to the rising popularity of video-on-demand services in the region. In 2019, nearly 46 per cent of the broadband households in the U.S. subscribed to two or more OTT services. Prominent home audio equipment manufacturers, comprising The Walt Disney Company, Hulu, and Netflix, are dominating the video-on-demand industry in the region.

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Table Of Content:

Chapter 5 Home Audio Equipment Market, By Technology
5.1 Key trends by technology
5.2 Wired
5.2.1 Market estimates and forecast, 2016 – 2027
5.2.2 Market estimates and forecast, by product, 2016 – 2027
5.2.3 Speaker
5.2.4 Soundbar
5.2.5 Home Theater in a Box (HTiB)
5.2.6 Receiver
5.3 Wireless
5.3.1 Market estimates and forecast, 2016 – 2027
5.3.2 Market estimates and forecast, by product, 2016 – 2027
5.3.3 Speaker
5.3.4 Soundbar
5.3.5 Home Radio
5.3.6 Home Theater in a Box (HTiB)
5.3.7 Receiver
Chapter 6 Home Audio Equipment Market, By Distribution Channel
6.1 Key trends by distribution channel
6.2 Online
6.2.1 Market estimates and forecast, 2016 – 2027
6.3 Offline
6.3.1 Market estimates and forecast, 2016 – 2027

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Arun Hegde
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