Why are home audio equipment witnessing high demand in Asia Pacific?

Home audio systems are audio electronics made for home entertainment use such as surround sound receivers and shelf stereos. Home audio equipment is meant to process, record, and reproduce sound. The basic elements of the home audio system include amplifier, source, control unit, and speakers. More and more people are adopting wireless home audio equipment due to the advancement in streaming music services and WiFi technology. Most manufacturers provide control applications for free while some charge for the usage.

The global human interface machine market is estimated to account for US$ 28.2 Bn in terms of value by the end of 2027.

Market Dynamics- Drivers

Increasing disposable income of consumers is expected to drive growth of the global home audio equipment market during the forecast period
Disposable income of consumers has increased over the years, with consumers buying more latest technological products available in the market. Blue-ray disk, MP3 players, computers, and video game players are the major sources of entertainment for families. With growing consumer preference for better quality products and an increase in disposable incomes, consumers are expected to buy home entertainment products. Therefore, these factors are expected to drive growth of the global home audio equipment market during the forecast period.

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Rising demand for home audio networking is expected to propel the global home audio equipment market growth over the forecast period
Home audio networking refers to a network of audio devices (TV, computer, stereo, and so on) and speakers distributed across a house. It is also known as whole-house audio or whole-home audio. The concept of audio networking has been introduced in the past. However; digital networked audio helps users in replacing error-prone and expensive cables. Audio networking can overcome the limitations imposed by traditional analog audio systems and provides a more economical design, efficient and enhanced features, and improved functionality. Networked audio technology has opened a wide array of possibilities for the audio industry. Furthermore, with the convergence of consumer electronics and personal computers (PC), manufacturers are adding more audio/video capability to the PC platform in an effort to succeed in the home electronics market. On the contrary, home audio equipment manufacturers are adding the networking capability to their products. Hence, these factors are expected to propel the global home audio equipment market growth over the forecast period.

Statistics:

APAC held dominant position in the global home audio equipment market in 2019, accounting for 28.0% share in terms of value, followed by Europe, North America, and RoW respectively.

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