Home Audio Technology Market Worth $20 Billion in 2016

ReportsWorldwide has announced the addition of a new report title Home Audio - Speakers, Technologies & Competitive Assessment: Mobile Speakers, Room Speakers, Wireless Multi-Room Speakers, Sound Bars & HTIB Systems to its growing collection of premium market research reports.

The total home audio device market, was worth an estimated $19.5 billion in 2016, growing by 16% from 2015. It has grown strongly over the last six years, and will continue to pick up with the advent of voice command technologies infiltrating the product category.

Presently, mobile speakers, sound bars and wireless multi-room speakers make up the largest segments of the market and are all projected to grow significantly over the next five years. The popularity of mobile speakers has grown rapidly over the last four years, as the demand for both the branded and non-branded speaker increase.

The two biggest drivers behind the market are the change in how people purchase their music, and the device platforms they use. Music streaming platforms, such as Spotify and Apple Music, have made huge leaps in subscriber numbers, supported by the widespread adoption of smartphones and tablets around the world. People can easily access their music tastes.

In 2016, global mobile speaker revenues were worth an estimated $9.4 billion.

To view a detailed description and Table of Contents please visit: https://www.reportsworldwide.com/report/home-audio---speakers-technologies--competitive-assessment-mobile-speakers-room-speakers-wireless-multi-room-speakers-sound-bars--htib-systems

Sound bars and wireless multi-room speakers continue to grow strongly, driven by the adoption of thinner flat panel TVs and integrated home entertainment systems. Principal analyst and founder of SAR Insight Peter Cooney said: “The sound bar and multi-room market should not be underestimated. More than 12 million wireless multi-room speakers were shipped globally in 2016, equating to a total market value of $3.3 billion. Only the sound bar market was worth more, with global revenues almost reaching $5 billion.”

"Any person attending CES this year will no doubt mention the prominence of Amazon's proprietary voice command technology, Alexa. Already, Lenovo, Jam Audio, iHome, Play-Fi and Monster have introduced a new home audio speakers at CES 2017, which include Alexa". Principal Analyst and founder SAR Insight & Consulting, Peter Cooney said, "Voice will become the primary interface for smart home audio devices and products based on the Amazon Alexa, Google Home and Apple Siri platforms will proliferate".

The home audio technologies market is projected to continue growing strongly, as the ecosystem continues to diversify, and more electronic companies jostle with traditional sound system companies. Companies like Sony, Sonos, Harman, Samsung and Bose battle with each other in different product categories.

This report contains 60+ pages, Excel 35+ Tables 35+ Charts

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