Press release
Home Audio Equipment Market to Rise at 3.7% CAGR from 2013 to 2019
Transparency Market Research has released a market study on the global home audio equipment market for the 2013-2019 period. The report delves into the various facets that will impact the progression of this market across North America, Asia Pacific, Europe, and Rest of the World. Included in the report are revenue estimates for the various product types in each of the geographical segments. Growth trends and opportunities that will come to the fore in this market during the forecast period are also analyzed.
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In 2012, Europe stood as the largest market for home audio equipment, says the report. Consumers in the region are early adopters of technology, which has led to the region becoming one of the largest markets for innovative and modern technology. The large consumer base of Blu-ray players, smartphones, and other electronics validates the penetration of the home audio equipment market across various strata of the society in the region.
However, Asia Pacific will emerge as the fastest growing market in the coming years and will display a CAGR of 5.7% from 2013 to 2019. In this region, proliferation of the overall electronics industry, especially in China, Korea, Japan, and India, is the main reason for the promising performance of the home audio equipment market.
With advancement in audio technologies and launch of advanced home entertainment systems, ownership of home audio systems has increased worldwide. This has been supported with increasing disposable incomes. Making frequent upgrades on advanced products such as computers, video games, televisions, and smartphones is common practice among consumers. To complement these products, audio systems that offer high-quality acoustics and are economical on space as well are charting new growth trends for the home audio equipment market.
The report segments the home audio equipment market on the basis of product and geography. Home theater-in-a-box, home radios, home audio systems, and other home audio accessories are the product segments of the market. In 2012, the other home accessories segment, which comprises speakers, amplifiers, and others, held a share of more than 31.5% in the global market. Rampant utilization of mobile devices, which can be easily hooked into any of these add-on audio devices, is the reason for the large market share of the other home audio accessories segment.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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