Press release
Home Audio Equipment Market - Worth US$15.94 bn in 2012 and expected to be worth US$20.68 bn by 2019
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.
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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.
The report mentions key players in the global home audio equipment market. These are Akai, DTS Inc., Koninklijke Philips Electronics N.V., Panasonic Corporation, Nakamichi Corporation, Pioneer Corporation, Sony Corporation, Dolby Laboratories Inc., JVC KENWOOD Holdings Inc., LG Electronics, Sanyo Electric Co. Ltd., Onkyo Corporation, and Sharp Corp.
Browse Report@ http://www.transparencymarketresearch.com/home-audio-equipments-market.html
Segmentation of Global Home Audio Equipment Market:
Home Audio Equipment Market, by product type
Home Theatre in-a-box
5.1 channel
6.1 channel
7.1 channel
9.1 channel
Home audio systems
Home radios
Other home audio accessories
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