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Home Theater Audio Systems Market Understanding The Key Product Segments And Their Future
Most audio systems these days are equipped with connectivity features such as Bluetooth and Wi-Fi. Wirelessly connected devices like MP3 players, smartphones, tablets, and laptops facilitate the streaming of audio content when connected to audio systems. The ability of these devices to stream audio content wirelessly is expected to drive the technology segment in the global home theater audio systems market. Technological advancements in various audio devices have transformed the fashion in which music is played and appreciated. The audio industry has witnessed a shift to the rise in demand for wireless audio devices such as Bluetooth speakers and sound bars. End-user demand and adoption of Bluetooth speakers and other such devices is fast gaining traction in the global market, which is fueling revenue growth of the technology segment.
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Demand for innovative audio products with technologically advanced features is also likely to boost the technology segment during the projected period. There is a continuous demand for technologically advanced devices in the global home theater audio systems market. Product manufacturers are integrating advanced features such as NFC (Near Field Communication) to provide instant access and integration with streaming devices to provide a seamless streaming of audio and video content to consumers.
Furthermore, consumer preferences are shifting towards connected consumer electronic devices and accessories, which can be connected to smartphones wirelessly from any remote location. These smart audio devices offer an enhanced end-user experience with reduced complexities and are thus becoming more popular among the growing tech savvy population. Growing consumer interest in technologically advanced audio devices is expected to create a positive impact on the global home theater audio systems market.
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The NFC segment in the Middle East and Africa home theater audio systems market is estimated to increase from more than US$ 40 Mn in 2017 to over US$ 60 Mn by 2025 end, representing a CAGR of 4.3% from 2017 to 2025. The NFC segment is expected to create incremental opportunity of US$ 18 Mn between 2017 and 2025 in the MEA market.
In Europe, the Bluetooth segment is expected to create incremental opportunity of US$ 740.3 Mn between 2017 and 2025. In the North America home theater audio systems market, the Wi-Fi segment is expected to increase 1.44X in terms of value over the forecast period. The Wi-Fi segment is expected to create incremental opportunity of US$ 400.2 Mn between 2017 and 2025 in the North America regional market.
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Multi-room streaming is one of the key opportunities for home theater audio systems manufactures. Multi-room audio systems allow customers to play different songs through different applications installed on smartphones without disturbing the sound quality. Multi-room audio systems allow users to connect with audio systems either using Wi-Fi Airplay or using Bluetooth. This technology provides a huge opportunity for manufacturers to improve in the near future. Another technology such as integrating home audio devices with wearable devices enable manufacturers to develop smart and networked speakers. Software configuration on wearable devices allows OEMs to create truly optimized smart speakers across various product tiers and categories. The integrated platform brings together a unique combination of processing capabilities, connectivity options, voice user interfaces, and premium audio technologies to help meet increasing consumer demand for comprehensively featured, highly intuitive smart speakers.
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