Global home audio equipment market to reach US$49.9 billion by 2026


DUBLIN, July 25, 2022 /PRNewswire/ — The “Home Audio Equipment – Global Market Trajectory & Analytics” report has been added to from ResearchAndMarkets.com offer.

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Global home audio equipment market to reach US$49.9 billion by 2026

The audiovisual space is also influenced by the growing attention to smart home theaters that provide a high-tech media room. These smart rooms allow for an integrated approach and provide users with a universal remote to control their connected devices for a convenient and futuristic audio-visual experience. Homeowners planning to ditch wired systems without compromising on sound quality embrace minimal audio gear with powerful performance.

The market is experiencing an increasing influx of wireless audio equipment with integrated components. The new multi-speaker and multi-channel systems are supported by unique soundbars. Technological advances such as architecturally-friendly Dolby Atmos systems, short-throw projectors, ambient-light-rejecting screens, motorized window treatments, and large LED screens are improving the prospects for the home theater market.

The global home audio equipment market has been estimated at US$36.3 billion in 2022, and is expected to reach a revised size of US$49.9 billion by 2026, growing at a CAGR of 9.6% over the analysis period. Home theater systems, one of the segments analyzed in the report, is expected to grow at a CAGR of 6.5% to reach US$15.1 billion at the end of the analysis period.

The US market is estimated at $13.1 billion in 2022, when China is expected to reach $6.1 billion by 2026

The home audio equipment market in the United States is estimated at US$13.1 billion in 2022. The country currently accounts for a 36.2% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$6.1 billion in 2026 with a CAGR of 11.8% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 7.9% and 9% respectively over the analysis period. In Europe, Germany is expected to grow at around 8.7% CAGR while the rest of the European market (as defined in the study) will reach US$3.6 billion at the end of the analysis period.

Segment of soundbars to reach $12.9 billion by 2026

Soundbars are enjoying wide adoption in households following the impetus of COVID-19 and the growing availability of diverse content and adoption of home entertainment products. Over the past few years, an increasing number of people have started consuming streaming content like free e-books, games, and movies.

The soundbar trend is also being catalyzed by the rise of smart TVs and the increasing installation of home theater systems for an enhanced listening and viewing experience. In the global soundbar segment, UNITED STATES, Canada, Japan, China and Europe will drive the CAGR of 9.1% estimated for this segment.

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

2. FOCUS ON CERTAIN PLAYERS

3. MARKET TRENDS AND DRIVERS

  • Home customers charge for demand for high-end audio products amid pandemic

  • Home audio technology is constantly evolving with the addition of new features

  • Future Home Theater and Audio Equipment Trends Ahead

  • Top Design Trends in Home Theaters

  • Digital boom and growth in music streaming drive demand for wireless speakers

  • Growth of smart home catalyst for home theater and other audio products

  • E-commerce drives home audio sales

  • Growing population of music listeners and rise of mass-market audiophiles increase business prospects

  • Connectivity: an essential feature for modern speakers

  • Increased internet penetration and availability of high-speed broadband networks to drive opportunities

  • Technological advancements drive significant improvements in speaker systems

  • Rising Home Entertainment Spending Generates Opportunity

  • Rapid Growth of OTT Platforms and Increase in Demand for High Quality Streaming Content to Drive Market Gains

  • Artificial intelligence (AI) emerges as a key technology to drive market growth

  • In-Wall Speakers Arouse Consumer Interest

  • Soundbars continue to grow in popularity

  • New soundbars set to redefine users’ listening experience

  • AI-enabled speakers and the use of digital assistants in speaker systems are gaining traction

  • Larger and larger speakers benefit from better performance capabilities

  • Rising penetration of large flat screen TVs is fueling demand for soundbars

  • Insight into consumer behavior

  • Favorable demographic and socio-economic trends bolster the market outlook

  • Rapid growth of urban households

  • Growing affluence of middle class consumer segment

  • Increase in the standard of living

4. GLOBAL MARKET OUTLOOK

III. MARKET ANALYSIS

IV. COMPETITION

Companies cited

  • Amazon.com, Inc.

  • Apple Inc.

  • Bose Company

  • Creative Technologies, Inc.

  • Edifier International Limited

  • Harman International Industries, Inc.

  • JVCKenwood Corporation

  • Klipsch Group, Inc.

  • LG Electronics Inc.

  • Nortec inc.

  • Onkyo & Pioneer Corporation

  • Panasonic Company

  • Polk-Audio

  • Samsung Electronics Co., Ltd.

  • Sharp Corporation

  • Sony Electronics Inc.

  • VIZIO, Inc.

  • Voxx International Corporation

  • Yamaha Corporation

For more information on this report visit https://www.researchandmarkets.com/r/tauh6x

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