According to the latest report of the IMARC group, entitled “Home Audio Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, offers a comprehensive analysis of the industry, which includes information on the global home audio equipment market. The report also includes competitor and regional analysis, as well as contemporary advancements in the global market.
The global home audio equipment market showed moderate growth over the period 2015-2020. Looking ahead, IMARC Group expects the market to grow at a pace CAGR around 5% during 2021-2026. Home audio equipment refers to electronic audio systems installed in homes to mimic the sound performance of a theater. They include many devices and technologies, such as smart speakers, stereos, sound bars, mixers, microphones, speaker bars, A/V receivers, Blu-ray layers, etc Home audio equipment offers sophisticated and reliable performance and can be used to record audio tracks. They can also supplement or replace conventional devices such as television speakers and televisions. Home audio equipment is used in the consumer electronics industry.
We regularly monitor the direct effect of COVID-19[female[feminine in the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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One of the major factors driving the home audio equipment market is the growing demand for high-performance home theater experiences, owing to increasing consumer disposable income levels. Apart from this, the rising popularity of portable audio equipment which can stream high-quality audio content from built-in USB drives and the internet is further driving the market growth. Moreover, the rapid development of speaker docking stations and dedicated networked audio devices acts as another important growth factor. Additionally, several manufacturers and vendors are expanding their market presence by making these systems visually less intrusive and user-friendly, which is also increasing the global market. Also, recent advancements in artificial intelligence (AI) technologies are catalyzing the demand for smart voice soundbars and various virtual digital assistants including Alexa, Siri, Google Home, Cortana, etc. This in turn should power the house. audio equipment market over the forecast period.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the major players operating in the market.
Some of these key players include:
- Sony Company
- Yamaha Corporation
- Bose Company
Breakdown by product type:
- Blu-ray and DVD players
- Home theater in a box (HTIB)
- sound bars
Breakdown by application:
Breakdown by distribution channel:
- Supermarkets and Hypermarkets
- Specialty stores
- convenience stores
- In line
Breakdown by region:
- North America (USA, Canada)
- Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
Main highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Impact of COVID-19 on the market
- Porter’s Five Forces Analysis
- Historical, current and future market trends
- Market drivers and success factors
- SWOT analysis
- Market structure
- Value chain analysis
- Complete mapping of the competitive landscape
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