Global Home Audio Equipment Market Report 2023: Record Surge in Smart Speaker Market in Wake of COVID-19 - Forecast to 2030
Friday, December 8, 2023
DUBLIN, Nov. 30, 2023 /PRNewswire/ -- The "Home Audio Equipment - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
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Global Home Audio Equipment Market to Reach $73.7 Billion by 2030
The global market for Home Audio Equipment estimated at US$36.3 Billion in the year 2022, is projected to reach a revised size of US$73.7 Billion by 2030, growing at a CAGR of 9.2% over the analysis period 2022-2030.
Home Theater Systems, one of the segments analyzed in the report, is projected to record 6.4% CAGR and reach US$18.7 Billion by the end of the analysis period. Growth in the Smart Speakers segment is estimated at 11.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $13.1 Billion, While China is Forecast to Grow at 11.1% CAGR
The Home Audio Equipment market in the U.S. is estimated at US$13.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$9.7 Billion by the year 2030 trailing a CAGR of 11.1% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.6% and 8.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR.
What`s New?
-- Special discussions on the global economic climate and market sentiment
-- Coverage on global competitiveness and key competitor percentage market
shares
-- Market presence analysis across multiple geographies -
Strong/Active/Niche/Trivial
-- Online interactive peer-to-peer collaborative bespoke updates
-- Access to digital archives and trademarked research platform
-- Complimentary updates for one year
-- Access to curated YouTube video transcripts of market sentiments shared
by CEOs, domain experts and market influencers via interviews, podcasts,
press statements and event keynotes
Key Players (Total 148 Featured)
-- Apple, Inc.
-- Amazon.com, Inc.
-- Bang & Olufsen A/S
-- Arcelik A.S.
-- Altec Lansing, Inc.
-- Armour Home Electronics Ltd.
-- Atlantic Technology
-- B&W Group Ltd.
-- AIWA
-- Aperion Audio
-- Audio Partnership PLC - Cambridge Audio
-- Alphabet, Inc.
-- Ayre Acoustics, Inc.
-- Aurender Inc.
-- Audio Video Unlimited
MARKET OVERVIEW
-- Home Audio Gains as COVID-19 Triggers Shift from Commercial to Home
Theaters
-- Record Surge in Smart Speaker Market in Wake of COVID-19
-- Soundbars Inching towards Ubiquitous Status amid COVID-19 Crisis
-- Influencer Market Insights
-- World Market Trajectories
-- Home Audio Equipment - Global Key Competitors Percentage Market Share in
2022 (E)
-- Competitive Market Presence - Strong/Active/Niche/Trivial for Players
Worldwide in 2022 (E)
-- Home Audio Equipment: A Prelude
-- Outlook
-- Consumer Location Preference for Watching New Movies Post COVID-19
-- Market Challenges
-- Competition
-- Market Share of Leading Vendors in Global Smart Speaker and Smart
Display market: Q2 2021
-- Soundbars Global Competitor Market Share Positioning for 2021E
-- Recent Market Activity
MARKET TRENDS & DRIVERS
-- Homebound Customers Charge Premium Audio Products' Demand amid Pandemic
-- Home Audio Technology Exhibits Consistent Evolution with Addition of New
Features
-- Future Home Theater & Audio Equipment Trends Coming Down the Pipe
-- Major Design Trends in Home Theaters
-- Digital Boom and Growth in Music Streaming Drives Demand for Wireless
Speakers
-- Increasing Consumer Preference for Music Streaming Drives Demand for
Multi-Room Wireless Speakers for Streaming Music from Cloud Servers:
Global Number of Music Streaming Subscribers (In Million) for the Years
2010, 2015, 2017, 2019, 2021 & 2023
-- Growing Smart Homes Catalyst to Home Theatre and Other Audio Products
-- Growth in Total Number of Smart Homes (In Millions) for the Years 2019,
2021, 2023, 2025 & 2026
-- E-Commerce Drives Sales of Home Audio Equipment
-- Surging E-commerce Market and Shifting Consumer Behavior Ensure Steady
Demand for Home Audio Equipment: Global Retail E-Commerce Revenues (In
US$ Trillion) for the Years 2019, 2021, 2023, 2025 & 2026
-- Growing Population of Music Listeners & Rise of Mass-Market Audiophiles
Augments Business Prospects
-- Connectivity: A Critical Feature for Modern Speakers
-- Rise in Internet Penetration and Availability of High-Speed Broadband
Networks to Spur Opportunities
-- World Internet Penetration Rate (in %) by Geographic Region: 2020
-- Internet Penetration Rate (%) in Select Countries for 2020
-- Device Ownership of Internet Users in %: 2020
-- Technology Advancements Drive Significant Improvements in Speaker
Systems
-- Rise in Home Entertainment Spending Drives Opportunities
-- Leading Streaming Services by Subscriber Base (in Million): 2020
-- Global SVOD Services Market Breakdown of Subscriber Base (in %) by
Service Provider: 2020E
-- Global Number of SVoD Subscribers (In Million): 2015-2024
-- Rapid Growth of OTT Platforms & Rise in Demand for High-Quality
Streaming Content to Drive Market Gains
-- Global Number of OTT Video Users (In Million) for the Years 2019, 2021,
2023 & 2025
-- Artificial Intelligence (AI) Emerges as a Key Technology to Induce
Market Growth
-- In-Wall Speakers Gain Consumer Interest
-- Soundbars Continue to Grow in Popularity
-- New Soundbars Set to Redefine User Listening Experience
-- AI-enabled Speakers and Use of Digital Assistants in Speaker Systems
Gain Traction
-- Bulkier and Larger Speakers Benefit from Better Performance Capabilities
-- Rise in Penetration of Large Flat Panel TVs Fuels Demand for Soundbars
-- Global Sales of OLED and LED TVs (In Million Units) for the Years 2018,
2020, 2022, 2024, & 2026
-- Global Shipments of Televisions by Screen Resolution (2018 & 2022):
Percentage Breakdown of Volume Shipments for HD/FHD, 4K and 8K TVs
-- A Peek into Consumer Behavior
-- Favorable Demographic & Socio-Economic Trends Strengthen Market
Prospects
-- Rapid Growth in Urban Households
-- World Urban Population in Millions: 1950-2050
-- Degree of Urbanization Worldwide: Urban Population as a % of Total
Population by Geographic Region for the Years 2000, 2020 & 2050
-- Growing Affluence of Middle Class Consumer Segment
For more information about this report visit https://www.researchandmarkets.com/r/ju2u5d
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