Dublin, Nov. 30, 2023 (GLOBE NEWSWIRE) -- The "Home Audio Equipment - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 529 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $36.3 Billion |
| Forecasted Market Value (USD) by 2030 | $73.7 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
MARKET OVERVIEW
- Home Audio Gains as COVID-19 Triggers Shift from Commercial to Home Theaters
- Record Surge in Smart Speaker Market in Wake of COVID-19
- Soundbars Inching towards Ubiquitous Status amid COVID-19 Crisis
- Influencer Market Insights
- World Market Trajectories
- Home Audio Equipment - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Home Audio Equipment: A Prelude
- Outlook
- Consumer Location Preference for Watching New Movies Post COVID-19
- Market Challenges
- Competition
- Market Share of Leading Vendors in Global Smart Speaker and Smart Display market: Q2 2021
- Soundbars Global Competitor Market Share Positioning for 2021E
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Homebound Customers Charge Premium Audio Products' Demand amid Pandemic
- Home Audio Technology Exhibits Consistent Evolution with Addition of New Features
- Future Home Theater & Audio Equipment Trends Coming Down the Pipe
- Major Design Trends in Home Theaters
- Digital Boom and Growth in Music Streaming Drives Demand for Wireless Speakers
- Increasing Consumer Preference for Music Streaming Drives Demand for Multi-Room Wireless Speakers for Streaming Music from Cloud Servers: Global Number of Music Streaming Subscribers (In Million) for the Years 2010, 2015, 2017, 2019, 2021 & 2023
- Growing Smart Homes Catalyst to Home Theatre and Other Audio Products
- Growth in Total Number of Smart Homes (In Millions) for the Years 2019, 2021, 2023, 2025 & 2026
- E-Commerce Drives Sales of Home Audio Equipment
- Surging E-commerce Market and Shifting Consumer Behavior Ensure Steady Demand for Home Audio Equipment: Global Retail E-Commerce Revenues (In US$ 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/2vh0lp
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