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The global home audio equipment market was valued at USD 28.37 billion in 2022, increasing at a CAGR of 12.75% from 2022 to 2032 and anticipated to reach USD 94.19 billion by 2032. Asia Pacific is expected to grow the fastest during the forecast period. Also, the increasing sales of home audio equipment, such as amplifiers, speakers, headphones, receivers, etc., are expected to drive market growth during the forecast period.
Audio equipment refers to machines that record, reproduce, or process sound. Audio equipment contains radio receivers, microphones, AV receivers, CD players, amplifiers, tape recorders, mixing consoles, effects units, speakers, and headphones. Audio equipment is widely utilized in many scenarios, such as bars, concerts, meeting rooms and the home where there is a requirement to record, reproduce, and enhance sound volume. Audio equipment means any audio and visual reproduction equipment, including satellite navigational help and traffic alert systems which form part of the Insured Vehicle's original specification and are permanently fitted by the vehicle manufacturer's specification. The main types of audio equipment are amplifiers, loudspeakers, microphones, turntables, and others. An amplifier is an electronic machine that boosts a signal's voltage, power, or current. The audio equipment prices range from low to medium to high and are available in different technologies like wireless and wired.
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For example, in February 2021, The SRS-RA3000, Sony India's latest premium wireless speakers, was founded. Sony's distinctive spatial sound technology is integrated into smart attributes in the RA3000.
The increasing adoption of audio equipment worldwide: The rising awareness and adoption of home audio equipment due to advertisement and promotions on online channels boost the sales of these products. Further, the over-the-top services utilized to describe movies and TV shows directly delivered to digital viewers without the need for a cable or satellite television subscription are also stimulating market growth. Moreover, the emergence of 5G infrastructure, smartphones, original media content, smart TV, and other technologies are also helping to drive market growth over the forecast period. Additionally, the increasing use of audio equipment for numerous applications in the sports or gaming industry and events, special occasions, and festivals propel the market growth during the forecast period.
The high equipment cost: The inadequate data network infrastructure and latency issues hamper the market growth. Moreover, the lack of skilled workforce in the core electronics sector, rise in raw material costs, complexity in designing and programming complex DSP architecture, a new technology developed by competitors, and currency fluctuations in various industries are restraining the market growth over the forecast period.
The increasing popularity of online distribution channels: The increasing adoption of e-commerce platforms and online distribution channels is one of the opportunity factors for market growth. Further, the expanding adoption of speakers in personal portable music players, smartphones, and computers is helping to stimulate market growth during the forecast period. Moreover, consumers' ever-growing demand for innovative products is pushing manufacturers to develop innovative audio solutions for external and internal applications and sustain in the industry, helping to drive market growth.
The regions analyzed for the market include Europe, South America, Asia Pacific, North America, the Middle East, and Africa. North America emerged as the largest global home audio equipment market, with a 48.36% market revenue share in 2022. North America dominates the home audio equipment market due to the rising discretionary incomes of people. Further, growing urbanization trends and individuals' acceptance of innovative technology developments are also helping to propel the market growth during the forecast period in this region. However, increased demand for high-quality audio and sound systems among users, rising demand for customized home theaters, and the increasing need for wireless streaming propel the market growth in this region.
Additionally, the Asia Pacific is expected to grow the fastest during the forecast period due to the increased government expenditure on pharmaceutical production. Moreover, the expansion of end-user industries in emerging economies, especially India and China, along with the rapid economic growth, are helping to drive market growth in this region. Apart from this, the rising disposable income levels of the people, along with the adoption of innovative technologies such as voice control, wireless, and others, are anticipated to propel the market growth in this region over the forecast period.
North America Region Rainwear Market Share in 2022 - 39%
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The application type segment is divided into wireless and wired. The wireless segment dominated, with a market share of around 53.26% in 2022. This growth is attributed to the ability to deliver bass and other enhanced features at lower volume levels, along with compact size, hassle-free installation, and power efficiency. The soundbar, also known as a speaker bar, is a wireless audio instrument. A soundbar is a single or dual-speaker system that produces high-quality audio. Soundbar is utilized in conjunction with devices such as PCs, laptops, televisions, music players, smartphones, etc. However, the high internet connectivity, coupled with the rapid integration of soundbars with voice assistants, such as Google Assistance and Alexa, are also helping to boost the segment's market growth. Further, by 2032, the wired segment will likely dominate the market due to the ever-increasing number of large-scale events such as global concerts, music festivals, and sports events.
The product type segment is divided into home audio speakers and systems and home theatre in-a-box (HTIB). In 2022, the home audio speakers and systems segment dominated the market with 56.19% and a revenue of 15.94 billion. This growth is attributed to easy access to immersive content and programming that elevates audio-visual systems to more powerful performance levels. Further, by 2032, the home theatre in a box (HTIB) segment will likely dominate the market due to its ability to be combined with TVs to provide a better audio experience. Additionally, the rising preferences towards customized products, growing demand for Blu-Ray's high-definition (HD) playback system, increasing demand for customer inclinations for portable devices, and the advancement in digital technology are also propelling the segment's market growth.
The audio components segment is divided into digital & signal processors, microphones, amplifiers, mixers, and others. In 2022, the microphones segment dominated the market with 29.18% and a revenue of 8.27 billion. This growth is attributed to the rapid growth in the entertainment industry, low cost, and a wide variety of applications. Additionally, the increased sales of smartphones, tablets and other such devices, along with the flexibility in placement and setup, are also helping to drive the segment's market growth. Further, by 2032, the digital & signal processor segment will likely dominate the market due to the increased customer spending on audio equipment. Besides this, technological advancements, wireless infrastructure improvements, and the high demand for electronics products are also helping to boost the segment's market growth. However, the digital signal processor is widely used in communication, aerospace, military, and other customer & industrial applications.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 28.37 Billion |
| Market size value in 2032 | USD 94.19 Billion |
| CAGR (2023 to 2032) | 12.75% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Regional Segments | The key regions are North America, South America, Europe, Asia Pacific, and Middle East & Africa. |
| Segments | Key segments are application type, product type, audio components, and regions |
The North America region emerged as the largest market for home audio equipment.
The market's growth will be influenced by the increasing applications in the entertainment industry.
The high equipment cost could hamper the market growth.
The technological advancement will provide huge opportunities to the market.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Application Type
4.3.2. Market Attractiveness Analysis By Product Type
4.3.3. Market Attractiveness Analysis By Audio Components
4.3.4. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. The increasing applications in entertainment industry
5.2.2. The increased adoption of home theaters
5.2.3. The growing number of smart homes
5.2.4. The increasing disposable incomes
5.3. Restraints
5.3.1. The high equipment cost
5.3.2. The inadequate data network infrastructure
5.4. Opportunities
5.4.1. The increasing popularity of online distribution channels
5.4.2. The advancement in technology
6. Global Home Audio Equipment Market Analysis and Forecast, By Application Type
6.1. Segment Overview
6.2. Wireless
6.3. Wired
7. Global Home Audio Equipment Market Analysis and Forecast, By Product Type
7.1. Segment Overview
7.2. Home Audio Speakers and Systems
7.3. Home Theatre In-A-Box (HTIB)
8. Global Home Audio Equipment Market Analysis and Forecast, By Audio Components
8.1. Segment Overview
8.2. Digital & Signal Processors
8.3. Microphones
8.4. Amplifiers
8.5. Mixers
8.6. Others
9. Global Home Audio Equipment Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Home Audio Equipment Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in Global Home Audio Equipment Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Product Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. Apple Inc.
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. Amazon.com, Inc.
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. Bowers & Wilkins Group Ltd.
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. Blaupunkt GmbH
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. Creative Technology Ltd.
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. Bose Corporation
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. Edifier Technology Co., Ltd.
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. Sonos, Inc.
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. Google LLC
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. JVCKenwood Corporation
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Product Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
11.11. Koninklijke Philips N.V.
11.11.1. Business Overview
11.11.2. Company Snapshot
11.11.3. Company Market Share Analysis
11.11.4. Company Product Portfolio
11.11.5. Recent Developments
11.11.6. SWOT Analysis
11.12. Sennheiser Electronic GmbH & Co. KG.
11.12.1. Business Overview
11.12.2. Company Snapshot
11.12.3. Company Market Share Analysis
11.12.4. Company Product Portfolio
11.12.5. Recent Developments
11.12.6. SWOT Analysis
11.13. Panasonic Corporation
11.13.1. Business Overview
11.13.2. Company Snapshot
11.13.3. Company Market Share Analysis
11.13.4. Company Product Portfolio
11.13.5. Recent Developments
11.13.6. SWOT Analysis
11.14. LG Corporation
11.14.1. Business Overview
11.14.2. Company Snapshot
11.14.3. Company Market Share Analysis
11.14.4. Company Product Portfolio
11.14.5. Recent Developments
11.14.6. SWOT Analysis
11.15. Pioneer Corporation
11.15.1. Business Overview
11.15.2. Company Snapshot
11.15.3. Company Market Share Analysis
11.15.4. Company Product Portfolio
11.15.5. Recent Developments
11.15.6. SWOT Analysis
11.16. Plantronics Inc.
11.16.1. Business Overview
11.16.2. Company Snapshot
11.16.3. Company Market Share Analysis
11.16.4. Company Product Portfolio
11.16.5. Recent Developments
11.16.6. SWOT Analysis
11.17. Samsung Electronics Co. Ltd.
11.17.1. Business Overview
11.17.2. Company Snapshot
11.17.3. Company Market Share Analysis
11.17.4. Company Product Portfolio
11.17.5. Recent Developments
11.17.6. SWOT Analysis
11.18. Polk Audio
11.18.1. Business Overview
11.18.2. Company Snapshot
11.18.3. Company Market Share Analysis
11.18.4. Company Product Portfolio
11.18.5. Recent Developments
11.18.6. SWOT Analysis
11.19. Sony Corporation
11.19.1. Business Overview
11.19.2. Company Snapshot
11.19.3. Company Market Share Analysis
11.19.4. Company Product Portfolio
11.19.5. Recent Developments
11.19.6. SWOT Analysis
11.20. Yamaha Corporation
11.20.1. Business Overview
11.20.2. Company Snapshot
11.20.3. Company Market Share Analysis
11.20.4. Company Product Portfolio
11.20.5. Recent Developments
11.20.6. SWOT Analysis
11.21. VIZIO Inc.
11.21.1. Business Overview
11.21.2. Company Snapshot
11.21.3. Company Market Share Analysis
11.21.4. Company Product Portfolio
11.21.5. Recent Developments
11.21.6. SWOT Analysis
11.22. Voxx International Corporation
11.22.1. Business Overview
11.22.2. Company Snapshot
11.22.3. Company Market Share Analysis
11.22.4. Company Product Portfolio
11.22.5. Recent Developments
11.22.6. SWOT Analysis
List of Table
1. Global Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
2. Global Wireless, Home Audio Equipment Market, By Region, 2019-2032 (USD Billion)
3. Global Wired, Home Audio Equipment Market, By Region, 2019-2032 (USD Billion)
4. Global Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
5. Global Home Audio Speakers And Systems, Home Audio Equipment Market, By Region, 2019-2032 (USD Billion)
6. Global Home Theatre In-A-Box (HTIB), Home Audio Equipment Market, By Region, 2019-2032 (USD Billion)
7. Global Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
8. Global Digital & Signal Processors, Home Audio Equipment Market, By Region, 2019-2032 (USD Billion)
9. Global Microphones, Home Audio Equipment Market, By Region, 2019-2032 (USD Billion)
10. Global Amplifiers, Home Audio Equipment Market, By Region, 2019-2032 (USD Billion)
11. Global Mixers, Home Audio Equipment Market, By Region, 2019-2032 (USD Billion)
12. Global Others, Home Audio Equipment Market, By Region, 2019-2032 (USD Billion)
13. North America Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
14. North America Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
15. North America Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
16. U.S. Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
17. U.S. Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
18. U.S. Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
19. Canada Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
20. Canada Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
21. Canada Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
22. Mexico Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
23. Mexico Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
24. Mexico Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
25. Europe Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
26. Europe Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
27. Europe Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
28. Germany Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
29. Germany Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
30. Germany Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
31. France Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
32. France Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
33. France Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
34. U.K. Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
35. U.K. Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
36. U.K. Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
37. Italy Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
38. Italy Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
39. Italy Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
40. Spain Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
41. Spain Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
42. Spain Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
43. Asia Pacific Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
44. Asia Pacific Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
45. Asia Pacific Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
46. Japan Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
47. Japan Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
48. Japan Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
49. China Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
50. China Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
51. China Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
52. India Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
53. India Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
54. India Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
55. South America Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
56. South America Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
57. South America Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
58. Brazil Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
59. Brazil Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
60. Brazil Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
61. Middle East and Africa Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
62. Middle East and Africa Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
63. Middle East and Africa Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
64. UAE Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
65. UAE Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
66. UAE Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
67. South Africa Home Audio Equipment Market, By Application Type, 2019-2032 (USD Billion)
68. South Africa Home Audio Equipment Market, By Product Type, 2019-2032 (USD Billion)
69. South Africa Home Audio Equipment Market, By Audio Components, 2019-2032 (USD Billion)
List of Figures
1. Global Home Audio Equipment Market Segmentation
2. Global Home Audio Equipment Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top- Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Home Audio Equipment Market Attractiveness Analysis By Application Type
9. Global Home Audio Equipment Market Attractiveness Analysis By Product Type
10. Global Home Audio Equipment Market Attractiveness Analysis By Audio Components
11. Global Home Audio Equipment Market Attractiveness Analysis By Region
12. Global Home Audio Equipment Market: Dynamics
13. Global Home Audio Equipment Market Share By Application Type (2023 & 2032)
14. Global Home Audio Equipment Market Share By Product Type (2023 & 2032)
15. Global Home Audio Equipment Market Share By Audio Components (2023 & 2032)
16. Global Home Audio Equipment Market Share By Regions (2023 & 2032)
17. Global Home Audio Equipment Market Share By Company (2022)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global home audio equipment based on below mentioned segments:
Global Home Audio Equipment Market by Application Type:
Global Home Audio Equipment Market by Product Type:
Global Home Audio Equipment Market by Audio Components:
Global Home Audio Equipment by Region:
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