Global Home Audio Equipment Market Report 2023: Record Surge in Smart Speaker Market in Wake of COVID-19 - Forecast to 2030

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Nov 30, 2023, 13:15 ET

DUBLIN, Nov. 30, 2023 /PRNewswire/ -- 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

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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