Home Audio Equipment Market Size Is Projected To Reach USD 22.50 billion by 2020: Grand View Research, Inc.
Aug 23, 2016
According to report published by Grand View Research, Inc., global home audio equipment market comprises products such as audio systems, home radios, Home Theater-in-a-box (HTiB) and other accessories.
San Francisco, California, United States - August 23, 2016 /MarketersMedia/ —
The Global Home Audio Equipment Market is expected to reach USD 22.50 billion by 2020, according to a new study by Grand View Research, Inc. Growing consumer demand for high-quality home theater experience attributed to increased disposable income is expected to drive the market over the forecast period. Increasing trend towards deployment of sophisticated equipment, high-speed data streaming, faster internet connectivity and internet-exclusive entertainment are expected to proliferate the need for external audio solutions. Emergence of Bluetooth products coupled with wireless Blu-ray home theater systems is expected to positively impact market growth.
Home audio equipment comprises a wide range of equipment including multi-channel amplifiers, compact audio system and home radios. Manufacturers of this equipment have been striving to expand market penetration by innovating visually less intrusive and user-friendly systems. Therefore, technological advancement in digital technology with changing media options from conventional to latest systems is expected to be positively impact home audio equipment market growth over the next six years. High development cost and fear of hearing loss among the consumers may hamper market growth through the forecast period. Emergence of realistic immersive home audio equipment along with better internet connectivity offers a wide avenue to drive demand for the home audio equipment market.
Access full research report: http://www.grandviewresearch.com/industry-analysis/home-audio-equipment-market
Key findings
• The home audio equipment market comprises products such as audio systems, home radios, Home Theater-in-a-box (HTiB) and other accessories. The home audio systems segment includes MP3 players, mini disc players, compact audio systems, cassette deck, rack system and CD/DVD players. HTiB products include 5.1, 6.1, 7.1 and 9.1 channels and the segment is expected to witness significant growth over the forecast period. This can be attributed to several benefits associated with this technology such as unrestricted mobility and high quality sound systems.
• Widening consumer base in Asia Pacific markets owing to higher affordability and rapid urbanization trends is expected to significantly drive the home audio equipment industry. Demand for digital home radios driven by growing promotional activities is expected to drive regional market growth. The North American market is characterized by rise in unit sales of flat-panel HD TVs.
• Key companies operating in the market include Sony Corporation, Bose Corporation, LG Electronics, JVC KENWOOD Holdings Inc., Philips, Dolby Laboratories Inc. and Akai. Rising emphasis on vertical integration activities in order to obtain greater product reliability and optimized manufacturing throughput is estimated to be the major growth strategy.
View more reports of this category by Grand View Research at: http://www.grandviewresearch.com/industry/electronic-devices
Market Segments:
Home Audio Equipment Product Outlook (Revenue, USD Billion, 2012 – 2020)
• Home Theater in-a-Box
• Home Audio Systems
• Home Radios
• Others
Home Audio Equipment Regional Outlook (Revenue, USD Billion, 2012 – 2020)
• North America
• Europe
• Asia Pacific
• RoW
Access press release of this research report: http://www.grandviewresearch.com/press-release/global-home-audio-equipment-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
For more information, please visit http://www.grandviewresearch.com/industry-analysis/home-audio-equipment-market
Contact Info:
Name: Saurav
Email: [email protected]
Organization: Grand View Research, Inc.
Address: 28 2nd Street, Suite 3036, San Francisco, California, 94105
Phone: 1-415-349-0058
Release ID: 129114
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