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Home Audio Equipment Market size to Increase by USD 14.39 Bn | Featuring Top Vendors Including Apple Inc., Bose Corp., Koninklijke Philips NV, and Kripa Electronics India Pvt. Ltd. | Technavio
NEW YORK, May 12, 2022 /PRNewswire/ -- The global home audio equipment market is set to grow by USD 14.39 billion between 2020 and 2025, accelerating at a CAGR of 10.76% during the forecast period. The market is segmented by type (smart speakers, home theater systems, and sound bars) and geography (North America, Europe, APAC, South America, and MEA). The report provides detailed insights into how vendors are performing in terms of revenue generation, market position, product launches, and customer base among others.
Purchase our full report on the home audio equipment market for a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.
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Key takeaways from the home audio equipment market study
- Home audio equipment market size to increase by USD 14.39 billion at 10.76% CAGR between 2020 and 2025
- 9.58% year-over-year growth expected in 2021
- 41% market growth to originate in North America during the forecast period
- Smart speakers segment observed maximum growth in the market in 2021
- Dominant vendors include Apple Inc., Bose Corp., Koninklijke Philips NV, Kripa Electronics India Pvt. Ltd., LG Electronics Inc., Logitech International SA, Panasonic Corp., Samsung Electronics Co. Ltd., Sony Corp., and Toshiba Corp.
Home audio equipment Market: Key segment analysis
The smart speakers segment will generate maximum growth in terms of revenue. Factors such as technological innovations and the increasing adoption of smart homes are driving the adoption of smart speakers. In addition, the increasing spending capacity of consumers, especially in developing countries is contributing to the growth of the segment.
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Home Audio Equipment Market: Growth Drivers and Restraints
The home audio equipment market is driven by the rising disposable incomes of consumers. Globally, the disposable incomes of consumers are increasing steadily. For instance, in developed countries such as the US, the total household spending was USD 12.7 million in 2016 and was USD 14.5 million in 2019. The spending capability of consumers is also increasing in emerging nations with the rise in income levels. For instance, the Indian economy is domestic consumption-driven. The availability of young demographics, rising disposable incomes, improved education, and rapid economic growth have created high growth potential in the consumer market. All these factors have made the high-end electronic devices affordable to a greater population, which is positively impacting the growth of the market in focus.
"Although the growth of smart homes and the demand for smart TVs will further boost the market growth, the easy availability of counterfeit products might reduce the growth opportunities for market players", says an analyst at Technavio.
The home audio equipment market report answers questions such as:
- Is the market structure fragmented or concentrated?
- What was the market size in 2020 and the forecast of the home audio equipment market through 2025?
- Which are the best segment areas to invest in over the forecast period?
- What is the market share of dominant and strong vendors in the home audio equipment market?
- What are the latest trends and regulatory frameworks in the home audio equipment market?
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Home Audio Equipment Market Scope
| Report Coverage
| Details
| Page number
| 120
| Base year
| 2020
| Forecast period
| 2021-2025
| Growth momentum & CAGR
| Accelerate at a CAGR of 10.76%
| Market growth 2021-2025
| USD 14.39 billion
| Market structure
| Fragmented
| YoY growth (%)
| 9.58
| Regional analysis
| North America, Europe, APAC, South America, and MEA
| Performing market contribution
| North America at 41%
| Key consumer countries
| US, China, UK, Japan, and Germany
| Competitive landscape
| Leading companies, competitive strategies, consumer engagement scope
| Companies profiled
| Apple Inc., Bose Corp., Koninklijke Philips NV, Kripa Electronics India Pvt. Ltd., LG Electronics Inc., Logitech International SA, Panasonic Corp., Samsung Electronics Co. Ltd., Sony Corp., and Toshiba Corp.
| Market Dynamics
| Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.
| Customization purview
| If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
|
Table Of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Smart speakers - Market size and forecast 2020-2025
- Home theater systems - Market size and forecast 2020-2025
- Sound bars - Market size and forecast 2020-2025
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Apple Inc.
- Bose Corp.
- Koninklijke Philips NV
- Kripa Electronics India Pvt. Ltd.
- LG Electronics Inc.
- Logitech International SA
- Panasonic Corp.
- Samsung Electronics Co. Ltd.
- Sony Corp.
- Toshiba Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
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