The global home audio equipment market size 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. The 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 systems, 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 the latest systems is expected to positively impact market growth over the
next six years. High development costs and fear of hearing loss among the
consumers may hamper market growth through the forecast period. The emergence
of realistic immersive home audio equipment along with better internet
connectivity offers a wide avenue to drive demand for the market.
Full Research Report On Home Audio Equipment Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/home-audio-equipment-market
Further key
findings from the study suggest:
- 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 a 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.
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a Sample Copy of the Report @ https://www.grandviewresearch.com/industry-analysis/home-audio-equipment-market/request/rs1
Grand View Research has segmented
the global home audio equipment market on the basis of product and region:
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
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. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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