Global Home Audio Equipment Market 2015-2019
Market outlook of the global home audio equipment market
Home audio equipment generally includes audio devices like home theaters, soundbars, Blu-ray and DVD players, Hi-Fi systems, and speakers that are used for entertainment purpose. The global market for home audio equipment is expected to show strong growth during the forecast period and is envisaged to post a healthy CAGR of more than 10% during the forecast period.
Technavio’s market research analyst has estimated eminent factors, such as the wireless streaming of audio content, to drive market growth during the forecast period. Most audio systems are now equipped with wireless support such as Bluetooth and can wirelessly connect to portable devices like MP3 players, smartphones, tablets, and laptops. The ability of these devices to easily stream audio content wirelessly is expected to bolster the prospects for growth in this market during the forecast period.
Product-based segmentation of the home audio equipment market
Technavio Announces the Publication of its Research Report – Global Home Audio Equipment Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Home Audio Equipment Market: Bose, LG, Qualcomm Technologies, Sony and Yamaha
Other Prominent Vendors in the market are: Altec Lansing, Arcelik, Atlantic Technology, Avnera, Bowers & Wilkins, D&M, Definitive Technology, GoldenEar Technology, Harman, JVC Kenwood, Koninklijke Philips, Leon Speaker, Logitech International, Monitor Audio, Panasonic, Pinnacle Speakers, Pioneer, Samsung, Sceptre, Sharp, Sonos, SpeakerCraft, Toshiba, Vizio, and Voxx International.
Commenting on the report, an analyst from Technavio’s team said: “The growing number of smart homes is a trend in the market. Many homes in developed nations such as the US and the UK are being revamped into smart homes, where, several electronic devices are connected to the home network and can interact with each other. Therefore, home audio systems play a major role in the functioning of smart homes as they replace the audio system in smart TVs and gaming consoles.”
According to the report, a rise in disposable incomes is a major driver of the market. As a result of the economic recovery worldwide, in countries such as the US, the UK, Germany, South Korea, China, and Singapore, the income level of consumers has increased, making it possible for the higher population to afford high-end audio devices.
Further, the report states that technological obsolescence is a major challenge witnessed in the market.
Bose, LG, Qualcomm Technologies, Sony, Yamaha, Altec Lansing, Arcelik, Atlantic Technology, Avnera, Bowers & Wilkins, D&M, Definitive Technology, GoldenEar Technology, Harman, JVC Kenwood, Koninklijke Philips, Leon Speaker, Logitech International, Monitor Audio, Panasonic, Pinnacle Speakers, Pioneer, Samsung, Sceptre, Sharp, Sonos, SpeakerCraft, Toshiba, Vizio, Voxx International.
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