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
Blu-ray and DVD players
In terms of unit shipment, market research analysts have estimated the Blu-ray and DVD players segment to account for more than 55% of the total market share by 2019. Since this segment consists of conventional products, its high awareness in both developed and developing countries is expected to impel growth in this segment during the forecast period.
Geographical segmentation of the home audio equipment market
Geographically, APAC is estimated to be the only region to show strong growth during the forecast period. This region currently accounts for a mere 20% of the total market share, but factors like the increase in disposable income of the populace in APAC are expected to boost its market share in the next four years.
Competitive landscape and key vendors
This market is highly competitive due to the presence of numerous vendors who constantly strive to gain market prominence through product extensions. Vendors in this market compete on the basis of performance, innovation, product features, quality, low cost, selling price, distribution, and financial stability to gain maximum traction during the forecast period.
What will the market size and the growth rate be in 2019?
What are the key factors driving the global home audio equipment market?
What are the key market trends impacting the growth of the global home audio equipment market?
What are the challenges to market growth?
Who are the key vendors in the global home audio equipment market?
What are the market opportunities and threats faced by the vendors in the global home audio equipment market?
Trending factors influencing the market shares of the EMEA, Americas, and APAC?
What are the key outcomes of the five forces analysis of the global home audio equipment market?
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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.