Global Home Audio Equipment Market Report 2023: Record Surge in Smart Speaker Market in Wake of COVID-19 - Forecast to 2030

DUBLIN, Nov. 30, 2023 /PRNewswire/ -- The "Home Audio Equipment - Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

Global Home Audio Equipment Market to Reach $73.7 Billion by 2030

The global market for Home Audio Equipment estimated at US$36.3 Billion in the year 2022, is projected to reach a revised size of US$73.7 Billion by 2030, growing at a CAGR of 9.2% over the analysis period 2022-2030.

Home Theater Systems, one of the segments analyzed in the report, is projected to record 6.4% CAGR and reach US$18.7 Billion by the end of the analysis period. Growth in the Smart Speakers segment is estimated at 11.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $13.1 Billion, While China is Forecast to Grow at 11.1% CAGR

The Home Audio Equipment market in the U.S. is estimated at US$13.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$9.7 Billion by the year 2030 trailing a CAGR of 11.1% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.6% and 8.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR.

What`s New?

• Special discussions on the global economic climate and market sentiment
• Coverage on global competitiveness and key competitor percentage market shares
• Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and trademarked research platform
• Complimentary updates for one year
• Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Key Players (Total 148 Featured)

• Apple, Inc.
• Amazon.com, Inc.
• Bang & Olufsen A/S
• Arcelik A.S.
• Altec Lansing, Inc.
• Armour Home Electronics Ltd.
• Atlantic Technology
• B&W Group Ltd.
• AIWA
• Aperion Audio
• Audio Partnership PLC - Cambridge Audio
• Alphabet, Inc.
• Ayre Acoustics, Inc.
• Aurender Inc.
• Audio Video Unlimited

MARKET OVERVIEW

• Home Audio Gains as COVID-19 Triggers Shift from Commercial to Home Theaters
• Record Surge in Smart Speaker Market in Wake of COVID-19
• Soundbars Inching towards Ubiquitous Status amid COVID-19 Crisis
• Influencer Market Insights
• World Market Trajectories
• Home Audio Equipment - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
• Home Audio Equipment: A Prelude
• Outlook
• Consumer Location Preference for Watching New Movies Post COVID-19
• Market Challenges
• Competition
• Market Share of Leading Vendors in Global Smart Speaker and Smart Display market: Q2 2021
• Soundbars Global Competitor Market Share Positioning for 2021E
• Recent Market Activity

MARKET TRENDS & DRIVERS

• Homebound Customers Charge Premium Audio Products' Demand amid Pandemic
• Home Audio Technology Exhibits Consistent Evolution with Addition of New Features
• Future Home Theater & Audio Equipment Trends Coming Down the Pipe
• Major Design Trends in Home Theaters
• Digital Boom and Growth in Music Streaming Drives Demand for Wireless Speakers
• Increasing Consumer Preference for Music Streaming Drives Demand for Multi-Room Wireless Speakers for Streaming Music from Cloud Servers: Global Number of Music Streaming Subscribers (In Million) for the Years 2010, 2015, 2017, 2019, 2021 & 2023
• Growing Smart Homes Catalyst to Home Theatre and Other Audio Products
• Growth in Total Number of Smart Homes (In Millions) for the Years 2019, 2021, 2023, 2025 & 2026
• E-Commerce Drives Sales of Home Audio Equipment
• Surging E-commerce Market and Shifting Consumer Behavior Ensure Steady Demand for Home Audio Equipment: Global Retail E-Commerce Revenues (In US$ Trillion) for the Years 2019, 2021, 2023, 2025 & 2026
• Growing Population of Music Listeners & Rise of Mass-Market Audiophiles Augments Business Prospects
• Connectivity: A Critical Feature for Modern Speakers
• Rise in Internet Penetration and Availability of High-Speed Broadband Networks to Spur Opportunities
• World Internet Penetration Rate (in %) by Geographic Region: 2020
• Internet Penetration Rate (%) in Select Countries for 2020
• Device Ownership of Internet Users in %: 2020
• Technology Advancements Drive Significant Improvements in Speaker Systems
• Rise in Home Entertainment Spending Drives Opportunities
• Leading Streaming Services by Subscriber Base (in Million): 2020
• Global SVOD Services Market Breakdown of Subscriber Base (in %) by Service Provider: 2020E
• Global Number of SVoD Subscribers (In Million): 2015-2024
• Rapid Growth of OTT Platforms & Rise in Demand for High-Quality Streaming Content to Drive Market Gains
• Global Number of OTT Video Users (In Million) for the Years 2019, 2021, 2023 & 2025
• Artificial Intelligence (AI) Emerges as a Key Technology to Induce Market Growth
• In-Wall Speakers Gain Consumer Interest
• Soundbars Continue to Grow in Popularity
• New Soundbars Set to Redefine User Listening Experience
• AI-enabled Speakers and Use of Digital Assistants in Speaker Systems Gain Traction
• Bulkier and Larger Speakers Benefit from Better Performance Capabilities
• Rise in Penetration of Large Flat Panel TVs Fuels Demand for Soundbars
• Global Sales of OLED and LED TVs (In Million Units) for the Years 2018, 2020, 2022, 2024, & 2026
• Global Shipments of Televisions by Screen Resolution (2018 & 2022): Percentage Breakdown of Volume Shipments for HD/FHD, 4K and 8K TVs
• A Peek into Consumer Behavior
• Favorable Demographic & Socio-Economic Trends Strengthen Market Prospects
• Rapid Growth in Urban Households
• World Urban Population in Millions: 1950-2050
• Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 2000, 2020 & 2050
• Growing Affluence of Middle Class Consumer Segment

For more information about this report visit https://www.researchandmarkets.com/r/ju2u5d

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