New StrategyR Study Highlights $ 49.9 Billion Global Home Audio Equipment Market by 2026

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SAN FRANCISCO, January 4, 2022 / PRNewswire / – A new market study released by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Home Audio Equipment – Global Market Trajectory and Analysis”. The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.

Global Home Audio Equipment Market

FACTS AT A GLANCE
Editing: 17; Posted: december 2021
Executive pool: 3149
Companies: 148 – Players covered include Bose Corp .; Boston acoustics; Bowers and Wilkins; Creative Technologies, Ltd. ; Denon Electronics (United States), SARL; Harman International Industries, Inc .; JVCKENWOOD United States Corp. ; Klipsch Group, Inc .; LG Electronics; Nakamichi Corp .; Panasonic Corp. ; Polk Audio; Samsung Electronics Co., Ltd. ; Sharp Corp .; Sonos, Inc .; Sony Corporation; Velodyne Acoustics, Inc .; VIZIO, Inc .; VOXX International Corp. ; Yamaha Corp. ; Yamaha Corporation of America et al.
Blanket: All major geographies and key segments
Segments: Product type (home theater systems, smart speakers, sound bars); Technology (wired, wireless)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.

Free project preview – This is an ongoing global program. Preview our research program before making a purchase decision. We offer free access to qualified executives in charge of strategy, business development, sales and marketing, and product management roles at selected companies. Insights provide privileged access to business trends; competing brands; profiles of experts in the field; and market data models and more. You can also create your own bespoke report using our MarketGlass Platform that offers thousands of bytes of data with no obligation to purchase our report. Registry overview

ABSTRACT-

Global Home Audio Equipment Market to Reach US $ 49.9 billion by 2026
High-quality audio equipment is an indispensable part of an enhanced audiovisual experience, with options such as surround sound systems converting home theater into a theater-like audio experience. The increasing accessibility of sophisticated audio equipment should prompt more homeowners to adopt these systems to create an immersive and engaging experience for movies, sports and music. The audiovisual space is also influenced by the increasing attention paid to smart home theaters which produce a high-tech multimedia room. These smart rooms enable an integrated approach and provide users with a universal remote to control their connected devices for a convenient and futuristic audiovisual experience. The demand for audio equipment is also driven by easy access to engaging content and programming that takes AV systems to a higher and more powerful level of performance. New multi-speaker and multi-channel systems are supported by unique soundbars. Technological advancements such as architecturally friendly Dolby Atmos systems, short throw projectors, ambient light rejecting displays, motorized window treatments and large LED screens are improving the outlook for the home theater market. These factors, along with COVID-19, have greatly boosted the audio equipment market and are likely to further drive the market expansion in the years to come.

Amid COVID-19 Crisis, Global Home Audio Equipment Market Is Estimated At 28.5 billion US dollars in 2020, is expected to reach a revised size of US $ 49.9 billion by 2026, with a CAGR of 9.6% over the analysis period. Home theater systems, one of the segments analyzed in the report, is expected to grow at a CAGR of 6.5% to reach US $ 15.1 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the smart speaker segment is readjusted to a revised CAGR of 11.9% for the next 7-year period. This segment currently represents a 40.2% share of the global home audio equipment market. Smart speakers are poised to take advantage of the growing use of cellphones for listening to digital music. The smart speaker market has shown a phenomenal performance amid COVID-19, with global smart speaker shipping registering solid gains in 2020. In addition, the market has maintained its strong momentum in 2021 due to relentless demand for products, allowing companies to reap rich dividends. . Some of the more recent trends in the home theater world include the development of a multi-screen environment; introduction of home theater with social networking capabilities; the transformation of the stereotypical home theater into a hybrid home theater; and the use of better wired and wireless home networks.

The US market is estimated at $ 11.8 billion in 2021, when China is expected to reach $ 6.1 billion by 2026
The home audio equipment market in the United States is estimated at US $ 11.8 billion in 2021. The country currently represents a 36.2% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of 6.1 billion US dollars during the year 2026, with a CAGR of 11.8% throughout the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 7.9% and 9% respectively during the analysis period. In Europe, Germany is expected to grow by around 8.7% CAGR while the rest of the European market (as defined in the study) will reach 3.6 billion US dollars at the end of the analysis period.

Soundbar segment to reach $ 12.9 billion by 2026
Soundbars are enjoying wide adoption in homes following the pulse of COVID-19 and the increasing availability of diverse content and adoption of home entertainment products. Over the past few years, more and more people have started consuming streaming content like free e-books, games, and movies. The sound bar trend is also being catalyzed by the rise of smart TVs and the increasing installation of home theater systems for an enhanced listening and viewing experience. In the global soundbar segment, United States, Canada, Japan, China and Europe will drive the estimated 9.1% CAGR for this segment. These regional markets representing a combined market size of US $ 5.7 billion in 2020 will reach a projected size of US $ 10.7 billion at the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach US $ 1.2 billion by 2026, while Latin America will increase at a 10% CAGR throughout the analysis period. Following

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About Global Industry Analysts, Inc. & StrategyR
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher, the only influencer-focused market research company in the world. Proudly serving more than 42,000 clients in 36 countries, GIA has been recognized for its accurate forecasting of markets and industries for more than 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.



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