Global Home Audio Equipment Market 2021 (Includes Business Impact of COVID-19)

  • TBI442697
  • September 16, 2021
  • Global
  • 149 pages
  • Market.US
                                          

Report updated on 11th September, 2021: Global Home Audio Equipment Market 2021 (Includes Business Impact of COVID-19)

Global Home Audio Equipment Market Trends, Drivers, Applications, and Forecast till 2028 is an upcoming report by Trusted Business Insights. In order to provide insightful details regarding the global home audio equipment market, the market report has been divided based on product type, technology, application, distribution channel, and region/ country. Request Covid - 19 Impact The global Home Audio Equipment market size was valued at USD $ 2460.63 million in 2020 and is projected to reach USD$6422.97 million by 2030, and is anticipated to expand at a CAGR of 10.07% over the forecast period from 2020 to 2030.

Home Audio Equipment: Product Overview

Home audio equipment is an audio electronic system installed inside households and are intended to imitate the theatre sound performance. The home audio equipment includes shelf stereos, radio receivers, AV receivers, microphones, tape recorders, smart speakers, and sound bars. Growth Supporting and hindering Factors for Home Audio Equipment Market Increasing adoption of hardware devices for audio such as loudspeakers, headphones, Bluetooth devices, and others for personal and residential use is a key factor expected to drive growth of the target market in years to come. Easy availability of electronic products in different sizes and shapes for house use in stores and on E-commerce websites and M-commerce platforms is one of the prominent factors fueling market growth. Moreover, the ever-growing demand for innovative products by consumers is pushing manufacturers to develop innovative audio solutions for internal and external applications and sustain in the market, which in turn is going to propel the home audio equipment market growth. In addition, increasing use of audio equipment for numerous applications in the gaming or sports industry and for events, special occasions, and festivals is another factor expected to boost growth of the home audio equipment market over the 10-year forecast period. Furthermore, rising income levels, growing inclination of younger generation towards music, increasing investments in R&D activities on development of enhanced home audio equipment are some of the factors anticipated to fuel home audio equipment market growth. Increasing adoption of 3D audio systems is an ongoing trend observed in the global market. This trend is anticipated to gain popularity and support market growth. However, issues on implementation of audio in the virtual room, and rising hearing issues because of constant use of headphones are factors that could hinder target market growth.

Segment Analysis:Global Home Audio Equipment Market

By Product Type:

Amid the product type segments, the home theatre in-a-box segment is anticipated to register significant growth rate in the target market, due to product offerings such as various components including speakers, surround sound receiver, and, also in some cases Blu-ray/ CD/DVD players.

By Technology:

Among the technology segments, the wireless segment is projected to register higher revenue growth, owing to changing consumer demands for high-quality sound without wires, attractive designs and sizes, and unrestricted flexibility. Thus, rapid innovations and increasing R&D activities have boosted demand for the Bluetooth speakers and this is supporting target market growth. In addition, consumers preference for stylized designs and rising demand for wireless Blu-ray home theater systems are some of the major factors driving growth of the segment.

By Application:

Among the applications of home audio equipment, the television segment is anticipated to record highest revenue share in the market, owing to high inclination towards usage of televisions in households and commercial places such as restaurants, hotels, sports bars, etc.

Regional Analysis:

Global Home Audio Equipment Market

The Asia Pacific market is anticipated to record highest revenue share and is projected to register highest growth in terms of value in the target market, attributable to strong presence of prominent home audio equipment manufacturers in countries such as China, South Korea, and Japan. The market in North America is projected to register moderate growth rate in terms of value in the home audio equipment market, due to easy availability of technologically advanced products and high consumer awareness regarding the benefits and features of the products across various countries in the region. The market in Europe is anticipated to contribute moderate revenue share in the global home audio equipment market, followed by markets in MEA and Latin America.

Below are the active patents related to Home Audio Equipment Market.

Patent Number: US7483538B2 Wireless and wired speaker hub for a home theater system Abstract A method and system for communicating audio, video, and/or control signals within a home entertainment system. A plurality of audio channels is communicated between a wireless transmitter and a wireless receiver. The wireless transmitter is located proximate to a speaker housing. In some embodiments the speaker housing also encloses a center channel loudspeaker. The center channel loudspeaker transmits an audio signal to a remote loudspeaker. An exemplary remote loudspeaker is a subwoofer loudspeaker. The subwoofer loudspeaker provides one or more received audio channels to one or more surround loudspeakers. Application File Date:2004-03-02 Application Granted Date: 2009-01-27 Current Assignee: Apple Inc Patent Number: US8307388B2 Automatic adjustment of devices in a home entertainment system Abstract A method of detecting missing devices in a home entertainment system using a wireless home entertainment hub includes obtaining a registration of at least one device that includes a source device. An instruction is received from a user to present program content from the source device. A set of one or more sink devices missing from the home entertainment system for a presentation of the program content based on an assessment by the wireless home entertainment hub of presentation capabilities of the home entertainment system using the at least one device registered with the wireless home entertainment hub is determined. The set of one or more sink devices is presented to the user. Application File Date: 2007-10-31 Application Granted Date: 2012-11-06 Current Assignee: Rateze Remote Mgmt LLC Patent Number: US9462386B2 Wired, wireless, infrared, and powerline audio entertainment systems Abstract A method and system for communicating audio signals between an input device and an output device via a network. The output device can include loudspeakers and headphones. In some embodiments an output device, for example a center channel speaker, transmits audio signals to other output devices. In some embodiments, the output device is coupled to, or combined with, a speaker stand or speaker bracket. The network can be wireless, wired, infrared, RF, and powerline. Application File Date: 2012-01-23 Application Granted Date: 2016-10-04 Current Assignee:Apple Inc

Global Home Audio Equipment Market Segmentation:

Segmentation by Product Type:
  • Home Theatre in-a-box
  • 1 channel
  • 1 channel
  • 1 channel
  • 1 channel
  • Home audio systems
  • Home radios
  • Other home audio accessories
Segmentation by Technology:
  • Wired
  • Wireless
Segmentation by Application:
  • Use for TVs
  • Use for Computers
  • Others
Segmentation by Distribution Channel:
  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Convenience Stores
  • Online Stores

Key Market Players included in the report:

  • Akai Electric Company Ltd.
  • Amazon.com Inc.
  • Apple Inc.
  • Audio Partnership Plc
  • Bose Corporation.
  • Dolby Laboratories, Inc.
  • DTS, Inc.
  • Google LLC (Alphabet Inc.)
  • Harman International Industries, Inc.
  • JVCKenwood Corporation,
  • Koninklijke Philips Electronics NV
  • LG Electronics Inc.
  • Nakamichi Corporation
  • Onkyo
  • Panasonic Corporation
  • Pioneer Corporation
  • Polk Audio
  • Qualcomm
  • Samsung Electronics Co.Ltd.
  • Sanyo Electric Co.
  • Sharp Corporation
  • Sony Corporation.
  • Vizio Inc.
  • Voxx International Corporation
  • Yamaha Corporation

Below are the key development related to Home Audio Equipment Market in 2020 and 2021.

June 2021: Deswell Announces Acquisition of New Manufacturing Equipment. Deswell Industries, Inc. (Nasdaq: DSWL) (“Deswell” or the “Company”) announced the purchase of new manufacturing equipment at both its electronics and plastics divisions. The Company expects to install the new equipment at the respective manufacturing facilities. Source May 2021: Expanding our offering and entering new growth markets – Sonova to acquire Sennheiser Consumer Division. Sonova Holding AG, a leading provider of hearing solutions, has signed an agreement to acquire the Consumer Division from Sennheiser electronic GmbH & Co. KG (Sennheiser). The Sennheiser Consumer Division, which concentrates on the business of headphones and hearables for private customers, is an excellent fit with Sonova’s strategy to lead innovation in hearing experience and to engage consumers early on their hearing journey. The strength of the brand and the well-established complementary distribution network of the Sennheiser Consumer Division represent strong assets to further the strategy of Sonova. Source February 2020: Resideo Acquires Audio-Visual Equipment Distributor Herman ProAV. Acquisition will further enhance the growing pro-AV business within ADI Global Distribution and related overall gross margin expansion. Resideo Technologies, Inc. (NYSE: REZI) announced it has acquired privately held Herman ProAV, based in Miramar, Fla. The newly acquired company is a leading provider and distributor of professional audio-visual (AV) products, procurement services and labor resources to systems integrators in the commercial audio-visual industry. Herman ProAV serves customers across the United States and will be part of Resideos ADI Global Distribution business, a leading wholesale distributor of security, AV and low-voltage products. Source

Table of Contents
Chapter 1. Methodology and Scope                  1.1. Research Methodology                  1.2. Research Scope & Assumptions                  1.3. List of Data SourcesChapter 2. Executive SummaryChapter 3. Global Home Audio Equipment Market Outlook                  3.1. Market Segmentation                  3.2. Market Size and Growth Prospects, 2016 - 2027                  3.3. Value Chain Analysis                  3.4. Market Dynamics                      3.4.1. Market driver analysis                      3.4.2. Market restraint analysis        
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