Report Scope

This report analyzes the global home audio equipment market in terms of product type, sales channel, and geography. On the basis of product type, the market is segmented into home theatre systems, soundbars, and Blue-ray & DVD players. Additionally, based on sales channel, the market is segmented into retail and online/e-commerce. The geographical distribution of the global home audio equipment market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Rising discretionary income resulting in increased consumer spending on audio equipment/accessories and emergence of innovative audio products incorporating technologically advanced features are expected to drive home audio equipment sales during the forecast period 2021 – 2029. However, the availability of low quality, low cost substitutes pose a considerable challenge to the market growth, especially in emerging economies of Asia and RoW, where the market is still largely unorganized.

1.1    Report Description

Purpose of the Report

The purpose of this strategic research study titled “Global Home Audio Equipment Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global home audio equipment market.

Target Audience

• Industry Investors
• Home audio equipment Manufacturers
• Mobile and Media  Device Manufacturers
• Distributors
• End-users

USP and Key Offerings

The report titled “Global Home Audio Equipment Market- Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” offers strategic insights into the global home audio equipment market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on product type, sales channel, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading home audio equipment manufacturers, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes:

• An overview of the global home audio equipment market
• Current and future market trends to justify the forthcoming attractive sub-markets within the home audio equipment market
• Qualitative assessment tools such as market drivers, challenges and future prospects, value chain, and attractive investment proposition.
• Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics.
• A general overview of the industry structure
• Company profiles highlighting key information about the major players operating in the home audio equipment market
• Market competition scrutiny tools such as market share analysis, fractal map, etc.
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the home audio equipment market, offering market size and estimates for the period from 2018 to 2029, keeping in mind the above mentioned factors.

As of 2020, Blu-ray and DVD players dominated the global home audio equipment market. The segment accounted for over half of the global home audio equipment revenue in the same year. DVD players being the traditional and most widely known audio products in both developed and developing countries, account for majority of the market revenue share. The trend shall prolong and the segment is expected to hold on to its leading position through 2029. On the other hand, soundbars are forecast to register highest adoption rate, outpacing Blu-ray and DVD players during the forecast period. Soundbars comparatively consume less space and offer better sound quality than DVD players. With the advancements in technology, manufacturers across the globe are developing soundbars incorporating features like noise cancellation and Bluetooth. Consequently, the average selling prices of soundbars have witnessed an upsurge, which is expected to have positive impact on the revenue share of the segment.

In base year 2020, the sale of home audio equipment including home theatre systems, soundbars, Blu-ray players and DVD players was the largest through retail channel. The segment accounted for around three-fourth of the global home audio equipment market revenue in the same year.  Even though retail distribution plays a crucial role in the sale of home audio equipment, it is anticipated that the sale of home audio equipment would probably increase through online/e-commerce channel than retail channel. The anticipated growth in sale of home audio equipment through the online channel would be driven by the proliferation of e-commerce and convenience offered in purchase.

As of 2020, the global home audio equipment market was led by developed regions including North America and Europe.  The regions collectively accounted for around over two-third of the global home audio equipment market revenue in the same year. The growth in these regions can be collectively credited to the large base of music-savvy consumers, technology advancements, steady rise in consumer spending on audio equipment/accessories, and growing demand for high definition ultra flat panel televisions. Asia Pacific which currently accounts for just over one-fifth of the global market revenue is presumed to witness strong growth during the forecast period. Evolving digital habits of consumers and rising discretionary income of people in the region are expected to drive sales of home audio equipment during the forecast period.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Home Audio Equipment market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Home Audio Equipment market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Home Audio Equipment market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Home Audio Equipment market?
• Which is the largest regional market for Home Audio Equipment market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Home Audio Equipment market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Home Audio Equipment market worldwide?