Home Audio Equipment Market size to exceed USD 23.97 billion by 2022

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Home Audio Equipment Market size to exceed USD
23.97 billion by 2022 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Home Audio Equipment Market

• Home audio speakers and systems accounted for
  over 25 of the home audio equipment market size
  for 2014 and is anticipated to grow at more than
  3 by 2022. Growth can be attributed to rising
  demand for Bluetooth devices.
• Home theater in-a-box segment revenue exceeded
  USD 4 billion for 2014, various features offered
  such as unrestricted mobility as well as superior
  sound quality will propel demand.
• Europe home audio equipment market size was USD
  5.49 billion. The region will continue to lead
  via the rapid adoption for residential audio
  systems, considerable consumer demand, and high
  retail prices.

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Continued...

• China home audio equipment market size will drive
  the Asia Pacific revenue over the next few years.
  Regional growth is also a result of rapid
  electronics industry proliferation across South
  Korea, Japan, and India.
• Furthermore, rising adoption of sophisticated
  technologies paired with swift urbanization will
  catapult regional growth prospects.
• Major manufacturers include Sony, LG, Panasonic,
  Pioneer, Bose, Philips, Sharp, etc.
• The industry is characterized by participants
  focusing on new product development and
  innovative technologies to maintain competitive
  edge.

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Asia Pacific home audio equipment market size by
product, 2012-2022 (USD Billion)

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360 Analysis

• Product Analysis
• Home audio speakers and systems include rack
  systems, MP3 players, cassette deck, mini disc
  players and CD/DVD players. Surging use of
  Bluetooth devices in expected to provide massive
  growth avenues. Home theater in-a-box (HTIB)
  market was valued at over USD 4 billion in 2014.
• Regional Analysis
• Europe home audio equipment size was valued at
  USD 5.49 billion in 2014 and is anticipated to
  grow at a CAGR of 3.2 from 2015 to 2022. The
  region is likely to continue its dominance over
  the forecast period due to early adoption of home
  audio devices.
• Asia Pacific home audio equipment market share is
  expected to grow at a CAGR of over 5 over the
  forecast period. This can be credited to
  proliferation of electronics industry across
  numerous countries such as Korea, China, India
  and Japan.
• Competitive Market Share
• Sony Corporation, LG Electronics and Panasonic
  Corporation are the key players and accounted for
  over 45 of the overall home audio equipment
  market share in 2014. Other players include
  Pioneer, Sharp, Bose, JVC Kenwood and Onkyo.

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