Home Audio Equipment Market share to reach $23.97bn by 2022 - PowerPoint PPT Presentation

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Home Audio Equipment Market share to reach $23.97bn by 2022

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More Details @ Home audio equipment market size was valued at USD 17.41 billion in 2014 and is expected to grow at a CAGR of 4% from 2015 to 2022. Increased demand for home audio networking coupled with technology innovation is likely to propel industry growth. Moreover, rising purchasing power of the customers is also expected to drive the home audio equipment market size over the next seven years. – PowerPoint PPT presentation

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Title: Home Audio Equipment Market share to reach $23.97bn by 2022


1
Global Home Audio Equipment Market to grow at a
CAGR of 4 from 2015 to 2022 Global Market
Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2
Key Insights from Home Audio Equipment Market
  • According to the new market research report
    Home Audio Equipment Market Size By Product
    (Home Radios, Home Theater in-a-box (HTIB), Home
    Audio Speakers Systems), Industry Analysis
    Report, Regional Outlook, Application Potential,
    Competitive Market Share Forecast, 2015 2022
    Global Home Audio Equipment Market forecast to
    grow at a CAGR of 4 from 2015 to 2022, As per a
    report by Global Market Insights, Inc.
  • An upswing in global economy has led to a huge
    sophisticated consumer base. The ever-evolving
    entertainment industry is estimated to register a
    global revenue of approximately USD 1.8 trillion
    by 2017, with electronics media market sharing
    a major portion of this yield. Home audio
    equipment market looks poised to embark its
    significant presence across the electronics
    media industry. Growing consumer inclination
    towards technologically advanced devices and a
    noticeable surge in the purchasing power of the
    consumers will primarily drive the home audio
    equipment market size over the coming years.
  • Evolving technology and consumer expectations
    have highly influenced the home audio system
    market size. Though traditional analog audio
    systems still share a small portion of the
    overall home audio equipment market landscape, a
    large portion has already been captivated by the
    digitized networked audio technology.

3
Continued...
  • Wireless technology is transforming the global
    home audio equipment business space. This
    technology enhances the customer experience by
    offering a perfect blend of portability,
    simplicity, and convenience. Home audio speakers,
    a major component of the home audio equipment
    market, has been under a high influence of the
    growing trend of wireless technology. Home audio
    speakers systems contributed towards 25 of the
    overall home audio equipment market share, and is
    expected to witness a CAGR of 3 over 2015-2022.
  • Home theatre in-a-box or HTIB is another
    lucrative component contributing towards home
    audio system market size. The growth can be
    attributed to the high-quality sound and
    portability features offered by this system. HTIB
    market share is anticipated to be worth USD 6.5
    billion by 2022, registering a CAGR of 5.8 over
    2015-2022.
  • The penetration of mobile devices such as
    smartphones and laptops is changing the home
    audio landscape. Technology giants like Samsung,
    Sony, Bose, LG, Panasonic, Qualcomm, Denon, and
    DTS are aggressively exploring the booming market
    of network connected speakers. It is estimated
    that over the next few years, wireless speakers,
    particularly the connected multi-room audio
    systems will completely take over the traditional
    analog audio systems.

4
Asia Pacific home audio equipment market size by
product, 2012-2022 (USD Billion)

5

Browse Full Market Research Report Of Home Audio
Equipment Market _at_ https//tinyurl.com/jz6w4kk
Request for a Sample of this Research report _at_
https//www.gminsights.com/request-sample/detail/1
57
6
Continued...
  • A major factor contributing towards the global
    home audio equipment market share is the buying
    decision of the customers, which is influenced by
    the refined consumer base. Asia Pacific market
    will witness a strong growth over the coming
    years owing to the rapid industrialization and
    fast-paced technology adoption across this
    region. Moreover, growing electronics industry in
    countries such as India, Japan, Korea, and China
    will also favor APAC market size. Asia Pacific
    home audio equipment market is estimated to
    witness a CAGR of 5 over 2015-2022.
  • Europe market dominated the global home audio
    equipment industry and is likely to maintain its
    position over the coming years. Huge demand for
    residential audio systems and technological
    advancements across this region will drive the
    industry growth. Europe home audio equipment
    market size is estimated to record a CAGR of 3.2
    over 2015-2022.
  • The industry is highly competitive with both
    established and new entrants sharing the business
    space. Product portfolio enhancement in sync with
    the latest technology will be a major growth
    strategy of the manufacturers. For instance, Bose
    and Harman registered top positions in the home
    audio market in 2015, with their appreciable grip
    in Bluetooth speakers segment.

7
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.
  • Regional Trends
  • 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. 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. In addition, rapid urbanization and
    growing acceptance of highly developed
    technologies is likely to boost the regional
    demand from 2015 to 2022.
  • 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.

8
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