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

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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
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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.

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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.

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

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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.

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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.
• 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.

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