About Home Audio Speakers
Nowadays, technology is moving at a greater pace and about to get new invention and improvements in electronic devices and gadgets every day. Most of the time is spent on smartphones and computers. Home Audio speaker is an electroacoustic transducer a device which converts an electrical audio signal into a corresponding sound.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 12.75% |
The home audio speaker market is highly fragmented, with a mix of established brands, new startups, and niche players. This competition benefits consumers by driving innovation and keeping prices competitive. However, it can also make it difficult to choose the right speaker for your needs. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Home Audio Speakers market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sony Corporation (Japan), LG Electronics Inc. (South Korea), Samsung Electronics (South Korea), Panasonic Corporation (Japan), Bose Corporation (United States), Yamaha Corporation (Japan), VOXX International Corp (United States), DTS Inc. (United States), Sharp Corporation (Japan), JVC (Japan), Onkyo & Pioneer (Japan), Nortek (United States), Harman (United States) and Vizio (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Creative Technologies, Edifier, Nakamichi Corporation and Vistron Audio Equipment.
Segmentation Overview
AMA Research has segmented the market of Global Home Audio Speakers market by Type (MP3 Players, CD/DVD Players, Mini Disc Players, Rack Systems and Cassette Deck), Application (Commercial and Household) and Region.
On the basis of geography, the market of Home Audio Speakers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Rapid Innovations and Increasing R&D Expenditure with New Innovative Applications and Advanced Technologies such As AI-assisted Devices
Market Growth Drivers:
Growing Adoption of Home Audio Speakers Owing to the Adoption of Smart Home Automation Systems and Rising Usage of Wireless Home Audio Speakers in Event and Party
Challenges:
Risk of Failure of Electronic Devices
Restraints:
High Cost Associated With Home Audio Speakers
Opportunities:
Improved Standard of Living in Developed and Developing Countries and Increasing Purchasing Power in Developing Countries
Market Leaders and their expansionary development strategies
In October 2023, Bose partnered with Google in to integrate Google Assistant into Bose smart speakers. This allows users to control Bose speakers with voice commands through Google Assistant.
In September 2022, Amazon released the Echo Studio update, This update improved the speaker's sound quality and added support for spatial audio.
Key Target Audience
Original Equipment Manufacturers, Raw Material Supplier, Wholesalers, Distributors, and Retailers of Home Audio Speakers, System Integrators, Investors and consultants, Research/Consultancy firms, Technology solution providers, IT Solution Providers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.