About Home Audio Devices
Home audio devices are audio electronics such as home theater systems, soundbars, DVD players intended for home entertainment use, such as shelf stereos. There are many types of home audio devices such as Home Theatre In-A-Box (HTiB), Home Audio Speakers & Soundbar and Home Radios.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.0% |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that Japanese and United States Players will contribute the maximum growth to Global Home Audio Devices 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.
LG Electronics Inc. (South Korea), Sony Corporation (Japan), Panasonic (Japan), Bose Corporation (United States), Yamaha (Japan), Harman International Industries (United States), Onkyo Corporation (Japan), Vizio Inc. (United States), Samsung Group (South Korea) and JVC Kenwood Holdings Inc. (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Sharp Corporation (Japan) and VOXX International (United States).
Segmentation Overview
AMA Research has segmented the market of Global Home Audio Devices market by Type (Home Theatre In-A-Box (HTiB), Home Audio Speakers & Soundbar and Home Radios) and Region.
On the basis of geography, the market of Home Audio Devices 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). If we see Market by Technology, the sub-segment i.e. Bluetooth will boost the Home Audio Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online Channels will boost the Home Audio Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Robust Increase in the Distribution Channels and Advancements in the Audio Devices
Market Growth Drivers:
Increased Disposable Income of the People and Growing Consumer Desire for Wireless Music
Challenges:
New Technology Launch by Market Players
Restraints:
Fluctuations in the Raw Material Prices
Opportunities:
Growing Demand from the End-users and Growth in the E-commerce Industry
Market Leaders and their expansionary development strategies
December 12, 2023: Amazon and Bose form a strategic partnership to develop co-branded audio devices. This collaboration leverages Amazon's voice assistant technology and Bose's expertise in audio quality.
January 4, 2024, Apple unveils the HomePod mini (2nd generation) with improved sound quality and support for Thread technology for smart home connectivity.
Key Target Audience
Home Audio Devices Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies and End-users
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.