NEW YORK, Dec. 28, 2021 /PRNewswire/ — 41% of the growth will originate from North America for the home audio equipment market.The US is a key market for home audio equipment in North America. Market growth in North America will be faster than the growth of the market in other regions. The home audio equipment market is expected to grow by USD 14.39 billion from 2020 to 2025, progressing at a CAGR of 10.76% as per the latest market report by Technavio.
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Home Audio Equipment Market: Rise in disposable income to drive growth
The rise in consumer disposable income globally will drive the home audio equipment market as it increases the purchasing power of consumers, allowing them to opt for products, which were previously beyond their means. In developed countries, such as the US, household income has been increasing on a yearly basis and not impacted by the decline in the earnings growth rate. The spending capability in emerging nations has also increased with the rise in income levels. With young demographics, rising disposable incomes, improved education, and rapid economic growth, India exhibits a high potential consumer market.
Home Audio Equipment Market: Easy availability of counterfeit products may impede the market growth
The ease of availability of counterfeit products in the global home audio equipment market will be a major challenge during the forecast period. Many unauthorized dealers market and sell fake or impersonated products of reputed brands, such as Sony, JBL, and SAMSUNG. Several vendors offer tutorials and provide blog posts to identify fake products that are easily available in the market. Counterfeiting adversely affects the original ideas and the ability of vendors to generate profits from their licensed products. Hence, the ease of availability of counterfeit home audio equipment will negatively impact the market during the forecast period.
The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge. This home audio equipment market analysis report also provides detailed information on other upcoming trends that will have a far-reaching effect on the market growth.
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Home Audio Equipment Market: Segmentation Analysis
This market research report segments thehome audio equipment marketby Type (smart speakers, home theater systems, and soundbars) and Geography (North America, Europe, APAC, South America, and MEA).
The home audio equipment market share growth by the smart speaker segment will be significant for revenue generation.Technavio report provides an accurate prediction of the contribution of all the segments to the growth of the home audio equipment market size and actionable market insights on each segment.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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Wireless Microphone Market –The wireless microphone market share is expected to increase by USD 3.36 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 15.55%. Download a free sample now!
Wireless Audio Devices Market –The wireless audio devices market share is expected to increase by USD 82.47 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 17.07%. Download a free sample now!
Home Audio Equipment Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 10.76%
Market growth 2021-2025
USD 14.39 billion
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 41%
Key consumer countries
US, China, UK, Japan, and Germany
Leading companies, competitive strategies, consumer engagement scope
Apple Inc., Bose Corp., Koninklijke Philips NV, Kripa Electronics India Pvt. Ltd., LG Electronics Inc., Logitech International SA, Panasonic Corp., Samsung Electronics Co. Ltd., Sony Corp., and Toshiba Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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