- Opportunity and Forecast, 2016-2025
Home audio equipment is a network of audio devices, which include stereo, TV, computer, and speakers distributed across home. Technologically advanced digital audio systems are able to overcome limitations of traditional analog systems by providing enhanced functionality, improved features, and economical design. The combination of personal computers and consumer electronics has enabled audio equipment to improve its capabilities by connecting to various devices at home. Bluetooth and Wi-Fi enabled systems have emerged along with wireless audio systems. High quality of sound and mobility are some of the features for prominence of home audio equipment throughout the world.
Technological innovation, increase in purchasing power, upsurge in usage of internet exclusive entertainment, and high-speed data streaming fuel the global home audio equipment market growth. High initial cost and maintenance issues are expected to limit the growth of the industry. Emerging technologies, including DTS Neo, Dolby Atmos, and others are expected to create new avenues in the industry.
The global home audio equipment market is segmented based on product and geography. Based on product, the market is segmented into home theater in-a-box (HTIB), home radios, and home audio speakers & systems. Geographically, it is analyzed across Asia-Pacific, Europe, North America, and LAMEA.
Key manufacturers operating in the industry are LG Electronics, Sony Corporation, Panasonic Corporation, Audio Partnership Plc, Bose Corporation, Dolby Laboratories Inc., DTS Inc., Intex Technologies, JVC Kenwood Corporation, Nakamichi Corporation, and Niles Audio Corporation. These market players have adopted new product launches, partnerships, expansion, mergers & acquisitions, collaborations, joint ventures, and other strategies to strengthen their position and gain competitive edge in the global market.
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