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Home Audio Equipment Market Market Booming Segments Investors Seeking Stunning Growth by 2028 | Dolby Laboratories Inc., Panasonic Corporation, Koninklijke Philips Electronics NV, and LG Electronics Inc.

Signature 5.1 Speaker System with Bipolar Speakers (Black) | Fluance

The global home audio equipment market was valued at US$ 20.6 Bn in 2019 and is forecast to reach a value of US$ 28.2 Bn by 2027 at a CAGR of 4.0% between 2020 and 2027.

Market Overview: 

The rapidly emerging home audio equipment market is forecast to witness strong growth due to the rising popularity of electronic music technology. Reduced manufacturer concentrate on built-in sound system quality in new television sets, expected to further accentuate the demand for external sound solutions in the home audio industry. Likewise, the increased use of wireless devices to stream music or communicate with others, in addition to the convenience offered by digital connections to iPods and other portable media players, are expected to contribute to the growing consumer interest in home audio equipment. Rising popularity of online trading sites offering a wide range of pre-owned home audio equipment is also expected to boost the sales of previously owned audio systems in the coming years. Ultimately, the increased demand and lower supply of home audio equipment lead to a fall in prices, which in turn will spur consumers to purchase more sophisticated equipment at lower prices.

Competitive Analysis:

Major players operating in the global home audio equipment market are focused on launching new products to expand their product portfolio. For instance, in May 2020, Dolby Laboratories partnered with TIDAL, a music and entertainment streaming platform, to launch Dolby Atmos Music.

Major players operating in the global home audio equipment market include, 

Akai Electric Co. Ltd, Nakamichi Corporation, Dolby Laboratories Inc., Sanyo Electric Co. Ltd., DTS Inc., Bose Corporation, JVC KENWOOD Holdings Inc., Panasonic Corporation, Koninklijke Philips Electronics NV, and LG Electronics Inc.

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Market Dynamics

Increasing number of smartphone users is expected to propel growth of the global home audio equipment market over the forecast period. For instance, according to Pew Research Center, 76% of adults in the U.K. owned a smartphone in 2018. Moreover, increasing disposable income is also aid in growth of the market. For instance, according to the Bureau of Economic Analysis, the personal income in the U.S. increased U$ 106.8 billion (0.6 percent) in February 2020 and disposable personal income increased US$ 88.7 billion (0.5 percent) and personal consumption expenditures increased $27.7 billion (0.2 percent).

Growing e-commerce sector is expected to offer lucrative growth opportunities for players in the global home audio equipment market. For instance, according to India Brand Equity Foundation, the e-commerce sector in India is expected to reach US$ 200 billion by 2026 from US$ 38.5 billion as of 2017. Moreover, emergence of Covid-19 and increasing investment in OTT platforms is also expected to aid in growth of the market. For instance, in December 2020, Toonz Media Group partnered with digital content distribution platform OTTera to provide technology support for the Group’s brand-new OTT platform.

Geographically, the report examines production, consumption, revenue, market share, growth rate, and forecasts for the following regions:

?North America (United States, Canada)

?Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

?Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

?Latin America (Brazil, Mexico, Others)

?The Middle East and Africa (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria)

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 Some of the important questions answered in this report include:

✅ What are the top five Home Audio Equipment Market players?

✅ What will the Home Audio Equipment Market look like in the following years?

✅ Which product and application will dominate the Home Audio Equipment Market?

✅ What are the Home Audio Equipment Market’s drivers and restraints?

✅ Which regional market will represent the highest growth?

✅ What will be the CAGR and market size of the Home Audio Equipment Market over the forecast period?

✅ What is the present market size, what will it be in 2029, and what will be the growth rate?

✅ What are the constraints to market growth?

✅ What market opportunities and risks do the key companies face?

✅ Who are the main competitors, and what is their strategic approach?

✅ What are the market’s entry challenges for new players?

Market Scale and Segment Analysis:

Global Home Audio Equipment Market, By Product:

      • Home Theater in-a-Box
        • 5.1 Channels
        • 6.1 Channels
        • 7.1 Channels
        • 9.1 Channels
      • Home Audio Systems
      • Home Radios
      • Other Home Audio Accessories

Global Home Audio Equipment Market, By Region:

      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • ROW

Company Profiles

    • Akai Electric Co. Ltd *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Nakamichi Corporation
    • Dolby Laboratories Inc.
    • Sanyo Electric Co. Ltd., DTS Inc.
    • Bose Corporation
    • JVC KENWOOD Holdings Inc.
    • Panasonic Corporation
    • Koninklijke Philips Electronics NV
    • LG Electronics Inc.

Key Feature of The Study:

  • This study examines the global home audio equipment market in detail, including market size (in billions of dollars) and compound annual growth rate (in percent) for the projected period (2020-2027), using 2019 as the base year.
  • It shows the attractive investment offer matrix for this market and explains prospective revenue opportunities across different categories.
  • This research also includes information on market drivers, restraints, opportunities, new product launches or approvals, regional outlooks, and competitive strategies used by major companies.
  • It profiles key players in the worldwide home audio equipment market based on regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution tactics, key advancements and strategies, and future plans.

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About Us

Coherent Market Insights is a global market intelligence and consulting organization, focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 32 countries worldwide. We are uniquely positioned to help businesses around the globe deliver practical and lasting results through various recommendations about operational improvements, technologies, emerging market trends and new working methods. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and start-ups looking to establish a foothold in the market. We meticulously study emerging trends across various industries at both the global and regional levels to identify new opportunities for our clientele.

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The post Home Audio Equipment Market Market Booming Segments Investors Seeking Stunning Growth by 2028 | Dolby Laboratories Inc., Panasonic Corporation, Koninklijke Philips Electronics NV, and LG Electronics Inc. appeared first on Gatorledger.

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