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According to a new report by IMIR Market Research on Global Audio Equipment Market Size was valued at USD 35.47 Billion in 2023. The Audio Equipment market is projected to grow from USD 36.79 Billion in 2024 to USD 49.28 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.72% during the forecast period (2024 - 2032).
Sound recording, reproduction, and manipulation instruments are referred to as audio equipment. Its main role is to process, record, or replicate audio. Among the various types of audio equipment are turntables, amplifiers, microphones, speakers, and others. Signals can be amplified in voltage, current, or power using electronic devices known as amplifiers. These goods come in a variety of price ranges and styles, including wired and wireless, and can be categorised as low-, medium-, or high-cost goods.
Businesses that produce, manufacture, and distribute audio devices and related materials intended for a variety of audio applications across several industries make up the audio equipment industry. Audio equipment is any apparatus used to capture, replicate, or manipulate sound. A variety of devices are used in audio production, such as radios, AV receivers, tape recorders, stereos, speaker systems, and instrument amplifiers. The audio equipment business is involved in the production, marketing, and sales of many types of audio equipment for use in cars, home theatre systems, and special events. The manufacturing companies rely on audio product engineers to design new products on a continuous basis.
Enhanced web access is being demanded by more people in order to benefit from high-speed data streaming, entertainment available exclusively online, and advanced music storage technologies. As more and more industries attempt to use voice recognition to attract customers, speech recognition technologies are becoming increasingly important.
In January 2023 Harman International announced its new partnership with Metra Electronics to enable the pairing of Infinity Kappa perfect Powersports speakers and amplifiers with Meta Electronic's saddle tramp DSP processor system integration and installation equipment for the Harley Davidson motorcycle market. The new Infinity Kappa Perfect PowerSportsamplifier is a high-performance multi-environment amplifier designed to meet the needs of installations with limited space requirements and withstand harsh environments. It features Molex connectors for mounting to the Saddle Tramp DSP and a small footprint that fits easily into tight fairings.
In January 2022 Boat's parent company, Imagine Marketing, joined forces with the electronics manufacturing business Dixon Technologies to create a 50/50 joint venture to produce Bluetooth-enabled music products. In India, the potential joint venture company will design and produce Wireless Audio Solutions.
The report will cover the qualitative and quantitative data on the global Audio Equipment Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.
By Product Type (Home Theatre in-a-box, Home Audio Speakers and Systems, Home Radios, Others), By Technology (Wired, Wireless), By End User (Commercial, Automotive, Home Entertainment, Other End Users), By Distribution Channel (Online, Offline)
Study Period | 2024-32 |
Base Year | 2023 |
Estimated Forecast Year | 2024-32 |
Growth Rate | CAGR of 3.72% from 2024 to 2032 |
Segmentation | By Product Type, By Technology, By End User, By Distribution Channel, By Region |
Unit | USD Billion |
By Product Type |
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By Technology |
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By End User |
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By Distribution Channel |
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By Region |
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The report also helps in understanding Global Home Audio Equipment Market dynamics, structure by analyzing the market segments, and project the Global Home Audio Equipment Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Home Audio Equipment Market make the report investor’s guide.
The market scope is segmented because of by Product Type, by Technology, by End User, by Distribution Channel.
By Product Type
Based on the Product Type of the market is segmented into Home Theatre in-a-box, Home Audio Speakers and Systems, Home Radios, Others.
There are numerous product categories that make up the audio equipment market. All-in-one home theatre systems come with a subwoofer and several speakers, giving a full surround sound setup that's perfect for simulating a movie theatre at home. Individual parts can be chosen by users of home audio speakers and systems to suit their budget and listening choices for a more personalised configuration. One vintage way to listen to AM/FM programmes is with a traditional home radio. In conclusion, the "Others" category includes a broad range of items that serve as personal entertainment, on-the-go listening, and various audio demands, such as portable speakers, soundbars, and headphones.
By Technology
Based on the Technology of the market is segmented into Wired, Wireless.
The markets for wired and wireless technologies in audio equipment are separated. Physical cables are used in traditional wired equipment to link components, providing a dependable connection and maybe better sound quality. These wired arrangements, meanwhile, can be heavy and restrict movement. However, Bluetooth and Wi-Fi technologies are used by wireless audio equipment to send sound signals. This allows for increased portability and comfort, making it ideal for portable speakers, headphones, and even some home theatre systems. For audiophiles seeking the purest listening experience, wired connections may still be preferred even with recent advances in wireless technologies that reduce audio lag and improve sound quality. The decision ultimately comes down to the particular requirements and preferences of the user. Both wired and wireless technologies have benefits and drawbacks.
By End User
Based on the End User of the market is segmented into Commercial, Automotive, Home Entertainment, Other End Users.
A wide variety of end users are served by the audio equipment market. Commercial applications include conference room equipment, background music systems, and public address systems in restaurants, shops, and offices. Sound systems created especially for installation into automobiles are available in the automotive market, offering drivers and passengers a better audio experience. Home entertainment, which includes soundbars, home theatre systems, and speakers for watching films, listening to music, and playing video games at home, is a significant factor. Widely ranging from personal headphones to professional audio equipment used by sound experts and performers, the category Other End Users includes anything from public transportation systems that use speakers to make announcements to personal headphones. This diverse group of final consumers demonstrates the adaptability of audio equipment and its uses in a range of contexts.
By Distribution Channel
Based on the Distribution Channel of the market is segmented into Online, Offline.
The online and offline distribution channels are the two primary parts of the audio equipment market. Online merchants, manufacturer websites, and e-commerce platforms are examples of online channels. Customers can take advantage of this wide range of global products, affordable prices, and the ease of home delivery. However, disadvantages include the potential for longer delivery wait times and the inability to physically test out items before purchasing.
Brick and mortar retailers that focus on electronics or consumer products are referred to as offline channels. Customers can view, handle, and test out audio equipment in these stores before making a purchase. Furthermore, salespeople can offer professional counsel and recommendations that are designed to meet particular demands. On the other hand, compared to internet sellers, physical stores could provide a less inventory of goods at potentially higher costs.
In terms of market share, the Asia Pacific region led the professional audio equipment market in 2023. The reason for this is the ongoing advancements in technology and the existence of major players in the industry, like Yamaha Corporation and Alpine Electronics, in the area.
Additionally, the region is home to booming audio and film markets in nations including Malaysia, South Korea, the Philippines, India, and Asia. The utilisation of professional audio equipment is necessary in these markets, which propels the expansion of professional audio equipment in the area.
Key players and investors from other regions are also drawn to the growing markets. Due to advancements in audio equipment engineering and the development of entertainment-related markets in these countries, Europe and North America are also expected to see substantial growth during the projected period.
Home Audio Equipment Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends:
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20 Apr 2023
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