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Global Home Audio Equipment Market 2018-2022| Rise in Disposable Income to Boost Growth| Technavio

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06/14/2018 | 05:44pm CEST

The global home audio equipment market is expected to register a CAGR of over 16% during the period 2018-2022, according to the latest market research report by Technavio.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180614005809/en/

Technavio has published a new market research report on the global home audio equipment market from  ...

Technavio has published a new market research report on the global home audio equipment market from 2018-2022. (Graphic: Business Wire)

A key factor driving the market’s growth is the rise in disposable income. The increase in the disposable income of the consumers across the globe will drive the home audio equipment market as it increases the purchasing power of the consumers, allowing them to choose products that were previously beyond their means. In developed countries such as the US, the household income has been increasing on a yearly basis and not impacted by the decline in the earnings growth rate.

This market research report on the global home audio equipment market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

In this report, Technavio highlights the growing demand for customized home theater systems as one of the key emerging trends in the global home audio equipment market:

Global home audio equipment market: Growing demand for customized home theater systems

The demand for customized home theater systems is gaining traction in the home audio equipment market. At present, a few companies offer such services at premium prices compared with home theater systems offered by established brands. For instance, a major player in the market builds personalized home theater systems for a major community, the luxury builders’ market, and their customers.

“Home theater systems are not a viable option for the middle-income segment because of their high cost. Builders do not install or include such services in their projects because of the lack of return on investment. Thus, a key vendor offers turnkey solutions to these builders, allowing them to quantify their investments. The company develops complete home theatre packages in three different categories,” says a senior analyst at Technavio for research on consumer electronics.

Global home audio equipment market: Segmentation analysis

This market research report segments the global home audio equipment market into the following products (home theater system, smart speakers, and sound bars) and key regions (the Americas, APAC, and EMEA).

The home theater system segment held the largest market share in 2017, accounting for nearly 43% of the market. However, the smart speakers segment will surpass this product to become the dominant product segment by 2022, projecting an increase in market share of about 18%.

The Americas held the highest share of the global home audio equipment market in 2017, accounting for a market share of approximately 47%. The market share occupied by this region is anticipated to decrease by almost 4% by 2022. However, the Americas will dominate the global market throughout the forecast period.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

© Business Wire 2018
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