Global Home Audio Market Size (2024 - 2029)

The home audio market is experiencing significant growth, driven by the expansion of offline distribution channels and the evolution of audio equipment from bulky speakers to compact, high-quality sound systems. The increasing accessibility of immersive content and advancements in audio-visual technology are enhancing consumer demand. The popularity of wireless Home-Theater-In-A-Box systems and affordable high-definition televisions is further contributing to the market's expansion. Additionally, the COVID-19 pandemic has accelerated the demand for home audio products as consumers seek enhanced entertainment experiences at home.

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Market Size of Global Home Audio Industry

Global Home Audio Market
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 11.40 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Low

Major Players

Global Home Audio Market Major Players

*Disclaimer: Major Players sorted in no particular order

Home Audio Market Analysis

The global home audio market is expected to register a CAGR of 11.4% during the forecast period (2022-2027). The increasing number of offline distribution channels like departmental stores, hypermarkets & supermarkets, etc., is fueling the sale of home audio equipment.

  • Over the years, the home audio segment has evolved from prominent, cumbersome speakers for powerful sound to sleek and small designs that offer a high-quality sound for a complete cinematic experience. Streaming music at one's fingertips proliferates, with true wireless audio taking a stand among the most popular trends.
  • The most significant development is the democratization of home theatre brought by large-screen, affordable, high-definition television sets that display content in combination with super-high-quality audio. Consumers can now buy speakers that provide remarkably clear and powerful music and do so in extremely small packages.
  • Also, easy access to immersive content, coupled with programming that elevates audio-visual systems to more powerful performance levels, is driving the demand for audio equipment. Home theatre industry prospects are improving due to innovations such as architecturally friendly Dolby Atmos systems, short-throw projectors, motorized window treatments, ambient light rejecting displays, etc.
  • The market is also witnessing an uptick due to the growing popularity of wireless Home-Theater-In-A-Box (HTIB) systems. This can be attributed to their ability to be combined with TVs to provide a better audio experience. Several manufacturers are now producing audio systems at low prices due to technological refinements in Hi-res Audio, surround sound format, and audio clarity. The device eliminates the need for extensive wires flowing throughout the home and enables users to effortlessly link sub-woofers and secondary speakers. The HBIT receiver provides a low-frequency signal to the sub-woofer, and its built-in amplifier produces sufficient power to produce audible sound.
  • Additionally, the home audio segment has witnessed robust growth in demand due to the COVID-19 pandemic in the recent past. The pandemic created a new norm of operating from home. Consumers spend more time on entertainment, personal fitness, and wellness through online resources, which has heightened the need for home audio products like Soundbars, Headphones, and Bluetooth speakers. To serve the trend, companies aim to address consumer needs by launching premium yet affordable tech devices like the Philips TAPB603 Dolby Atmos Soundbar, making the overall high fidelity audio category more accessible.

Home Audio Industry Segmentation

Home audio systems are audio devices/electronics intended for home entertainment usage, such as music centers, surround sound receivers, shelf stereos, etc. The global home audio market is segmented by type (A/V receivers, Hi-Fi systems, soundbars, wireless speakers, dedicated docks), technology (wired, wireless), and geography. The segmentation comprises an in-depth coverage of the global revenue generated from the sale of home audio systems across regions.

By Type
A/V Receivers
Hi-Fi Systems
Sound bars
Wireless Speakers
Bluetooth and/or Wi-Fi Enabled
Smart Speakers (with Virtual Assistant)
Dedicated Docks
Others
By Technology
Wired
Wireless
By Geography
North America
Asia-Pacific
Europe
Rest of the World
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Global Home Audio Market Size Summary

The global home audio market is experiencing significant growth, driven by the evolution of audio equipment from bulky speakers to compact, high-quality sound systems that enhance the cinematic experience at home. The proliferation of streaming services and the rise of true wireless audio are key trends shaping the industry. The democratization of home theater systems, facilitated by affordable high-definition televisions and advanced audio technologies like Dolby Atmos, is making high-fidelity audio more accessible to consumers. The demand for home audio products has been further bolstered by the COVID-19 pandemic, as more people turned to home entertainment solutions. Innovations such as wireless Home-Theater-In-A-Box systems and architecturally friendly audio solutions are also contributing to market expansion.

The Asia-Pacific region is poised to capture a significant share of the market, fueled by technological advancements, the presence of leading audio equipment manufacturers, and the rapid adoption of smart home devices. The region's growth is supported by the increasing popularity of e-commerce platforms, which are enhancing the distribution of audio products. The market is characterized by intense competition, with major players like Sony Corporation, Sonos, Inc., and Bose Corporation striving to expand their market presence through collaborations and product innovations. The integration of voice assistance technology in soundbars and ongoing investments in research and development are further driving the market's expansion, despite challenges such as regulatory restrictions and potential health concerns related to prolonged audio device use.

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Global Home Audio Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Value Chain Analysis

    4. 1.4 Assessment of the Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 A/V Receivers

      2. 2.1.2 Hi-Fi Systems

      3. 2.1.3 Sound bars

      4. 2.1.4 Wireless Speakers

        1. 2.1.4.1 Bluetooth and/or Wi-Fi Enabled

        2. 2.1.4.2 Smart Speakers (with Virtual Assistant)

      5. 2.1.5 Dedicated Docks

      6. 2.1.6 Others

    2. 2.2 By Technology

      1. 2.2.1 Wired

      2. 2.2.2 Wireless

    3. 2.3 By Geography

      1. 2.3.1 North America

      2. 2.3.2 Asia-Pacific

      3. 2.3.3 Europe

      4. 2.3.4 Rest of the World

Global Home Audio Market Size FAQs

The Global Home Audio Market is projected to register a CAGR of 11.40% during the forecast period (2024-2029)

Sonos, Inc., Sony Corporation, Bose Corporation, Samsung Electronics, Co. Ltd. and Panasonic Corporation are the major companies operating in the Global Home Audio Market.

Home Audio Market Report Snapshots

Home Audio Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)