Technavio Expects the Global Home Audio Equipment Market to Exceed USD 23 Billion by 2019

LONDON--()--According to the latest market research study released by Technavio, the global home audio equipment market is expected to grow at a CAGR of almost 11% during the forecast period.

Home audio equipment refers to electronic audio devices such as home theaters, speakers, soundbars, Hi-Fi systems, and Blu-ray and DVD players, used at home for entertainment purposes. These audio devices have advanced technological features and are intended to enhance the audio experience of the users. Home audio devices are equipped to support televisions, projectors, and music systems.

“With advances in technology, home audio equipment has travelled a long way from cassettes and VCRs to the USB and Bluetooth enabled home theaters and soundbars,” says Soumya Mutsuddi, lead research analyst at Technavio for consumer electronics.

This research report titled ‘Global Home Audio Equipment Market 2015-2019’, provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecast for various market segments and all geographical regions.

Request sample report: http://goo.gl/bnMQSv

The report segments the global home audio equipment market by product and can be divided into three broad categories which are:

  • Global Blu-ray and DVD players market
  • Global home theaters market
  • Global soundbars market

Global Blu-ray and DVD players market

The global Blu-ray and DVD players market is projected to rise to over 108 million units by 2019, growing at a CAGR of almost 14%.

The technology used in Blu-rays and DVDs is one of the oldest and most widely known and adopted technologies. It is an upgraded version of VCR and has therefore contributed the maximum share to the global home audio equipment market.

“However, with advances in technology, vendors are coming up with more advanced and high-end audio products, which may lead to a decline in the share of the Blu-ray and DVD player segment,” says Soumya.

Global home theaters market

The global home theater market is projected to rise to over 47 million units by 2019, growing at a CAGR of around 14%.

The global home theater market is expected to grow at a moderate pace. One of the main reasons for its growth is that it provides large front displays with good sound quality. However, the product is expensive and therefore it is difficult to adopt for price-sensitive customers. This audio product requires a lot of space as it has large dimensions, which is another reason individuals refrain from adopting it. Therefore, the home theater market is expected to experience a decline in its market share.

Global soundbars market

The global soundbar market is projected to rise to over 33 million units by 2019, growing at a CAGR of almost 25%.

Soundbar is a new technology and was introduced only a few years ago. It is preferred over home theaters and requires much less space compared to the former. Also, the sound quality offered by this product is much better than other types of audio systems such as speakers, and DVD players. As soundbars are new products with advanced technology, they are projected to experience the highest adoption rate during the forecast period.

Technavio analysts highlight the following five vendors as the top contributors to the global home audio equipment market:

  • Bose
  • LG
  • Qualcomm Technologies
  • Sony
  • Yamaha

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market research study released by Technavio, the global home audio equipment market is expected to grow at a CAGR of almost 11% during the forecast period.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com