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Home Audio Equipment Market Detailed Analysis of Current Industry Figures with Forecasts Growth By 2024

Latest updates on Home Audio Equipment market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in addition to the market share analysis and the contribution of the prominent contenders toward the overall industry.

Home audio equipment market is expected to grow owing to the growing penetration of internet of things (IoT) technology across the globe. With the introduction of IoT, consumers are increasingly demanding the devices compatible with multiple other devices to increase convenience and enhance experience. For instance, smart speaker range by Amazon perform several other functions that control smart homes, including control heaters, fans, lights, and thermostats. With the proliferation of this technology, the demand for audio devices that perform such functions is expected to propel the home audio equipment market growth.

With the advancements in the technology, customers can buy speakers without complicated racks & components that deliver desired quality of sound. Growing focus on wireless capabilities in these devices is gaining consumer attention and the manufacturers in the industry are developing products that appeal to the customers, thus aiding the home audio equipment market. For instance, Bose Corporation recently launched its wireless speaker, SoundTouch 10, that can be operated through smartphones and costs USD 200. According to BestBuy, the number of wireless networked soundbars sold has increased two-fold in the last few years.

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Home Audio Equipment Market is set to exceed USD 20 billion by 2024, with shipments forecast to surpass 150 million units by 2024; according to a new research report.

Home Audio Equipment Market Detailed Analysis of Current Industry Figures with Forecasts Growth By 2024
Home Audio Equipment Market Detailed Analysis of Current Industry Figures with Forecasts Growth By 2024

Request Sample Copy of this Report @ https://www.cuereport.com/request-sample/43928

Wireless technology enabled gadgets are expected to gain substantial share in the home audio equipment market over the forecast period, owing to increasing operability and compatibility of these devices with other devices such as other speakers, smartphones, and tablets. High degree of standardization offered in wireless protocols is expected to benefit the wireless home audio equipment market growth. In 2011, Wireless Speaker and Audio Association was formed to address wireless applications in home-based theater environment. The standardization is supported by major vendors such as Bang & Olufsen, Polk, & Klipsch, component suppliers such as Pioneer & Sharp, and chip makers such as NXP Semiconductors & Silicon Image.

Growing popularity of technologically advanced products such as voice-enabled speakers are expected to challenge the traditional speakers and soundbar growth over the forecast period. Companies in the traditional audio device segment are swiftly upgrading to voice-enabled devices to remain in the competition. For instance, in October 2017, Sonos launched Sonos One with a built-in Alexa assistant. The company has also announced the launch of its Google voice assistant-enabled speaker in 2018.

Major Highlights from Table of contents are listed below for quick lookup into Home Audio Equipment Market report

Chapter 1. Competitive Landscape

  • Company market share
  • Home Audio Equipment Market Competitive analysis of key market players
  • Competitive analysis of other prominent vendors

Chapter 2. Company Profiles

  • Business Overview
  • Financial Data
  • Product portfolio
  • Strategic Outlook
  • SWOT Analysis

Chapter 3. Methodology & Scope

  • Methodology
  • Initial data exploration
  • Home Audio Equipment Market Statistical model and forecast
  • Industry insights and validation
  • Home Audio Equipment Market Scope
  • Definition
  • Methodology and forecast parameters
  • Data Sources

Chapter 4. Executive Summary

  • Home Audio Equipment industry 360º synopsis - 2025
  • Home Audio Equipment Business trends
  • Region trends

Chapter 5. Home Audio Equipment industry Insights

  • Home Audio Equipment Industry segmentation
  • Industry landscape 2025
  • Industry Pitfalls and Challenges
  • Threat of new entrants
  • Threat of substitutes
  • Home Audio Equipment Market Growth potential analysis

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