Home Audio Equipment Market Growth by Emerging Trends Analysis and Forecasts 2027

Home Audio Equipment Market Growth by Emerging Trends Analysis and Forecasts 2027

A detailed analysis of the home audio equipment market is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the market report also contains information on the pivotal industry insights for core players to look out for.

The home audio equipment market is further driven by an increase in the demand for speakers owing to the escalating trend of AI-ready speakers at the global level. Numerous industry players are providing smart speakers that allow users to turn on lights, play music, and make reservations at restaurants. These smart speakers are combined with deep learning technology that recognizes sound patterns and other data, offering a user-friendly interface.

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In fact, the United States recorded an upsurge of 32 per cent in the number of smart speaker users in the month of January 2019. The implementation of voice recognition technology in speakers helps users to utilize their voice for the provision of numerous commands to the system. Voice assistant technology focuses on the recognition of voice via natural language processing and performs tasks according to the command of the user.

The North America home audio equipment market is projected to record appreciable growth through the analysis period, owing to the rising popularity of video-on-demand services in the region. In 2019, nearly 46 per cent of the broadband households in the U.S. subscribed to two or more OTT services. Prominent home audio equipment manufacturers, comprising The Walt Disney Company, Hulu, and Netflix, are dominating the video-on-demand industry in the region.

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North America has also recorded an increase in the adoption of high-end home theater systems and home audio receivers for enjoying an improved viewing experience. Additionally, soundbars are enabling high-quality audio delivery, improving the audio-visual experience.

In a nutshell, the surging demand for wirelessly connected audio devices will augment home audio equipment market size over the assessment span.

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