Home Audio Equipment Market Insights with statistics and Growth Prediction 2021 to 2027

Home Audio Equipment Market Insights with statistics and Growth Prediction 2021 to 2027

The home audio equipment market analysis document represents a detailed collection of prioritized market definitions, industry scope and reach, and pivotal industry insights. Information about the many pitfalls of the market as well as the frequent challenges encountered by core industry players have been summarized in the report. That apart, the document also endorses details about the numerous driving parameters impacting the revenue landscape of this vertical.

The home audio equipment market is estimated to expand at a substantial rate on the back of robust demand for advanced audio-visual equipment and solutions. Increasing worldwide popularity of video-on-demand services has led consumers to use high-quality audio-visual equipment. More number of people are subscribing to services like Netflix and Amazon Prime, which is anticipated to fuel the demand for home audio equipment such as home theatres and soundbars.

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There is a surge in demand for speakers given the trend of AI technology-based speakers throughout the globe. Many companies are offering smart speakers which let users play music, make restaurant reservations, and turn on lights. Smart speakers are integrated with deep learning technology which identifies sound patterns and other data, hence making the interface user-friendly. The adoption of voice recognition technology in speakers enables people to use their voice to give commands to the system. The voice assistant technology recognizes the user’s voice via natural language processing and performs tasks according to the user’s command.

E-commerce players such as eBay and Amazon.com Inc are adopting online retailing and offering an extensive range of products on their portals. The COVID-19 pandemic has given a boost to online retailing as consumers prefer to buy products online to follow social distancing. Furthermore, various offers and discounts given by e-commerce firms encourage people to shop online. Easy product replacement policies have also propelled online retailing in recent years, as well as the availability of high quality, advanced home audio products online.

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North America is experiencing rising popularity of video-on-demand services. Companies like The Walt Disney Company, Netflix, and Hulu are emerging as dominant players in the video-on-demand industry. People are opting for high-end home theatre systems that enable them to enjoy a better viewing experience at home. Meanwhile, soundbars are allowing high quality audio delivery and in turn, enhancing the audiovisual experience. The growing number of people watching on-demand content is likely to drive the regional market share.

Major Key Points from Table of Content:

Chapter 6   Home Audio Equipment Market, By Distribution Channel

6.1    Key trends by distribution channel

6.2    Online

6.2.1    Home audio equipment market estimates and forecast, 2016 – 2027

6.3    Offline

6.3.1    Home audio equipment market estimates and forecast, 2016 – 2027

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