Summary
A New Market Study, titled “Consumer Audio Market Upcoming Trends, Growth Drivers and Challenges” has been featured on Market Research Future.
Market Highlights
The consumer audio market is expected to register a CAGR of 14% during the forecast period of 2020–2026.
Consumer audio comprises audio electronics intended for home entertainment use, such as shelf stereos, music centers, and surround sound receivers.These equipment are designed to have pleasing looks, and they are meant to sound just pleasing. However, these consumer equipment can seldom fulfill the needs of a serious music producer, audiophile and anyone who is seriously interested in the sound quality rather than looks. The ever-increasing demand from consumers for new features, better quality and lower prices put a constant strain on audio and electronics manufacturers to differentiate on cost efficiency, shorter time to market and outstanding performance. Some of the factors fueling the growth of the global consumer audio market include rising demand for infotainment devices, increasing adoption of advanced wireless audio devices, and proliferation of connected homes. Moreover, increasing demand for home theaters and LCDs is expected to create opportunities in the global market. However, bandwidth constraints and health concerns of audio systems might hamper the market growth over the forecast period.
Regional Analysis
The global consumer audio market is estimated to grow at a significant rate in the near future. The geographical analysis of the consumer audio market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world. Consumer audio systems convert sound signals into electrical signals, process these electrical signals, and convert them back into sound. These devices are designed to shun out all the frequency brackets that tend to sound annoying on prolonged listening. The most common nominal level for consumer audio equipment is −10 dBV, and the most common nominal level for professional equipment is +4 dBu.
As per MRFR analysis, in 2019, North America accounted for the largest share of the consumer audio market. The region hosts several key market players and manufacturers in the region. Furthermore, the increasing adoption of innovative products is contributing to the growth of the regional market. Additionally, increased investments in the consumer electronics industry are expected to propel the growth of the consumer audio market in North America.
Asia-Pacific is expected to be the fastest-growing regional market during the forecast period. China has a high concentration of international manufacturers of wireless speakers and accounts for the largest market share in the region. Favorable government policies are a key factor fueling the growth of the consumer audio market in Asia-Pacific.
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Key players
MRFR has identified the key players in the global consumer audio market. These include Apple Inc., HARMAN International Industries, Inc., Bose Corporation, Sonos, Inc., Sony Corporation, DEI Holdings, Inc., Sennheiser Electronic GmbH & Co. Kg, VIZIO, Inc., VOXX International Corporation, Plantronics, Inc., Ossic Corporation, Phazon, Trüsound Audio, Jam, Earin, Human Inc., Bragi, Jaybird, Devialet, and Dali A/S. The prominent players keep innovating and investing in research & development to offer a cost-effective product portfolio. There have been recent mergers & acquisitions among the key players, a strategy that business entities are utilizing to strengthen their reach to the customers.
Key Segments
The global consumer audio market has been segmented based on product, connectivity, and region.
By product, the global consumer audio market has been segmented into headphones, headsets, speaker systems, soundbars, microphones, and others.
By connectivity, the global consumer audio market has been segmented into wired and wireless.
By region, the consumer audio market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Major Key Points in Table of Content
- Executive Summary
- Scope Of The Report
- Market Research Methodology
- Market Landscape
- Market Overview Of The Global Consumer Audio Market
- Global Consumer Audio Market, By Product
- Global Consumer Audio Market, By Connectivity
- Global Consumer Audio Market, By Region
- Competitive Landscape
- Company Profiles
- Conclusion
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