ID: MRFR/SEM/8985-HCR | March 2021 | Region: Global | 100 pages
The global consumer audio market is estimated to reach USD 138 billion by 2026, registering a CAGR of 14.2% 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.
The global consumer audio market has been segmented based onproduct, 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.
Global Consumer Audio Market, 2018–2026 (USD Million)
Source: MRFR Analysis
The global consumer Audio Market is estimated to grow at a significant rate during the forecast period from 2020 to 2026. The geographic analysis of Consumer Audiohas been conducted for North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of Asia-Pacific), and the rest of the world (the Middle East & Africa and South America). Among these regions, North America dominated the global market in 2019 and is expected to maintain its dominance throughout the forecast period. On the other hand, Asia-Pacific is expected to witness the fastest growth during the forecast period. The rising adoption of home theatre systems for residential use and increasing smart home deployments in the region are expected to fuel the regional market growth.
MRFR has identified the keyplayers in the global consumer audiomarket. 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. These players focus on innovation and,thus, invest in research & development to present a cost-effective product portfolio. There have been recent mergers & acquisitions among the key players, which is a strategy that several business entities leverage to strengthen their reach to the customers.
|Market Size||USD 138 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Connectivity and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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.|
|Key Market Opportunities||Increasing demand for home theaters and LCDs|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The consumer audio market value can touch USD 138 billion by 2026.
The consumer audio market is expected to display 14.2% CAGR from 2020 to 2026.
Huge demand for infotainment systems by consumers is the major driver of the consumer audio market.
Health concerns pertaining to audio systems and bandwidth restrictions can restrain the consumer audio market.
North America can lead in the consumer audio market till 2026.
Bragi, Dali A/S, Apple Inc., HARMAN International Industries, Inc., VIZIO, Inc., Trüsound Audio, Jam, VOXX International Corporation, Sonos, Inc., Jaybird, DEI Holdings, Inc., Bose Corporation, Sony Corporation, Plantronics, Inc., Devialet, Phazon, Human Inc., Ossic Corporation, Sennheiser Electronic GmbH & Co. Kg, and Earin are key players of the global consumer audio market.