Global Premium Audio Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Premium Audio Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Audio equipment is mainly a general term for audio input and output equipment, and it includes many types of products, which can generally be divided into the following types: amplifiers, speakers, multimedia consoles, digital mixers, audio sampling cards, synthesizers, mid-to-high Frequency speakers, microphones, sound cards in PCs, earphones, etc., other peripheral audio equipment: professional microphone series, earphones, receiver and amplifier systems, etc. A premium audio system can bring users a better listening experience and enable users to better control the audio system and speakers. Generally speaking, premium audio is an audio system that has been provided to home users, business users especially the vehicle manufacturer by a name brand audio manufacturer.

Market Overview:

The latest research study on the global Premium Audio market finds that the global Premium Audio market reached a value of USD 14573.3 million in 2022. It’s expected that the market will achieve USD 18773.11 million by 2028, exhibiting a CAGR of 4.31% during the forecast period.

Online entertainment platforms such as live broadcasts, games, and online audio usher in explosive growth during the period of COVID-19 outbreak

Due to the COVID-19 outbreak, offline physical industries such as movie theaters, restaurants, and theaters are collectively cold, and online entertainment platforms such as live broadcast, games, and online audio usher in an explosive growth. Compared with traditional platforms that feature text, young people prefer sound and video platforms. This means that at the moment when the Internet traffic dividend is about to peak, online audio has become a track with greater penetration space. The epidemic has made audio a good companion in the fight against the epidemic and accelerated the flow of industry. Although the epidemic has brought a lot of trouble to society and enterprises, it also breeds opportunities. On the one hand, staying at home has increased the traffic of online audio platforms; on the other hand, limited by offline activities, more and more institutions and individuals have joined the audio economy.

Logistics and transportation have been restricted in many countries and regions

The new crown epidemic is a test for all walks of life. Due to the COVID-19 outbreak, many countries and regions have been blocked, logistics and transportation have been restricted, and some regions have even suspended services. As a result, the raw materials of premium audio products cannot be transported, and the products of premium audio of various companies cannot be transported out, which has brought a heavy blow to the premium audio market.

Premium audio microphones can be designed with corresponding functions to meet the different needs of users

As one of the oldest audio devices, the microphone plays a very important role in daily life. The microphone of premium audio can have corresponding functions according to the different needs of users. For example, handheld microphones are very suitable for creating an atmosphere when picking up surrounding sounds, which play a pivotal role in stage performances, commercials, news, and talent shows. In addition, when people are recording sounds in a noisy environment, dynamic microphones are an ideal choice, which is why it is favored in live performances. Premium audio microphones are designed with different styles and functions according to the different needs of users to provide better audio services. This is the reason why premium audio can occupy a place in the market.

Bad effect on human body

The use of headsets has become widespread in the business world. However, using headphones can have some potentially harmful health consequences, especially if they are not used and maintained in the best way. Whenever the speaker projects sound directly into the user's ear, it may damage hearing. Some people believe that the volume of a user's headset is the biggest cause of hearing loss. It is recommended to keep the volume on the headset low enough so that someone sitting next to the user cannot hear the conversation. It is also recommended that earphone users rest for a few minutes every half an hour to prevent fatigue of the auditory system. In addition, wearing headphones may also cause bacterial infections. This reduces the frequency with which people use headphones and has a negative impact on the premium audio market.

Development of We media marketing industry

We media refers to the online accounts registered by users on the We media platform, which are used to publish content to the public in various forms such as text, pictures, audio or video content. The Internet economy has been one of the main growth drivers of the global economy in recent years, and the time spent on mobile Internet per capita has increased every year. This provides business opportunities for industry customers, media platforms and We media publishers, and fierce competition in gaining user attention. The development of We media express delivery has laid the foundation for the future development of premium audio.

Region Overview:

Asia-Pacific had the highest growth rate of all regions.

Company Overview:

Bowers & Wilkins is one of the major players operating in the Premium Audio market, holding a share of 3.45% in 2023.

Bowers & Wilkins

Bowers & Wilkins is a manufacturer of speakers and headphones intended to provide superior audio experience. The company designs and sells audio equipment for mobiles, automobile, computers and other electronic devices like home theatres, car sound systems, headphones and outdoor sound systems, providing customers with audio systems that combine engineering innovation and harmonious design.

KEF

KEF is a provider of acoustic products. The company's acoustic products include speakers, home theater, wireless speakers, headphones and installation speaker, enabling their customer to get quality acoustic products.

Segmentation Overview:

As for product types, the Auto Audio segment held the largest market share in 2022.

Application Overview:

By application, the Home Use segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Premium Audio market covered in Chapter 3:

Bowers & Wilkins
Bose Corporation
Naim
Dynaudio
Rockford Corporation
Focal
KEF
Devialet
Bang & Olufsen
Meridian

In Chapter 4 and Chapter 14.2, on the basis of types, the Premium Audio market from 2018 to 2029 is primarily split into:

Home Audio
Professional Audio
Auto Audio

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Premium Audio market from 2018 to 2029 covers:

Home Use
Commercial Use
Automotive Use

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)