Home Audio Equipment Market Size By Technology (Wired [Speaker, Receiver, Soundbar, Home Theater In a Box (HTIB)], Wireless [Speaker, Receiver, Soundbar, Home Theater in a Box (HTiB)]), By Distribution Channel (Online, Offline), COVID-19 Impact Analysis,

Home Audio Equipment Market Size By Technology (Wired [Speaker, Receiver, Soundbar, Home Theater In a Box (HTIB)], Wireless [Speaker, Receiver, Soundbar, Home Theater in a Box (HTiB)]), By Distribution Channel (Online, Offline), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

The home audio equipment market is anticipated to exhibit significant growth by 2030 owing to prominent technological advancements in audio systems.

Recently, rapid innovation in home audio equipment has fostered product outlook. For instance, in June 2022, Marshall Amplification, a British music equipment company, unveiled the third generation of its in-home wireless speakers that were manufactured in an eco-friendly manner using vegan fabrics and recycled plastic.

Moreover, major players have been focusing on product innovation and strategic growth initiatives to boost their market presence. For instance, in October 2021, Bose Corporation, an American audio equipment manufacturing company, introduced the SoundLink Flex, the novel addition to its SoundLink Bluetooth speaker series. Flex is integrated with Bose PositionIQ technology that automatically detects the speaker’s orientation, improving sound quality.

The home audio equipment market has been bifurcated in terms of distribution channel, technology, and regions covered.

Based on technology, the home audio equipment industry has been split into wired and wireless. The wired home audio equipment segment has been further classified into home theatre in a box (HTiB), receiver, soundbar, and speaker.

The wired speaker segment is slated to grow massively over the review timeline on account of beneficial features of wired speakers like high connection reliability. The home audio equipment market demand from the wired receiver segment is expected to gain traction through the analysis period as receiver equipment is less expensive, offers high controllability, and can be used for music and home theatre applications as well.

The wired soundbar segment is projected to progress steadily over the study timeframe as a result of surging consumer demand driven by advantageous attributes of wired soundbars like better reliability and stability. Home theater in a box (HTiB) units can create compact, integrated systems that are easy to install, which is contemplated to boost the wired HTiB segment growth in the forthcoming years.

Under wireless, the home audio equipment market has been further divided into soundbar, speaker, home theater in a box (HTiB), and receiver. The wireless speaker segment is poised to grow steadily between 2022 and 2030 attributed to rising consumer interest in wireless speakers integrated with innovative features, such as noise cancellation and echo reduction.

Advancements in wireless technologies and audio over IP (AoIP) have enabled receivers to become a multi-room media hub, which is likely to accelerate the growth of the wireless receiver segment by 2030. The wireless soundbar segment is estimated to progress remarkably through the assessment timespan due to its advanced features like HD audio and surround sound technology.

The wireless HTiB segment is foreseen to experience exponential growth in the forthcoming period. Wireless HTiB comes with built-in Bluetooth functionality and supports easy wireless music playback from smartphones and other devices, which is foreseen to propel segmental development.

With reference to regions covered, the Latin America home audio equipment market is set to display tremendous growth by 2030 as a result of mounting consumer preference for technologically advanced products in the LATAM region. Meanwhile, the Middle East & Africa home audio equipment industry is foreseen to depict sizable expansion through the forecast period on account of growing penetration of IoT devices because of the presence of a strong IT infrastructure in the MEA region.