New Analysis from Global Industry Analysts Reveals Steady Growth for Home Audio Equipment, with the Market to Reach $53.8 Billion Worldwide by 2026
SAN FRANCISCO, Sept. 8, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Home Audio Equipment - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 16; Released: April 2021
Executive Pool: 3136
Companies: 119 - Players covered include Bose Corp.; Boston Acoustics; Bowers & Wilkins; Creative Technologies, Ltd.; Denon Electronics (USA), LLC; Harman International Industries, Inc.; JVCKENWOOD USA Corp.; Klipsch Group, Inc.; LG Electronics; Nakamichi Corp.; Panasonic Corp.; Polk Audio; Samsung Electronics Co., Ltd.; Sharp Corp.; Sonos, Inc.; Sony Corporation; Velodyne Acoustics, Inc.; VIZIO, Inc.; VOXX International Corp.; Yamaha Corp.; Yamaha Corporation of America and Others.
Coverage: All major geographies and key segments
Segments: Product Segment (Home Theater Systems, Smart Speakers, Sound Bars, Home Audio Systems, Home Theater-in-a-Box)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Home Audio Equipment Market to Reach $53.8 Billion by 2026
Amid the COVID-19 crisis, the global market for Home Audio Equipment estimated at US$23.6 Billion in the year 2020, is projected to reach a revised size of US$53.8 Billion by 2026, growing at a CAGR of 14.6% over the analysis period. Home Theater Systems, one of the segments analyzed in the report, is projected to record a 12.8% CAGR and reach US$23.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Smart Speakers segment is readjusted to a revised 16.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $7.2 Billion in 2021, While China is Forecast to Reach $13.6 Billion by 2026
The Home Audio Equipment market in the U.S. is estimated at US$7.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$13.6 Billion by the year 2026 trailing a CAGR of 21.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.9% and 12.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.5% CAGR.
Sound Bars Segment to Reach US$11.3 Billion by the year 2026
In the global Sound Bars segment, USA, Canada, Japan, China and Europe will drive the 13% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.9 Billion in the year 2020 will reach a projected size of US$9.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
Director, Corporate Communications
Global Industry Analysts, Inc.
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SOURCE Global Industry Analysts, Inc.
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