PUBLISHER: The Business Research Company | PRODUCT CODE: 1675559
PUBLISHER: The Business Research Company | PRODUCT CODE: 1675559
Home audio equipment encompasses electrical devices designed for playing or recording sound within a residential setting. These devices are responsible for reproducing, recording, or processing sound.
The primary types of home audio equipment are speakers, headphones, amplifiers, receivers, digital-to-analog converters (DACs), phono pre-amp, turntables, CD players, digital music streamers, and other product types. Speakers, one of the most common audio devices, connect to a virtual machine to generate sound. Various connectivity types, including wired and wireless, are available at different price points such as low, medium, and high. These devices are distributed through various channels such as online and offline and are used in various applications such as TV, computers, and other applications.
The home audio equipment market research report is one of a series of new reports from The Business Research Company that provides home audio equipment market statistics, including home audio equipment industry global market size, regional shares, competitors with a home audio equipment market share, detailed home audio equipment market segments, market trends, and opportunities, and any further data you may need to thrive in the home audio equipment industry. This home audio equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The home audio equipment market size has grown rapidly in recent years. It will grow from $41.57 billion in 2024 to $46.05 billion in 2025 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to entertainment consumption trends, home theater systems, music streaming services, evolving lifestyles, innovation in audio technologies.
The home audio equipment market size is expected to see rapid growth in the next few years. It will grow to $73.78 billion in 2029 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to smart home integration, growth of high-resolution audio, rising popularity of voice assistants, home renovation and remodeling, premium audio experiences. Major trends in the forecast period include compact and portable audio devices, immersive audio formats like Dolby Atmos, customization and personalization features, sustainability and eco-friendly design, collaborations with streaming services.
The anticipated surge in smart homes is poised to drive the expansion of the home audio equipment market. Smart homes, equipped with various smart devices, offer convenient setups where appliances can be remotely controlled from anywhere with an internet connection through mobile or networked devices. People's interest in adopting smart home devices for luxurious benefits such as technological comforts and easy device access is increasing, resulting in a growing demand for home audio equipment. In 2023, the number of households using smart home devices increased from 57.4 million in 2022 to over 60.4 million, marking a 3% rise from the previous year, as reported by Oberlo. Hence, the proliferation of smart homes is a driving force behind the home audio equipment market.
The expanding construction industry is anticipated to propel the growth of the home audio equipment market in the future. This sector of the economy encompasses the planning, design, development, and execution of physical structures and infrastructure. Within this context, home audio equipment enhances the quality of residential spaces by integrating sound systems for entertainment and ambiance. For instance, a report from the Office for National Statistics, published in February 2022, indicated that the annual construction sector experienced a record increase of 12.7% in 2021 compared to the previous year. Additionally, according to the US Census Bureau in July 2024, the value of construction operations rose from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Consequently, the growth of the construction industry is driving the expansion of the home audio equipment market.
A significant trend gaining traction is product innovations. Leading companies are introducing innovative products to maintain their position in the market. For example, in October 2022, Rode, an Australian manufacturer of high-quality microphones and audio equipment, unveiled Rode X, a new division comprising hardware and software. This includes two microphones and Unify, designed for streaming and gaming. Unify is virtual mixing software allowing users to mix multiple USB microphones and virtual audio sources through a single interface, enhancing audio quality by removing background noise using noise gates, high-pass filters, and compressors.
Major companies are actively developing innovative products such as smart audio equipment to expand their customer bases, boost sales, and increase revenue. Smart audio equipment integrates advanced technologies, connectivity features, and intelligent functionalities into audio devices and systems. For example, in May 2023, Skyball, an India-based consumer electronics company, introduced a home audio product line-up characterized by aesthetically pleasing design and superior sound quality. The line-up includes diverse speakers such as the Portable Sound Bar Neo20, Party Box 600, Party Pillar 1100, Party Pillar 1200, and Party Pillar 1300, offering a seamless blend of form and function.
In April 2022, Sonos, Inc., a US-based audio products manufacturer, acquired Mayht Holding BV (Mayht) for an undisclosed amount, expecting to gain advanced technology and intellectual property. This acquisition aims to further distinguish the Sonos experience and enhance competitive advantage by expanding its audio portfolio. Mayht, based in the Netherlands, is known for developing innovative solutions for audio transducers.
Major companies operating in the home audio equipment market include Amazon.com Inc., Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Sony Corporation, LG Corp., Panasonic Corporation, Pioneer Corporation, Sharp Corporation, Koninklijke Philips Electronics NV, Bose Corporation, JVC KENWOOD Holdings Inc., Dolby Laboratories Inc., Sennheiser Electronic GmbH & Co. KG, Onkyo, Edifier Technology Co. Ltd., Bowers and Wilkins Group Ltd., Creative Technology Ltd., Blaupunkt GmbH, Nakamichi Corporation, DTS Inc., Audio Partnership plc, Digital Theater Systems Inc., Intex Technologies, Vistron (Dong Guan) Audio Equipment Co. Ltd., Audiotonix Group Ltd., Music Tribe
Asia-Pacific was the largest region in the Home Audio Equipment market in 2024. The regions covered in the home audio equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the home audio equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The home audio equipment market consists of sales of hi-fi and home audio speakers, multimedia speaker systems, soundbar speakers, tower speakers, and Bluetooth speakers. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Home Audio Equipment Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on home audio equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for home audio equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The home audio equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.