According to a new report, published by KBV research, The Global Home Audio Equipment Market size is expected to reach $65.7 billion by 2030, rising at a market growth of 11.7% CAGR during the forecast period.
The Wired segment is expected to witness a CAGR of 12.2% during (2023 - 2030). Numerous types and brands of audio equipment can be used with wired connections. They link audio amplifiers, CD players, and other audio equipment to provide adaptability and versatility between different devices and manufacturers. Because of their flexibility to adapt, users may now establish customized home audio settings depending on their requirements and tastes.
The Online segment is leading the Global Home Audio Equipment Market by Distribution Channel in 2022; thereby, achieving a market value of $40.8 billion by 2030. Online marketplaces and e-commerce sites like Amazon.com, Inc., eBay Inc., Flipkart.com, and Best Buy offer the ability to buy home audio products. Consumers may research and contrast various audio options owing to these internet platforms' detailed reviews, specifications, and ratings.
The Home Theater in-a-box segment is registering a CAGR of 12.3% during (2023 - 2030). The popularity of this segment can be ascribed to how simple it is to operate. The HTiB system is straightforward to install and use, requiring only a fundamental understanding of technology. For more straightforward installation, manufacturers provide thorough instructions and colored linkages. This setup's simplicity could attract tech-savvy people who prefer a plug-and-play system.
The Asia Pacific region dominated the Global Home Audio Equipment Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $23,926.1 Million by 2030. The North America market is experiencing a CAGR of 11.3% during (2023 - 2030). Additionally, The Europe market would experience a CAGR of 11.5% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/home-audio-equipment-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Nimble Holdings Company Limited, Cambridge Audio, Bose Corporation, Dolby Laboratories, Inc., XPERI INC., Harman International Industries, Inc., Intex Technologies, JVCKENWOOD Corporation, LG Electronics and Nakamichi Corporation.
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