Global Home Theater Audio Systems Marke to Rake in Nearly US$ 15,000 Mn by 2025-end
Multi-room audio systems, which enable to play songs through mobile applications, are expected to create huge opportunities for home theater audio systems manufacturers. Integration of home audio systems with wearable devices have compiled manufacturers in developing smart and networked speakers. Global sales of home theater audio systems will account for $ 100 million in 2017, according to a report by Persistence Market Research (PMR). PMR’s report projects 5% CAGR through 2025. Global sales of home audio systems are estimated to reach nearly US $ 15,000 Mn in revenues by 2025-end.
Increasing adoption of wireless home theater audio systems equipped with Wi-Fi and Bluetooth is expected to drive growth in North America. Audio industry in the region has progressed in technological advancements, transforming the fashion into which music is played and appreciated. This is further expected to be fuel demand for home theater audio systems in North America. However, increasing risk of subsequent hearing loss, resulting from prolonged exposure to noise over levels, is likely to inhibit growth in the market in this region.
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Governments in Asia Pacific countries are providing support for in-house manufacturing through various schemes, for example – „Make in India“ scheme by the Indian government. This has been further reduced in manufacturing costs. The home theater audio systems market in APAC is expected to be highly influenced by such initiatives of governments. In addition, increasing population, especially in India and China, is further expected to be the adoption of home theater audio systems in these regions.
However, confined living spaces in APAC countries, owing to ever-growing population, has resulted in high frequency of home theater audio systems, particularly in urban areas. This has led people living in urban areas to adopt personal hearing devices such as earphones, or, Bluetooth speakers. These factors are expected to restrain growth of the home theater audio system market in APAC
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Key market players identified in PMR’s report include Bose Corporation, Harman International Industries, Yamaha Corporation, Sony Corporation, Intex Technologies (India) Ltd, LG Electronics Inc., Samsung Electronics, Pioneer Corporation, VOXX International Corp, Sound United LLC, Koninklijke Philips NV , Bowers & Wilkins, Pioneer Corporation, Bang & Olufsen, Braven LC, Sonos.
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