DUBLIN--( BUSINESS WIRE)-- The "Audio Equipment Market Opportunities and Strategies to 2034" report has been contributed to ResearchAndMarkets.com's offering.
The worldwide audio devices market reached a worth of nearly $64.42 billion in 2024, having actually grown at a compound yearly growth rate (CAGR) of 5.27% since 2019. The marketplace is expected to grow from $64.42 billion in 2024 to $77.81 billion in 2029 at a rate of 3.85%. The marketplace is then anticipated to grow at a CAGR of 3.11% from 2029 and reach $90.71 billion in 2034.
This report describes and describes the audio equipment market and covers 2019-2024, called the historical period, and 2024-2029, 2034F described the projection duration. The report evaluates the marketplace across each area and for the major economies within each area.
Growth in the historical duration arised from the growing need from automobile industry, increasing popularity of music streaming services, development of video gaming industry and development of the movie and media industry. Factors that adversely affected development in the historical period were high import tariffs and increasing labor expenses. Going forward, increasing appeal of mobile phones, expansion of smart homes, rising social networks impact and increase e-commerce penetration. Factor that could impede the development of the audio equipment market in the future consist of regulative compliance and energy usage concerns.
Asia-Pacific was the largest region in the audio equipment market, accounting for 30.82% or $19.85 billion of the overall in 2024. It was followed by North America, Western Europe and after that the other regions. Going forward, the fastest-growing regions in the audio equipment market will be Middle East and Africa where growth will be at CAGRs of 10.70% and 9.03% respectively. These will be followed by South America and Eastern Europe where the markets are expected to grow at CAGRs of 7.74% and 3.82% respectively.
The worldwide audio devices market is relatively fragmented, with a large number of little gamers operating in the market. The leading 10 rivals in the market made up to 22.52% of the total market in 2023. Apple Inc. was the biggest competitor with a 6.45% share of the marketplace, followed by Sony Corp. with 4.64%, Samsung Electronics Co., Ltd. (Harman International). with 2.68%, Sonos, Inc. with 2.55%, Xiaomi Corporation. with 2.06%, Panasonic Corporation. with 1.52%, Bose Corporation with 0.79%, Koninklijke Philips N.V. with 0.71%, Huawei Technologies Co., Ltd. with 0.61% and Pioneer Corporation. with 0.51%.
patton.com
The audio devices market is segmented by type into loudspeakers, microphones, amplifiers, turntables and other types. The speakers market was the biggest segment of the audio devices market segmented by type, representing 45.52% or $29.32 billion of the total in 2024. Going forward, the speakers segment is expected to be the fastest growing segment in the audio equipment market segmented by type, at a CAGR of 3.93% throughout 2024-2029.
The audio equipment market is segmented by technology into wired and cordless. The wireless market was the largest sector of the audio devices market segmented by technology, accounting for 63.19% or $40.7 billion of the total in 2024. Going forward, the wireless segment is expected to be the fastest growing segment in the audio devices market segmented by innovation, at a CAGR of 4.20% throughout 2024-2029.
The audio equipment market is segmented by end-user into B2B and B2C. The B2B market was the largest section of the audio equipment market segmented by end-user, representing 54.61% or $35.18 billion of the overall in 2024. Moving forward, the B2C segment is expected to be the fastest growing segment in the audio devices market segmented by end-user, at a CAGR of 4.28% during 2024-2029.
patton.com
The top chances in the audio equipment market segmented by type will develop in the speakers segment, which will gain $6.24 billion of global yearly sales by 2029. The top opportunities in the audio devices market segmented by technology will occur in the cordless section, which will gain $9.3 billion of worldwide annual sales by 2029. The top opportunities in the audio devices market segmented by end-user will develop in the B2C section, which will acquire $6.82 billion of international annual sales by 2029. The audio equipment market size will get the most in the USA at $1.37 billion.
Market-trend-based strategies for the audio equipment market include establishing advanced audio/video (AV) receivers and speakers, embracing strategic collaborations approach to develop innovative audio solutions, developing next generation wise amplifiers, establishing ingenious home audio systems, establishing ingenious studio earphones and strategic financial investments to enhance the sound quality, AI-driven audio processing and clever connectivity.
To take advantage of the opportunities, the analyst suggests the audio devices to concentrate on smart home AV receivers and speakers, concentrate on wise amplifiers for mobile phones, focus on high-fidelity studio earphones for experts and audiophiles, concentrate on loudspeakers for continual market development, focus on wired audio devices for strong development, expand in emerging markets, continue to concentrate on industrialized markets, concentrate on strategic collaborations to drive innovation, offer competitively priced offerings, focus on targeted digital marketing, continue to utilize B2B promos and focus on B2B market growth.
Major Market Trends
- Next-Generation Loudspeakers Delivering Crystal-Clear Sound
- Strategic Partnerships Driving Innovation in Audio Technology
- Advancements in Smart Amplifiers for Superior Audio Quality
- Advancements in Home Audio for Enhanced Sound Quality and
- Next-Generation Studio Headphones for Audiophiles and Professionals
- Apple Inc. - Sony Corp.
- Samsung Electronics Co., Ltd. (Harman International).
- Sonos, Inc.
- Xiaomi Corporation.
- Panasonic Corporation.
- Bose Corporation.
- Koninklijke Philips N.V.
- Huawei Technologies Co., Ltd.
- Pioneer Corporation.
- LG Electronics.
- Nakamichi Corp., Ltd.
- Yamaha Corporation.
- Goodix Technology.
- Alpine Electronics, Inc.
- Kenwood Corporation.
- NXP Semiconductors.
- Creative Technology Ltd.
- Edifier Technology Co. Ltd.
- JVCKenwood Corporation.
- Akai.
- Intex Technologies.
- Vistron (Dong Guan) Audio Equipment Co., Ltd.
- Imagine Marketing India Private Limited.
- Dixon Technologies.
- Rode Microphones.
- Roland Corporation.
- Shure.
- MIPRO Electronics Co., Ltd.
- Honor Device Co., Ltd.
- V2 Indonesia.
- Sonido Musica Indonesia.
- TOA Electronics Vietnam Co., Ltd.
- QSC Audio Products.
- Hyundai Mobis.
- Hisense Group Co., Ltd.
- KEF.
- TEAC Corporation.
- Onkyo Corporation.
- Krell Industries.
- Behringer.
- Allen & Heath.
- Blaupunkt GmbH.
- Bowers and Wilkins.
- Sennheiser Electronic GmbH & Co. KG.- Dolby Laboratories, Inc.
- AKG Acoustics GmbH.
- Dynaudio A/S.
- Voxx International.
- IRIS Audio Technologies.
- USound GmbH.
- Steinway Lyngdorf.
- Xavian Electronics.
- RDacoustic.
- AudioMaster CZ.
- KV2 Audio.
- Polsound.
- HEM.
- Dreamaudio.
- Wilson Benesch.
- Meze Audio.
- JBL.
- VIZIO.
- McIntosh Group.
- Roon.
- Poly Inc.
- HP Inc.
- Audeze.
- Koss Corporation.
- Antelope Audio.
- Paradigm Electronics.
- Fluance.
- Gradiente.
- Audio Americas.
- Aiwa.
- NEXO.
- Kramer Electronics
For additional information about this report check out https://www.researchandmarkets.com/r/ykallo
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