Getting rid of wired systems without needing to compromise one bit over the quality is a dream for every homeowner.
A PREMIUM ULTRA-SLIM SOUND BAR WITH INCLUDED WIRELESS SUBWOOFER – 5 powerful full-range drivers deliver BEAUTFUL RICH SOUND WITH DEEP BASS. POLK’S EXCLUSIVE VOICE ADJUST TECHNOLOGY & Dolby Digital Decoding maximizes sound clarity & reduces voice delays
And it seems like that dream of embracing minimal equipment is becoming a reality for many. That is why the global home audio equipment market is reported to reach US $49.9 billion by 2026.
What explains such a high number of home audio equipment? For starters, the market is experiencing a high influx in the wireless audio equipment department.
Now, you can get multi-channel and multi-channel systems that are supported by a single soundbar. And the demand for such systems is already on the rise.
Then comes the advancements in audio technologies. Take Dolby Atmos systems, for example. But that does not mean that the advanced audio techs are the only ones leading the charge in the high influx of home audio equipment.
Along with that, large LED screens, motorized window treatments, short-throw projectors, ambient light rejecting screens, and short-throw projectors are in high demand too. And they are playing a huge role in improving the prospects of the home audio equipment market.
Before, the home audio market was estimated at 36.3 billion USD this year. But it is now projected to reach a revised size of 49.9 billion USD by 2026.
That is a CAGR growth of 9.6 percent over the entire analysis period. One of the segments, Home Theater Systems, is projected to have a 6.5 percent CAGR growth. And it is projected to reach $15.1 billion USD by the end of the analysis period.
Although the estimated projection in 2022 is 13.1 billion USD for the U.S market, China has forecasted to reach 6.1 billion USD by the year 2026.
The U.S market currently accounts for 36.2 percent of the share in the global market. China has the world’s second-largest economy.
As stated, it plans to reach 6.1 billion USD by the year 2026, and it is trailing it with a CAGR growth of 11.8 percent throughout the analysis period.
But China and the U.S markets are not the only geographic markets that will see an increase in the home audio department. There are other noteworthy geographic markets present too.
Among them, there are Canada and Japan. Each forecasts to have a 9 percent and 7.9 percent growth, respectively, over the analysis period.
Then, there is Germany. The home audio equipment market forecasts to grow with an approximate CAGR percentage of 8.7. What about the other part of the European market? As defined in the study, the rest will reach 3.6 billion by the end of the analysis period.
Slava is a man of mystery and no-one seems to know exactly where he is at any point in time. When he isn't enjoying writing about all things audio and technical he can be found researching his next project of interest. The man never rests.
This post was last updated on 2023-03-20 / Some images from Amazon Product API & some links may be affiliate links which may earn us a commission from purchases.