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© farang dreamstime.com Analysis | April 06, 2015

Home audio market goes from strength to strength

The home audio market goes from strength to strength – 142 million devices expected to ship in 2020, with retail value of USD 16.1 billion.
The market for home audio devices, including mobile speakers, room speakers, sound bars and multi-room speakers, grew to USD 9.1 billion in 2014 and is expected to exceed USD 16 billion in 2020. Vendors such as Harman Group, Gibson Group, Samsung, Sonos and Sony are all in a strong position to capitalise on this strong market growth.

Overall market shipments are forecast to grow at a compound annual growth rate of 12% from 2014 to 2020; the three fastest growing market segments are expected to be multi-room speakers, sound bars and mobile speakers.

"Not all markets segments are growing. For example, home theatre in a box and docking stations are falling away while other segments such as multi-room speakers and sound bars take over; suppliers need to refocus their portfolios to align with these rapidly growing segments", commented Peter Cooney, Principal Analyst & Director of SAR Insight & Consulting.

The home audio device market is served by a wide range of device vendors. These include large multi-national electronics device vendors such as Panasonic, Samsung, Sharp and Sony. There are audio device focused suppliers with large product portfolios such as Bang & Olufsen, Harman Group, Klipsch and Onkyo. Suppliers such as Sonos also exist which have narrow product portfolios but large market shares within their chosen market.

“The home audio market is truly vibrant; many established players have really upped their game adding new innovative products to their portfolios whilst many new start-ups are bringing exciting novel products to market”, added Peter Cooney.

The Americas region is expected to remain the largest throughout the forecast period. The North America sub-region will remain the largest throughout the forecast period followed by the Western Europe sub-region. Shipments to the Asia-Pacific region continue to grow rapidly and are expected to surpass those to EMEA in 2016.

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