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NEW YORK , May 12, 2022 /PRNewswire/ -- The global home audio equipment market is set to grow by USD 14.39 billion between 2020 and 2025, accelerating at a CAGR of 10.76% during the forecast period. The market is segmented by type (smart speakers, home theater systems, and sound bars) and geography (North America , Europe , APAC, South America , and MEA). The report provides detailed insights into how vendors are performing in terms of revenue generation, market position, product launches, and customer base among others.

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Key takeaways from the home audio equipment market study

Home audio equipment Market: Key segment analysis The smart speakers segment will generate maximum growth in terms of revenue. Factors such as technological innovations and the increasing adoption of smart homes are driving the adoption of smart speakers. In addition, the increasing spending capacity of consumers, especially in developing countries is contributing to the growth of the segment.

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Home Audio Equipment Market: Growth Drivers and Restraints The home audio equipment market is driven by the rising disposable incomes of consumers. Globally, the disposable incomes of consumers are increasing steadily. For instance, in developed countries such as the US, the total household spending was USD 12.7 million in 2016 and was USD 14.5 million in 2019. The spending capability of consumers is also increasing in emerging nations with the rise in income levels. For instance, the Indian economy is domestic consumption-driven. The availability of young demographics, rising disposable incomes, improved education, and rapid economic growth have created high growth potential in the consumer market. All these factors have made the high-end electronic devices affordable to a greater population, which is positively impacting the growth of the market in focus.

"Although the growth of smart homes and the demand for smart TVs will further boost the market growth, the easy availability of counterfeit products might reduce the growth opportunities for market players", says an analyst at Technavio.

The home audio equipment market report answers questions such as:

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Home Audio Equipment Market Scope

Accelerate at a CAGR of 10.76%

North America, Europe, APAC, South America, and MEA

US, China, UK, Japan, and Germany

Leading companies, competitive strategies, consumer engagement scope

Apple Inc., Bose Corp., Koninklijke Philips NV, Kripa Electronics India Pvt. Ltd., LG Electronics Inc., Logitech International SA, Panasonic Corp., Samsung Electronics Co. Ltd., Sony Corp., and Toshiba Corp.

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.

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About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/

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