Report Scope & Overview:
Consumer Audio Market Size was valued at USD 100.72 billion in 2022, and expected to reach USD 291.38 billion by 2030, and grow at a CAGR of 14.2% over the forecast period 2023-2030.
Consumer audio is a type of electronic device used for entertainment. These electronic devices can make pleasant music and are visually appealing. In the home, they are mostly used as sound receivers, music centres, and shelf stereos. Professional audio systems have features that consumer audio does not. The sound quality of professional sound systems and audiophiles is excellent.
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However, the design of such devices is unappealing. Consumer audios are the best in terms of quality, cost-effectiveness, and suitability for use in the home. The demand for infotainment products has been steadily increasing in recent years. This consumer audio is in high demand in connected homes. They work better with the entrainment system of connected homes.
MARKET DYNAMICS:
KEY DRIVERS:
Rising interest in infotainment devices Adoption of advanced wireless audio devices is increasing. The spread of connected homes.
RESTRAINTS:
The loss of audio quality is due to bandwidth constraints.
Radiofrequency usage and restrictions.
OPPORTUNITIES:
Manufacturers are attempting to diversify their business beyond audio.
CHALLENGES:
The health risks associated with audio technology.
IMPACT OF COVID-19:
Covid 19 has caused numerous market disruptions worldwide. North America plays an important role in the Consumer Audio Industry. The consumer audio market is facing a number of challenges in this region. This region's production is being hampered by a shortage of semiconductor chips. Furthermore, the market's supply chain disruption is primarily due to lockdowns. The demand trend has been declining since the first half of the pandemic. The market shipment is gradually increasing beginning in 2021. The expansion of the consumer audio markets is increasing market demand. Even though there are losses in consumer audio, the market is recovering quickly. Demand increased in the market's other developing regions. Consumer audio will be in high demand in emerging economies such as Europe and Asia Pacific.
Based on Product, the consumer audio market is segmented into Microphones, Soundbars, Speaker systems, Headphones and Headsets. The consumer audio market's microphone segment is expected to grow at the fastest CAGR during the forecast period. This can be attributed to the increased use of microphones in everyday life.
Based on Connectivity, the consumer audio market is segmented into wired and wireless. The wireless segment in the connectivity sector is growing at a much higher rate and will boost its growth in the forecasted period.
Based on Application, the consumer audio market is segmented into Education, Commercial, Retail, Government, Industrial and Hospitality. Commercial sector has the highest market in the consumer audio market.
MARKET SEGMENT:
By Product
Microphones
Soundbars
Speaker systems
Headphones
Headsets
By Connectivity
Wired
Wireless
By Application
Education
Commercial
Retail
Commercial
Government
Industrial
Hospitality
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REGIONAL ANALYSIS:
The consumer audio market is divided into three regions: Asia Pacific, Europe, and North America. In North America, consumer audio has a high penetration rate. In North America, there is a high demand for infotainment devices. Market developments are ongoing as a result of high investment. In the region, there is a key player with strong market strategies. Another region experiencing rapid growth in the consumer audio market is Asia Pacific. It is the second-largest region, accounting for a sizable portion of the market. Consumer audio is becoming increasingly popular as the consumer electronics market expands. Consumer audio technologies are used in laptops, PCs, mobile phones, and other appliances. Furthermore, Europe is a critical region with significant market potential. This region is expected to grow rapidly.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
COMPETITIVE LANDSCAPE:
The key players in the consumer audio market are MIDI, Trusound Audio, Shure Incorporated, SONY India, Bose Corporation, Apple Inc, Panasonic Corporation, Devialet, Jaybird, VOXX International Corp, Zebronics India Pvt. Ltd, Samsung & Other Players
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 100.72 Billion |
| Market Size by 2030 | US$ 291.38 Billion |
| CAGR | CAGR of 14.2% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Microphones, Soundbars, Speaker Systems, Headphones, Headsets) • By Connectivity (Wired, Wireless) • By Application (Education, Commercial, Retail, Commercial, Government, Industrial, Hospitality) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | MIDI, Trusound Audio, Shure Incorporated, SONY India, Bose Corporation, Apple Inc, Panasonic Corporation, Devialet, Jaybird, VOXX International Corp, Zebronics India Pvt. Ltd. and Samsung. |
| Key Drivers | • Rising interest in infotainment devices Adoption of advanced wireless audio devices is increasing. The spread of connected homes. |
| Restraints | • The loss of audio quality is due to bandwidth constraints. • Radiofrequency usage and restrictions. |
The market value is expected to reach USD 291.38 billion by 2030.
The key players in the consumer audio market are MIDI, Trusound Audio, Shure Incorporated, SONY India, Bose Corporation, Apple Inc, Panasonic Corporation, Devialet, Jaybird, VOXX International Corp, Zebronics India Pvt. Ltd. and Samsung.
Rising interest in infotainment devices Adoption of advanced wireless audio devices is increasing the spread of connected homes is the driving factors of the Consumer Audio Market.
Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Content
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Consumer Audio Market Segmentation, by product
8.1Introduction
8.2 Microphones
8.3 Soundbars
8.4 Speaker systems
8.5 Headphones
8.6 Headsets
9. Consumer Audio Market Segmentation, by connectivity
9.1Introduction
9.2 Wired
9.3 Wireless
10. Consumer Audio Market Segmentation, by application
10.1 Introduction
10.2 Education
10.3 Commercial
10.4 Retail
10.5 Commercial
10.6 Government
10.7 Industrial
10.8 Hospitality
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12.Company Profiles
12.1 Samsung
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 MIDI
12.3 Trusound Audio
12.4 Shure Incorporated
12.5 SONY India
12.6 Bose Corporation
12.7 Apple Inc
12.8 Panasonic Corporation
12.9 Devialet, Jaybird
12.10 VOXX International Corp
12.11 Zebronics India Pvt. Ltd
13.Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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