Home Audio Equipment Market Size

Home Audio Equipment Market Size

Home Audio Equipment Market size surpassed USD 25 billion in 2021 and is anticipated to grow at around 10% CAGR between 2022 and 2030. Global industry shipments are projected to cross 585 million units by 2030. The industry is gaining traction as companies are introducing technologically advanced home audio equipment with different wireless technologies.

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The increasing consumer inclination toward high-end products owing to rising household disposable incomes is adding up to the home audio equipment market demand. The demand for advanced home audio equipment is majorly increasing in developing countries, such as Mexico, India, and the South Africa, due to the growing consumer preference for luxury home appliances.

Several market players such as Bose Corporation and Bowers & Wilkins offer tailor-made home audio equipment solutions to customers to match their home decor and styles. These systems are integrated with various advanced features such as voice assistants and wireless charging to enhance the user experience. These factors are increasing the adoption of home audio equipment as consumers are inclined toward entertainment devices that enhance the audio experience.