Global Home Audio Equipment Market Report 2023: Record Surge in Smart Speaker Market in Wake of COVID-19 – Forecast to 2030

In the ever-evolving landscape of home entertainment and technology, the Global Home Audio Equipment Market is moving forward at a significant pace. This comprehensive market research report offers strategic insights that hold the power to transform businesses and enhance market share. Presenting a meticulous analysis of the market trends, growth projections and segment performances, this report is an invaluable tool for making data-driven decisions in the Home Audio Equipment industry.

With a focus on regions like the U.S, China, Japan, Canada, Europe and the Asia-Pacific, the report explores diverse markets and their unique dynamics. Moreover, it provides a detailed profile of key competitors, equipping businesses with the knowledge to stay ahead in a competitive marketplace. The purchase of this report also comes with benefits such as special coverage on different global issues, access to digital archives, and complimentary updates for one year. This report is not just data, but a map to the future of the Home Audio Equipment Market.

The global market for Home Audio Equipment estimated at US$36.3 Billion in the year 2022, is projected to reach a revised size of US$73.7 Billion by 2030, growing at a CAGR of 9.2% over the analysis period 2022-2030.

Home Theater Systems, one of the segments analyzed in the report, is projected to record 6.4% CAGR and reach US$18.7 Billion by the end of the analysis period. Growth in the Smart Speakers segment is estimated at 11.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $13.1 Billion, While China is Forecast to Grow at 11.1% CAGR

The Home Audio Equipment market in the U.S. is estimated at US$13.1 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$9.7 Billion by the year 2030 trailing a CAGR of 11.1% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.6% and 8.6% respectively over the 2022-2030 period. Within EuropeGermany is forecast to grow at approximately 8.2% CAGR.