Bluetooth segment anticipated to increase at a high CAGR during the forecast period
In terms of value, the Bluetooth segment by technology is projected to be the most attractive in the global home theater audio systems market during the forecast period. In 2016, the Bluetooth segment was valued at more than US$ 6300 Mn and is expected to witness steady growth in terms of revenue throughout the period of assessment. On the other hand, the NFC segment by technology is expected to register high Y-o-Y growth rates throughout the forecast period. The NFC segment is anticipated to create an incremental opportunity of more than US$ 200 Mn between 2017 and 2025. Revenue from the Wi-Fi technology segment in the global home theater audio systems market is expected to reach more than US$ 2700 Mn in 2017. In terms of value, the Wi-Fi segment is expected to expand at a CAGR of 4.8% during the forecast period 2017 – 2025.
Rising consumer interest in technologically advanced audio devices is one of the significant reasons behind the growth of the global home theater audio systems market
Most audio systems these days are equipped with connectivity features such as Bluetooth and Wi-Fi. Wirelessly connected devices like MP3 players, smartphones, tablets, and laptops facilitate the streaming of audio content when connected to audio systems. The ability of these devices to stream audio content wirelessly is expected to drive the technology segment in the global home theater audio systems market. Technological advancements in various audio devices have transformed the fashion in which music is played and appreciated. The audio industry has witnessed a shift to the rise in demand for wireless audio devices such as Bluetooth speakers and sound bars. End-user demand and adoption of Bluetooth speakers and other such devices is fast gaining traction in the global market, which is fueling revenue growth of the technology segment.
Demand for innovative audio products with technologically advanced features is also likely to boost the technology segment during the projected period. There is a continuous demand for technologically advanced devices in the global home theater audio systems market. Product manufacturers are integrating advanced features such as NFC (Near Field Communication) to provide instant access and integration with streaming devices to provide a seamless streaming of audio and video content to consumers.
Furthermore, consumer preferences are shifting towards connected consumer electronic devices and accessories, which can be connected to smartphones wirelessly from any remote location. These smart audio devices offer an enhanced end-user experience with reduced complexities and are thus becoming more popular among the growing tech savvy population. Growing consumer interest in technologically advanced audio devices is expected to create a positive impact on the global home theater audio systems market.
NFC, Bluetooth, and Wi-Fi technology segments are projected to witness significant growth in various regions across the globe
The NFC segment in the Middle East and Africa home theater audio systems market is estimated to increase from more than US$ 40 Mn in 2017 to over US$ 60 Mn by 2025 end, representing a CAGR of 4.3% from 2017 to 2025. The NFC segment is expected to create incremental opportunity of US$ 18 Mn between 2017 and 2025 in the MEA market. In Europe, the Bluetooth segment is expected to create incremental opportunity of US$ 740.3 Mn between 2017 and 2025. In the North America home theater audio systems market, the Wi-Fi segment is expected to increase 1.44X in terms of value over the forecast period. The Wi-Fi segment is expected to create incremental opportunity of US$ 400.2 Mn between 2017 and 2025 in the North America regional market.
In our new publication titled, “Home Theater Audio Systems Market: Global Industry Trend Analysis 2012 – 2016 and Forecast 2017 – 2025,” we have tried to give a crystal clear picture of the global home theater audio systems market to our clients. Our expert team of analysts have examined this market in detail and have offered exclusive recommendations to the key players operating in the global home theater audio systems market. Based on our recommendations, home theater audio systems manufacturers can focus on expanding their business across several countries where there is rapid urbanization and population growth. Change in the lifestyle of consumers can create opportunities in the global home theater audio systems market. It is to be noted that there are huge market opportunities for the providers of electronic devices in untapped rural markets. The main factor supporting these opportunities is that Asia and Africa have a large portion of rural population and the rural markets in these regions have huge potential, which is establishing the bottom of the pyramid for two major economies of the world. According to our expert team of analysts, in order to target these markets, consumer electronics manufacturers can lower the prices of products such as smartphones, feature phones and TVs, thereby expanding their customer base.
Another factor that we have noted while studying this market is that wireless technology constitutes Wi-Fi, Bluetooth and NFC. The market is steadily growing towards wireless interconnectivity. Consumers prefer wireless technology over wired technology that allows flexibility in placement. Long-term contracts with business partners help increase business revenue and new innovation strategies enabling quality and after sales service in new potential markets. Establishment of strong sales channels and in-house manufacturing of the devices is likely to remain as the key strategy of manufacturers to facilitate their sales growth.
We have thoroughly analyzed the various market opportunities for home theater audio systems manufacturers
Multi-room streaming is one of the key opportunities for home theater audio systems manufactures. Multi-room audio systems allow customers to play different songs through different applications installed on smartphones without disturbing the sound quality. Multi-room audio systems allow users to connect with audio systems either using Wi-Fi Airplay or using Bluetooth. This technology provides a huge opportunity for manufacturers to improve in the near future. Another technology such as integrating home audio devices with wearable devices enable manufacturers to develop smart and networked speakers. Software configuration on wearable devices allows OEMs to create truly optimized smart speakers across various product tiers and categories. The integrated platform brings together a unique combination of processing capabilities, connectivity options, voice user interfaces, and premium audio technologies to help meet increasing consumer demand for comprehensively featured, highly intuitive smart speakers.
The market is segmented as follows:
By Channel Type
By Sales Channel
By End User
Report Structure and Research Methodology
Macro-economic indicators such as GDP, wholesale & retail trade, merchandise trade, and prices have been considered to arrive at the indicated market numbers. Top-down approach has been used to assess market numbers for each category, while bottom-up approach has been used to counter-validate the market numbers. Economic fluctuations have been considered while forecasting market numbers. To understand this market well, our analysts have conducted interviews with industry experts, industry players, distributors, and retailers for data collection and verification. In-depth secondary research is used to determine top industry players, products, applications, overall market size, industry connotations, distributors and software developers.