New Analysis from Global Industry Analysts Reveals Steady Growth for Home Audio Equipment, with the Market to Reach $53.8 Billion Worldwide by 2026

SAN FRANCISCO, Sept. 8, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Home Audio Equipment - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 16; Released: April 2021
Executive Pool: 3136
Companies: 119 - Players covered include Bose Corp.; Boston Acoustics; Bowers & Wilkins; Creative Technologies, Ltd.; Denon Electronics (USA), LLC; Harman International Industries, Inc.; JVCKENWOOD USA Corp.; Klipsch Group, Inc.; LG Electronics; Nakamichi Corp.; Panasonic Corp.; Polk Audio; Samsung Electronics Co., Ltd.; Sharp Corp.; Sonos, Inc.; Sony Corporation; Velodyne Acoustics, Inc.; VIZIO, Inc.; VOXX International Corp.; Yamaha Corp.; Yamaha Corporation of America and Others.
Coverage: All major geographies and key segments
Segments: Product Segment (Home Theater Systems, Smart Speakers, Sound Bars, Home Audio Systems, Home Theater-in-a-Box)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Home Audio Equipment Market to Reach $53.8 Billion by 2026
Amid the COVID-19 crisis, the global market for Home Audio Equipment estimated at US$23.6 Billion in the year 2020, is projected to reach a revised size of US$53.8 Billion by 2026, growing at a CAGR of 14.6% over the analysis period. Home Theater Systems, one of the segments analyzed in the report, is projected to record a 12.8% CAGR and reach US$23.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Smart Speakers segment is readjusted to a revised 16.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $7.2 Billion in 2021, While China is Forecast to Reach $13.6 Billion by 2026
The Home Audio Equipment market in the U.S. is estimated at US$7.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$13.6 Billion by the year 2026 trailing a CAGR of 21.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.9% and 12.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.5% CAGR.

Sound Bars Segment to Reach US$11.3 Billion by the year 2026
In the global Sound Bars segment, USA, Canada, Japan, China and Europe will drive the 13% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.9 Billion in the year 2020 will reach a projected size of US$9.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.