DUBLIN--( BUSINESS WIRE)-- The "Audio Equipment Market Opportunities and Strategies to 2034" report has been contributed to ResearchAndMarkets.com's offering.
The global audio devices market reached a value of almost $64.42 billion in 2024, having grown at a compound yearly development rate (CAGR) of 5.27% considering that 2019. The marketplace is anticipated to grow from $64.42 billion in 2024 to $77.81 billion in 2029 at a rate of 3.85%. The market is then expected to grow at a CAGR of 3.11% from 2029 and reach $90.71 billion in 2034.
This report describes and explains the audio devices market and covers 2019-2024, called the historical period, and 2024-2029, 2034F called the forecast period. The report examines the marketplace across each region and for the major economies within each area.
Growth in the historic duration resulted from the growing demand from automobile market, increasing appeal of music streaming services, development of video gaming industry and development of the film and media industry. Factors that negatively affected development in the historic period were high import tariffs and increasing labor expenses. Moving forward, increasing appeal of mobile phones, expansion of smart homes, rising social media impact and boost e-commerce penetration. Factor that could impede the development of the audio devices market in the future include regulative compliance and energy consumption concerns.
Asia-Pacific was the biggest region in the audio equipment market, accounting for 30.82% or $19.85 billion of the total in 2024. It was followed by The United States and Canada, Western Europe and then the other regions. Going forward, the fastest-growing areas in the audio equipment market will be Middle East and Africa where development will be at CAGRs of 10.70% and 9.03% respectively. These will be followed by South America and Eastern Europe where the marketplaces are expected to grow at CAGRs of 7.74% and 3.82% respectively.
The worldwide audio devices market is fairly fragmented, with a a great deal of little gamers running in the market. The top ten competitors in the market made up to 22.52% of the total market in 2023. Apple Inc. was the largest rival with a 6.45% share of the marketplace, followed by Sony Corp. with 4.64%, Samsung Electronics Co., Ltd. (Harman International). with 2.68%, Sonos, Inc. with 2.55%, Xiaomi Corporation. with 2.06%, Panasonic Corporation. with 1.52%, Bose Corporation with 0.79%, Koninklijke Philips N.V. with 0.71%, Huawei Technologies Co., Ltd. with 0.61% and Pioneer Corporation. with 0.51%.
The audio devices market is segmented by type into loudspeakers, microphones, amplifiers, turntables and other types. The loudspeakers market was the biggest segment of the audio devices market segmented by type, accounting for 45.52% or $29.32 billion of the total in 2024. Going forward, the loudspeakers segment is anticipated to be the fastest growing segment in the audio devices market segmented by type, at a CAGR of 3.93% during 2024-2029.
The audio equipment market is segmented by technology into wired and wireless. The cordless market was the largest segment of the audio equipment market segmented by technology, accounting for 63.19% or $40.7 billion of the total in 2024. Moving forward, the cordless section is expected to be the fastest growing section in the audio equipment market segmented by innovation, at a CAGR of 4.20% during 2024-2029.
The audio equipment market is segmented by end-user into B2B and B2C. The B2B market was the largest section of the audio devices market segmented by end-user, representing 54.61% or $35.18 billion of the overall in 2024. Moving forward, the B2C segment is anticipated to be the fastest growing section in the audio devices market segmented by end-user, at a CAGR of 4.28% during 2024-2029.
The leading chances in the audio equipment market segmented by type will occur in the loudspeakers section, which will acquire $6.24 billion of worldwide annual sales by 2029. The top opportunities in the audio equipment market segmented by technology will emerge in the wireless segment, which will gain $9.3 billion of global annual sales by 2029. The leading opportunities in the audio equipment market segmented by end-user will occur in the B2C segment, which will gain $6.82 billion of global annual sales by 2029. The audio devices market size will gain the most in the USA at $1.37 billion.
Market-trend-based methods for the audio devices market include establishing innovative audio/video (AV) receivers and speakers, adopting strategic collaborations approach to develop advanced audio options, developing next generation smart amplifiers, establishing innovative home audio systems, developing ingenious studio earphones and tactical investments to boost the sound quality, AI-driven audio processing and clever connectivity.
To make the most of the opportunities, the analyst recommends the audio equipment to focus on clever home AV receivers and speakers, focus on clever amplifiers for mobile phones, focus on high-fidelity studio earphones for professionals and audiophiles, focus on speakers for continual market growth, concentrate on wired audio equipment for strong growth, expand in emerging markets, continue to concentrate on industrialized markets, concentrate on strategic partnerships to drive development, provide competitively priced offerings, concentrate on targeted digital marketing, continue to use B2B promotions and concentrate on B2B market development.
Major Market Trends
- Next-Generation Loudspeakers Delivering Crystal-Clear Sound
- Strategic Partnerships Driving Innovation in Audio Technology
- Advancements in Smart Amplifiers for Superior Audio Quality
- Advancements in Home Audio for Enhanced Sound Quality and Connectivity
- Next-Generation Studio Headphones for Audiophiles and Professionals
- Apple Inc.
- Sony Corp.
- Samsung Electronics Co., Ltd. (Harman International).
- Sonos, Inc.
- Xiaomi Corporation.
- Panasonic Corporation.
- Bose Corporation.
- Koninklijke Philips N.V.
- Huawei Technologies Co., Ltd.
- Pioneer Corporation.
- LG Electronics.
- Nakamichi Corp., Ltd.
- Yamaha Corporation.
- Goodix Technology.
- Alpine Electronics, Inc.
- Kenwood Corporation.
- NXP Semiconductors.
- Creative Technology Ltd.
- Edifier Technology Co. Ltd.
- JVCKenwood Corporation.
- Akai.
- Intex Technologies.
- Vistron (Dong Guan) Audio Equipment Co., Ltd.
- Imagine Marketing India Private Limited.
- Dixon Technologies.
- Rode Microphones.
- Roland Corporation.
- Shure.
- MIPRO Electronics Co., Ltd.
- Honor Device Co., Ltd.
- V2 Indonesia.
- Sonido Musica Indonesia.
- TOA Electronics Vietnam Co., Ltd.
- QSC Audio Products.
- Hyundai Mobis.
- Hisense Group Co., Ltd.
- KEF.
- TEAC Corporation.
- Onkyo Corporation.
- Krell Industries.
- Behringer.
- Allen & Heath.
- Blaupunkt GmbH.
- Bowers and Wilkins.
- Sennheiser Electronic GmbH & Co.
KG.- Dolby Laboratories, Inc.
- AKG Acoustics GmbH.
- Dynaudio A/S.
- Voxx International.
- IRIS Audio Technologies.
- USound GmbH.
- Steinway Lyngdorf.
Electronics.
- RDacoustic.
- AudioMaster CZ.
- KV2 Audio.
- Polsound.
- HEM.
- Dreamaudio.
- Wilson Benesch.
- Meze Audio.
- JBL.
- VIZIO.
- McIntosh Group.
- Roon.
- Poly Inc.
- HP Inc.
- Audeze.
- Koss Corporation.
- Antelope Audio.
- Paradigm Electronics.
- Fluance.
- Gradiente.
- Audio Americas.
- Aiwa.
- NEXO.
- Kramer Electronics
For more details about this report see https://www.researchandmarkets.com/r/ykallo
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international marketing research reports and market data. We provide you with the latest data on global and local markets, key industries, the top business, brand-new products and the current patterns.
