Consumer Audio Market Analysis
Market Research Future (MRFR) projects the global Consumer Audio Market size to reach USD 138 billion, registering a CAGR of 14.2% from 2020–2026 (forecast period). These electronic devices can produce pleasant music and look attractive. They are primarily used in homes as sound receivers, music centres and shelf stereos. Consumer audio does not come with the features such as professional audio systems. Professional sound systems and audiophiles have high sound quality.
However, the appearance of such devices is not pleasing. Consumer audios are best in quality, cost-efficient and suitable for the home setting. In recent years, the demand for infotainment products is constantly rising. Connected homes have a high demand for this consumer audio. They are more compatible with the entrainment system of the connected homes.
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The worldwide consumer audio market has been segmented based on product, connectivity, and region.
On the basis of product, the worldwide consumer audio market has been segmented into headphones, headsets, speaker systems, soundbars, microphones, and others.
On the basis of connectivity, the worldwide consumer audio market has been segmented into wired and wireless.
North America to Dominate the Global Market
North America dominated the global market in 2019 and is predicted to do so throughout the forecast period. The increasing adoption of home theatre systems for residential use and increasing smart home deployments in the region are projected to fuel the regional market growth.
MRFR has recognized the key players in the global consumer audio market. These include Apple Inc., HARMAN International Industries, Inc., Bose Corporation, Sonos, Inc., Sony Corporation, DEI Holdings, Inc., Sennheiser Electronic GmbH & Co. Kg, VIZIO, Inc., VOXX International Corporation, Plantronics, Inc., Ossic Corporation, Phazon, Trüsound Audio, Jam, Earin, Human Inc., Bragi, Jaybird, Devialet, and Dali A/S.
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In March 2021, HiSense collaborated with DTS to develop products that will use DTS Play-Fi wireless multi-room audio and surround sound technologies. Hisense will design and manufacture products that will be sold globally in the second half of 2021.
In February 2021, Sennheiser confirmed plans to sell its consumer audio business, including headphones and soundbars. The company intends to devote its full attention to professional audio, including its Neumann microphone division and what Sennheiser refers to as business communications.
In June 2020, Infinity Systems, a subsidiary of Harman, launched its new soundbar, the Infinity Sonic B200, and headphone, the Infinity Glide 510. The Infinity Sonic B200 has 160W peak power and a dedicated wireless subwoofer, which should provide a cinematic, bass-rich experience right in your living room.
In May 2020, Samsung Electronics Co. launched an innovative new series of soundbars, all of which are designed to deliver immersive, captivating sound quality that will enhance the home theatre experience. The new Q, T, and S Soundbar Series integrate seamlessly with Samsung's extensive TV lineup, with premium design to suit the needs of any consumer's home environment.
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