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    Home Theater Audio Systems Market Report

    Home Theater Audio Systems Market Report
    Report code - SR1508 Delivery - 2 Weeks
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    Home Theater Audio Systems Market Trends, Dynamics & Market Insights
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    Impact of COVID-19 on Home Theater Audio Systems Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Home Theater Audio Systems Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Home Theater Audio Systems Market is estimated to grow from USD xx billion in 2020 to USD xx billion by 2026 at a healthy CAGR of 5.2% during the forecast period.

    Figure: Home Theater Audio Systems Market Size, 2020-2026 (USD Billion)

    Home-Theater-Audio-System-Market-Forecast

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    What is home theater audio system?

    Home theater is a combination of electronic components which is designed to recreate the experience of watching a movie in a theater. It consists of audio systems that are produced to give the same effect as we get in a cinema hall. Most audio systems are equipped with connectivity features such as Wi-Fi and Bluetooth.

    Key Players

    Key players operating in the home theater audio systems market are-

    • Bose Corporation (US)
    • Harman International Industries (US)
    • Yamaha Corporation (Japan)
    • Sony Corporation (Japan)
    • Intex Technologies (India) Ltd (India)
    • LG Electronics Inc. (South Korea)
    • Samsung Electronics (South Korea)
    • Pioneer Corporation (Japan)
    • VOXX International Corp (US)
    • Sound United LLC (US).

    Market Dynamics

    A growing number of smart homes which are equipped with connected communication devices is a key factor driving the product demand. The ability to stream audio content wirelessly has been augmenting the industry growth around the world as consumers have been adopting entertainment devices with Bluetooth and Wi-Fi connectivity. Moreover, these audio systems can be connected with portable devices such as laptops, smartphones, and tablets, which offers lucrative growth opportunities to the industry players.

    Segments' Analysis

    Distribution Channel Trends

    Based on the distribution channel, the home theater audio systems market is classified offline and online. The offline segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. The brick and mortar retailers offer installation and after-sale services by the experts. Moreover, the availability of compatible products for audio equipment works as an advantage of these stores, which further bolsters the segment growth. 

    Regional Trends

    By region, the Asia Pacific market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly attributed to rapid technological advancements, well-established consumer electronics in the region, and the large presence of product manufacturers. Also, the vast availability of resources and cheap labor encourages various multinational companies to set up their manufacturing plants in APAC, which further proliferates regional market growth.

    COVID-19 Impact on Home Theater Audio Systems Market

    The COVID-19 outbreak has moderately affected the home theater audio systems industry. The ongoing COVID-19 pandemic has negatively influenced the housing sector and so the product demand. This is mainly due to soaring coronavirus cases, implementation of stringent lockdown measures, and limited movement of people to curb the spread of the virus. The pandemic has turned the lives of people worldwide, with the number of cases increasing rapidly. The pandemic affected the communication infrastructure and consumer electronic sectors, thus affecting every stakeholder in the supply chain.

    Critical Questions Answered in the Report

    • What are the key trends in the home theater audio systems market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on home theater audio systems?
    • What are the key strategies adopted by the major vendors to lead in the home theater audio systems market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the home theater audio systems market hopes to have the greatest opportunity to convert-

    • Home theater audio systems vendors
    • Home theater audio systems retailers
    • Consumer electronic companies
    • Audio devices companies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The home theater audio systems market is expected to witness an impressive growth of 5.2% CAGR in the coming years.

    Bose Corporation (US), Harman International Industries (US), Yamaha Corporation (Japan), Sony Corporation (Japan), Intex Technologies (India) Ltd (India), LG Electronics Inc. (South Korea), Samsung Electronics (South Korea), Pioneer Corporation (Japan), VOXX International Corp (US), and Sound United LLC (US) are among the key players in the home theater audio systems market.

    A growing number of smart homes which are equipped with connected communication devices is the key factor driving the growth of home theater audio systems market.

    The offline segment is expected to register a healthy CAGR in the home theater audio systems market in the coming years.

    Asia-pacific accounted for the significant share in the home theater audio systems market in 2020.

    Home theater audio systems vendors, Home theater audio systems retailers, Consumer electronic companies, Audio devices companies are the target audience in the home theater audio systems market.

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