Portable Bluetooth Speakers Market Value to Reach US$ 8,530 Mn by 2025 end
Posted: Dec 14, 2017
Multi-room audio systems, which enable to play songs through mobile application, are expected to pave huge opportunities for home theatre audio systems manufacturers. Integration of home audio systems with wearable devices have compelled manufacturers in developing smart and networked speakers. Global sales of home theatre audio systems will account for revenues worth US$ 9,954 Mn in 2017, according to a report by Persistence Market Research (PMR). PMR’s report projects the global home theatre audio systems market to register 5% CAGR through 2025. Global sales of home theatre audio systems are estimated to reach nearly US$ 15,000 Mn in revenues by 2025-end.
Increasing adoption of wireless home theatre audio systems equipped with features such as Wi-Fi and Bluetooth is expected to drive growth of the market in North America. Audio industry in the region has been witnessing a rise in technological advancements, transforming the fashion in which music is played and appreciated. This is further expected to fuel demand for home theatre audio systems in North America. However, increasing risk of subsequent hearing loss, resulting from prolonged exposure to music with noise levels over 85 decibels, is likely to inhibit growth of the market in this region.
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Governments in Asia Pacific countries are providing necessary support for in-house manufacturing through various schemes, for example – "Make in India" scheme by the Indian government. This has further led towards reduction in manufacturing costs, thereby prices of products. The home theatre audio systems market in APAC is expected to be highly influenced by such initiatives of governments. In addition, increasing population, especially in India and China, is further expected to impact adoption of home theatre audio systems in these regions.
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However, confined living spaces in APAC countries, owing to ever-growing population, has resulted into disturbance to neighbors caused by high frequency of home theatre audio systems, particularly in urban areas. This has led people living in urban areas to adopt personal hearing devices such as earphones, or, Bluetooth speakers. These factors are expected to restrain growth of the home theatre audio systems market in APAC.
Key market players identified in PMR’s report include Bose Corporation, Harman International Industries, Yamaha Corporation, Sony Corporation, Intex Technologies (India) Ltd, LG Electronics Inc., Samsung Electronics, Pioneer Corporation, VOXX International Corp, Sound United LLC, Koninklijke Philips N.V., Bowers & Wilkins, Pioneer Corporation, Bang & Olufsen, Braven LC, Sonos.
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