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Audio Systems Market Share

Report ID: GMI12033
Published Date: Oct 2024
Report Format: PDF

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Audio Systems Market Share

Audio systems industry seems to be consolidated in nature due to presence of local and global players across the globe. In 2023, the market players such Bose, JBL, Klipsch, LG Electronics, Marshall, Samsung, Sennheiser and Sonos collectively held around 10%-20% market share. These prominent players are proactively involved in strategic endeavors, such as mergers & acquisitions, facility expansions & collaborations, to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position.

Audio Systems Market Companies

Major players operating in the Audio Systems industry are:

Amazon
Anker
Apple
Bang & Olufsen
Beats by Dre
Bose
JBL
Klipsch
LG Electronics
Marshall
Samsung
Sennheiser
Sonos
Sony
Ultimate Ears

Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The global market size for audio systems was valued at USD 33.4 billion in 2023 and is expected to reach USD 53.8 billion by 2032, driven by a CAGR of 5.5% from 2024 to 2032.

Personal audio held a market size of USD 18.6 billion in 2023 and is projected to grow to USD 30.7 billion by 2032, due to the proliferation of smartphones and portable media players.

North America market generated USD 8.8 billion in 2023 and is expected to reach USD 14.4 billion by 2032, driven by the growing adoption of smart home devices and increased disposable incomes.

Major players in the industry include Amazon, Anker, Apple, Bang & Olufsen, Beats by Dre, Bose, JBL, Klipsch, LG Electronics, and Marshall.