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Audio Systems Market Trends

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

Audio Systems Market Trends

Wireless audio systems, including Bluetooth speakers and soundbars, are becoming increasingly popular. Consumers appreciate the convenience and flexibility of wireless setups, leading to a decline in wired systems. The proliferation of smart speakers, such as Amazon Echo and Google Nest, has driven demand for audio systems that integrate seamlessly with smart home ecosystems. Voice control and interconnectivity are highly sought after features.
 

As audiophiles seek higher fidelity, there is a growing trend toward high-resolution audio formats. This has led manufacturers to create systems that support formats like FLAC and DSD, catering to discerning listeners. Consumers increasingly want the ability to play music throughout their homes. Multi-room audio systems that allow synchronized playback in different areas are gaining traction, driven by the popularity of streaming services.

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.

Audio Systems Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 428
  • Countries covered: 21
  • Pages: 487
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