GVR Report cover Home Audio Equipment Market Size, Share, & Trends Report

Home Audio Equipment Market Size, Share, & Trends Analysis Report By Technology (Wired, Wireless), By Distribution Channel (Online, Offline), By Type, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-325-6
  • Number of Pages: 120
  • Format: Electronic (PDF)

Report Overview

The global home audio equipment market size was estimated at USD 29.56 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 11.3% from 2023 to 2030. Realistic home audio equipment is anticipated to be a major growth driver. Consumer demand for high-performance home theater experiences is likely to drive the demand for home audio equipment over the coming years owing to the increase in disposable incomes. Furthermore, reduced manufacturer emphasis on built-in audio quality in televisions is predicted to increase the demand for external audio solutions, boosting the market growth. Moreover, companies in the consumer electronics market have been introducing AI-integrated devices, thereby driving market growth. For instance, in April 2023, Sensory announced the integration of ChatGPT and other Artificial Intelligence (AI) into its consumer devices to drive conversational voice responses. These factors would further supplement the growth of the market during the forecast period.

U.S. Home Audio Equipment Market size and growth rate, 2023 - 2030

The market growth can be attributed to the implementation of various digital technologies in consumer electronic devices and substantial investments from manufacturers who emphasize offering high-quality experiences to customers. Globally, the downsizing of electronic items is rapidly gaining popularity. Electronic products that are portable and lightweight are becoming more popular among consumers. The adoption of small electric types is leading to the expansion of the global home audio equipment electronics market.

New products with improved features are being introduced due to the increasing investments in Research & Development (R&D) and innovation by leading market companies. For instance, Samsung Electric announced an investment of USD 15 billion by 2028 for its new research and development facility. The rising consumer awareness regarding power usage and its impacts on the environment is also leading to the development of energy-efficient consumer electronic products. These factors would further supplement the growth of the market during the forecast period.

The emergence of hi-fi wireless sound bar with ambisound technology has gained prominence as it is less expensive and makes surround sound simpler. Home Theaters in-a-Box with Dolby’s Atmos technology with 7.1 channel surround sound is expected to revolutionize the audio equipment industry. Manufacturers of home entertainment devices are channeling their efforts to offer connected home entertainment products via smart technologies such as home assistance and smart speakers to enhance the experience of entertainment. These devices are proven to augment the sound experience of movies and TV shows via voice control automation.

Various governments are focusing on offering funds to manufacture consumer electronics in their countries, which is encouraging manufacturers to invest in their countries. The Indian Government launched the National Electronic Policy 2018, which intended to reach a turnover of USD 400 billion with the help of domestic manufacturing of consumer electronics by 2025. Furthermore, the policy is anticipated to boost the adoption of technologies such as the Internet of Things (IoT), AI, and machine learning. These factors would further supplement the growth of the market during the forecast period.

The market is concentrated in India, China, the U.S., Japan, and South Korea. The Russia-Ukraine war and the COVID-19 pandemic, which induced a semiconductor shortage, hampered the growth of the market. The unavailability of raw materials essential for the functioning of consumer electronic devices negatively impacted production and disrupted the supply chain of audio devices. Therefore, the shipment of devices was also interrupted.

The pandemic and the Russia-Ukraine war further increased inflation levels, affecting consumer spending power. The demand for consumer electronics throughout the pandemic remained high, with OEMs struggling to resolve supply chain issues; however, medium and small-size manufacturers experienced a limited negative impact of supply chain disruption. The supply chain disruption further fueled the market for counterfeit products of low quality, which impacted the home audio market growth negatively.

Premium device manufacturers such as Samsung Electronics and Apple Inc. have a product line of high-end electronic devices, which are expected to experience a rise in demand over the forecast period, especially in developed countries such as Canada, the UK, Germany, and the U.S. However, these models are considered expensive in markets where consumers are price-sensitive and prefer an affordable model with the same features. Therefore, manufacturers must constantly innovate their flagship product line to keep consumers engaged and loyal to the brand.

Moreover, the integration of artificial intelligence, IoT, and ML capabilities in smart home devices is further driving the prices of these devices. For instance, in November 2020, Digital Theater Systems (DTS) Inc., a wholly owned subsidiary of XPERI INC., announced that DTS Sound Unbound, an audio application for accessing premium DTS audio capabilities and features, would be made available with DTS:X Home Theater support on Xbox One, a video gaming console made by Microsoft. The company planned to offer compatibility for Xbox Series X and Xbox Series S as well.

The addition of DTS:X Home Theater compatibility completes the incorporation of DTS with the Microsoft Spatial sound ecosystem, offering dynamic audio experiences across all kinds of entertainment on the Xbox platform. These factors would further supplement the growth of the market during the forecast period.

Type Insights

Based on type, the home audio speakers and systems segment held the largest market share of 34.95% in 2022. Home audio speakers and systems have become advanced substantially over the years. With the introduction of smart devices and voice-controlled assistants such as Google Home and Amazon Echo, audio systems have gained voice control and smart home connectivity. Users can utilize voice commands to control their audio systems, listen to music from streaming sites, and interact with various smart gadgets in their homes. Moreover, high-resolution audio formats, including Free Lossless Audio Codec (FLAC) and Master Quality Authenticated (MQA), have gained popularity as they provide enhanced sound quality than traditional compacted formats. These factors would further supplement the growth of the segment during the forecast period.

The home theater in-a-box segment is anticipated to grow at the fastest CAGR of 12.7% during the forecast period. The growth of this segment can be attributed to the Home Theater in-a-Box (HTiB)’s ease of use. In addition, HTiB’s setup requires only a basic understanding of technology to install and operate. Manufacturers offer detailed guidance and colored interconnections to facilitate easier installation. This simplicity of setup may attract people who are tech-savvy or prefer a plug-and-play system. HTiB serves a diverse group of customers who prefer an organized home theater experience. It offers enhanced functionality and technology, with high-definition audio decoding, wireless connection options, HDMI connectivity, and support for various media formats. These developments have improved the audiovisual experience offered by HTiB, increasing consumer attractiveness.

Technology Insights

Based on technology, the wireless segment held the largest market share of 56.81% in 2022. Wireless audio systems often offer multi-room functionality, permitting users to play synchronized audio in multiple rooms or establish different audio zones. Consumers can stream audio to multiple house sections via wireless speakers linked to a centralized system or networked devices, thereby controlling audio playback from a single gadget or application. Developments in wireless audio technologies have resulted in improved sound quality. Wireless high-quality audio codecs such as audio processing technology (aptX), Lossless Digital Audio Codec (LDAC), and Advanced Audio Coding (AAC) offer enhanced audio performance and lower latency, resulting in a more engaging listening experience. These factors would further supplement the growth of the segment during the forecast period.

The wired segment is anticipated to grow at a CAGR of 10.1% during the forecast period. Wired connections are compatible with a wide variety of audio equipment and types. They are used for connecting audio amplifiers, turntables, Compact Disk (CD) players, or other audio equipment to offer adaptability and flexibility between devices and manufacturers. This adaptability has enabled consumers to create personalized home audio settings based on their preferences and needs. High bandwidth audio files and lossless audio codecs are supported over wired connections, which enables transmission of high-resolution audio recordings such as FLAC and WAV, without degradation. These benefits would further supplement the growth of the segment during the forecast period. Compared to wired audio systems, wireless home audio systems provide flexibility and ease regarding location and setup.

Distribution Channel Insights

In terms of distribution channel, the online segment held the largest market share of 54.17% in 2022. Home audio items are accessible for purchase through online marketplaces and e-commerce sites such as Amazon.com, Inc.; Flipkart.com; eBay Inc., and Best Buy. These online platforms offer comprehensive specifications, customer reviews, and ratings, allowing consumers to investigate and compare numerous audio options. They frequently offer affordable prices and discounts, providing buyers with cost-effective solutions. For instance, specialized online electronics merchants such as Best Buy, Crutchfield New Media, LLC, and B&H Photo & Electronic Corp. are skilled in-home audio equipment. These benefits would further supplement the growth of the segment during the forecast period.

Global Home Audio Equipment Market share and size, 2022

The offline segment is expected to grow at the fastest CAGR of 10.3% during the forecast period. Consumers prefer purchasing in person at brick-and-mortar retail businesses that specialize in electronics, home appliances, or audio equipment. These retail stores typically have sections or departments dedicated to home audio products such as speakers, receivers, headphones, amplifiers, and soundbars. These retail stores provide a wide variety of audio equipment, from entry-level to high-end models, of different brands and prices. Customers can have the advantage of looking at several models, evaluating features, and getting help from sales experts before purchasing. These benefits would further supplement the growth of the segment during the forecast period.

Regional Insights

In terms of region, Asia Pacific held the largest market share of 33.69% in 2022. With the growing demand for wireless speakers, Bluetooth technology has witnessed growth in the regional market as it is compatible with a wide range of mobile devices, including Apple iPhones and Android smartphones. Moreover, the release of Bluetooth 5.0 enabled a new function that allows users to listen to audio on two linked devices at the same time and audio can be played on two separate speakers in two distinct rooms. This is projected to fuel the expansion of the home audio equipment industry in the region over the forecast period.

Home Audio Equipment Market Trends, by Region, 2023 - 2030

North America is anticipated to register the fastest CAGR of 12.8% over the forecast period. Advances in digital audio technology and the changing consumer preferences from conventional audio systems to modern audio systems are expected to drive the growth of the regional market. Furthermore, the growing demand for portable home audio equipment capable of supporting USB drives as well as accessing high-quality audio content from the internet also bodes well for the growth of the market. Manufacturers and suppliers of home audio equipment have been making their systems user-friendly and less visually intrusive as part of the efforts to strengthen their regional market penetration. These benefits would further supplement the growth of the regional market during the forecast period.

Key Companies & Market Share Insights

The key players include Bose Corporation; Sony Corporation; Panasonic Holdings Corporation.; LG Electronics Inc.; and Koninklijke Philips N.V. To broaden their product offering, companies utilize a variety of inorganic growth tactics, such as regular mergers, acquisitions, and partnerships. In March 2023, Cisco Systems, Inc. showcased its latest developments in wireless security solutions and IoT products at Mobile World Congress, in Barcelona, Spain. The company also presented its ongoing projects with its various global partners such as KPN, Telstra, and Telenor to assist enterprises in managing their wireless networks. Some prominent players in the global home audio equipment market include:

  • Akai Electric Company Ltd.

  • Audio Partnership Plc

  • Bose Corporation

  • Dolby Laboratories Inc.

  • XPERI INC. (Digital Theater Systems (DTS) Inc.)

  • Harman International Industries

  • Intex

  • JVC Kenwood Holdings Inc

  • LG Electronics Inc

  • Nakamichi Corporation

  • Nice North America LLC (Niles Audio)

  • Panasonic Holdings Corporation

  • Koninklijke Philips N.V.


  • Vistron (Dong Guan) Audio Equipment Co., Ltd

  • Samsung Electronics Co., Ltd.

Home Audio Equipment Market Report Scope

Report Attribute


Market size value in 2023

USD 32.69 billion

Revenue Forecast in 2030

USD 69.34 billion

Growth rate

CAGR of 11.3% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Report updated

Aug - 2023

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report Coverage

Revenue forecast, company market share, competitive landscape, growth factors, and trends

Segments Covered

Type, technology, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Middle East & Africa; Latin America

Country scope

U.S.; Canada; Germany; UK; France; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Mexico; Argentina; UAE; Saudi Arabia; South Africa

Key companies profiled

Akai Electric Company Ltd.; Audio Partnership Plc; Bose Corporation; Dolby Laboratories Inc.; XPERI INC. (Digital Theater Systems (DTS) Inc.); Harman International Industries; Intex; JVC Kenwood Holdings Inc.; LG Electronics Inc.; Nakamichi Corporation; Nice North America LLC (Niles Audio); Panasonic Holdings Corporation; Koninklijke Philips N.V.; SHARP CORPORATION; Sony Corporation; Vistron (Dong Guan) Audio Equipment Co., Ltd; Samsung Electronics Co., Ltd.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Home Audio Equipment Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global home audio equipment market report based on type, technology, distribution channel, and region:

Global Home Audio Equipment Market Report Segmentation

  • Type Outlook (Revenue, USD Billion, 2018 - 2030)

    • Home Theater in-a-box

    • Home Audio Speakers and Systems

    • Home Radios

    • Others

  • Technology Outlook (Revenue, USD Billion, 2018 - 2030)

    • Wired

    • Wireless

  • Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

    • Online

    • Offline

  • Regional Outlook (Revenue, USD Billion, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Australia

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • UAE

      • Saudi Arabia

      • South Africa

Frequently Asked Questions About This Report

gvr icn


gvr icn

This FREE sample includes data points, ranging from trend analyses to estimates and forecasts. See for yourself.

gvr icn


We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now

Certified Icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.