Consumer Audio Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Consumer audio are the output devices used by individuals globally. Rising demand for speakers in home theater system, soundbars, and output devices are contributing towards the demand for the growth. HARMAN; Sony; Sennheiser are few prominent companies offering range of consumer audio.

MARKET DYNAMICS

The factors attributing toward the growth of the market includes growing demand for infotainment devices and wireless audio devices the users. Adoption of mentioned devices are positively impacting the production of consumer audio and thereby influencing the market growth. In addition to this, with evolving sound quality, advanced technology for consumer audio devices, the scope of the market is projected to provide ample of growth opportunities to the players operating in the consumer audio market.

MARKET SCOPE

The "Global Consumer Audio Market Analysis to 2031" is a specialized and in-depth study of the electronics & semiconductor industry with a special focus on the global market trend analysis. The report aims to provide an overview of the consumer audio market with detailed market segmentation

 product, connectivity, and geography. The global consumer audio market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading consumer audio market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

  Based on product, the consumer audio market is segmented into headphones, speaker systems, soundbars, others.

  On the basis of connectivity, the consumer audio market is segmented into wired, wireless.
IMPACT OF COVID-19 ON CONSUMER AUDIO MARKET
The outbreak of the COVID-19 has negatively impacted the growth of consumer audio market. The pandemic has caused huge impact on consumer audio, due to closure of manufacturing plants and halt in manufacturing activities in different corners of the world. With closure of manufacturing plants, the supply of raw materials & components used in the consumer audio got disturbed.
On the contrary, with manufacturing units has started once again, manfacturing of consumer auido devices is picking up its pace by following COVID-19 measures which is anticipated to boost the growth of demand & sales of consumer audio in the market.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global consumer audio market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America (SAM). The consumer audio market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the consumer audio market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the consumer audio in these regions.

MARKET PLAYERS

The reports cover key developments in the consumer audio market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from consumer audio market are anticipated to lucrative growth opportunities in the future with the rising demand for consumer audio in the global market. Below mentioned is the list of few companies engaged in the consumer audio market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the consumer audio market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Apple Inc.
  
•   Bose Corporation
  
•   Earin
  
•   Harman International Industries, Incorporated
  
•   Plantronics, Inc.
  
•   Sony Corporation
  
•   Sonos
  
•   Sennheiser
  
•   VIZIO
  
•   VOXX International
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Consumer Audio Report Scope

Report Attribute	Details
Market size in 2023	US$ XX Million
Market Size by 2031	US$ XX Million
Global CAGR (2023 - 2031)	XX%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Product Headphones Speaker Systems Soundbars By Connectivity Wired Wireless
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Apple Inc. Bose Corporation Earin Harman International Industries, Incorporated Plantronics, Inc. Sony Corporation Sonos Sennheiser VIZIO