APAC Home Audio Equipment Market size is poised to reach USD 15 billion by 2027, according to a latest forecast report by Graphical Research.
The increasing adoption of e-commerce platforms will support the market growth in Asia Pacific. With an increasing number of e-commerce platforms, several customers prefer online shopping of electronic products as multiple options are provided on a single portal. To facilitate sales, e-commerce brands are introducing marketing strategies that offer high discounts to attract more customers. Furthermore, government schemes in different countries to promote e-commerce platforms will propel the home audio equipment market. In India, the government plans to support e-commerce businesses through programs such as the Digital India Campaign. Through these programs, regulatory bodies aim to achieve a trillion-dollar online economy by 2025.
In Asia Pacific, the COVID-19 pandemic positively supported the home audio equipment industry growth. Government-imposed lockdown measures resulted in the closure of schools and offices, supporting the adoption of e-learning platforms and virtual meeting applications for several purposes. In 2020, the utilization of these services fast-tracked, generating a demand for complementary devices such as speakers to improve the audio-visual experience. This factor fueled the demand for home audio equipment. The rising usage of IoT and voice assistant technology-based product ranges during the pandemic time frame will further improve the market conditions for home audio equipment.
Browse detailed statistical insights from the report, “Asia Pacific Home Audio Equipment Market Forecast 2027 By Distribution Channel (Online, Offline), By Technology (Wired [Speaker, Receiver, Soundbar, Home Theater In a Box (HTIB)], Wireless [Speaker, Receiver, Soundbar, Home Radio, Home Theater In a Box (HTIB)]), Research Report, Country Outlook (China, India, Japan, South Korea, Singapore, Australia & New Zealand), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The increasing demand for wireless audio receivers will fuel the home audio equipment market in Asia Pacific. An audio receiver connects a non-Bluetooth device to a Bluetooth-enabled device such as a laptop, smartphone & tablet to transfer sound. The device allows amplification and improvement of sound effects without the need of purchasing a new speaker. The product offers wireless connectivity to multiple devices to broadcast sound and create a surround sound experience. The compact size and robust functionality of the product will create new opportunities for the market.
Advancements in offline retail stores will accelerate the market demand. In this region, several offline stores are located in malls, allowing customers to purchase different products from a single location. Through retail stores, consumers can experience multiple products & brands and compare their performance & pricing at the same time. In addition, with improvements in technology, stores provide digital payment options to their customer, followed by exclusive discount & cashback offers, depending upon the mode of payment.
The APAC home audio equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2017 to 2027 for the following segments:
Asia Pacific Market, By Technology
- Home Theater in a Box (HTIB)
- Home Radio
- Home Theater in a Box (HTIB)
Asia Pacific Market, By Distribution Channel
The above information has been provided for the following countries:
- Asia Pacific
- South Korea
- Australia & New Zealand (ANZ)