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European Home Audio Equipment Market size to hit $10 Bn by 2027
Published Date: 2021-11-24
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European Home Audio Equipment Market size is projected to surpass USD 10 billion by 2027, according to a latest forecast report by Graphical Research.
The evolution of IoT technology will propel the Europe market. The increasing utilization of consumer based IoT equipment with connected video & audio devices is gaining popularity. For instance, according to the Eurostat 2020 report, around 51% of the individuals in the region have an internet connected with smart speakers, home audio systems, game consoles, or smart TVs. The user can access IoT services through a voice assistant, smart device, or other methods to create a seamless user experience. The voice assistant feature integrated with home audio equipment allows users to stop/play/change movies or songs without any physical interference. The robust functionality of IoT will support the market demand.
The coronavirus pandemic outbreak supported the Europe home audio equipment industry growth in the second half of 2020. With travel restrictions implemented by various European governments for safety purposes, consumers preferred to stay indoors and adopt technologies such as e-learning, OTT & online fitness classes. The pandemic supported the upgrade of consumer shopping habits, in terms of smart devices and home automation, boosting the rise of audio devices, such as wire or wireless audio equipment, for different applications, especially in 2020, during the lockdown period.
Browse detailed statistical insights from the report, “Europe Home Audio Equipment Market Forecast 2027 By Technology (Wired [Speaker, Receiver, Soundbar, Home Theater In a Box (HTIB)], Wireless [Speaker, Receiver, Soundbar, Home Radio, Home Theater In a Box (HTIB)]), By Distribution Channel (Online, Offline), Research Report, Country Outlook (UK, Germany, France, Italy, Spain, Russia), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The increasing adoption of wired Home Theater In A Box (HTIB) solutions will fuel the market growth. HTIBs can seamlessly integrate with TVs to offer surround sound effects, thus enhancing the consumer experience. The product is compact-sized and includes a sound receiver, speakers & CD player, allowing easy mounting options. With improved technology, HBIT is featured with an internet connectivity option to support online streaming platforms such as Disney+, Netflix, etc. In addition, pre-installed options and customization allow consumers to alter technical parameters as per their requirements such as sound.
The rising demand for online shopping will propel the market revenue. In 2020, restrictions due to the pandemic shifted consumer shopping habits owing to the closure of in-store retail outlets. Online platforms offer multiple options to customers with in-detail specifications, such as dimension, weight, and other technical features, which allow customers to make an informed decision. In addition, online shopping mediums offer strong discounts to attract more consumers.
The home audio equipment in European 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:
Europe Market, By Technology
- Home Theater in a Box (HTIB)
- Home Radio
- Home Theater in a Box (HTIB)
Europe Market, By Distribution Channel
The above information has been provided for the following countries: