North American Home Audio Equipment Market size is predicted to cross USD 15 billion by 2027, according to a latest forecast report by Graphical Research.
Rising disposable incomes, which are attributed to improving economic conditions will propel the market growth. According to the U.S. Bureau of Economic Analysis (BEA)report, personal consumption expenditure amounted to USD 42.2 billion, a growth of 0.3%, and disposable personal income increased by 1.1% (USD 198.0 billion) in July 2021. High disposable incomes encourage consumers to spend on home audio equipment to improve personal lifestyle and comfort. These changes and developments in consumer spending habits will accelerate the market demand.
In North America, the coronavirus pandemic outbreak fast-tracked the home audio equipment industry growth in the second half of 2020. The pandemic increased consumer dependency on online shopping platforms due to strict lockdown regulations imposed by the governments. This factor encouraged the usage of smart home devices across several households, enabling automation across the household. The popularity of these devices in this category, such as smart speakers, TVs, and plug-ins, was boosted during the coronavirus outbreak. In 2020, with changes in consumer buying habits and market trends, the demand for smart devices is expected to grow in the coming years.
Browse detailed statistical insights from the report, “North America 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 (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The increasing adoption of wireless Home-Theater-In-A-Box (HTIB) solutions will propel the market in North America. Wireless HTIBs can be integrated with TVs to offer an enhanced audio effect. With technological improvements in Hi-res Audio, audio clarity & surround sound format, several manufacturers are now offering audio systems at affordable rates. The device eliminates the need for long wires running across the house and connects sub-woofers & secondary speakers seamlessly. The HBIT receiver sends a low-frequency signal to the subwoofer and its in-built amplifier generates the required power to produce an audible sound. The wireless technology also allows consumers to easily change the location of the speakers.
Technological improvements in offline stores will boost the home audio equipment market outlook in North America. Multi-brand retailers and company-specific stores hire educated staff with the necessary knowledge about the different sets of available products to guide consumers. Retail stores also offer same-day or next-day delivery options to customers in case of product unavailability. In addition, these stores create an exclusive user experience to provide an in-hand understanding of different products.
The North American 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 2016 to 2027 for the following segments:
North America Market, By Technology
- Home Theater in a Box (HTIB)
- Home Radio
- Home Theater in a Box (HTIB)
North America Market, By Distribution Channel
The above information has been provided for the following countries: