The Evolution of the Consumer Audio Market: Trends and Innovations

Author : Aarti ghodke | Published On : 03 Jul 2024

  

 

Consumer Audio  Market Report Overview

Any electronic device used to transmit, recreate, or capture audio, such as turntables, mixers, MP3 players, radio, mics, and speakers, is referred to as audio and sound equipment. The consumer audio market is part of the consumer electronics sector, although it can also contain other product categories like hi-fi. Hi-fi stands for higher fidelity, a phrase that refers to high-resolution audio and sound systems that try to duplicate the original piece as accurately as possible.

 

 

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Consumer Audio  Market Report Scope and Research Methodology

A major driver of the consumer audio market is the rapid surge in demand for entertainment devices. The need for mobile accessories has expanded significantly as a result of the introduction of portable entertainment devices such as computers, cell phones, and i-pads. For data transmission and music streaming, smartphones employ wireless audio technologies e.g. Bluetooth and Wi-Fi. These wireless technologies allow smartphones to broadcast music to wireless speakers or headphones simply and conveniently. As a result, the growth of the consumer audio market is driven by the rising usage of smartphones.

 

 

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Consumer Audio  Market Regional Insights

Due to rising technical innovation, the existence of some of the largest audio equipment suppliers, e.g. Yamaha Corporation, and fast industrialization, Asia-Pacific is likely to grab a significant portion of the consumer audio market in the forecast period. Furthermore, owing to the area's numerous potential prospects, various global market players are swiftly developing and increasing their market position in the region. This region's market is likewise growing as a result of new technologies. An example of this would be in August 2019, Denon, a Japanese sound brand purchased by Sound United, a corporation with a portfolio of sound brands which include Definitive Technology, Boston Acoustics, etc. launched this intriguing pairing of an amplifier and CD player that provides excellent audio performance at a reasonable rate.

 

 

Consumer Audio  Market Segmentation

By Product, the Microphone segment of the consumer audio market is expected to grow at the fastest CAGR of 10.3% in the forecast period. This can be attributed to increased microphone applications in day-to-day life. Shure released the MV5C Home Office Microphone in October 2020, which is geared for professionals and executives who work from home. In introducing the new mic, the business asserted that it will meet the demands of experts of all sorts in the new era of virtual collaboration with a device that prioritizes the user's voice above the surroundings, resulting in excellent audio quality. The MV5C is a directional mic with Shure's Speech Enhancement Mode, which enhances the user's speech during audio or video chats. It works with Mac and Windows systems with USB-A and USB-C ports.

 

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Consumer Audio  Market Key Players

Panasonic Corporation
JVCKENWOOD Corporation
Trüsound Audio
Skullcandy, Inc
Samsung
Apple Inc
Sennheiser electronic GmbH
Plantronics, Inc
Koninklijke Philips N.V
Onkyo & Pioneer Corporation
Devialet, Jaybird

Key questions answered in the Automotive Relay Market are:

  • What is Consumer Audio ?
  • What are the global trends in the Consumer Audio Market?
  • What are the factors contributing to the final price of Consumer Audio ?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for Consumer Audio Market?
  • How is the intervention from regulatory authority is shaping the Consumer Audio Market?
  • What growth strategies are the players considering to increase their presence in Consumer Audio Market?
  • Who held the largest market share in Consumer Audio Market?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2021)
  • Past Pricing and price curve by region (2018 to 2021)
  • Market Size, Share, Size & Forecast by different segment | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Market Segmentation – A detailed analysis by segment with their sub-segments and Region
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

About Stellar Market Research

Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

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