A market research company has reported home audio figures are set to soar due to rising consumer demand for immersive systems.
S&S Insider forecasts the market’s value will reach USD 2.35 billion by 2032, up from USD 1.50 billion in 2023.
The report indicates streaming platforms like Spotify, Apple Music and Netflix have fuelled the demand for superior audio devices – encompassing soundbars, wireless speakers and home theatre systems.
Another contributing factor, according to the report, is smart home technology boosting demand for voice-controlled audio systems integrated with Bluetooth and Wi-Fi.
Alongside growth within the wireless and speaker segments in 2023, Home Theatre in-a-Box emerges as the fastest-growing segment from 2024 to 2032.
The findings suggest this acceleration is a result of wireless connectivity and advanced surround sound features offered by companies like Sony and Samsung.
Key market players in the report include Sonos, Bose, JBL, Marantz and Monitor Audio.
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