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Home audio equipment market benefiting from music applications such as Google Music, Spotify and iCloud

Home audio equipment market benefiting from music applications such as Google Music, Spotify and iCloud

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2012-12-12 18:20:15 - Home audio equipment market benefiting from music applications such as Google Music, Spotify and iCloud

The home audio equipment market has been forecast to hit a value of US$20 billion by 2018, buoyed by recuperating income levels post recession, and the growing number of technological developments in terms of Bluetooth and Internet compatible streaming and networking devices, and the growing popularity of music applications such as Google Music, Spotify, iCloud, Pandora and Deezer.Home audio, essentially, refers to any audio electronics intended for home use, such as shelf stereos and surround sound receivers, which are becoming the most popular piece of home audio equipment.Home audio generally does not include such standard equipment as built-in television speakers, but rather accessory equipment, which may be intended to enhance or replace standard equipment.The home audio equipment market continued to



rake in growth in terms of both volume and value sales amid the economic meltdown, driven by rocketing sales of new technologies such as Blu-ray and a resurge in the Home-Theatre-in-a-Box (HTiB) market.Consumer electronics such as mp3 players, computers, Blu-ray players and video games provided economic sources of entertainment for families stressed by uncertainties with job and career during the economic meltdown.The United States is anticipated to register the fastest growth in the home audio equipment market, in value terms, reflecting a compound annual growth rate of over 3.1% through to 2018, while Asia-Pacific spearheads global growth in volume terms.The home audio equipment market remains highly competitive and products with aesthetic design, better visual appeal, and innovative features are leading the way in this competition.For more information on the home audio equipment market, see the latest research: Home Audio Equipment MarketFollow us on Twitter @CandMResearch

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