Home Audio Market Booming, Forecast to Triple in Size by 2032 Driven by Speakers Segment and Online Sales
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Home audio components market size was $22.5 billion in 2022 and is forecast to reach $64.4 billion by 2032, growing at a CAGR of 11.1%.
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Speakers segment accounted for the largest market share in 2022 with more than one third of the global market revenue.
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Online distribution channel dominated with more than half of the global market revenue in 2022.
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Asia-Pacific is expected to witness the highest CAGR during the forecast period due to rising disposable incomes and adoption of advanced technologies.
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Key players are focusing on enhancing their product portfolios, with companies like Bose and Sonos launching upgraded versions of their popular wireless headphones and earbuds.