According to the report titled ‘North America Home Audio Equipment Market Forecast 2027 By Distribution Channel, By Technology, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America home audio equipment market is estimated to reach a valuation of USD 15 billion by 2027.

The rising deployment of smart home gadgets in various houses, increasing demand for smart speakers, TVs & plugins, and evolving consumer purchasing patterns are the key factors driving the growth of the North America home audio equipment market.

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With the COVID-19 outbreak, more consumers have now shifted toward online purchasing as well as retailers supported online buying and adopted advancing technology which helped them to engage with their audience and improve customer experience. Thus, the digital economy witnessed a remarkable surge, further adding traction to home equipment market size in North America.

Moreover, movies and music acted as a major part of consumer’s life during COVID lockdown resulting in mounting interest in home audio equipment products to keep themselves entertained with better sound quality. Additional factors that are fueling the overall market size are rising penetration of voice-assistant-based solutions such as Amazon Alexa, Google Home, and others for doing tasks such as adjusting the volume/tunes.

Based on distribution channels, the market is fragmented in terms of online and offline segments. Out of these, the online segment is estimated to expand substantially through 2027, owing to online platforms providing services such as product suggestions, model comparison, discounts & rewards on various products. These online distribution channels are also offering next day/same-day delivery, and allowing consumers to explore from online partner shops, thereby fueling the segmental share.

Moving on to technology scope, the market is divided into wired and wireless segments. Among these, North America home audio equipment industry share from the wireless Home-Theatre-In-A-Box (HTIB) segment is expected to grow exponentially over the forecast duration, primarily attributed to the ability to combine with TVs to enhance the audio experience, reduces the need for extensive wires flowing throughout the home, easy integration with sub-woofers.

Amazon.com Inc., Bose Corporation, JVCKenwood Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., Vizio Inc., Apple Inc., Alphabet Inc., LG Electronics Inc., Polk Audio, Sony Corporation, and Voxx International Corporation are the leading players in the North America home audio equipment market.