The global home audio equipment market is anticipated to garner US$ 90 Billion while expanding at a CAGR of 12% during the forecast period. The market is estimated at US$ 25 Billion in 2021 and US$ 30 Billion in 2022. Rapid urbanization, together with rising consumer disposable income, is one of the primary factors positively affecting the industry. Furthermore, rising flat-panel HD TV sales, a thriving entertainment industry, and the expanding popularity of on-demand content are all contributing to the market's upbeat outlook.

Aside from that, the growing popularity of OTT services is increasing demand for high-performance home audio equipment for a more immersive watching experience. A growing number of consumers are signing up for streaming services, which is fueling industry development. Furthermore, the development of showrooms and the e-commerce business is resulting in the simple availability of items accompanied by added conveniences such as free doorstep delivery, interesting deals, and safe payment options. This contributes to the market's growth. Leading manufacturers are also engaging in competitive marketing strategies and promotional activities in order to reach a larger customer base and enhance product sales.

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Additionally, technical breakthroughs such as the creation of architecturally appropriate Dolby Atmos systems, short-throw projectors, ambient light rejecting screens, motorized window coverings, and huge LED panels are fueling market expansion. Furthermore, significant expenditures in research and development (R&D) activities are projected to fuel the market.

“During the projection period, market expansion will be driven by rising demand for smart technologies such as multi-room solutions and ongoing advancement in in-house entertainment systems.”

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