PROSPECTS AND OPPORTUNITIES
AI and voice assistant integration can reduce value decline
Home audio and cinema is predicted to record further retail volume and value declines over the forecast period, although home cinema and speaker systems will remain one of the stronger performers. New lines of soundbars are emerging with integrated AI features.
Increasing demand for better sound quality
Australians are becoming increasingly aware of the audio quality experience, with some preferring to have external sound systems that complement the visual experience when watching television. They are also attracted to having a soundbar system within their homes.
Niche status for many products due to increasing competition from portable players
Many products in home audio and cinema are set to enter a niche phase where they only appeal to a small committed group of audiophiles over the forecast period. While vinyl players and soundbars offer some reason for hope, overall retail volume sales of home audio and cinema are predicted to further decline over the forecast period.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Audio and Cinema industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Audio and Cinema industry in Australia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Home Audio and Cinema in Australia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Home Audio and Cinema in Australia?
- Which are the leading brands in Australia?
- How are products distributed in Australia?
- How is the rise of e-commerce changing the retail landscape?
- How has COVID-19 and accordant macroeconomic and retail disruption impacted consumer demand?
- How are considerations such as urban development and the rise in single-person households driving sales growth?
- Where is technology taking the market? Which products are pioneering growth? Which face obsolescence?
- Where is future growth expected to be most dynamic?
Home Audio and Cinema in Australia - Category analysis
KEY DATA FINDINGS
Home audio and cinema continues to lose ground, but still attracts niche audience
Soundbars is outstanding performer in declining category
Wireless technology is significant influence behind decline
AI and voice assistant integration can reduce value decline
Increasing demand for better sound quality
Niche status for many products due to increasing competition from portable players
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Consumer electronics in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer electronics?
DISCLAIMER
The following categories and subcategories are included:
Home Audio and Cinema
- Audio Separates
- Digital Media Player Docks
- Hi-Fi Systems
- Home Cinema and Speaker Systems
- Speakers
- Other Home Audio and Cinema
Home Audio and Cinema
Home audio and cinema consist of Audio Separates, Home Cinema & Speaker Systems, Hi-Fi Systems and Other Home Audio & Cinema.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Home Audio and Cinema research and analysis database.
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