The Retail Market for Audio Equipment in the US - Industry Market Research Report

The Retail Market for Audio Equipment in the US - Industry Market Research Report
The Retail Market for Audio Equipment in the US

Driven by overall growth in disposable income and housing, the Retail Market for Audio Equipment is expected to grow at an annualized rate of 0.7% to $21.3 billion over the five years to 2020. During the five-year period, the number of households is estimated to increase an annualized 0.7% to 128.8 million, representing a consumer base ripe for new audio equipment such as surround-sound systems or soundbars for their new homes. However, the outbreak of COVID-19 (coronavirus) and the subsequent economic recession has led to an estimated decline of 4.2% in 2020 alone, although this drop is much more subdued compared to the brick-and-mortar retail sector.

Companies in this industry sell consumer audio equipment and components, parts and accessories for such equipment. This report shows the size of the retail market for this product and includes sales from all major retail channels, including specialty stores, general merchandisers and internet retailers. Sales of commercial or industrial audio equipment are not included in this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.