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Consumers' Desire for 'Smart' Audio Systems Speaks Volumes
Home Audio Market Analysis and Commentary
20 Sep 2017 - Voice enabled 'smart' speakers are driving global home audio sales upwards, despite a softening in demand for non-smart speakers and soundbars and a decline in sales of hi-fi systems, per Futuresource Consulting's latest Home Audio Quarterly Tracker.
Total home audio shipments grew 32% between Q2 2016 and Q2 2017 to reach $3.7 billion in revenues, with the fastest moving category of smart speakers delivering an extraordinary year-on-year growth of 843%.
Smart speaker shipments reached 4.2 million units in the quarter, with Amazon alone accounting for 82% of overall sales. Google is anticipated to grow rapidly with its smart speaker products, as it gears up to enter more markets from Q3 onwards.
The overall average prices declined 2% for total home audio, although soundbar prices grew in Q2, driven by demand for premium products. Despite the decline in the soundbase segment, Sonos' Playbase priced at $699 was popular in many markets.
Harman/JBL emerged as the top audio brand in the second quarter of this year, taking a 17%-unit share. In revenues, Bose was the top brand, followed by Harman/JBL and then Amazon.
This is just a snapshot of key trends and statistics recorded in the Home Audio Quarterly Tracker, authored by Senior Market Analyst Rasika D'Souza. The tracker analyses trends, brands, segments, sales and pricing of home audio products in key markets including North America, Latin America, China, The Netherlands, France and the UK.
Futuresource's worldwide audio report is now available on the Futuresource report portal, please contact firstname.lastname@example.org for more information.
Futuresource Consulting is a specialist research and knowledge-based consulting company, providing organisations with insight into consumer electronics, digital imaging, entertainment media, broadcast, storage media, education technology and IT. With a heritage stretching back to the 1980s, the company delivers in-depth analysis and forecasts on a global scale, advising on strategic positioning, market trends, competitive forces and technological developments. www.futuresource-consulting.com
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