The global luxury audio market contracted by 4.7% in 2024, with unit volumes declining to 538,000 and retail value reaching USD 2.8 billion.
- This marks a second consecutive year of decline, as macroeconomic and geopolitical pressures continued to weigh on consumer sentiment and purchasing behaviour. Inflationary headwinds persisted throughout the year, particularly impacting demand for more affordable luxury audio products. Simultaneously, low consumer confidence constrained spending on high-value investments such as home renovations and new-build projects—key drivers for premium stereo and home theatre systems.
- Geopolitical instability, including ongoing conflicts in Ukraine and the Middle East, further exacerbated market uncertainty. Even among affluent consumers, caution prevailed, with many adopting more conservative spending habits in response to perceived economic risks.