Canada High-End Audiophile Speakers and Custom Installed Home Theaters Market Share, Size, Revenue & Forecast To 2028

Research Nester has released a report titled Canada High-End Audiophile Speakers and Custom Installed Home Theaters Market – Demand Analysis & Opportunity Outlook 2028″ which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

The growth of internet and the built-in human-machine interfaces in modern high-end audiophile speakers and custom installed home theaters is creating opportunities for companies to penetrate the market. This is owing to the fact that a large number of people today prefer smart devices. With the ever-increasing amount of audio and video content available, people are preferring customized entertainment solutions.

Nowadays there is a growing trend of using high-end audiophile speakers in live events and concerts. Largely, plastic horn and woofer speakers are found in bars, hotels, meeting facilities, convention halls, some churches and local outdoors concerts. There is also a shift of customers from analog to digital medium for gaining better sound quality. Moreover, the implementation of sound reinforcement equipment and video conferencing systems in the corporate sector has become a necessity. Therefore, companies are introducing a new range of products, which are in-line with the current requirements.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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The high-end audiophile speakers and home theatre systems market is expected to grow by a CAGR of 3.68% during the forecast period of 2020-2028. The rising spending power of end-users, the growing urbanization rate, and high attendance of people at music festivals is expected to drive the demand for high-end audiophile speaker and custom installed home theaters market across Canada. In the year 2020, the market also recorded a value of USD 116.36 million.

On the basis of product type, the Canada high-end audiophile speakers & custom installed home theater market can be segmented into custom installed home theater and high-end audiophile speakers. Among these segments, the market for high-end audiophile speakers held a market value of USD 26.21 million in 2019. This growth in the segment can be attributed to the rising demand for infotainment systems along with the growing innovations in wireless audio technology. On the heels of transition from wired to wireless technology, demand for better sound quality continues to be one of the primary parameters for audio consumers across Canada. Furthermore, the growth of music production & recording industry is supporting the high-end speaker segment of the high-end audiophile speakers’ market.

Increase in Family Net Worth Along with Changing Customer Preferences Towards Advanced Music Systems to Boost the Market

There has been a rise in the number of millionaires and billionaires in Canada. Furthermore, there has also been an improvement in living standards of the people. This is a key factor for the growth of the high-end audiophile speakers & custom installed home theater market mainly owing to the growing requirement for personalized entertainment solutions by the people. Rising in-home entertainment, increasing sound quality of the products owing to reduction in size, and growing audiophiles across the world is anticipated to boost industry over the forecast period.

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However, the availability of products that are cheaper and similar to the high-end versions is expected to act as a major restraint in the growth of the Canada high-end audiophile speakers & custom installed home theater market.

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