Listen up: Rising disposable income and e-commerce will boost audio equipment sales

Driven by growth in disposable income and housing, the Retail Market for Audio Equipment industry revenue increased over the five years to 2018. During the five-year period, the number of households increased in line with disposable income, representing a consumer base ripe for new audio equipment such as surround-sound systems or soundbars for their new homes. Additionally, audio equipment quality has improved, and such equipment is increasingly compatible with other electronics, benefiting industry operators. Moving forward, consumers are expected to further loosen their purse strings as a result of higher disposable income, especially as online vendors make buying audio equipment increasingly convenient and affordable...purchase to read more.

Industry Statistics & Market Size
Revenue
$21bn
Annual Growth 13-18
3.5%
Forecast Growth 18-23
Profit
Employment
624,687
Businesses
142,367

Industry Threats & Opportunities

  • New technologies have simultaneously provided opportunities and challenges for audio equipment retailers
  • Both online and brick and mortar companies are hiring more employees
  • Consumers will be looking to furnish new homes with newer, more technologically advanced home audio equipment
  • Industry Report - Industry SWOT Analysis Chapter

    The retail market for audio equipment's contribution to the economy, measured as industry value added (IVA), is anticipated to rise 4.0% per year on average over the 10 years to 2023. Comparatively, GDP is projected to rise an annualized 2.1% during the 10-year period. IVA growth roughly in line with the economy as a whole is highly indicative that this market is in the mature stage of its life cycle. While this industry is expected to grow faster than GDP as a whole, IVA growth is expected to slow over the next five years to a rate more in line with the overall economy. Employment and disposable income growth in the next five years are projected to boost consumer demand for audio equipment. Dis...purchase to read more.

    Additional Insights for the The Retail Market for Audio Equipment Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the The Retail Market for Audio Equipment Industry are

  • Having a clear market position
  • Ability to control stock on hand
  • Having links with suppliers
  • IBISWorld analysts also discuss how external factors such as Number of households and commerce sales in the The Retail Market for Audio Equipment industry impact industry performance..

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    What's in this report

    What is the The Retail Market for Audio Equipment Industry?

    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.

    Industry Products
  • Components
  • Bluetooth speakers, radios and other
  • Multichannel audio equipment
  • Industry Activities
  • Retailing wireless and media streaming systems
  • Retailing MP3 player speaker systems
  • Retailing HTiB Systems
  • Retailing home and clock radios
  • Retailing other consumer audio equipment products
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of households
  • commerce sales
  • Per capita disposable income
  • Trade-weighted index
  • External competition

  • Current Performance
  • Rising import penetration
  • Retailers and wages
  • Shifting technologies
  • Chart: Revenue Growth

  • Industry Outlook
  • Technology boosts profitability
  • More retailers
  • Table: The Retail Market for Audio Equipment Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - The Retail Market for Audio Equipment Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Electronic Part & Equipment Wholesaling

  • Products & Services
  • Multichannel audio equipment
  • Components
  • Bluetooth speakers, radios and other
  • Chart: The Retail Market for Audio Equipment Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Consumers aged 35 to 54
  • Consumers aged 55 and older
  • Consumers aged less than 34
  • Chart: Major Market Segmentation for the The Retail Market for Audio Equipment Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs The Retail Market for Audio Equipment

  • Basis of Competition
  • Internal
  • External

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the The Retail Market for Audio Equipment Industry

  • Industry Globalization
    Amazon.com Inc., Best Buy Co. Inc.,
  • Table: Amazon.com Inc. - financial performance
  • Table: Best Buy Co. Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the The Retail Market for Audio Equipment Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the The Retail Market for Audio Equipment Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • E-commerce sales (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Brick And Mortar
  • A store that has a physical presence and location, as opposed to an online retailer.
  • E-Commerce
  • The buying and selling of products or services over electronic systems, such as the internet and other computer networks. Businesses engaged in e-commerce are often called e-tailers.
  • Htib
  • A packaged audio system used in conjunction with home theater systems.
  • Mp3
  • Audio compression technology used to store and play digital music.
  • Soundbar
  • A home theater speaker system that simulates surround sound.
  • What Our Customers Say

    Why buy this report?

    The The Retail Market for Audio Equipment Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on The Retail Market for Audio Equipment:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The The Retail Market for Audio Equipment market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on The Retail Market for Audio Equipment, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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