Smart Speakers Continue to Play a Leading Role in the Home Audio Market

The worldwide home audio hardware market grew 20% last year to reach 154 million units, with a further 19% growth projected in 2019, according to a new market report from Futuresource Consulting. The sector, which includes wireless speakers, soundbars, A/V receivers, Hi-Fi systems and dedicated speaker docks, also witnessed 5% revenue growth last year, with trade values reaching $14.5 billion.

Following a showcase at CES 2019, NXP Semiconductors announced its Immersiv3D audio solution, combining NXP software on its i.MX 8M Mini applications processor with support both Dolby Atmos and DTS:X immersive audio technologies. The i.MX 8M Mini SoC also brings smart capabilities like voice control to a broader range of consumer devices including soundbars, smart speakers, and AV receivers with the option for adding additional speakers to distribute smart voice control and immersive audio throughout the home.

The Consumer Electronics (CE) team at Futuresource Consulting just unveiled some of the main trends included in the company's latest Home Audio Market Report, confirming that the global home audio market already broke the $13 billion barrier in 2017. According to the report, the global home audio market continues to climb, with hardware shipments increasing by 23% in 2017, and new emerging product categories likes wireless speakers and soundbars continuing to propel the business.