1. Home Audio Equipment Market Overview

Home audio equipment refers to a variety of sound playback and processing equipment used in the home environment, including traditional active/Passive speakers, power amplifiers,CDmachines, etc., as well as wireless speakers, smart speakers, home theaters, etc. that have emerged in recent years. With the progress of science and technology and the upgrading of consumer demand, the home audio equipment market presents diversified, intelligent and personalized development characteristics.

According to data from the Champ Consulting Group,2022China's wireless speaker market sales in4,87010,000 units, down year-on-year20.7%. Among them, the sales volume of smart speaker market is2,85110,000 units, accounting for nearly 60%, affected by the cyclical development of the market and the narrowing of subsidies, sales decreased by nearly 1/4. Traditional speaker market sales are2,01910,000 units, down year-on-year13.9%Under the diversified development of demand, the traditional speaker market shows strong resilience.

In 2022, the proportion of household speaker sales in the traditional speaker market is about.30%, market share increased year-on-year, driven by growth in home time.2.5%. With the accumulation of audio market brands and rich product layout sales, overseas brands enjoy a competitive advantage in the high-end market. The market demand for portable speakers has been greatly affected by the epidemic,2022Year-on-year decline in market sales16.9%. The market competition is more fragmented, Sony Ericsson relies on price advantages and online channel layout ranked first in market share, technology manufacturers by virtue of brand ecological benefits in the entry-level market to form a certain degree of competition.

Champ Consulting expects,2023China's wireless speaker market sales will decline year-on-year in2%The decline has narrowed significantly from last year, but the consumer environment and the rapid increase in early market penetration have led to some pressure on China's speaker market sales this year. Under the challenge, the orderly recovery of the economy, the recovery of outdoor demand and the optimization of human-computer interaction have also brought opportunities for market development. The market layout during the year should pay attention to the following three growth points:

Grasp the demand for quality upgrades. During the outbreak, home office, learning and entertainment demand to drive the speaker market penetration rate rapidly increased, the entry-level market appeared phase saturation, quality demand still has room for growth.2022Under the overall market sales decline in the year, the traditional speaker market1,000-1,500Yuan price segment and smart speaker market500-1,000The market sales volume of the meta-price segment maintained growth, and the demand for upgrade iteration gradually appeared. With the change of user demand from product function to user experience, the demand for quality upgrading of speaker market will further emerge this year, and users' attention to sound quality and appearance design will gradually increase.

Expand the breakdown scene layout. sports, games,KSongs, conferences and other sub-scenes are becoming an important direction for the expansion of the speaker market outside the mainstream audio demand. With the national consumption to the scene outside the home tilt, outdoor leisure and entertainment-related use demand will gradually increase, promote the development of market segments. On the one hand, expanding the layout of relevant scenes requires upgrading of product functions, such as equipment endurance, improvement of waterproof level and expansion of outdoor functions such as reverse charging. On the other hand, speakers need to accelerate innovation in product form and accessory combination to meet the needs of diversified scenes.

Promote the high-end market intelligence.2022The proportion of intelligent wireless speaker market in China is close60%From the price range, the degree of market intelligence is obviously different, the proportion of intelligent market range below 1000 yuan is more than 60%, and the proportion of intelligent speakers in the market sales above 1000 yuan is only10.6%, and mainly with a screen smart speaker. Limited by interactive experience, platform resources, payment mode and other factors, speaker intelligence for users to bring more limited experience upgrade is the main reason for hindering the development of intelligent market, the subsequent intelligent speaker voice interaction capability optimization and content resource expansion will gradually improve the intelligent use experience, thus leveraging the high-end market demand.

2. Home Audio Equipment Brand Evaluation and recommend

According to product function, appearance design, acoustic technology, brand influence, etc., this report evaluates and recommend the mainstream home audio equipment brands at home and abroad.

Views and Suggestions of 3. Champ Consulting Group

According to data from the Champ Consulting Group,2023Home audio equipment market will show the following characteristics:

The market size will maintain steady growth, but the growth rate will slow down. Affected by the outbreak, the demand for home entertainment increased, the home audio equipment market benefited. However, as the epidemic eases and the economy recovers, users' willingness and purchasing power for home audio equipment will decline. In addition, market saturation will also restrict market growth space.

Market competition will intensify, brand differentiation will become the key. With the advancement of technology and the upgrading of user needs, more new brands, new products and new functions will appear in the home audio equipment market. The competition between brands will become more intense, and brands need to enhance their competitiveness and influence through differentiated product design, functional innovation, content ecology, and marketing strategies.

Market segmentation will deepen, user personalization will be prominent. With the improvement of users' cognition and experience of home audio equipment, users' requirements and expectations for products will become more diversified and personalized. Different user groups, different use scenarios, different music preferences, etc. will affect the user's choice of home audio equipment. Therefore, brands need to provide more differentiated and personalized products and services according to different target markets and user profiles.

Based on the above analysis, Champ Consulting Group gives the following recommendations:

For brands, it is necessary to strengthen product research and development and innovation capabilities, improve product functions, appearance design, acoustic technology and other aspects, and create products with characteristics and advantages; at the same time, it is necessary to strengthen brand building and marketing promotion to enhance brand awareness, Reputation and loyalty form brand differentiation and advantages; in addition, it is necessary to strengthen content ecology and channel layout, and provide rich and high-quality content resources and services, expand online and offline sales channels to improve user experience and satisfaction.

For users, they need to choose appropriate home audio equipment brands and products according to their own needs, budget, space and other conditions; at the same time, they need to pay attention to the product's function, performance, quality, after-sales and other information, compare the advantages and disadvantages of different brands and products, and make rational and wise purchase decisions; in addition, it is necessary to use and maintain home audio equipment reasonably, ensure the normal operation and service life of the product.

Conclusion

Champ Consulting Pair2023The home audio equipment market was analyzed in, and the mainstream home audio equipment brands at home and abroad were evaluated and recommend.