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U.S. Home Audio Components Markets
Frost & Sullivan, July 2001
Desire to Replace Outdated Equipment Impacts Sales
With end users demanding the most technologically and digitally advanced products, they are willing to replace their existing audio players more frequently than in previous years. As a result, the consumer electronic component business has become a disposable enterprise—instead of repairing broken components, audio enthusiasts are purchasing higher quality systems for less than it would cost to repair an individual component. With audio components continuing to improve, and their prices steadily declining, the market will experience tremendous growth over the forecast period. This Frost and Sullivan research analyzes the U.S. home audio components markets including compact disc (CD) players, mini disc (MD) players, super audio CD (SACD) players, cassette decks, and turntables. By tracking emerging trends, identifying latest technology innovations, and providing expert forecasts, this study offers its readers a comprehensive guide to the future of the industry.
Creating Personalized CDs Spurs Industry Growth
'Technology is driving the growth of the digital market, with only the limits of the imagination placing restraints on the industry,' states the author of this research. Due to the popularity of MP3 web sites such as Napster, the concept of customizable compilations has become mainstream, prompting end users to purchase more sophisticated home audio systems. 'Consumers want the convenience and appeal of being able to create their own personal mixes of music,' says the author. As a rapidly increasing number of end users are buying high-quality, digital audio items such as CD recorders and SACD players to enhance their existing sound systems, manufactuers will benefit from heighten revenues.
Interoperable Capabilities, Distinctive Design Give Participants Winning Edge
Price and speed to market are no longer sufficient to capture consumer loyalty. According to the author, 'With the current competitive nature of the consumer electronics industry, manufacturers need to differentiate their products from those of the competition.' Emphasizing interoperable functionality, superior sound quality, and creative aesthetic design will help customers distinguish components from an overwhelming selection of diverse audio equipment.
This Frost & Sullivan research provides up-to-date information on the state of the home audio components market, offering readers a comprehensive guide to this ever-evolving industry.
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