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The home audio market (wireless speakers, soundbars, Hi-Fi systems, A/V receivers and speaker docks) grew by 22% to ship 71 million units. Trade value also grew by 22%, generating just under US$10 billion worth of revenues in 2014, according to Futuresource Consulting.
Wireless speakers and soundbar shipments exceeded market expectations and accounted for the lion's share, far outweighing the decline in demand for traditional audio devices i.e. A/V receivers and Hi-Fi systems. The wireless speaker market was fuelled by strong growth in Bluetooth speakers in the lower end of the price spectrum and multi-room audio at the premium end.
Home audio devices increasingly offer wireless functionality and shipments with this feature grew by 93% from 27 million units in 2013 to 53 million units in 2014. Futuresource said it predicts that virtually all home audio devices will be wireless by 2019.