When it comes to home audio, Spaniards are increasingly moving towards streaming services such as Spotify. Smartphones, laptops and tablets are the main sources for audio streaming, with these complemented by wireless speakers.
Despite declining demand for home audio and cinema the category saw its average unit price rise in 2019. This was partly down to the demand for higher quality and more expensive products.
Home cinema and speaker systems continued to struggle in 2019. This was largely due to the improved quality of the built-in audio of televisions in Spain.
The competitive landscape in home audio and cinema remained highly fragmented in 2019, with the leading five companies not even accounting for a half of overall volume sales. Philips, Sony and Panasonic were the leading three players, but all three saw significant declines in retail volume terms in 2019.
Over the forecast period one of the main competitive tools for manufacturers will be the launch of new devices with Bluetooth or Wi-Fi connectivity and high quality audio, also known as Hi-Res. Indeed, although the adoption of wireless audio devices is very strong, audiophiles still tend to prefer wired devices so as to be able to achieve the best audio quality.
Although most players in home audio and cinema recorded declines in retail volume terms in 2019 there were a few exceptions. While Sonos and Bose benefited from their focus on offering high-quality equipment, Spanish company Energy Sistem Technology SA benefited from a review of its portfolio in 2018.
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This industry report originates from Passport, our Consumer Electronics market research database.