Is There Still a Market for Premium Home Audio?
Remember the first really great set of speakers you owned? Maybe they were Bose-901s, with most of the sound reverberating off the walls to create a true surround sound. Were you one of those stereo geeks who eschewed a receiver, instead revering the high fidelity of your Harmon-Kardon power amp and tuner? A lot has changed in the world of “hi-fi” over the last quarter of a century, with the vast majority of consumers seemingly listening only on their earbuds, and getting their music from a handheld device. Is component hi-fi dead? What is the future of the listening experience?
It’s Still Ultimately about Sound Quality
While audiophiles acknowledge that the demand for high-end audio equipment has decreased dramatically, they contend that it’s evolved from a consumer good to a hobby. The changes in how we listen, they insist, have been fueled by convenience and cost, which typically appeal to the masses. The market for hi-fidelity remains (and has almost always been) at the fringes. While smartphone and audio player sound quality has improved, it still can’t come close to what can be produced by well-engineered audio components. In fact, a study by Market Research Future found the home high end audio market generating nearly $5 billion in sales in 2024, with projected growth of nearly 5% per annum over the next ten years.
Why Is the Home High End Audio Market Growing?
Audiophiles say that the easier access to music and other recordings has also led to a demand for better sound quality. In addition, many people have expanded their home entertainment centers to accommodate gaming or to replicate the theatre environment. Accordingly, they want richer and more nuanced audio in their homes.
Additionally, advances in technology have bolstered high end home audios, including wireless technologies, such as Bluetooth, as well as Dolby Atmos and DTS:X. Smart technology has also allowed homeowners to use voice commands to manage sound throughout the home.
Fundamentally, though, audiophiles simply note that earbuds cannot replicate the full spectrum of sound produced by component audio gear. Though new technology has produced richer bass sounds in earbuds, the technology requires a tight seal within your ear canal to get the true effect, often difficult or impossible.
