While many markets were suffering during the pandemic, the audio industry was booming: according to Futuresource Consulting, in 2020, there was a significant bias towards more premium devices.
The trend primarily affected headphones, which was promoted by the release of Sony WH-1000XM4 and Apple AirPods Max, but also extended to acoustics, soundbars and other components of audio systems. Many were quarantined at home and began to improve their entertainment systems, realizing that music that sounds good helps to brighten up everyday life much more effectively. And those who have long planned to upgrade the audio system, decided not to postpone it anymore.
Among the soundbars, models with support for Dolby Atmos and DTS spatial formats were particularly popular:X, which cost more than $ 1,000, and their shipments from the first to the third quarter of 2020 increased by 32% compared to 2019.
Analysts also noted record demand for audio components worth more than $ 5,000. It is believed that this is to blame for the vinyl boom, fueling interest in turntables: this year, buyers of turntables worth more than $ 5,000 became 15% more.
According to analysts, the release of Apple AirPods Max worth $ 549 indicated the company’s confidence that users are willing to pay large sums for high-quality sound.
In any case, the pandemic will change the way of life of those who survived it: the post — pandemic world will probably be more focused on home entertainment-accordingly, users will have more time to listen to music and watch movies, which will require improving the quality of available equipment.
According to Futuresource Consulting, there is a fairly long-term trend to increase the market for luxury audio devices. Often, users who have appreciated the high-end sound, begin to improve their home systems both in terms of sound and functionality.