AV Receiver Market to hit US$ 2,616.44 million, Globally, by 2028 at 3.9% CAGR: The Insight Partners

According to the new research report titled "AV Receiver Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 2,616.44 million by 2028, registering a CAGR of 3.9% from 2021 to 2028.

The AV receiver experienced a rise in commercial applications across the automotive and digital signage industry over the years in the North American region. US, Canada, and Mexico have experienced the rise of passenger cars over the years with increasing individual disposable income. For instance, according to the International Organization of Motor Vehicle Manufacturers in 2020, the US, Canada, and Mexico produced 1,926,795; 327,681; and 967,479 cars respectively. Additionally, the rising demand for efficient audio and video systems across passenger cars is further influencing the adoption of AV receivers by automotive manufacturers across the region. Thus, the rising investment by car manufacturers to integrate efficient audio and video systems across their vehicles is expected to contribute to the growth of the AV receiver market across the region.

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Due to the COVID-19 outbreak, the manufacturing units across North America were temporarily closed to combat the rapid spread of the novel coronavirus. The manufacturing sector experienced losses due to temporary factory shutdowns and low production volumes, which hindered the production capacities of the automotive sectors across the region, thereby decreasing the demand for AV receivers from the sector. However, owing to the shutdown of all major places and activities, the demand for home theaters experienced a rise, thereby positively impacting the demand for AV receivers from the residential sector. This rise in demand for home theaters created a supply and demand gap in the market, leading to a decrease in their overall revenue in 2020. However, during the Q3 of 2020, with the normalization of economic activities across the region, the supply chain resumed its operations, but the effects of the COVID-19 pandemic had weakened North America's AV receiver market. However, the market experienced a positive impact as the demand for AV receivers started growing in the US, Canada, and Mexico from the end-user industries, such as automotive, from Q3 of 2020.

The AV receiver market is segmented based on channel, application, and geography. Based on channel, the market is segmented into channel 5, channel 7, channel 9, and others. Based on application, the AV receiver market is bifurcated into residential and commercial. Based on geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America.

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Key Findings of Study:

Home entertainment contains components such as television, home theaters, projectors, and a variety of other high-end electronic systems. The consumer electronics sector has changed dramatically over the previous decade, with new entertainment options such as digital set-top boxes, home theatre systems, media players like Blu-ray players, and digital video recorders entering the market. In recent years, home theatre systems have seen a considerable increase in popularity among consumers. This is due to the global population's increasing income levels and willingness to spend more on entertainment solutions. Sound and display systems, media players, storage devices, and theater-in-a-box systems are all examples of home theatre items. Additionally, consumers over the years have increased their demand for customized home theaters. Therefore, companies like The Home Theater Company develop customized home theatre packages based on a customer's preferences, room size, and design. These factors are thus positively influencing the demand for AV receivers from home theater users over the years.

Market Insights - AV Receiver Market

The market for AV receiver devices is being driven by rapid advancements in home audio technology and rising demand for high-quality audio systems. The demand for home theatre systems and consequently AV receiver devices has increased because of technology trends such as the digital living room. The rising demand for AV receivers has also been assisted by falling prices of home theatre across the globe. Low-cost alternatives, on the other hand, pose a threat to the home audio device industry, thereby, restricting the growth of the global AV receiver market.

The List of Companies AV Receiver Market

Arcam, LG Electronics, Marantz, Pyle Audio, Yamaha Corporation, Sony Corporation, Onkyo Corporation, NAD Electronics, Anthem, and Audio Control Inc.

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Players operating in the AV Receiver Market are mainly focused on the development of advanced and efficient products.

In January 2021, Yamaha Music India Pvt. Ltd. launched two new A/V receivers for the Indian market. The RX-V6A and RX V4A audio/video receivers were launched by the company which supports 8K, HDMI 2.1, and HDR10+. The RX-V4A model supports 5 channels, whereas the RX-V6A model supports 7 channels.

In November 2020, Anthem Inc., introduced its all-new MRX 540, 740, and 1140 A/V Receivers, AVM 70 and 90 A/V Processors, and MCA 225, 325, and 525 Power Amplifiers. These new enhancements, which include industry-leading room correction, professional management of the newest audio formats, and strong integration, will enable the company to continue setting the standard for excellent performance in a budget-friendly manner.

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Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals, and Materials.

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