Audio And Video Equipment Market Size, Share, Growth, Analysis Report 2024 | Key Players: Kenwood Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Panasonic Corporation, LG Electronics Inc.

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2119

The Business Research Company presents an extensive market research report on the Audio And Video Equipment Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The audio and video equipment market size has grown steadily in recent years. It will grow from $163.42 billion in 2023 to $169.86 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth in the historic period can be attributed to broadcasting industry growth, globalization of media, adoption of color television, home recording studios, mobile devices integration.

The audio and video equipment market size is expected to see steady growth in the next few years. It will grow to $193.47 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to growing smart homes integration, podcasting and audio content, video conferencing demand, rise of short-form videos, e-sports industry growth. Major trends in the forecast period include 5g connectivity, smart and connected devices, home entertainment systems, ai and machine learning integration, wireless audio solutions, compact and portable devices.

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Key Market Players:
Major companies operating in the audio and video equipment market report are Kenwood Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Panasonic Corporation, LG Electronics Inc., JBL Incorporated, Pioneer Corporation, TEAC Corporation, NXP Semiconductors N.V., Harman International Industries Inc., Yamaha Corporation, Bose Corporation, Sennheiser Electronic GmbH & Co. KG, Onkyo Corporation, Shure Incorporated, Bowers & Wilkins Ltd., AKG Acoustics GmbH, Peavey Electronics Corporation, Alpine Electronics Inc., Allen & Heath Limited, Klipsch Group Inc., McIntosh Laboratory Inc., Paradigm Electronics Inc., Naim Audio Ltd., Behringer GmbH & Co. KG, Audio-Technica Corporation, Krell Industries Inc., MartinLogan Ltd., Polk Audio Inc., Bryston Ltd.

Market Drivers:
During the forecast period, internet penetration will increase rapidly due to increased public and private investments to increase internet connectivity. Many audio and video equipment use the internet to enhance the customer's experience. The growth in internet users will be also driven by greater access to affordable smartphones. For instance, in September 2023, according to Broadband Search, a US-based company that builds a database of internet and TV providers and plans, it is estimated that 93.79% of the population, approximately 311.3 million individuals are using the internet currently in the United States. Therefore, increasing internet penetration drives the audio and video equipment market going forward.

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The audio and video equipment market covered in this report is segmented -
1) By Type: Audio Equipment, Video Equipment
2) By Mode: Online, Offline
3) By Sales Channel: OEM, Aftermarket
4) By End-User: B2B, B2C

Subsegments Covered: Loudspeakers And Sound Bars, Microphones, Amplifiers And Mixers, Music Players And Other Audio Devices, Televisions, Video Players, Video Cameras

The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?

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