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Audio And Video Equipment Market Outlook, Critical Insights, Trends Analysis, Key Players And Forecast To 2033
Audio And Video Equipment Market Analysis
The Business Research Company offers in-depth market insights through Audio And Video Equipment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Surging Internet Penetration Propels Growth In Audio And Video Equipment Market
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.
Competitive Landscape:
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.
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Top Trend - Increasing Focus On Curved Tvs To Drive The Revenues In The Market
The growing demand for curved TVs is being driven by consumer preference for better viewing. A curved screen allows for a more immersive experience, as the curve makes the viewer fill more of the field of view and also provides a wider viewing angle. For example, in September 2022, LG, a South Korea-based electronics company launched, the OLED Flex TV LX3. This comes with a bendable display and can be used both as a flat and curved panel. The additional features include flexibility that offers a maximum curvature of up to 900R and can be used easily for regular viewing or even as a computer monitor.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Audio And Video Equipment Market Characteristics
3. Audio And Video Equipment Market Trends And Strategies
4. Audio And Video Equipment Market - Macro Economic Scenario
5. Audio And Video Equipment Market Size And Growth
…..
27. Audio And Video Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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