Insights Into The Audio And Video Equipment Market’s Growth Opportunities Through 2023-2032 – Includes Audio And Video Equipment Market Share
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
During the forecast period, internet penetration are expected to drive innovation in audio and video equipment manufacturing, thus driving the market during the forecast period.
The global audio and video equipment market is expected to grow from $152.79 billion in 2022 to $157.13 billion in 2023 at a compound annual growth rate (CAGR) of 2.8%. The audio and video equipment market is expected to grow to $175.17 billion in 2027 at a CAGR of 2.8%.
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Global Audio And Video Equipment Market Segments Include:
- By Type: Audio Equipment, Video Equipment
- By End-User: B2B, B2C
- By Sales Channel: OEM, Aftermarket
- By Mode: Online, Offline
- Subsegments Covered: Loudspeakers And Sound Bars, Microphones, Amplifiers And Mixers, Music Players And Other Audio Devices, Televisions, Video Players, Video Cameras
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global audio and video equipment market in 2021.
Major Market Players in the audio and video equipment market include Samsung Electronics Co Ltd., Sony Corp, LG Electronics Inc., Panasonic Corporation and Bose Corporation.
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 January 2020, LG Electronics, a South Korea-based electronics company, launched as many as 14 new OLED TVs along with three new GX Gallery series 4K Ultra HD TVs, 88- and 77-inch class Real 8K models, and an all-new OLED screen – 48-inch at CES 2020. The company claims that the new LG TVs are designed to offer better picture quality, upgraded performance, and artificial intelligence-enabled features that improve the overall viewing experience.
The Audio And Video Equipment Global Market Report 2023 provides a audio and video equipment market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The audio and video equipment market forecast analyzes audio and video equipment market size, audio and video equipment market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Audio equipment is defined as a device that is used for recording, reproducing, and processing sound. Video equipment is an electronic device that can broadcast or receive electromagnetic waves to represent both sound and image. Audio and video equipment is used for home entertainment, musical instrument amplification, motor vehicles, and public address.
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