AUDIO AND VIDEO EQUIPMENT Market Size and Forecast 2024-2033| Kenwood Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Panasonic Corporation, LG Electronics Inc

The Audio And Video Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Audio And Video Equipment Global Market Report 2024, 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.

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 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 audio and video equipment market report table of contents includes:

1. Executive Summary

2. Audio And Video Equipment Market Characteristics

3. Audio And Video Equipment Product/Service Analysis -Product/Service Examples

4. Audio And Video Equipment Market Trends And Strategies

5. Audio And Video Equipment Market – Macro Economic Scenario

26. Germany Audio And Video Equipment Market

27. France Audio And Video Equipment Market

28. Italy Audio And Video Equipment Market

29. Spain Audio And Video Equipment Market

30. Austria Audio And Video Equipment Market

Top Major Players: