By combining trend forecasting and competitive intelligence, this report supports future-focused strategy in the audio and video equipment sector.
What Is The Projected Market Size & Growth Rate Of The Audio And Video Equipment Market?
The audio and video equipment market size has grown steadily in recent years. It will grow from $297.94 billion in 2024 to $305.12 billion in 2025 at a compound annual growth rate (CAGR) of 2.4%. 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 $348.68 billion in 2029 at a compound annual growth rate (CAGR) of 3.4%. 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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What Is The Crucial Factor Driving The Global Audio And Video Equipment Market?
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.
Segment Covered In The Audio And Video Equipment Market Report
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:
1) By Audio Equipment: Speakers, Headphones And Earphones, Amplifiers, Microphones, Soundbars, Mixing Consoles, Audio Interfaces
2) By Video Equipment: Televisions, Projectors, Video Cameras, Streaming Devices, Video Conferencing Equipment, Display Screens
Key Trends Driving Growth In The Audio And Video Equipment Market
The changes in consumer lifestyles and preferences had a significant impact on the audio and video equipment market. With increasing smartphone and internet penetration and advances in social media and digital technologies, consumers shifted from traditional television to new forms of entertainment such as online audio and video streaming services on mobile phones. Television viewership continued to decline, especially among the millennial. For instance, in October 2023, according to a report published by the International Telecommunication Union, a Switzerland-based specialized agency, around 67 percent of the global population, or 5.4 billion people, are now online. This marks a 4.7 percent increase since 2022, up from the 3.5 percent growth recorded between 2021 and 2022. Changes in consumer preferences restricted the demand for audio and video equipment.
Key Player In The Audio And Video Equipment Market
Major companies operating in the audio and video equipment market include Kenwood Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Panasonic Corporation, LG Electronics Inc., JBL Incorporated, Pioneer Corporation, TEAC Corporation, 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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Global Audio And Video Equipment Market - Regional Insights:
Asia-Pacific was the largest region in the audio and video equipment market in 2024. North America was the second largest region in the audio and video equipment market. The regions covered in the audio and video equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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