Dublin, Oct. 17, 2019 (GLOBE NEWSWIRE) -- The "Audio And Video Equipment Global Market Opportunities And Strategies To 2022" report has been added to ResearchAndMarkets.com's offering.
Where is the largest and fastest growing market for the audio and video equipment market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report describes and evaluates the global audio and video equipment market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.
The global audio and video equipment market reached a value of nearly $160.4 billion in 2018, having declined at a compound annual growth rate (CAGR) of -1.86% since 2014, and is expected to marginally decline at a CAGR of -0.05% to nearly $160.1 billion by 2022.
Growth in the historic period resulted from the rise in disposable incomes, increased internet penetration, the increased popularity of audio and video broadcasting, high investments in electronic product manufacturing, and growth in e-commerce for consumer electronics. Factors that negatively affected growth in the historic period were changes in consumer preferences.
Going forward, economic growth, technological advances, growing demand and shrinking life cycle of consumer electronics will drive growth. Factors that could hinder the growth of the audio and video equipment market in the future include increasing interest rates, shrinking product lifecycles, and changing regulations.
The audio and video equipment market is segmented by the type of equipment into audio equipment and video equipment. The video equipment market was the largest segment of the audio and video equipment market by type of equipment in 2018 at 78%. The video equipment market is expected to be the fastest-growing segment going forward at a CAGR of 0.6% and is expected to be the largest segment by 2022.
The video equipment market is further segmented by the type of equipment into television, video cameras and video players. The television market was the largest segment of the video equipment market by type of equipment in 2018 at 67.3%. The television market is expected to be the fastest-growing segment going forward at a CAGR of 2.5%.
The video equipment market is also further segmented by the type of end use into B2B (Business to Business) and B2C (Business to Consumer). The B2C market was the largest segment of the video equipment market by type of end use in 2018 at 94.1%. The B2B market is expected to be the fastest-growing segment going forward at a CAGR of 0.79%.
The audio equipment market is further segmented by the type of equipment into music players and other audio devices, loudspeakers and soundbars, microphones, amplifiers and mixers. The music players and other audio devices market was the largest segment of the audio equipment market by type of equipment in 2018 at 45.3%. The microphones market is expected to be the fastest-growing segment going forward at a CAGR of -0.2%.
The audio equipment market is also further segmented by the type of end use into B2B (Business to Business) and B2C (Business to Consumer). The B2C market was the largest segment of the audio equipment market by type of end use in 2018 at 63.6%.
In terms of consumption of audio and video equipment, Asia-Pacific was the largest market for audio and video equipment, accounting for 29.9% of the global market in 2018. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the audio and video equipment market will be Africa and South America, where growth will be at CAGRs of 7.7% and 4.1%, respectively. The growth of the audio and video equipment market in Africa and South America is expected to be followed by the Middle East and Asia-Pacific, where the markets are expected to grow at CAGRs of 3.5% and 1.5%, respectively.
The global audio and video equipment market is relatively concentrated, with a small number of large players. The top ten competitors in the market made up to 67% of the total market in 2018. Major players in the audio and video equipment market include Samsung Electronics Co. Ltd, LG Electronics Inc., Sony Corporation (Sony), Panasonic Corporation (Panasonic), and TCL.
The global electronic products market, of which the audio and video equipment market is a segment, reached a value of nearly $1,083 billion in 2018, having grown at a compound annual growth rate (CAGR) of 2.48% since 2014. It will grow at a CAGR of 4.19% to nearly $1,276.4 billion by 2022. The semiconductor and other electronic components market was the largest segment of the electronic products market and was worth $922.6 billion globally. The audio and video equipment market was the smallest segment, accounting for 14.8% of the electronic products market in 2018.
The top opportunities in the global audio and video equipment market will arise in the video equipment segment, which will gain $2.8 billion of global annual sales by 2022. The global audio equipment market segment will contract by $3.1 billion, however, it will grow in terms of volume sales. The top opportunities in the global video equipment market will arise in the television segment, which will gain $8.9 billion of global annual sales by 2022. The market for video players and video cameras will contract by $2 billion and $4.1 billion respectively but will grow in terms of volume sales. The top opportunities in the global audio equipment market will arise in the microphones segment, which will contract by $0.02 billion by 2022 but will grow in terms of volume sales. The market for amplifiers, loudspeakers and soundbars, and music players will also grow in terms of volume sales. The audio and video equipment market size will gain the most in China at $3.63 billion.
Audio and video equipment market-trend-based strategies include investing in innovative technologies, a focus on the high-volume production of smart TVs, manufacturing vinyl record players on a small scale, launching wireless audio equipment and ultra HD televisions. Player-adopted strategies in the audio and video equipment industry include developing advanced audio and video technologies through research and development, and company acquisitions, strengthening market position by developing innovative and premium TVs, integrating core competencies in audio and video technologies, develop new products and through acquisitions.
To take advantage of the opportunities, the author recommends that audio and video equipment companies consider focusing on IoT enabled devices, ultra HD televisions, launch true wireless audio devices, expand in emerging markets, leverage e-commerce to maximize reach and revenues, adopt premium pricing in emerging and advanced countries and provide competitively priced offerings in low-income countries to reach new users.
Companies Mentioned
- ACRE
- Apple
- Atlia Systems Inc.
- Audico Systems Oy
- Beats
- ComNet
- Current Audio
- Elite Sound & Lighting
- GN Audio
- Harman International
- LG Electronics Inc.
- Monitor Audio
- Onkyo
- Panasonic Corporation
- Pioneer Electronics
- Roksan Audio
- Samsung Electronics Co. Ltd.
- Sony Corporation
- Sound Vision Technologies
- Starlike Oy
- TCL
For more information about this report visit https://www.researchandmarkets.com/r/ihpcyt
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