Global Audio And Video Equipment Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
15 Jun, 2021
The audio and video equipment market consists of sales of audio and video equipment by entities (organizations, sole traders and partnerships) that manufacture audio and video/video equipment used for home entertainment, musical instrument amplification, motor vehicles, and public address. Audio and video equipment includes televisions, speaker systems, video cassette recorders, stereo equipment, household-type video cameras, jukeboxes, and amplifiers for musical instruments and public address systems.
Global Audio And Video Equipment Market Size And Drivers:
The global audio and video equipment market is expected to grow from $115.2 billion in 2020 to $138.34 billion in 2021 at a compound annual growth rate (CAGR) of 20.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $154.07 billion in 2025 at a CAGR of 3%. Change in consumer preferences in the main driver of the market.
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Trends In The Global Audio And Video Equipment Market
The growing demand for curved TVs is being driven by consumer preference for better viewing. A curved screen allow for a more immersive experience, as the curve make viewer fill more of field of view and also provide a wider viewing angle.
Global Audio And Video Equipment Market Segments:
The global audio and video equipment market is further segmented based on type, end use, sales channel, mode and geography.
By Type: Audio Equipment, Video Equipment
By End-Use: B2B, B2C
By Sales Channel: OEM, Aftermarket
By Mode: Online, Offline
Sub-segments Covered: Loudspeakers And Sound Bars, Microphones, Amplifiers And Mixers, Music Players And Other Audio Devices, Televisions, Video Players, Video Cameras
By Geography: The global audio and video equipment 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, accounting for 32% of the market in 2020.
Read More On The Report For The Global Audio And Video Equipment Market At:https://www.thebusinessresearchcompany.com/report/audio-and-video-equipment-global-market-report
Audio And Video Equipment Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides audio and video equipment market overviews, analyzes and forecasts market size and growth for the global audio and video equipment market, audio and video equipment market share, audio and video equipment market players, audio and video equipment market segments and geographies, audio and video equipment market’s leading competitors’ revenues, profiles and market shares. The audio and video equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.