Global Audio Equipment Market Trends And Strategies Of Major Players In The Audio Equipment Market 2021-2030
24 Aug, 2021
The audio equipment market consists of sales of audio equipment and related services that are used for entertainment, musical instrument amplification, motor vehicles, and public address. Audio equipment is a device that is used for recording, reproducing, and processing the sound. Audio equipment include speaker systems, stereo equipment, and amplifiers for musical instruments and public address systems.
Global Audio Equipment Market Size And Drivers:
The global audio equipment market is expected to grow from $24.59 billion in 2020 to $28.54 billion in 2021 at a compound annual growth rate (CAGR) of 16.1%. 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 $28.71 billion in 2025 at a CAGR of 0.1%. The audio equipment market is expected to be driven by growing demand for wireless audio devices.
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Trends In The Global Audio Equipment Market
The demand for wireless audio equipment market is increasing rapidly due to the increasing popularity of mobile devices and changing media consumption behavior of consumers. Consumers are increasingly using mobile devices, tablets and laptops to wirelessly play audio on speakers. Such consumer behavior is driving the growth of Wi-Fi and Bluetooth connected speakers. To capitalize on the growing popularity of wireless audio equipment, manufacturers such as Samsung, LG, Sony, Bose, Denon, DTS and Qualcomm are also launching wireless audio products or platforms.
Global Audio Equipment Market Segments:
The global audio equipment market is further segmented based on type, end user, technology, price range and geography.
By Type: Loudspeakers, Microphones, Amplifiers, Turntables, Others
By End User: B2B, B2C
By Technology: Wired, Wireless
By Price Range: Low, Medium, High
By Geography: The global audio equipment market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Audio Equipment Market At:https://www.thebusinessresearchcompany.com/report/audio-equipment-global-market-report
Audio Equipment Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides audio equipment market overviews, analyzes and forecasts market size and growth for the global audio equipment market, audio equipment market share, audio equipment market players, audio equipment market segments and geographies, audio equipment market’s leading competitors’ revenues, profiles and market shares. The audio equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.