Global Opportunities and Strategies in Audio and Video Equipment in 2022
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Global Opportunities and Strategies in Audio and Video Equipment in 2022

In 2018, the global audio and video equipment market was valued at approximately US$160.4 billion. It has declined at a compound annual growth rate (CAGR) of -1.86% since 2014. It is expected to decline slightly at a compound annual growth rate (CAGR) of -0.05% until 2022 of US$160.1 billion.
Published: Jun 21, 2021
Global Opportunities and Strategies in Audio and Video Equipment in 2022

What is so called audio and video equipment? Audio and video equipment is audio video equipment, audio visual system, or av equipment. The equipment works with sound and motion. It is used for meetings, concerts, sports events, conventions, and news conferences. Furthermore, it is common Youtuber equipment, vlog equipment.

  • Audio/Visual Equipment List
  • Data Projectors
  • Wireless Microphones
  • Powered Speakers
  • Microphone Mixers
  • Podiums...

The source of growth in the audio and video equipment market from 2014 to 2018 comes from the increase in disposable income, the increase in internet penetration, the increasing popularity of audio and video broadcasting, the high investment in electronic product manufacturing, and the growth of consumer electronic product e-commerce. The factor that hurts growth between 2014 and 2018 is the change in consumer preferences. Looking ahead, the economic growth, technological progress, demand growth, and life cycle shortening of consumer electronic products will drive market sales growth. Factors that may hinder the growth of the audio and video equipment market in the future include rising interest rates, shortening product life cycles, and changes in regulations.

Market Classifications

The audio and video equipment market is divided into audio equipment and video equipment by equipment type. The video equipment market is the largest segment of the audio and video equipment market by equipment type in 2018, accounting for 78%. The video equipment market is expected to become the fastest-growing market segment in the future, with a compound annual growth rate of 0.6%, and is expected to become the largest market segment by 2022.

The video equipment market is further subdivided into TVs, cameras, and video players according to the type of equipment. The TV market is the largest part of the video equipment market by device type in 2018, accounting for 67.3%. The TV market is expected to become the fastest-growing segment in the future, with a compound annual growth rate of 2.5%.

The video equipment market is further subdivided into B2B and B2C according to the type of end-use. The B2C market is the largest part of the video equipment market by end-use type in 2018, accounting for 94.1%. The B2B market is expected to become the fastest-growing market segment in the future, with a compound annual growth rate of 0.79%.

The audio equipment market is further subdivided into music players and other audio equipment, speakers and soundbars, microphones, amplifiers, and mixers according to device types. The music player and other audio equipment market is the largest segment of the audio equipment market by device type in 2018, accounting for 45.3%. The microphone market is expected to become the fastest-growing market in the future at a compound annual growth rate of -0.2%.

The audio equipment market is further subdivided into B2B and B2C according to the type of end-use. The B2C market is the biggest part of the audio equipment market by end-use type in 2018, accounting for 63.6%.

In terms of audio video equipment consumption, the Asia-Pacific region is the largest audio and video equipment market, accounting for 29.9% of the global market in 2018, followed by North America and Western Europe, followed by other regions. Looking to the future, the fastest growing regions in the audio and video equipment market will be Africa and South America, with compound annual growth rates of 7.7% and 4.1%, respectively. The growth of the audio and video equipment market in Africa and South America is expected to follow the Middle East and the Asia-Pacific region, and the compound annual growth rate of these markets is expected to be 3.5% and 1.5%, respectively.

Market Analysis

The global audio and video equipment market is relatively concentrated. In 2018, the top ten competitors accounted for 67% of the entire market. The major players in the audio and video equipment market include Samsung Electronics, LG, Sony, Panasonic, and TCL.

The audio and video equipment market in the global electronic product market reached nearly US$1,083 billion in 2018 and has grown at a compound annual growth rate (CAGR) of 2.48% since 2014. It is estimated that by 2022, the compound annual growth rate will be 4.19%, reaching nearly 1,276.4 billion US dollars. The semiconductor and other electronic components market accounts for the largest market share in the electronic product market, with a global value of US$922.6 billion. The audio and video equipment market is the smallest market segment, accounting for 14.8% of the global electronic product market in 2018.

The future of the global audio and video equipment market can focus on the field of video equipment. It is estimated that by 2022, global annual sales will reach 2.8 billion US dollars. The global audio equipment market will shrink by US$3.1 billion, but sales are expected to grow. The global video equipment market can focus on the TV field in the future. By 2022, global annual sales in this field are estimated to reach 8.9 billion U.S. dollars. The estimated market sales of video players will shrink by 2 billion U.S. dollars and the camera market by 4.1 billion U.S. dollars, but sales will increase. 

The global audio equipment market may focus on the microphone field in the future. It is estimated that this field will contract by 2022, but the sales volume will increase. Amplifiers, speakers and soundbar markets, music player sales will also increase. The audio and video equipment market will grow the most in China, reaching US$3.63 billion.

The video and audio equipment market trend strategy includes investing in innovative technologies, focusing on mass production of smart TVs, small-scale production of vinyl record players, launching wireless audio equipment and ultra-high-definition TVs. The strategies adopted by players in the audio and video equipments industry include the development of advanced audio and video technologies through R&D and company acquisitions, the development of innovative and high-quality TVs to strengthen market positions, the integration of core competitiveness of audio and video technologies, the development of new products and acquisitions.

Future Insights

To seize the opportunity, audio visual equipment suppliers can consider focusing on devices that support the Internet of Things, ultra-high-definition televisions, launching true wireless audio equipment, expanding emerging markets, using e-commerce to maximize coverage and revenue, and adopting high-quality products in emerging countries and advanced National pricing and offering competitively priced products in low-income countries to attract new users. Besides, the new opportunity for audio visual equipment suppliers, also new opportunity for customers to engage audio visual system in the smart world.

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Published: Jun 21, 2021 Source :163, Source :businesswire

  • Electronics Industry
  • Global
  • Audio and Video Equipment
  • Electronic Equipment
  • Audio Visual

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