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. US$160.1 billion.
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.
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 and 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.
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 equipment 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.
To seize the opportunity, audio and video equipment companies 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.
Analysis and statistics of China's electronic audio-visual industry:
The scale of electronic audio-visual consumption exceeds 200 billion, and the household market dominates in 2021-2026
Electronic audio-visual products mainly refer to digital audio-visual products and various electronic equipment involved in the audio-visual industry, mainly including the broadcasting and television equipment industry, color TV industry, optical disc industry, audio industry, new portable equipment industry, etc. Broadcasting and television equipment has developed in the Chinese market for many years, and has developed a variety of transmitter series products, differential converter series products, and related supporting equipment; China's color TV industry has established a complete machine as the main body and supporting components as the support. A relatively complete color TV industrial system with basically complete varieties and specifications, continuous expansion of economic scale, and continuous improvement of technological level. The color TV industry has become the most widely distributed, fastest-growing, and largest consumer electronics industry in China's electronic information product manufacturing industry; optical disc equipment mainly includes CVD machines, SCVD machines, DVD machines, EVD machines, etc. and key supporting parts; in In the field of audio products, China has formed a production base for medium and low-end products and accessories, but it is slightly insufficient in terms of high-end audio products; new portable devices mainly refer to portable electronic products with application innovation as the main feature.
In recent years, the macro-economy of China’s industries has maintained rapid growth, per capita, disposable income has continued to increase, and residents’ purchasing power has continued to increase. Consumption has gradually shifted from focusing on basic living in the past to improving the quality of life and the convenience of life. It provides a good development environment for the development of the electronic audio-visual industry and will promote the continuous growth of audio-visual consumption.
There are many brands in the audio-visual industry of China Electronics, presenting a market pattern in which large-scale corporate brands compete with small and medium-sized enterprises. The large-scale corporate brands in the Chinese market are in a leading position in the domestic and foreign markets. With years of technology accumulation, brand building, and sales channel establishment, they have occupied a large share in China's domestic mid-to-high-end product market, and are close to the electronic audiovisual segment. Or reach the international leading level, and the international competitiveness will continue to increase. In addition, there are many small and medium-sized enterprises in the industry, which carry out business activities in the form of technology development, OEM production, etc., and occupy a certain market share in the low-end and medium-end fields.
The innovative R&D and production of electronic audio-visual products have relatively high barriers to capital, technology, talents, and markets. However, China's electronic audio-visual supporting industry and the supply system of raw materials and parts are relatively complete, and the threshold for entering the industry through low-end and mature product assembly methods is relatively high. low. Therefore, attracted by the market prospects in the early stage, the Chinese electronic audio-visual industry gathered a group of small and medium-sized enterprises engaged in low-end assembly and production. In addition, at that time, China's technological innovation awareness was weak and the accumulation of high-end product innovation was insufficient. Products prevail. In recent years, as the quality of China's domestic electronic audio-visual industry has improved, the structure of electronic audio-visual products has been optimized. However, there are still serious overcapacity and low-price competition in the middle and low-end fields, which are not conducive to the development of the electronic audio-visual industry.