Austin, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Market Size & Growth Insights:
According to the SNS Insider, “The Audio Visual Hardware Market Size was valued at USD 257.2 billion in 2023 and is expected to reach USD 450.4 Billion by 2032, growing at a CAGR of 6.44% from 2024-2032.”
Surge in Demand for Audio-Visual Hardware Driven by Digital Content Consumption and Technological Advancements
The Audio-Visual (AV) hardware market is expanding due to increasing demand across sectors like entertainment, education, corporate, and retail. This growth is fueled by the global consumption of digital content and the desire for immersive experiences, evident in the widespread adoption of 4K and 8K TVs, advanced projectors, and sound systems. The education sector is particularly driving demand for AV equipment like interactive displays and projectors, while VR/AR technologies open new opportunities for hardware manufacturers, especially in gaming and simulation. Hybrid work models have further boosted the need for video conferencing hardware. Retailers are also leveraging AV for digital signage and customer experiences. Advancements in sound processing, AI-enhanced audio and connected smart devices are enhancing the market's growth by delivering seamless audio-visual experiences.
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Leading Market Players with their Product Listed in this Report are:
- Sony Corporation – Sony Bravia XR A80J OLED TV
- Samsung Electronics – Samsung QLED 8K TV
- LG Electronics – LG C1 OLED TV
- Panasonic Corporation – Panasonic 4K Blu-ray Player
- Sonos Inc. – Sonos Ray Soundbar
- Bose Corporation – Bose Soundbar 700
- Vizio Inc. – Vizio 4K Smart TV
- Harman International – JBL Bar 9.1 Soundbar
- Sharp Corporation – Sharp 8K TV
- Epson America Inc. – Epson EF-100 Mini-Laser Projector
- BenQ Corporation – BenQ TK850i 4K UHD Projector
- Crestron Electronics – Crestron Mercury Conference System
- Barco – Barco ClickShare Conference
- NEC Display Solutions – NEC MultiSync UN552S
- Mitsubishi Electric – Mitsubishi LaserVue TV
- Epson – Epson Home Cinema 3800 Projector
- Pioneer Electronics – Pioneer Elite SC-LX704 AV Receiver
- Yamaha Corporation – Yamaha YSP-5600 Soundbar
- JVC Kenwood Corporation – JVC DLA-NX9 4K Projector
- Harman Kardon – Harman Kardon Citation 500 Speaker
Audio Visual Equipment Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 257.2 Billion |
| Market Size by 2032 | USD 450.4 Billion |
| CAGR | CAGR of 6.44% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segmentation | • By Type (Equipment, Digital Signal Management (DSM), Cables & Connectors) • By Application (Professional, Consumer) |
| Key Drivers | • Growing demand for streaming services and digital media platforms drives the need for high-quality AV equipment. • Educational institutions are increasingly using AV hardware like interactive displays and projectors for digital learning environments. |
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Audio-Visual Hardware Market Growth Driven by Professional and Consumer Segments, with Equipment and DSM Leading the Charge
By Application
The professional segment led the market in 2023, holding a significant revenue share, with fierce competition from both large and small national and international players. Brand reputation is crucial, as established brands are often associated with quality and features. Key market leaders include AVI-SPL Inc., AVI Systems Inc., Ford Audio-Video LLC, and Solotech Inc.
On the consumer side, demand for AV products that integrate into smart home networks, offer voice control, and enhance streaming and gaming experiences is rising. Portable devices like tablets and wireless speakers, along with added features such as streaming and fitness tracking, are further driving market growth.
By Type
In 2023, the equipment segment led the market, accounting for 77.2% of revenue, driven by the rise in high-resolution displays, advanced audio systems, and VR/AR technologies. Manufacturers have introduced multi-purpose devices like smart TVs, and new wireless solutions have simplified installations. As technology advances, improvements in user experience with intuitive interfaces, voice control, and personalization will further fuel growth.
The digital signal management (DSM) segment is expected to see the highest CAGR, as AV systems become more complex, requiring effective signal routing, processing, and control. DSM solutions are crucial for managing integrated AV devices and providing seamless, automated, and intuitive user experiences.
North America Leads Audio-Visual Hardware Market, with Asia-Pacific Set for Strong Growth
In 2023, North America held the largest market share in the audio-visual hardware sector, accounting for 32.8%. The demand is driven by the desire for AV solutions that offer flexibility and convenience. While premium products remain dominant, there is a growing preference for affordable, entry-level models. A standout product, the Roku Streambar, combines a soundbar with streaming capabilities at an affordable price, offering 4K HDR support and Bluetooth connectivity, making it ideal for budget-conscious consumers.
The Asia-Pacific region is expected to see substantial growth from 2024 to 2032. Factors such as rising demand for smart home solutions, expansion of high-speed internet, and the adoption of OTT streaming services are driving the market. Additionally, AI and AR integration into AV hardware is enhancing user experience, particularly in vehicles.
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Recent Development
- February 26, 2024 – The competition between Sony's 360 Reality Audio (360RA) and Dolby Atmos Music is heating up as these new surround-music formats reshape how we experience audio. Both companies believe immersive 3D audio will resonate with GenZ, who value sound quality, a stark contrast to Millennials, who once preferred compressed audio formats. This shift marks a significant evolution in the way music is consumed, following the portable digital revolution of the early 2000s.
- April 2024 – Panasonic will provide advanced AV solutions for the Paris 2024 Olympic and Paralympic Games. As a Worldwide Partner, it will deploy state-of-the-art equipment, including 160 laser projectors and the IT/IP Platform KAIROS, aiming to enhance event efficiency, sustainability, and operational innovation.
Table of Contents - Major Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Wafer Production Volumes, by Region (2023)
5.2 Chip Design Trends (Historic and Future)
5.3 Fab Capacity Utilization (2023)
5.4 Supply Chain Metrics
6. Competitive Landscape
7. Audio Visual Hardware Market Segmentation, by Type
8. Audio Visual Hardware Market Segmentation, by Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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