Global Audio Equipment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Audio Equipment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

An audio device is a device that reproduces, records, or processes sound. This includes microphones, radio receivers, AV receivers, CD players, recorders, amplifiers, mixing consoles, effects and speakers.

Market Overview:

The latest research study on the global Audio Equipment market finds that the global Audio Equipment market reached a value of USD 34627.94 million in 2022. It’s expected that the market will achieve USD 52955.34 million by 2028, exhibiting a CAGR of 7.34% during the forecast period.

Drivers

With the development of the economy, the advancement of technology, and the improvement of people's living standards, people are more willing to invest in the improvement of living standards as consumers' purchasing power increases. Audio equipment can provide high-quality music services is no longer the exclusive equipment of the entertainment industry, but has become a common demand of the public; at the same time, the requirements for playing sound quality are getting higher and higher; these factors are driving the development of the audio equipment industry; The continuous development of the concert and KTV industry has also promoted the development of the audio industry.
In addition, in developed markets, they have more international companies, good channels, high market maturity, fierce competition, highly competent management team, technical and financial advantages, continuous innovation, and prominent market participants. Investing heavily in R&D and introducing their products with new technologies, all of which have created an increasing market demand for wallboards.

Opportunities

Improve performance
With advances in science and technology, more advanced materials and production methods, the company's investment will have more cost-effective, high-performance products, such as wireless audio equipment.

Emerging countries

For example, in China, India is developing its own industry. With the advancement of economy and technology, the downstream demand is increasing. If the construction industry increases, the wallboard market has huge market potential in the future.

Region Overview:

In 2022, the share of the Audio Equipment market in North America stood at 26.33%.

Company Overview:

Bose is one of the major players operating in the Audio Equipment market, holding a share of 6.52% in 2023.

Bose

Bose Corporation engineers, researches, develops, produces, markets, and retails loudspeakers, electronics, and software for the needs of professional applications worldwide. It offers automotive systems, combat vehicle crewman headsets, tactical headsets, ride systems, custom solutions for homeowners, speakers, micro Bluetooth speakers and headphones, and road noise control products.

Samsung Electronics

Samsung Electronics Co., Ltd., together with its subsidiaries, engages in the consumer electronics, information technology and mobile communications, and device solutions businesses worldwide.

Segmentation Overview:

Among different product types, Headphones &Earphones segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Commercial segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Audio Equipment market covered in Chapter 3:

Behringer
Peavey Electronics Corporation
Sony Corporation
Sennheiser Group
Rode Microphones
Sound United LLC
Samsung Electronics
Yamaha Corporation
LG Corporation
Bose
Shure
Audio-Technica Corporation
Edifier Technology Co. Ltd.

In Chapter 4 and Chapter 14.2, on the basis of types, the Audio Equipment market from 2018 to 2029 is primarily split into:

Speakers & Monitors
Headphones & Earphones
Microphones
Musical Instruments
Audio Interfaces

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Audio Equipment market from 2018 to 2029 covers:

Household
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)