Asia Pacific AV Receiver Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Channel (Channel 5, Channel 7, Channel 9, and Others) and Application (Residential and Commercial)        

Asia Pacific AV Receiver Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Channel (Channel 5, Channel 7, Channel 9, and Others) and Application (Residential and Commercial)        

The AV receiver market in APAC is expected to grow from US$ 741.98 million in 2021 to US$ 1,062.23 million by 2028; it is estimated to grow at a CAGR of 5.3% from 2021 to 2028.

The increasing disposable income of the population in APAC countries is boosting the spending on home theaters from the residential sector. Moreover, the demand for smart systems has increased over the years to ensure efficient wireless connectivity in devices. Manufacturers of receivers for modern home cinema systems are integrating a range of technologies, such as 8K video, Dolby Atmos, Wi-Fi music streaming, and high-quality audio with their product offerings.

For instance, the Yamaha RX-V6A offers a fresh design with easy control panels and optimum sound quality. The system is integrated with the latest connectivity technologies—Wi-Fi, Air Play 2, Spotify, Bluetooth, and Yamaha's Music Cast system—for efficient and hassle-free streaming from any device. Similarly, the Onkyo TX-NR6100 offers a wide streaming selection format, such as built-in Chromecast, DTS Play-Fi, Spotify, Air Play, and Bluetooth. The rising demand for wireless connectivity for AV receivers would influence the demand for wireless technology integrated systems, which is expected to fuel the growth of the APAC AV receiver market during the forecast period.

The limitations imposed by several governments across APAC to control the spread of COVID-19 during the initial stage of the pandemic (Q1 2020) severely affected the manufacturing sector, mainly through the availability of a limited workforce in industries such as automotive, manufacturing (including AV receiver manufacturing). Moreover, owing to job loss or salary cuts, buying capacity of customers decreased substantially across developing countries, such as India. The reduced buying power hampered the sales of electronic devices, as well as the demand for AV receivers across the region. However, as the economies re-opened and industries began their operations in the second half of 2020, the requirement for AV receivers from the residential and commercial sectors started to grow gradually. Also, with the relaxation of earlier social restrictions, companies can now work with high workforce capacity, which is contributing to the normalization of the AV receiver market in APAC.

With new features and technologies, vendors can attract new customers and expand their footprints in APAC AV receiver market. This factor is likely to drive the market at a good CAGR during the forecast period.

APAC AV Receiver Market Revenue and Forecast to 2028 (US$ Million)

APAC AV Receiver Market Segmentation

APAC AV receiver market is segmented into channel and application, and country. Based on channel, the global AV receiver market is sub-segmented into channel 5, channel 7, channel 9, and others. The Channel 7 segment accounted for the highest share in the APAC AV receiver market in 2020. Based on application, the AV receiver market is segmented into residential and commercial. The residential segment accounted for the highest share the APAC AV receiver market in 2020. Based on country, the APAC AV receiver market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. China held the largest market share in 2020. Arcam, LG Electronics, Marantz, NAD Electronics, Onkyo Corporation, Pyle Audio, Sony Corporation, and Yamaha Corporation are among the leading companies in the APAC AV receiver market.

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