North America 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)

North America 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 North America is expected to grow from US$ 593.56 million in 2021 to US$ 718.39 million by 2028; it is estimated to grow at a CAGR of 2.8% from 2021 to 2028.

Home entertainment products include television, home theaters, projectors, and various other high-end electronic systems. The consumer electronics sector has changed dramatically over the previous decade with the introduction of new entertainment options, such as digital set-top boxes, home theatre systems, Blu-ray and other media players, and digital video recorders. In recent years, home theatre systems have seen a considerable increase in popularity among consumers due to the rising income levels of the populations in North American countries, which explains their willingness to spend more on entertainment products. Home theatre comprises sound and display systems, media players, storage devices, and theater-in-a-box systems. Additionally, the demand for customized home theaters is increasing. The Home Theater Company developed customized home theatre packages based on customers' preferences, room sizes, and designs. Further, with the growing interest of people in video-on-demand platforms, the adoption of smart TV has experienced a rise over the years across the region. For instance, smart TV adoption in the US reached 56% in 2021. Thus, the rising adoption of home theatres and increasing rising demand for smart TVs drive the growth of the North America AV receiver market.

During the COVID-19 pandemic, the manufacturing units across the region were temporarily closed to avoid the rapid spread of SARS-Co V-2. As a result, the manufacturing sector experienced notable losses due to temporary factory shutdowns and low production volumes, which hindered the production capacities of the automotive sector across the region, thereby decreasing the demand for AV receivers in this sector. However, owing to the shutdown of all major places and activities, the demand for home theaters surged in the region, which reflected in a rise in demand for AV receivers from the residential sector. This created a gap between supply and demand in the AV receiver market, leading to a decrease in the overall market revenue in 2020. However, during the Q3 of 2020, with the revival of economic activities across the region, the supply chain stakeholders resumed their operations.

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

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

North America AV Receiver Market Segmentation

North America 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 North America 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 North America AV receiver market in 2020. Based on country, the North America AV receiver market is segmented into US, Canada, and Mexico. US held the largest market share in 2020. Anthem, Arcam, Audio Control Inc., LG Electronics, Marantz, NAD Electronics, Onkyo Corporation, Pyle Audio, Sony Corporation, and Yamaha Corporation are among the leading companies in the North America AV receiver market.

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