London, UK -- (SBWIRE) -- 01/27/2020 -- The audio and video equipment market consists of sales of audio and visual (or video) equipment by entities (organizations, sole traders and partnerships) that manufacture audio and video equipment used for home entertainment, musical instrument amplification, motor vehicles, and public address. Audio and video equipment are also known as audio and video devices. Audio and video equipment includes televisions, speaker systems, video cassette recorders, stereo equipment, household-type video cameras, jukeboxes, and amplifiers for musical instruments and public address systems.

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Major trends influencing the audio and video equipment market include:

Growing Demand For Smart TVs:
The demand for smart TVs is being driven by the rising consumer preference for built-in smart functions in personal devices, and increasing internet penetration. A smart TV combines the features of televisions and computers, and comprises a television set with integrated functions for internet use. Smart TV users are also offered direct access to streaming services such as Netflix and Amazon Prime Video. To capitalize on this trend, television manufacturers across the world are entering the smart TV market. According to an IHS Technology report, 48.5% of televisions shipped globally in 2016 were smart TVs, and the number is estimated to reach 134 million by 2020.

Growing Adoption Of Wireless Audio Equipment:
The demand for wireless audio equipment market is increasing rapidly due to the increasing popularity of mobile devices and changing media consumption behavior of consumers. Consumers are increasingly using mobile devices, tablets and laptops to wirelessly play audio on speakers. Such consumer behavior is driving the growth of Wi-Fi and Bluetooth connected speakers. To capitalize on the growing popularity of wireless audio equipment, manufacturers such as Samsung, LG, Sony, Bose, Denon, DTS and Qualcomm are also launching wireless audio products or platforms. Popular Wi-Fi audio equipment include Sonos Wi-Fi speakers, Bose's SoundTouch system, Amazon's Echo speakers.

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The audio and video equipment market is segmented by type of equipment, by end-use and by geography.
By Type Of Equipment- The audio and video equipment market can be segmented by type of equipment
a) Video Equipment
b) Audio Equipment
The video Equipment market can be segmented into Television, Video Cameras, and Video Players. The Audio Equipment market can be segmented into Music Players And Other Audio Devices, Loudspeakers And Sound Bars, Microphones, and Amplifiers And Mixers. The video equipment market was the largest segment of the audio and video equipment market, accounting for 78% of the total in 2018. Going forward, the fastest-growing segments in the audio and video equipment market will be video equipment, where growth will be at CAGR of 0.6%.

By End-Use– The audio equipment market and video equipment market are segmented at global level type of end-use into
a) B2B
b) B2C

Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam

Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Asia Pacific was the largest region in the global audio and video equipment market, accounting for 29.9% of the total in 2018. It was followed by North America, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the audio and video equipment market will be Africa and South America.

Major Competitors of global audio and video equipment market are Samsung Electronics Co Ltd, Sony Corp, LG Electronics Inc, Panasonic Corporation, Bose Corporation

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