The audio equipment manufacturing industry comprises of establishments producing electronic audio equipment for home entertainment, musical instrument amplification, motor vehicles, and public-address systems. Audio equipment products include televisions, speaker systems, video cassette recorders, stereo equipment, jukeboxes, and amplifiers for musical instruments and public-address systems.
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The market was valued at $207.5 billion in 2017, and it is expected to be driven by the growing entertainment industry which has led to increasing demand for home audio equipment. Increasing usage of online entertainment, deployment of reliable and sophisticated music storage equipment and high-speed data streaming are expected to foster innovations in the home audio equipment market. Asia Pacific was the largest region in the audio and video equipment manufacturing market in 2017, accounting for more than half of the market share.
The audio equipment manufacturing market in the report is split into the following segments: loudspeakers, microphones, amplifiers, turntables, and others.
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China was the largest country accounting for nearly two-fifth of the global audio equipment market.
The top five competitors in the market Harman International, Dynaudio, Bose, KEF, and Polk. Harman International was the biggest player in the audio equipment manufacturing market. Harman International is an American subsidiary of Samsung Group that designs and engineers connected products for automakers, consumers and enterprises worldwide, including connected car systems; audio and visual products, enterprise automation; and connected services.
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