New York, March 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Audio Equipment Global Market Report 2022" - https://www.reportlinker.com/p06247459/?utm_source=GNW
32 billion in 2021 to $34.42 billion in 2022 at a compound annual growth rate (CAGR) of 6.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $42.44 billion in 2026 at a CAGR of 5.4%.
The audio equipment market consists of sales of audio equipment and related services that are used for entertainment, musical instrument amplification, motor vehicles, and public address.Audio equipment is a device that is used for recording, reproducing, and processing the sound.
Audio equipment include speaker systems, stereo equipment, and amplifiers for musical instruments and public address systems.
The main types of audio equipment are loudspeakers, microphones, amplifiers, turntables and others.An amplifier is a type of electronic device that boosts a signal’s voltage, current, or power.
The audio equipment prices range from low, medium to high and are available in various technologies such as wired and wireless. The end users involved are 2B and B2C.
Asia Pacific was the largest region in the audio equipment market in 2021.North America was the second-largest region in theaudio equipment market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The audio equipment market is expected to be driven by growing demand for wireless audio devices.The demand for wireless audio devices is growing rapidly due to changing consumers’ behavior in media consumption and increasing popularity of mobile devices.
Consumers are increasingly using their mobile devices, laptops and tablets to play audio on speakers wirelessly, which is driving the growth of Wi-Fi and Bluetooth connected speakers. Companies such as Samsung, Sony, LG and Bose are launching wireless audio products.
Regulations by government have always been challenging to the audio equipment market as loudspeakers usage is one of the main reasons for noise pollution.Noise pollution deteriorates both physiological and psychological health which may lead to health complications such as hypertension, anxiety, increased stress level and can even lead to coronary artery disease.
In India, the Supreme Court passed a regulation which restricts the use of public address systems at night (between 10:00pm and 6:00am) and during cultural or festive occasions to not more than 15 days a year. These regulations are expected to negatively impact the growth of the audio equipment market.
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, and Amazon’s Echo speakers.
In September 2019, the US based company, Sonance announced that it has entered into an agreement with James Loudspeaker to acquire James for an undisclosed amount.The aim of the deal is to combine engineering technology to reinforce their goal of providing superior acoustic performance in products by delivering innovative approaches.
James Loudspeaker is a US based company and an innovator in both high performance residential and commercial audio solutions. It produces products for exclusive homes, forward-thinking businesses, and upscale marine applications.
The countries covered in the audio equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06247459/?utm_source=GNW
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