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Audio Equipment Market 2020 Precise Outlook - Sennheiser, Yamaha, Audio-Tehcnica, Shure, AKG, Blue, Lewitt Audio, Sony

 

Harrisburg, NC -- (SBWIRE) -- 10/22/2020 -- The Global Audio Equipment Market Research Report 2020-2030 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.

The global audio equipment market was worth $33.37 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of -1.65% and reach $31.23 billion by 2023.

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Market Segmentation
Top leading Companies of Global Audio Equipment Market are – Sennheiser, Yamaha, Audio-Tehcnica, Shure, AKG, Blue, Lewitt Audio, Sony, Takstar, and MIPRO

Markets Covered: 1) By Type: Loudspeakers; Microphones; Amplifiers; Turntables; Others; 2) By End User: B2B; B2C

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.

The audio equipment market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. North America was the largest region in the audio equipment market in 2019.

The audio equipment market covered in this report is segmented by type into loudspeakers, microphones, amplifiers, turntables and others and by end user into B2B and B2C.

Regulations by government have always been challenging to the audio equipment market as loudspeakers usage is one of the main reason 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, in 2017, 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, Boses SoundTouch system, and Amazons 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.

Browse in-depth and report summary TOC on Audio Equipment Market:
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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Audio Equipment Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Finally, Audio Equipment Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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