Audio & Video Equipment Manufacturing Industry Profile

Companies in this industry manufacture audio and video equipment such as televisions, stereos, speakers, video players, and camcorders. Major companies include Bose (US); LG Electronics and Samsung (both based in South Korea); Panasonic, Pioneer, and Sony (all based in Japan); and Philips (Netherlands).

The global audio and video equipment manufacturing market has gathered about $450 billion in 2023 and is forecasted to reach about $740 billion in 2030 with a compound annual growth rate (CAGR) of 11%, according to Verified Market Reports. Asia Pacific is dominating the market, followed by North America.

The US audio and video equipment manufacturing industry includes about 500 establishments (single-location companies and units of multi-location companies) with annual revenue of about $3 billion.

Competing products such as PCs and tablets, game consoles, and smartphones are covered in profiles of the Computer Manufacturing, Electronic Toys & Games Manufacturing, and Wireless Telecommunications Equipment Manufacturing industries, respectively.

COMPETITIVE LANDSCAPE

Demand is driven by consumer income and the rate of product innovation. The profitability of individual companies depends on manufacturing efficiency and effective marketing and distribution. Large companies have advantages in economies of scale in manufacturing, marketing, and distribution. Small companies can compete effectively by offering specialty products or components in system solutions, such as speakers in a home theater system. The US industry is concentrated: the 50 largest companies account for almost 80% of revenue.

Audio and video equipment competes with PCs, ...