Audio Visual Hardware Market Report 2024

This Audio Visual Hardware market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The audio visual hardware market size has grown strongly in recent years. It will grow from $282.52 billion in 2023 to $309.78 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. Thehistorical growth can be linked to various factors such as the growing popularity of home entertainment systems, the expansion of personal computing, the emergence of the internet and streaming services, an increasing demand for corporate and educational audio-visual (AV) solutions, and the widespread use of mobile devices.

The audio visual hardware market size is expected to see strong growth in the next few years. It will grow to $450.76 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. Theexpected growth in the forecast period can be ascribed to several factors, including the rising demand for virtual and augmented reality applications, the rollout of 5G networks, the increasing popularity of smart home systems, the growth of e-sports and online gaming, and the shift towards remote work and virtual collaboration. Key trends anticipated during this time include the incorporation of AI to improve user experiences, the expansion of smart home and IoT-connected devices, progress in wireless audio and video technologies, a move towards seamless integration with smart home ecosystems, and a heightened demand for high-performance gaming and e-sports equipment.

The expansion of e-sports and online gaming is projected to propel the growth of the audio-visual hardware market. This sector involves competitive video games played either solo or in teams, frequently streamed to audiences. The surge in e-sports and online gaming is driven by better internet connectivity, the proliferation of streaming platforms, and a growing interest in competitive gaming. Enhanced audio-visual hardware plays a crucial role in this growth by providing high-resolution visuals, immersive sound, and smooth connectivity, all critical for competitive gameplay and audience engagement. For instance, Ukie’s 2023 Consumer Market Valuation Report, released by Electrical Networks UK (ENUK) in May 2024, reported a 140% rise in revenues from UK gaming events and venues, reaching $12.9 million (£10.3 million) in 2023, compared to $5.5 million (£4.35 million) in 2022. This trend in e-sports and online gaming is anticipated to further drive the expansion of the audio-visual hardware market.

Key players in the audio-visual hardware sector are focusing on developing advanced technological solutions, such as all-in-one audio-visual devices, to meet the growing demand for integrated systems that provide streamlined user experiences. These all-in-one devices combine speakers, cameras, microphones, and displays into a single unit, simplifying setup and improving the user experience in environments like conference rooms and home theaters. For example, in April 2024, Axis Communications, a Swedish manufacturer of network cameras, launched the AXIS Q9307-LV Dome Camera. This all-in-one device is designed to enhance remote monitoring and communication, featuring 5 MP video, two-way audio, and built-in analytics to detect coughing fits and stressed voices. It includes the AXIS Live Privacy Shield for privacy protection and a vandal-resistant design, making it ideal for applications such as telesitting in healthcare and loitering detection in retail settings.

In June 2023, inMusic Brands, a US-based company known for its wide range of audio products, acquired Moog Music Inc. The terms of the acquisition were not disclosed, but the goal is to enhance Moog’s operational capabilities by leveraging inMusic's global distribution and supply chain network. This move is expected to drive innovation and growth as Moog transitions from being employee-owned to part of a larger corporate structure. Moog Music Inc., a USA-based company, that specializes in analog synthesizers and other audio-visual equipment.

Major companies operating in the audio visual hardware market are Samsung Electronics, Sony Corporation, LG Electronics, Panasonic Corporation, Wesco International, Aviom Inc., Amphenol Corp., Harman Professional Solutions, Bose Corporation, Belden Inc., Crestron Electronics, Barco NV, Black Box, BenQ Corporation, Solotech Inc., Blackmagic Design, Kramer Electronics, Electrosonic, Ford Audio-Video LLC, Extron Electronics, Switchcraft Inc., Sennheiser, Avidex Industries LLC.

North America was the largest region in the audio visual hardware market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the audio visual hardware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the audio visual hardware market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Audio-visual (AV) hardware includes physical devices and equipment used to capture, process, display, and amplify sound and visual content. It plays a vital role in presentations, events, entertainment, education, and communication.

The main types of AV hardware are equipment, digital signal management (DSM), and cables and connectors. AV equipment consists of various electronic devices and tools for creating, transmitting, and managing audio and visual content. These devices are sold through direct and distributor channels, catering to a wide range of professional and consumer applications.

The audio visual hardware market research report is one of a series of new reports that provides audio visual hardware market statistics, including audio visual hardware industry global market size, regional shares, competitors with an audio visual hardware market share, detailed audio visual hardware market segments, market trends and opportunities, and any further data you may need to thrive in the audio visual hardware industry. This audiovisual hardware market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The audio visual hardware market consists of revenues earned by entities by providing services such as video presentation, audio amplification and distribution, video conferencing, and interactive collaboration. The market value includes the value of related goods sold by the service provider or included within the service offering. The audio-visual hardware also includes sales of projectors, microphones, cameras, interactive whiteboards, and control systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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