Asia Pacific AV Receiver Market
The increasing disposable income of the population in APAC countries is boosting the spending on home theaters from the residential sector. Moreover, the demand for smart systems has increased over the years to ensure efficient wireless connectivity in devices. Manufacturers of receivers for modern home cinema systems are integrating a range of technologies, such as 8K video, Dolby Atmos, Wi-Fi music streaming, and high-quality audio with their product offerings.
For instance, the Yamaha RX-V6A offers a fresh design with easy control panels and optimum sound quality. The system is integrated with the latest connectivity technologies—Wi-Fi, AirPlay 2, Spotify, Bluetooth, and Yamaha's MusicCast system—for efficient and hassle-free streaming from any device. Similarly, the Onkyo TX-NR6100 offers a wide streaming selection format, such as built-in Chromecast, DTS Play-Fi, Spotify, AirPlay, and Bluetooth. The rising demand for wireless connectivity for AV receivers would influence the demand for wireless technology integrated systems, which is expected to fuel the growth of the APAC AV receiver market during the forecast period.
The limitations imposed by several governments across APAC to control the spread of COVID-19 during the initial stage of the pandemic (Q1 2020) severely affected the manufacturing sector, mainly through the availability of a limited workforce in industries such as automotive, manufacturing (including AV receiver manufacturing). Moreover, owing to job loss or salary cuts, buying capacity of customers decreased substantially across developing countries, such as India. The reduced buying power hampered the sales of electronic devices, as well as the demand for AV receivers across the region. However, as the economies re-opened and industries began their operations in the second half of 2020, the requirement for AV receivers from the residential and commercial sectors started to grow gradually. Also, with the relaxation of earlier social restrictions, companies can now work with high workforce capacity, which is contributing to the normalization of the AV receiver market in APAC.
With new features and technologies, vendors can attract new customers and expand their footprints in APAC AV receiver market. This factor is likely to drive the market at a good CAGR during the forecast period.
APAC AV receiver market is segmented into channel and application, and country. Based on channel, the global AV receiver market is sub-segmented into channel 5, channel 7, channel 9, and others. The Channel 7 segment accounted for the highest share in the APAC AV receiver market in 2020. Based on application, the AV receiver market is segmented into residential and commercial. The residential segment accounted for the highest share the APAC AV receiver market in 2020. Based on country, the APAC AV receiver market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. China held the largest market share in 2020. Arcam, LG Electronics, Marantz, NAD Electronics, Onkyo Corporation, Pyle Audio, Sony Corporation, and Yamaha Corporation are among the leading companies in the APAC AV receiver market.
Strategic insights for the Asia Pacific AV Receiver provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 741.98 Million |
| Market Size by 2028 | US$ 1,062.23 Million |
| Global CAGR (2021 - 2028) | 5.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Channel
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific AV Receiver refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Asia Pacific AV Receiver Market is valued at US$ 741.98 Million in 2021, it is projected to reach US$ 1,062.23 Million by 2028.
As per our report Asia Pacific AV Receiver Market, the market size is valued at US$ 741.98 Million in 2021, projecting it to reach US$ 1,062.23 Million by 2028. This translates to a CAGR of approximately 5.3% during the forecast period.
The Asia Pacific AV Receiver Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific AV Receiver Market report:
The Asia Pacific AV Receiver Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific AV Receiver Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific AV Receiver Market value chain can benefit from the information contained in a comprehensive market report.
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