Global AV Receiver Market Forecast Report 2021-2022 & 2028: Increasing Technology Integration Such as Wi-Fi, Bluetooth, and Airplay - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "AV Receiver Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Channel Application." report has been added to ResearchAndMarkets.com's offering.

The AV Receiver Market is projected to reach US$ 2,616.44 million by 2028 from US$ 1,999.88 million in 2021; it is expected to grow at a CAGR of 3.9% from 2021 to 2028.

The increasing disposable income of the global population influences the spending on home theaters from the residential sector. Moreover, smart systems have experienced a rise over the years for efficient and wireless connectivity of devices.

Manufacturers of modern home cinema receivers are integrating a range of technologies, such as 8K video, Dolby Atmos, Wi-Fi music streaming, and high-quality audio with their product offerings.

The AV receiver has been highly adopted among consumers for efficient sound quality for their smart TVs, home theaters, and projectors.

Therefore, manufacturers are also constantly developing products with new technology integration. However, AV receivers are highly priced compared to the buying capacity of consumers across countries, such as Brazil, South Africa, Mexico, and India. The retail price of the AV receivers with integrated advanced technology ranges from US$ 2,000-US$ 6,000.

Thus, the high pricing of the advanced AV receivers by the manufacturers restricts the adoption of the same among the developing and under-developed countries.

Impact of COVID-19 Pandemic on AV Receiver Market

Due to the COVID-19 outbreak, the manufacturing units worldwide were temporarily closed to combat the rapid spread of the novel coronavirus.

The manufacturing sector experienced a notable loss due to temporary factory shutdowns and low production volumes, which hindered the production capacities of the automotive sectors across the North America region, thereby decreasing the demand for AV receivers from the sector.

However, owing to the shutdown of all major places and activities, the demand for home theaters experienced a rise across the world, thereby positively impacting the demand for AV receivers from the residential sector. This created a supply and demand gap in the market, leading to a decrease in the overall revenue in 2020.

However, during the Q3 of 2020, with the normalization of economic activities across the world, the supply chain resumed its operations to initiate the market recovery.

APAC is expected to register the highest CAGR during the forecast period. Over the years, North America has experienced a rise in professional gamers engaged in constant live streaming, which is propelling the demand for home theaters and receivers for efficient sound and video effects.

Additionally, the US and Canada have individuals with high purchasing power, influencing the demand for AV receivers for efficient surround sound of their home theaters.

Sony Corporation, Marantz, Onkyo, Yamaha Corporation, and Anthem AV are among the players operating in the AV receiver market.

Key Industry Dynamics

Market Drivers

• Rising Adoption of Smart TVs, and Home Theaters
• Rising Investment in Product Developments by Major Players

Market Restraints

• Limited Adoption Across Developing and Under-Developed Countries

Future Trends

• Increasing Technology Integration such as Wi-Fi, Bluetooth, and Airplay

Company Profiles

• Arcam
• LG Electronics
• Marantz
• Pyle Audio
• Yamaha Corporation
• Sony Corporation
• Onkyo Corporation
• NAD Electronics
• Anthem
• Audio Control Inc.

For more information about this report visit https://www.researchandmarkets.com/r/ex1qyh.