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DUBLIN--( BUSINESS WIRE)-- The "Audio Equipment Market Opportunities and Strategies to 2034" report has actually been contributed to ResearchAndMarkets.com's offering.
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The international audio equipment market reached a value of almost $64.42 billion in 2024, having actually grown at a compound annual development rate (CAGR) of 5.27% given that 2019. The marketplace is anticipated to grow from $64.42 billion in 2024 to $77.81 billion in 2029 at a rate of 3.85%. The marketplace is then expected to grow at a CAGR of 3.11% from 2029 and reach $90.71 billion in 2034.
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This report explains and discusses the audio equipment market and covers 2019-2024, called the historical duration, and 2024-2029, 2034F termed the projection duration. The report evaluates the market throughout each area and for the major economies within each area.
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Growth in the historic duration resulted from the growing demand from automobile market, increasing popularity of music streaming services, growth of video gaming market and development of the film and media market. Factors that negatively affected development in the historic duration were high import tariffs and increasing labor costs. Moving forward, increasing popularity of mobile phones, growth of smart homes, increasing social networks impact and boost e-commerce penetration. Factor that could prevent the growth of the audio equipment market in the future include regulatory compliance and energy intake concerns.
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Asia-Pacific was the biggest area in the audio devices market, representing 30.82% or $19.85 billion of the total in 2024. It was followed by North America, Western Europe and after that the other regions. Moving forward, the fastest-growing areas in the audio equipment market will be Middle East and Africa where development will be at CAGRs of 10.70% and 9.03% respectively. These will be followed by South America and Eastern Europe where the markets are anticipated to grow at CAGRs of 7.74% and 3.82% respectively.
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The international audio market is relatively fragmented, with a large number of little gamers running in the market. The top 10 rivals in the market made up to 22.52% of the overall market in 2023. Apple Inc. was the largest rival with a 6.45% share of the market, followed by Sony Corp. with 4.64%, Samsung Electronics Co., Ltd. (Harman International). with 2.68%, Sonos, Inc. with 2.55%, Xiaomi Corporation. with 2.06%, Panasonic Corporation. with 1.52%, Bose Corporation with 0.79%, Koninklijke Philips N.V. with 0.71%, Huawei Technologies Co., Ltd. with 0.61% and Pioneer Corporation. with 0.51%.
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The audio devices market is segmented by type into loudspeakers, microphones, amplifiers, turntables and other types. The speakers market was the biggest sector of the audio equipment market segmented by type, representing 45.52% or $29.32 billion of the overall in 2024. Moving forward, the speakers section is anticipated to be the fastest growing sector in the audio equipment market segmented by type, at a CAGR of 3.93% during 2024-2029.
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The audio devices market is segmented by technology into wired and cordless. The cordless market was the largest sector of the audio equipment market segmented by technology, representing 63.19% or $40.7 billion of the overall in 2024. Moving forward, the cordless segment is anticipated to be the fastest growing segment in the audio equipment market segmented by technology, at a CAGR of 4.20% throughout 2024-2029.
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The audio equipment market is segmented by end-user into B2B and B2C. The B2B market was the biggest segment of the audio devices market segmented by end-user, accounting for 54.61% or $35.18 billion of the total in 2024. Moving forward, the B2C sector is anticipated to be the fastest growing section in the audio devices market segmented by end-user, at a CAGR of 4.28% throughout 2024-2029.
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The top chances in the audio devices market segmented by type will occur in the speakers section, which will get $6.24 billion of international annual sales by 2029. The top opportunities in the audio equipment market segmented by innovation will emerge in the wireless segment, which will get $9.3 billion of worldwide yearly sales by 2029. The leading chances in the audio equipment market segmented by end-user will occur in the B2C segment, which will gain $6.82 billion of worldwide yearly sales by 2029. The audio devices market size will get the most in the USA at $1.37 billion.
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Market-trend-based strategies for the audio equipment market include developing sophisticated audio/video (AV) receivers and speakers, adopting tactical collaborations approach to establish sophisticated audio services, establishing next generation wise amplifiers, developing innovative home audio systems, developing innovative studio earphones and tactical investments to improve the sound quality, AI-driven audio processing and smart connection.
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To take advantage of the chances, the analyst advises the audio devices to concentrate on wise home AV receivers and speakers, concentrate on wise amplifiers for mobile phones, concentrate on high-fidelity studio earphones for professionals and audiophiles, focus on speakers for continual market development, focus on wired [audio](https://www.zycoo.com/coovox/) equipment for strong development, broaden in emerging markets, continue to focus on developed markets, concentrate on strategic partnerships to drive innovation, offer competitively priced offerings, concentrate on targeted digital marketing, continue to utilize B2B promotions and focus on B2B market growth.
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Major Market Trends
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- Next-Generation Loudspeakers Delivering Crystal-Clear Sound +- Strategic Partnerships Driving Innovation in Audio Technology +- Advancements in Smart Amplifiers for Superior Audio Quality +- Advancements in Home [Audio](https://www.zycoo.com/) for Enhanced Sound Quality and Connectivity +- Next-Generation Studio Headphones for Audiophiles and Professionals
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- Apple Inc. +- Sony Corp. +- Samsung Electronics Co., Ltd. (Harman International). +- Sonos, Inc. +- Xiaomi Corporation. +- Panasonic Corporation. +- Bose Corporation. +- Koninklijke Philips N.V. +- Huawei Technologies Co., Ltd. +- Pioneer Corporation. +- LG Electronics. +- Nakamichi Corp., Ltd. +- Yamaha Corporation. +- Goodix Technology. +- Alpine Electronics, Inc. +- Kenwood Corporation. +- NXP Semiconductors. +- Creative Technology Ltd. +- Edifier Technology Co. Ltd. +- JVCKenwood Corporation. +- Akai. +- Intex Technologies. +- Vistron (Dong Guan) Audio Equipment Co., Ltd. +- Imagine Marketing India Private Limited. +- Dixon Technologies. +- Rode Microphones. +- Roland Corporation. +- Shure. +- MIPRO Electronics Co., Ltd. +- Honor Device Co., Ltd. +- V2 Indonesia. +- Sonido Musica Indonesia. +- TOA Electronics Vietnam Co., Ltd. +- QSC Audio Products. +- Hyundai Mobis. +- Hisense Group Co., Ltd. +- KEF. +- TEAC Corporation. +- Onkyo Corporation. +- Krell Industries. +- Behringer. +- Allen & Heath. +- Blaupunkt GmbH. +- Bowers and Wilkins. +- Sennheiser Electronic GmbH & Co. +KG.- Dolby Laboratories, Inc. +- AKG Acoustics GmbH. +- Dynaudio A/S. +- Voxx International. +- IRIS Audio Technologies. +- USound GmbH. +- Steinway Lyngdorf. +- Xavian Electronics. +- RDacoustic. +- AudioMaster CZ. +- KV2 [Audio](https://www.linkedin.com/company/zycoo-co-ltd/). +- Polsound. +- HEM. +- Dreamaudio. +- Wilson Benesch. +- Meze Audio. +- JBL. +- VIZIO. +- McIntosh Group. +- Roon. +- Poly Inc. +- HP Inc. +- Audeze. +- Koss Corporation. +- Antelope Audio. +- Paradigm Electronics. +- Fluance. +- Gradiente. +- Audio Americas. +- Aiwa. +- NEXO. +- Kramer Electronics
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To find out more about this report go to https://www.researchandmarkets.com/r/ykallo
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About ResearchAndMarkets.com
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