Audio & Video Equipment Manufacturing
Description
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, tablets, smartphones, and game consoles in the consumer home entertainment market. US manufacturers of audio and video equipment face significant competition from imports, particularly from China, Mexico, Thailand and Japan.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products are audio and video equipment (about 45%), followed by commercial sound equipment (about 25%), and speakers (about 15%). Other products include automotive audio equipment and single loudspeakers mounted in an enclosure. Small companies tend to focus on being either first to market with premium-priced products offering higher functionality and performance, or being a "fast follower" with lower-priced products. Large manufacturers may follow both strategies by having multiple product lines.
Production processes include installing circuit boards and relays, soldering, bending and drilling metal and plastics for casements, assembling, painting, inspecting, and packing and shipping products. Most manufacturing operations employ fewer than 100. Raw materials include printed circuit boards (some manufacturers build their own); relay switches; sheet metal (steel and aluminum); plastics; and glass. Some major components are controlled by a few large suppliers, who may also produce their own finished products in competition with their customers.
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, tablets, smartphones, and game consoles in the consumer home entertainment market. US manufacturers of audio and video equipment face significant competition from imports, particularly from China, Mexico, Thailand and Japan.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products are audio and video equipment (about 45%), followed by commercial sound equipment (about 25%), and speakers (about 15%). Other products include automotive audio equipment and single loudspeakers mounted in an enclosure. Small companies tend to focus on being either first to market with premium-priced products offering higher functionality and performance, or being a "fast follower" with lower-priced products. Large manufacturers may follow both strategies by having multiple product lines.
Production processes include installing circuit boards and relays, soldering, bending and drilling metal and plastics for casements, assembling, painting, inspecting, and packing and shipping products. Most manufacturing operations employ fewer than 100. Raw materials include printed circuit boards (some manufacturers build their own); relay switches; sheet metal (steel and aluminum); plastics; and glass. Some major components are controlled by a few large suppliers, who may also produce their own finished products in competition with their customers.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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