Global Karaoke Market Research Report Forecast to 2024
Karaoke Market Research Report - Global Forecast till 2024
Global Karaoke Market: Information by Type (All-in-One System, Built-In Microphone System, TV Monitor System and MP3 System), Application (Household and Commercial) and Region (North America, Europe, South America, Japan, China, Africa, India, South-East Asia, Middle East and Rest of the World) - Forecast till 2024
The Japanese karaoke market is projected to be the biggest during the forecast period. In the year 2018 the region was responsible for 52.58% of the total market share. The exhibited highest CAGR during the forecast period is the Japanese Karaoke Market. Karaoke gained global acceptance from Japan as it was first developed there itself. Karaoke is a popular social activity among the Japanese population which is driving the growth of the market in the region. In the year 2018, The European karaoke market held a substantial market share. The rising adoption of karaoke systems in pubs and bars in the region is anticipated to improve the growth of the European karaoke market. The Global Karaoke Market is expected to register a CAGR of 2.52% to reach USD 5,733.77 Million by 2024.The lyrics of the song are flashed on a video screen and images, changing colors, and symbols guide the singer during the performance. A singer uses a karaoke machine to perform with prerecorded music with a microphone. Irrespective of social status, the popularity of karaoke culture is increasing among the global population as it offers a stage to showcase talent and is used to unwind. Due to this the global karaoke market is driving the market and is expected to register moderate growth during the forecast period. Many non-professional singers exhibit their talent, through karaoke. There is an increase in the number of karaoke competitions across the world as many of the people are inclined towards music and they are getting a better platform through Karaoke. Furthermore, the expanding number of bars and restaurants offering karaoke is enhancing the growth of the market. However, the rising adoption of karaoke apps is hindering the growth of the karaoke market, globally. The all-in-one system segment is expected to be the largest, registering the highest CAGR to reach USD 2,667.11 Million by the end of 2024. Microphones, mixing amplifier, speakers, a karaoke player, speaker stands, DJ LEDs, and visual display are included into complete karaoke system. All-in-one systems provide convenience to the users of a complete set-up, which is driving the growth of the segment. This segment is also projected to be the fastest growing during the forecast period.
Global Karaoke Market has been segmented on the basis of type, application and by region. On the basis of region, the Global Karaoke Market has been segmented into All-in-One System, Built-In Microphone System, TV Monitor System and MP3 System. On the basis of application, the market has been sub-divided into Household and Commercial. On the basis of region, the market has been segmented into various regions like Japan, Europe, China, North America, South America, South-East Asia, Middle East, India, Africa and Rest of the World
Geographically the Global Karaoke Market has been analyzed in the regions like Japan, Europe, China, North America, South America, South-East Asia, Middle East, India, Africa and Rest of the World.
Electrohome Ltd. (Canada), Karaoke USA (USPure Acoustics, Inc. (US), Platinum Karaoke (Philippines), and Audio Video Solutions Corporation (Philippines) DAIICHIKOSHO CO., LTD. (Japan), Memorex (US), ), VocoPro (US), Ion Audio LLC (US), The Singing Machine Company are some of the major players of the Global Karaoke Market, Onkyo & Pioneer Corporation (Japan)
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook