(Entertainment-NewsWire.com, December 03, 2018 ) The audio and video equipment manufacturing market comprises establishments producing electronic audio and video equipment for home entertainment, musical instrument amplification, motor vehicles, and public address systems. Audio and video equipment products include televisions, speaker systems, video cassette recorders, stereo equipment, household-type video cameras, jukeboxes, and amplifiers for musical instruments and public address systems. Order the audio video equipment industry report at: https://www.thebusinessresearchcompany.com/report/audio-and-video-equipment-manufacturing-global-market-report-2018
The global audio and video equipment manufacturing market size has been growing in the past years with a CAGR of almost 5%. Asia Pacific was the largest region in the audio and video equipment manufacturing market in 2017, accounting for more than 60% market share. TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims. The report also shows the global audio and video equipment manufacturing market to grow at a higher CAGR by 2021 as compared to 2017.
Vinyl record players are witnessing rapid growth due to rising popularity of physical music formats among millennials’ and youngsters. A vinyl is an analog sound storage medium that requires a gramophone or turntable to play music. Also, the deaths of some famous celebrities in the music industry drove vinyl sales as people invested in records as mementos. According to RIAA (Recording Industry Association Of America), sales of vinyl records grew by 32% to $416 million in 2015, thus indicating high demand for vinyl record players. Top companies in the audio and video equipment manufacturing industry included in the report are Samsung, Sony and LG Electronics. About The Business Research Company: The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.
