AV Receiver Market Size Worth US$ 2,616.44 million By 2028 | CAGR 3.9%: The Insight Partners

The Insight Partners

The Insight Partners

Increasing Integration of Wi-Fi, Bluetooth, and Airplay to Propel AV Receiver Market Growth during 2021–2028

NEW YORK, UNITED STATES, March 21, 2022 /EINPresswire.com/ -- The Insight Partners published the latest research study on "AV Receiver Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Channel and Application," the market is expected to grow from US$ 1,999.88 million in 2021 to US$ 2,616.44 million by 2028; it is estimated to grow at a CAGR of 3.9% from 2021 to 2028.

Strategic Insights

Report Coverage              Details

Market Size Value in       US$ 1,999.88 million in 2021

Market Size Value by     US$ 2,616.44 million by 2028

Growth rate       CAGR of 3.9% from 2021 to 2028

Forecast Period 2021-2028

Base Year            2021

No. of Pages      138

No. Tables           56

No. of Charts & Figures 72

Historical data available Yes

Segments covered          Channel and Application

Regional scope  North America; Europe; Asia Pacific; Latin America; MEA

Country scope   US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage              Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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The increasing disposable income of the global population is influencing the rise in spending on home theaters from the residential sector. However, smart systems have experienced a rise over the years for efficient and wireless connectivity of devices. The 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. For instance, the Yamaha RX-V6A offers a fresh design with easy control panels and optimum sound quality. The system is integrated with the latest connectivity technologies such as Wi-Fi, AirPlay 2, Spotify, Bluetooth, and Yamaha's MusicCast system for efficient and hassle-free streaming from any device. Similarly, the Onkyo TX-NR6100 also offers a wide streaming selection format to its uses such as Chromecast built-in, DTS Play-Fi, Spotify, AirPlay, and Bluetooth. The rising demand for wireless connectivity for audio/video receivers is influencing the demand for wireless technology integrated systems, thereby influencing the AV receiver market growth.

Impact of COVID-19 Pandemic on AV Receiver Market Growth

The European automotive industry was severely hit and experienced a decline of more than 20% in overall automotive production due to severe supply chain disruption caused by imposed lockdowns, thereby lowing the growth for the AV receiver market across the automotive sector in Europe. However, the residential segment experienced a rise in demand in European countries. On the other side, the demand could not be fulfilled owing to e-commerce operation and retail outlet closures. These factors negatively impacted the AV receiver market growth. The COVID-19 pandemic has compelled manufacturers to streamline their production processes to tackle unexpected disruption and resolve uncertain challenges, like physical distancing. Considering increasing vaccination drives, demand for AV receivers is recovering from the Q3 of 2020 with companies investing in making operations efficient and productive.

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Channel-Based Insights

Based on channel, the global AV Receiver market is sub-segmented into channel 5, channel 7, channel 9, and others. The Channel 7 segment accounted for the highest share in the global AV receiver market and is also expected to grow with the highest CAGR over the forecast period owing to the rise in adoption of the same form the residential sector for connecting several in-home entertainment solutions like home theaters and gaming consoles.

Based on application, the AV receiver market is segmented into residential and commercial. The residential segment accounted for the highest share of the global AV receiver market in 2020, and it is also expected to grow with the fastest CAGR over the forecast period. This growth is owing to the rising investment by the manufacturers to develop several product offerings based on customer requirements and offer customized systems for their living rooms and apartments.

AV Receiver Market: Competitive Landscape and Key Developments

Arcam, LG Electronics, Marantz, Pyle Audio, Yamaha Corporation, Sony Corporation, Onkyo Corporation, NAD Electronics, Anthem, and Audio Control Inc. are among the key players in the AV receiver market. In addition, several other essential market players were studied and analyzed during the course of this study to get a holistic view of the market and its ecosystem.

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In January 2021, Yamaha Music India Pvt. Ltd. launched two new A/V receivers for the Indian market. The RX-V6A and RX V4A audio/video receivers were launched by the company which supports 8K, HDMI 2.1, and HDR10+. The RX-V4A model supports 5 channels, whereas the RX-V6A model supports 7 channels.

In November 2020, Anthem Inc., introduced its all-new MRX 540, 740, and 1140 A/V Receivers, AVM 70 and 90 A/V Processors, and MCA 225, 325, and 525 Power Amplifiers. These new enhancements, which include industry-leading room correction, professional management of the newest audio formats, and strong integration, will enable the company to continue setting the standard for excellent performance in a budget-friendly manner.

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