The demand for smart TVs is being driven by the rising consumer preference for built-in smart functions in personal devices, and increasing internet penetration. A smart TV combines the features of televisions and computers, and comprises a television set with integrated functions for internet use. Smart TV users are also offered direct access to streaming services such as Netflix and Amazon Prime Instant Video. To capitalize on this trend, television manufacturers across the world are entering the smart TV market. According to the IHS Technology report, 48.5% of televisions shipped globally were smart TVs and the number is estimated to reach 134 million by 2020.
AUDIO AND VIDEO EQUIPMENT MANUFACTURING MARKET TO GROW TO $351 BILLION BY 2020 ACCORDING TO THE BUSINESS RESEARCH COMPANY.
The Business Research Company expects the audio and video equipment manufacturing market to grow to $351 billion in 2020. Asia Pacific was the largest region in the audio and video equipment manufacturing market in 2016, accounting for $177 billion or 61.1% market share.
The chart below shows the year-on-year growth of the global audio and video equipment manufacturing market during 2016 – 2020.
According to The Business Research Company’s Electronics Consultant, Sindhu Kanuri, companies in the video equipment manufacturing industry are manufacturing closed circuit television cameras with motion detection technology. Motion detecting CCTV camera detects any motion of objects in its field of view and raises an alarm in case of an intrusion. These cameras consume less energy as they get activated and begin recording only when there is a movement of object in its field of view. This feature offers effective surveillance of an area at low costs. Major companies manufacturing motion detecting CCTV cameras include Sony, Samsung, Honeywell, Panasonic and others.
Samsung Electronics Co. Ltd was the largest competitor in the audio and video equipment manufacturing market in 2016 with revenue of $30 billion for the financial year 2015 from audio and video equipment manufacturing division. Samsung’s growth strategy is to produce innovative audio video technologies through research and development and company acquisitions.
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.
The audio and video equipment manufacturing industry includes the following:
Audio Equipment Manufacturing comprise establishments producing electronic audio equipment including speakers, stereos, jukeboxes and microphones.
Video Equipment Manufacturing include companies producing electronic video equipment including televisions, video cameras, video cassette recorders and video cameras.
Audio And Video Equipment Manufacturing Market Briefing is a detailed report giving a unique insight into this market. The report is priced at $1000 for an individual user. To use across your office the price is $1500 and $2000 if you wish to use across a multinational company.
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