Worldwide Video Equipment Industry to 2030 - Key Players Include Bose, LG Electronics and Sony Among Others
DUBLIN, July 30, 2021 /PRNewswire/ -- The "Video Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global video equipment market as it emerges from the COVID-19 shut down.
The global video equipment market is expected to grow from $90.61 billion in 2020 to $109.8 billion in 2021 at a compound annual growth rate (CAGR) of 21.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $125.37 billion in 2025 at a CAGR of 3%.
Where is the largest and fastest growing market for the video equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Video Equipment market global report answers all these questions and many more.
The video equipment market consists of sales of video equipment and related services that are used in various applications such as residential and commercial purposes. Video equipment include televisions, video cameras, Blue-ray players, and video cassette recorders.
The rise in disposable incomes was a major driver for the video equipment market. The rise in disposable incomes was mainly driven by economic growth and middle-class population growth in developing countries such as China, India and Brazil. According to the World bank, the per capita net disposal income of lower middle-income countries is expected to be in between $1,036 and $4,045 and per capita net disposal income of upper middle-income countries is expected to be in between $4,046 and $12,535 in 2021. Increased earnings greatly increased disposable incomes in the emerging markets, increasing the demand for consumer electronics products such as televisions and home theatre systems.
The changes in consumer lifestyles and preferences had a significant impact on the video equipment market. With increasing smartphone and internet penetration and advances in social media and digital technologies, consumers shifted from traditional television to new forms of entertainment such as online video streaming services on mobile phones. Television viewership continued to decline, especially among the millennial. As a whole, 18-34-year-olds spent viewing traditional TV (live and time-shifted) in Q1 2020 fell by around 15.3% from 2019. Changes in consumer preferences restricted the demand for video equipment.
The video equipment market covered in this report is segmented by product type into television, video cameras, and video players and by end use industry into B2B and B2C.
The demand for Ultra HD televisions is increasing rapidly, as they are energy efficient and offer high quality images. Ultra HD televisions include 4K and 8K UHDs that have an aspect ratio of 16:9 or wider, and also present a minimum resolution of 3840x2160 pixels. The transition from traditional CRT and LCD TVs to ultra HD TVs has been fast owing to brisk pace in technological advances. For instance, in 2019, worldwide sales of 4K ultra-high-definition televisions reached 100 million units, thus, indicating high demand for ultra HD 4k and 8k televisions.
In February 2019, GN Group, a Danish based Electrical & Electronic Manufacturing company acquired Altia Systems for $125 million. Through this acquisition GN Group is aiming to improve the quality of audio and video communications over digital networks. Altia Systems, a venture-backed company based in Cupertino.
Key Topics Covered:
1. Executive Summary
2. Video Equipment Market Characteristics
3. Video Equipment Market Trends and Strategies
4. Impact of COVID-19 on Video Equipment
5. Video Equipment Market Size and Growth
5.1. Global Video Equipment Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Video Equipment Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Video Equipment Market Segmentation
7. Video Equipment Market Regional and Country Analysis
8. Asia-Pacific Video Equipment Market
9. China Video Equipment Market
10. India Video Equipment Market
11. Japan Video Equipment Market
12. Australia Video Equipment Market
13. Indonesia Video Equipment Market
14. South Korea Video Equipment Market
15. Western Europe Video Equipment Market
16. UK Video Equipment Market
17. Germany Video Equipment Market
18. France Video Equipment Market
19. Eastern Europe Video Equipment Market
20. Russia Video Equipment Market
21. North America Video Equipment Market
22. USA Video Equipment Market
23. South America Video Equipment Market
24. Brazil Video Equipment Market
25. Middle East Video Equipment Market
26. Africa Video Equipment Market
27. Video Equipment Market Competitive Landscape and Company Profiles
Research and Markets
SOURCE Research and Markets
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