NEW YORK, March 14, 2022 /PRNewswire/-- The AV Receiver Market Size, Growth driven by rapid advancements in home audio technology, rising demand for high-quality audio systems, increasing integration of Wi-Fi, Bluetooth, and Airplay. The Channel 7 segment accounted for the highest share in the global market and expected to grow with the highest CAGR during 2021-2028 owing to rise in adoption of the same form the residential sector for connecting several in home entertainment solutions like home theaters and gaming consoles.
The Insight Partners published latest research study on "AV Receiver Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Channel (channel 5, channel 7, channel 9, and others) Application (Residential and commercial)", the global AV Receiver Market is projected to reach $2.61 Bn by 2028 from $1.99 Bn in 2021; it is expected to grow at a CAGR of 3.9% from 2021 to 2028.
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Report Coverage | Details |
Market Size Value in | US$ 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 |
AV Receiver Market: Competitive Landscape and Key Developments
Yamaha Corporation, Sony Corporation, Onkyo Corporation, Amthem, and Arcam are among the key players operating in the AV receiver market. In addition, several other essential market players were studied and analyzed to get a holistic view of the market and its ecosystem.
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In 2021, Sony Corporation introduced its new XAV-AX3200 vehicle AV media receiver. It also enables smart connections to improve the in-car entertainment experience to its customers.
In 2021, Yamaha Corporation launched two new AV receivers in India for residential sector applications.
An AV receiver is a consumer electronics device that receives and amplifies an audio signal so that it can drive speakers and screens in a home theatre. A receiver serves as the hub for a home theatre system's audio and video connections. Since the development of home entertainment, the receiver's role has grown. A variety of digital audio streams can be handled by today's AV receivers. The connectivity, power, video processing, decoders and formats, audio features, and integration capabilities of AV receiver devices on the market differ. Some of the major factors of difference between AV receiver devices offered by different vendors in the market include the number of HDMI inputs, signal-to-noise ratio (S/N ratio), power output, sound quality, channels, surround sound, and connectivity with other devices. Vendors are also including features like Bluetooth, built-in Airplay, Wi-Fi, and, as well as Audyssey Multi EQ, Dolby Digital, DTS - HD, upscaling, 4K Resolution, and 3-D compatible AV receivers.
For efficient sound quality & sound distribution of smart TVs, home theaters, and projectors, consumers adopt the AV receivers. Manufacturers are also constantly developing their products with new technology for higher adoption to cater to AV receiver market demand that includes customized products also. However, AV receivers are highly-priced compared to the buying capacity of consumers across countries such as Brazil, South Africa, Mexico, and India. The retail price of the AV receivers with advanced technology ranges from US$ 2,000 to 6,000. Thus, the high pricing of the advanced AV receivers restricts their adoption among developing and under-developed countries and restrains the market growth.
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The major requirement for gaming receivers includes lag reduction, multiple number of channels, easy connectivity, and high quality. With the rising number of live gaming streamers across the globe, the A/V receiver manufacturers are increasingly focusing their product development to cater to this sector.
Denon for instance developed AVR-X3700H which is compatible for modern home theaters. With dynamic HDR and HDR10, complete support for 3D content, and both 8K and 4K pass-throughs, it supports the most cutting-edge visual technology. Similarly, the Onkyo TX-NR696 provides excellent sound and a wide range of connectivity, including support for 4K/120Hz gaming consoles. Thus, the rising investment by the AV receiver manufacturers to develop AV receivers compatible with gaming consoles is expected to contribute to the AV receiver market growth over the forecast period.
AV Receiver Market: Application Overview
Based on application, the AV receiver market is bifurcated into residential and commercial. The residential segment accounted for a larger share in 2020 in the market. The rising trend of smart homes in developed urban areas and in developing nations is driving the market growth. Smart homes have built-in Bluetooth speakers to stream music through PCs and smartphones. Moreover, the rising disposable income in emerging nations is fostering the demand for home theaters in the residential sector, which is propelling the growth of the AV receiver market.
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The COVID-19 pandemic led to the disruptions of various industries, such as automotive and manufacturing. To combat the spread of the novel coronavirus, several government initiatives, such as travel restrictions and social distancing, have led to the temporary closure of manufacturing units of the production plants or production with the less capacity of labor, which adversely impacted the AV receiver market in Q1 and Q2 of 2020. However, with the normalization of economic activities, high vaccination drives, and reduction in COVID-19 cases across the globe, the plants started operating in full swing from Q3 of 2020, thereby reducing the impact of the COVID-19 pandemic.
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