The increase in disposable income of people all over the world is leading to an increase in spending on home theaters in the residential sector. Additionally, the popularity of smart systems has steadily increased, enabling more efficient wireless connections between devices. To meet consumer demand, modern home cinema receiver manufacturers are integrating a variety of advanced technologies into their products, such as 8K video, Dolby Atmos, Wi-Fi music streaming, and high-quality audio.
Consumers have widely embraced AV receivers that deliver high-quality sound for smart TVs, home theaters and projectors. As a result, manufacturers are constantly incorporating new technologies into their products. However, AV receivers with advanced features are expensive, ranging from $2,000 to $6,000, making them difficult for many consumers in developing and less developed countries such as Brazil, South Africa, Mexico, and India. As a result, the high price of high-end AV receivers limits their adoption in these regions.
Impact of the COVID-19 Pandemic on the AV Receiver Market
As a result of the COVID-19 pandemic, manufacturing facilities around the world have been forced to temporarily close to contain the spread of the virus. This has resulted in reduced capacity, reduced production and loss of manufacturing. As a result, the demand for AV receivers in the North American automotive segment has declined. However, closures of various activities and venues have increased the demand for home theaters across the globe, which has positively impacted the demand for AV receivers in the residential sector. This has created a gap between supply and demand, which has reduced overall sales in 2020. Nonetheless, the market began to recover in Q3 2020 as economic activity returned to normal and supply chains resumed.
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The global AV receiver market has been segmented into five major regions: North America, Europe, APAC, Middle East & Africa, and South America. APAC is expected to register the highest CAGR during the forecast period. Over the years, North America has experienced an increase in professional gamers engaging in continuous live streaming, which is fueling demand for home theaters and receivers for efficient sound and video effects. In addition, the United States and Canada have high personal purchasing power, which is influencing the demand for AV receivers for efficient surround sound in home theaters.
Sony Corporation, Marantz, Onkyo, Yamaha Corporation, and Anthem AV are some of the players operating in the AV receiver market.
The size of the AV receiver market was determined using both primary and secondary research methods. The research process began with a comprehensive secondary survey from internal and external sources to gather qualitative and quantitative information on market size. This process was also used to obtain an overview and forecast of the market for all market segments. We also conducted numerous primary interviews with industry experts and commentators to verify our data and gain further analytical insights on the subject matter. The process included VPs, business development managers, market intelligence managers, national sales managers, external consultants, valuation experts, research analysts, and key opinion leaders specializing in the AV receiver market.
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