Audio visual hardware market is anticipated to grow at a considerable CAGR of 5.9% during the forecast period (2024-2031). Audio-visual hardware is a framework in the electronic device used to create, process, transmit, or display audio and visual content. It's a broad category encompassing a wide range of equipment that allows one to see and hear information. For instance, in February 2024 Samsung Electronics launched Samsung Newsroom Kazakhstan in the Kazakh language, aiming to reach Kazakh customers interested in technology innovations. The platform will provide up-to-date information on Samsung's devices, solutions, and IT trends, as well as updates on local events and giveaways.

Market Dynamics

Increasing Demand for Immersive Experiences

Viewers are seeking more engaging and interactive AV experiences. This translates to a rise in demand for high-definition displays, virtual reality (VR) and augmented reality (AR) technologies, and advanced sound systems. AV hardware manufacturers are constantly innovating to cater to this demand. For instance, in December 2023, HARMAN International completed the acquisition of FLUX SOFTWARE ENGINEERING, incorporating FLUX's immersive, processing, and analysis solutions spanning live production, installation sound, content creation, and post-production. This acquisition expands the range of offerings from HARMAN Professional, introducing top-tier immersive technology for various applications.

Increasing E-sports and Online Gaming

The popularity of e-sports and online gaming is high demand for high-performance AV hardware. Gamers require displays with fast refresh rates, low latency, and high-resolution capabilities to create a competitive edge.For instance, in May 2022, AVer Information Inc., a provider of video conferencing visualizers for business and education technology solutions, collaborated with Yamaha to develop smart solutions that can elevate the virtual meeting experience by combining Aver’s industry-renowned USB conferencing and PTZ cameras with Yamaha’s high-quality microphones.

Market Segmentation

Our in-depth analysis of the global audio-visual hardware market includes the following segments by type, and application:

• Based on type, the market is segmented into equipment, digital signal management (DSM), and cables & connectors.

• Based on application, the market is segmented into professional, and consumer.

Equipment is Projected to Emerge as the Largest Segment

The equipment segment is expected to hold the largest share of the market. The primary factors supporting the segment's growth include equipment, digital signal management, cables, and connectors. Professional applications include video conferencing and live event production. Consumer AV hardware prioritizes affordability, user-friendliness, and features for home entertainment. The future of AV hardware is expected to see growth in both segments.Trends, such as high-resolution displays, advanced sound systems, and VR/AR integration are driving the market's demand. Manufacturers are responding with convergence, offering multi-functional devices like Smart TVs, and simplifying setups with wireless solutions.

Regional Outlook

The global audio visual hardware market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America). 

The Global Audio Visual Hardware Market Growth by Region 2024-2031

North America Holds Major Market Share

Among all the regions, North America holds a significant share owing to the presence of rising demand for Audio Visual market. This growth is driven by consumer preferences, technological advancements, and sector-specific applications, particularly in the professional segment.North America's early adoption of technologies, stringent regulations, and ongoing infrastructure upgrades have led to a significant market for AV hardware. The US houses over 2,700 data centers, requiring high-quality, durable AV equipment for efficient data transmission. This market growth supports advancements in fiber optics and smart cities. 

For instance, in June 2022, Sonos launched a compact soundbar called Sonos Ray in the US. The entry-level soundbar lacks advanced features, such as Dolby Atmos and HDMI connectivity, featured in its premium counterparts Beam and Arc.

Market Players Outlook

The major companies serving the global audio-visual hardware market include HARMAN International, LG Corporation, Samsung Electric Corporation,Solotech Inc., Sony Corporation,Switchcraft, Inc., TE Connectivity,and Wesco International, among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance,  In February 2024, AVI Systems Inc., the global expert in audio visual and unified collaboration systems integration, entered into a partnership with Audio Visual Associates (AVA) of New Jersey, marking a strategic move to enhance AVI Systems Inc.’s presence in the northeastern US. With this collaboration, AVA becomes the 32nd location for AVI Systems in the US, situated in New Jersey.

The Report Covers

• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global audio visual hardware market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.