Pro Audio Equipment Market -Market Size, Share & Industry Trends, Growth Analysis Report by Product Type, By Consumption and Forecast 2021 – 2031
Pro Audio Equipment Market by Type (Wireless Microphones, Conference System, Mixers, Wired Microphones), Application (Pro-Audio and Consumer), and Regions, The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031
The pro audio equipment market size was valued at USD 20 billion in 2021 and is expected to surpass USD 25 billion by 2031, expanding at a CAGR of 5.6 % during the forecast period, 2021–2031. The market's growth is attributed to the increasing demand for pro audio equipment from the consumer segment, and the rising demand for conference systems in the corporate sector.
Professional audio equipment abbreviated as pro audio equipment comprises quality studio-grade audio equipment. The pro audio equipment devices are used for functions such as sound recording, sound reinforcement systems, sound engineers, and overall music production by record producers. Pro audio equipment including speakers, amplifiers, monitors, microphones, and others are used for various purposes like motor vehicles, television studios, movie theatres, public address systems, radio broadcast stations, and others. They are used for personal and professional use.
Market Trends, Drivers, Restraints, and Opportunities
Scope of the Report
|Report Title||Pro Audio Equipment Market - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast|
|Segmentation||Type (Wireless Microphones, Conference System, Mixers, Wired Microphones), Application (Pro-Audio and Consumer)|
|Regional Scope||The Asia Pacific, Middle East Africa, Europe, North America, and Latin America|
|Report Coverage||Market Analysis Company Share & Size, Growth Factors, Trends, Competitive Landscape, Trends, and Revenue Forecast|
|Key Players Covered in the Report||Yamaha Corporation (Japan); Casio Computer Co., Ltd. (Japan); C.F.Martin & Company (U.S.); Gibson Brands (U.S.); KORG Inc (Japan); Harman International (U.S.); Fender Musical Instruments (U.S.).|
Market Segment Insights
The wireless microphones segment is projected to register a considerable CAGR
Based on type, the pro audio equipment market is divided into conference systems, mixers, and wireless microphones. The wired & wireless segment is expected to expand rapidly during the forecast period due to its growing popularity among consumers and professionals alike due to its portability and ease of use.
The consumer segment is expected to expand at a rapid pace
Based on application, the pro audio equipment market is divided into pro-audio and consumer. The consumer segment is expected to expand at a rapid pace during the forecast period. The segment's growth is attributed to the increase in the use of audio equipment in laptops, smartphones, tablets, and other electronic devices and live streaming on social media platforms such as Instagram and YouTube. The audio port on these devices allows users to connect pro audio products such as mixers, conference systems, and microphones.
The North American region is anticipated to constitute a key market share
In terms of regions, the pro audio equipment market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of the North American region is expected to constitute a key share of the market and it is anticipated to dominate the market in the forecast period. The rising number of live concerts held across the countries like Canada and the U.S and the increasing demand for high-quality sound systems are the key factors that are attributed to the growth of the market. However, the market of Europe is anticipated to contribute significantly towards market growth which is attributed to the growing popularity of music, corporate, festivals, sports event, and political conferences in the region.
Key players competing in the pro audio equipment market are Yamaha Corporation (Japan); Casio Computer Co., Ltd. (Japan); C.F.Martin & Company (U.S.); Gibson Brands (U.S.); KORG Inc (Japan); Harman International (U.S.); Fender Musical Instruments (U.S.).
How much is the market worth?
The pro audio equipment market size was valued at USD 20 billion in 2021 and is expected to surpass USD 25 billion by 2031.
During the forecast period, what is the CAGR of the market?
During the forecast period, the CAGR of the market is expected to be 5.6%.
What are the key drivers of the market?
The market's growth is attributed to the increasing demand for pro audio equipment from the consumer segment, and the rising demand for conference systems in the corporate sector.
Mention which region is expected to hold the highest share of the pro audio equipment market.
The North American region is expected to hold the highest share of the pro audio equipment market.
Which segment holds the largest market share in pro audio equipment by 2031?
The wireless microphone segment holds the largest market share in the pro audio equipment by 2031.
1 INTRODUCTION TO PRO AUDIO EQUIPMENT MARKET
1.1 Overview of the Market
1.2 Scope of Report
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF WISH TREE INSIGHTS
3.1 Data Mining
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL PRO AUDIO EQUIPMENT MARKET OUTLOOK
4.2 Market Dynamics
4.3 Value Chain Analysis
5 GLOBAL PRO AUDIO EQUIPMENT MARKET, BY TYPE
5.2 Wireless Microphones
5.3 Conference System
5.5 Wired Microphones
6 GLOBAL PRO AUDIO EQUIPMENT MARKET, APPLICATION
7 GLOBAL PRO AUDIO EQUIPMENT MARKET, BY GEOGRAPHY
7.2 North America
7.3.4 Rest of Europe
7.4 The Asia Pacific
7.4.4 Rest of Asia Pacific
7.5 Rest of the World
7.5.1 Latin America
7.5.2 The Middle East & Africa
8 GLOBAL PRO AUDIO EQUIPMENT MARKET COMPETITIVE LANDSCAPE
8.2 Company Market Ranking
8.3 Key Development Strategies
9 COMPANY PROFILES
9.1 Yamaha Corporation (Japan)
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments
9.2 Casio Computer Co., Ltd. (Japan)
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments
9.3 C.F.Martin & Company (U.S.)
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments
9.4 Gibson Brands (U.S.)
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments
9.5 KORG Inc (Japan)
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments
9.6 Harman International (U.S.)
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Developments
9.7 Fender Musical Instruments (U.S.)
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments
10.1 Related Research
Segments Covered in the Report
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