Global Audio Production Equipment Market - Global Forecast to 2030
Audio production equipment refers to devices which generate, record, and process sound. This includes, microphones, mixers, power amplifiers, speakers, and others. Technological advancements and development in the music industry have unleashed the application of Digital Audio Workstation (DAW) among artists for the tasks of composing, recording, and mixing of music. The increasing adoption of cloud-based audio workstations and growing digitization of instruments will enhance new trend in the coming years.
The global audio production equipment market size is expected to grow from USD XX million in 2024 to USD XX million by 2030, at a CAGR of XX%. Growing trend of cloud-based services in audio workstations, increasing adoption of enhanced audio devices in automobiles are expected to be the main drivers of the market.
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Drivers: Rise of audio production equipment in automobiles
The demand for in-vehicle entertainment systems is growing at a rapid pace. The integration of Bluetooth technology, installed into a vehicle’s audio system permits easy connectivity between the user's phone and the vehicle's audio system. Similarly, chips and microprocessor used in audio system provides improved sound quality. Moreover, the transition towards Apple Car Play and Android Auto has propelled the growth of audio devices in vehicles. These systems are packed with numerous benefits such as hands-free calling, active noise cancellation system, in-cabin communication systems and others. Due to these features, demand for automobile audio equipment market is growing continuously and it is expected to increase enormously during the forecast period.
Increasing adoption of cloud-based Digital Audio Workstation (DAW)
Vendors are increasingly offering cloud-based deployment of digital audio workstation. Cloud-based workstations have many advantages such as easy integration, better scalability, cost-effectiveness, and fewer technical issues over on-premises deployment. Cloud is encouraging small scale music producing companies to utilize the digital space for recording, mixing, and processing of their music, based on subscription model. Today’s fast internet connections and cloud computing makes it possible to run a full DAW completely online.
Challenges: Privacy issues and cybersecurity threats
One challenge which is being highlighted is dealing with privacy and cybersecurity threats. In today's world, all connected devices are in danger of cyber-attacks and data breaches that can create not only privacy issues but also potentially lead to significant financial losses. Cybersecurity and privacy breaches have become a huge issue for audio equipment companies, which are now expected to provide a solid layer of cybersecurity within their products.
Key Players in the Market
Yamaha Corporation (Japan), Bose Corporation (US), Allen & Heath (UK), Alpine Electronics (Japan), Pioneer Corporation (Japan), and Kenwood Corporation (Japan) are few key players in the audio production equipment market globally.
- In October 2022, Yamaha Corporation launched a new comprehensive vocal synthesis software VOCALOID6, for virtual vocal production. The VOCALOID singing synthesizer makes it possible to easily produce any kind of singing voice with the help of AI algorithms.
- In March 2022, Bose introduced its first-ever application of Electric Vehicle Sound Enhancement (EVSE) technology on the ’22 GMC Hummer EV battery-electric pickup. EVSE, along with a 14-speaker Bose surround-sound system, are standard on the Hummer EV introduced last fall. EVSE, engineered for the mostly silent interior that comes with operating an electric vehicle, sends custom-designed propulsion sounds into the cabin through Bose speakers to refine and enhance the acoustic environment.
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TABLE OF CONTENTS
1 Introduction
1.1. Study Objectives
1.2. Market definition
1.2.1. Inclusions and exclusions
1.3. Study scope
1.3.1. Markets Covered
1.3.2. Geographic Scope
1.3.3. Years considered
1.4. Currency
1.5. Stakeholders
1.6. Summary of Changes
2 Research Methodology
2.1. Research Data
2.1.1. Secondary Data
2.1.1.1. Key data from primary sources
2.1.2. Primary Data
2.1.2.1. Key industry insights
2.1.2.2. Breakdown of primaries
2.1.2.3. Key data from primary sources
2.2. Market size estimation
2.2.1. Bottom-Up Approach
2.2.2. Top-Down Approach
2.3. Market Breakdown and Data Triangulation
2.4. Research Assumptions
2.5. Limitations
2.6. Risk Assessment
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1. Introduction
5.2. Market Dynamics
5.2.1. Drivers
5.2.2. Restraints
5.2.3. Opportunities
5.2.4. Challenges
5.3. Supply/Value Chain Analysis
5.4. Ecosystem/Market Map
5.5. Pricing Analysis
5.5.1. Average Selling Price of Key Players, By Applications
5.5.2. Average Selling Price Trends
5.6. Trends/Disruption Impacting Customer Businesses
5.7. Technology Analysis
5.8. Porters 5 Forces Analysis
5.9. Key Stakeholder & Buying Criteria
5.10. Case Study Analysis
5.11. Trade Analysis
5.12. Patent Analysis
5.13. Key Conferences & Events
5.14. Tariff & Regulatory Landscape
5.14.1. Regulatory Bodies, Government Agencies and Other Organizations
6 Audio Production Equipment Market, By Offering
6.1. Introduction
6.2. Mixers
6.3. Power Amplifiers
6.4. Microphones
6.5. Speakers
6.6. Others
7 Audio Production Equipment Market, by Type
7.1. Introduction
7.2. Wired
7.3. Wireless
8 Audio Production Equipment Market, By Application
8.1. Introduction
8.2. Broadcast
8.3. Portable Sound
8.4. Music/Post-Production
8.5. Hall/Theatre
8.6. Others
9 Audio Production Equipment Market, By End-use industry
9.1. Introduction
9.2. Consumer Electronics
9.3. Automotive
9.4. Entertainment
10 Audio Production Equipment Market, By Region
10.1. Introduction
10.2. North America
10.2.1. US
10.2.2. Canada
10.2.3. Mexico
10.3. Europe
10.3.1. Germany
10.3.2. UK
10.3.3. France
10.3.4. Italy
10.3.5. Rest of Europe
10.4. APAC
10.4.1. China
10.4.2. Japan
10.4.3. South Korea
10.4.4. India
10.4.5. Rest of APAC
10.5. RoW
10.5.1. South America
10.5.2. Middle East and Africa
11 Competitive Landscape
11.1. Key Player Strategies/Right to Win
11.2. Revenue Analysis of Leading Players (2017-2021)
11.3. Market Share Analysis
11.4. Company Evaluation Quadrant
11.4.1. Star
11.4.2. Emerging Leader
11.4.3. Pervasive
11.4.4. Participant
11.4.5. Competitive Benchmarking
11.5. Startup/SME Evaluation Quadrant
11.5.1. Progressive Company
11.5.2. Responsive Company
11.5.3. Dynamic Company
11.5.4. Starting Block
11.5.5. Competitive Benchmarking
11.6. Competitive Situations and Trends
11.6.1. Product Launches
11.6.2. Deals
11.6.3. Others
12 Company Profiles
12.1. Major Players
12.1.1. Yamaha Corporation
12.1.2. Bose
12.1.3. Allen & Heath
12.1.4. Alpine Electronics
12.1.5. Pioneer
12.1.6. Kenwood Corporation
12.1.7. Behringer
12.1.8. Samsung
12.1.9. VOXX International
12.1.10. Sennheiser
12.2. Other Players
12.2.1. LG
12.2.2. JBL
12.2.3. Edifier
12.2.4. Vizio
12.2.5. D+M Group
*List of players is tentative
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies
13 Appendix
13.1. Discussion Guide
13.2. Knowledge Store: Marketsandmarkets’ Subscription Portal
13.3. Author Details
Growth opportunities and latent adjacency in Global Audio Production Equipment Market