Will The Re-emergence Of Vinyl Record Players In The Global Audio And Video Equi
Posted by sainath on September 21st, 2018
The audio and video equipment manufacturing market comprises establishments producing electronic audio and video equipment for home entertainment, musical instrument amplification, motor vehicles, and public address systems. Audio and video equipment products include televisions, speaker systems, video cassette recorders, stereo equipment, household-type video cameras, jukeboxes, and amplifiers for musical instruments and public address systems.
The global audio and video equipment manufacturing market has been growing in the past years with a CAGR of almost 5%. TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global audio and video equipment manufacturing market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
Vinyl record players are witnessing rapid growth due to rising popularity of physical music formats among millennials’ and youngsters. A vinyl is an analog sound storage medium that requires a gramophone or turntable to play music. Also, the deaths of some famous celebrities in the music industry drove vinyl sales as people invested in records as mementos. According to RIAA (Recording Industry Association Of America), sales of vinyl records grew by 32% to 6 million in 2015, thus indicating high demand for vinyl record players.
Companies included in the report are Samsung, Sony and LG Electronics.
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