Video Equipment Market: Steady Growth Driven by Economic Factors and Technological Advances

The Business Research Company’s Video Equipment Global Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

LONDON, GREATER LONDON, UK, November 30, 2023 /EINPresswire.com/ -- The video equipment market has exhibited consistent growth, expanding from $128.02 billion in 2023 to an estimated $133.09 billion in 2024, with a Compound Annual Growth Rate (CAGR) of 4.0%. This positive trend is expected to continue, projecting the market to reach $151.67 billion by 2028, supported by a steady CAGR of 3.3%.

Market Driver: Economic Growth and Middle-Class Expansion
A key driver propelling the video equipment market is the increase in disposable incomes, particularly in developing countries like China, India, and Brazil. Economic growth and the expansion of the middle-class population have contributed to a rise in disposable incomes. According to the World Bank, lower-middle-income countries saw per capita net disposable income ranging from $1,036 to $4,045, while upper-middle-income countries recorded incomes between $4,046 and $12,535 in 2021. This surge in earnings has heightened the demand for consumer electronics, including televisions and home theatre systems.

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Market Segmentation
1) By Product Type: Television, Video Cameras, Video Players
2) By Application: Online, Offline
3) By End Use Industry: B2B, B2C

Emerging Trend: Surge in Ultra HD Television Demand
An emerging trend in the video equipment industry is the growing demand for Ultra HD televisions, encompassing 4K and 8K UHDs. These televisions, characterized by energy efficiency and high-quality images with a minimum resolution of 3840x2160 pixels, are experiencing rapid adoption. Technological advancements have accelerated the transition from traditional CRT and LCD TVs to Ultra HD TVs. Notably, individuals aged over 64 are shifting towards streaming services, indicating a preference for these advanced televisions. The rising demand for Ultra HD 4K and 8K televisions is evident in the global market, with smart TV penetration reaching 34% of households by the end of 2020 and sales increasing by 7.4% in 2020.

Regional Dynamics: Asia-Pacific Leads, North America Follows
As of 2023, Asia-Pacific asserts its dominance as the largest region in the video equipment market, driven by economic growth and technological adoption. North America follows closely as the second-largest region, reflecting a robust market presence.
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Video Equipment Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Video Equipment Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on video equipment market size, video equipment market drivers and trends, video equipment market major players, video equipment market competitors' revenues, video equipment market positioning, and video equipment market growth across geographies. The video equipment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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