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Companies in this industry manufacture televisions, stereos, speakers, video players, and camcorders. Major companies include Bose and Harman International (both based in the US), along with LG Electronics and Samsung (South Korea); Panasonic, Pioneer, and Sony (Japan); and Royal Philips (the Netherlands).
Worldwide, manufacturers of audio and video equipment generate about $250 billion in annual revenue from products such as televisions, set-top boxes, digital still cameras, video game consoles, and Blu-ray players, according to IHS. Countries in Asia dominate the audio and video equipment manufacturing industry.
The US audio and video equipment manufacturing industry includes about 450 companies with annual revenue of about $3 billion.
Competing products such as PCs and tablets, game consoles, and smartphones are covered in profiles of the Computer Manufacturing, Electronic Gaming Products, and Wireless Telecommunications Equipment industries, respectively.
Demand is driven by consumer income and the rate of product innovation. The profitability of individual companies depends on manufacturing efficiency and effective marketing and distribution. Large companies have advantages in economies of scale in manufacturing, marketing, and distribution. Small companies can compete effectively by offering specialty products or components in system solutions, such as speakers in a home theater system. The US industry is highly concentrated: the 50 largest companies account for about 80 percent of revenue.
Audio and video equipment competes with PCs, tablets, smartphones, and game consoles in the consumer home entertainment market. US manufacturers of ...
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