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Audio and Video Cables Market Outlook- 2030
An audio and video cable is commonly referred to as an AV cable. It is used to link several pieces of audio-visual devices such as films, television shows, business conferences, church services, and live theatrical plays. There are several types, depending on the number of sound channels, visual channels, and control signals and can be chosen in several connections.
Some sectors, such as electronics and multimedia, attempt to standardize on a single connection family, such as the XLR, although the standard varies by industry, company, and time. HDMI, coaxial cables, and fiber optic cables are commonly used to transfer AV signals because they allow faster and more efficient data transfer between terminals. Attributed to its greater bandwidth and data transfer rate, DVI cables are used for gaming. Furthermore, as homes adopt more multimedia equipment, the need for AV cables in the residential sector is estimated to rise. All these factors are creating lucrative opportunities for the audio and video cables market globally.
The global audio and video cables market is segmented on the basis of type, component, cable type, application, and region. Based on type, the market is divided into HDMI, RCA, DVI, VGA, others. In terms of component, the market is categorized into connectors and adapters. On the basis of cable type, the market is divided into copper cable, fiber optics, coaxial cables. On the basis of application, the market is divided into telecommunication, multimedia, education, hospitality, others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global audio and video cables industry include Amphenol Corporation, WESCO International, AV Supply group, Black Box Corporation, Belden Inc., Commscope, LEGRAND SA, Nexans, Prysmian Group, Foxconn Technology Group. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global audio and video cables market.
COVID-19 Impact Analysis
The disease has spread to almost every country in the world since the COVID-19 viral outbreak in December 2019, prompting the World Health Organization to declare it a public health emergency. The global effects of the coronavirus illness 2019 (COVID-19) are already being felt.
The use of audio-video equipment for video conferencing and business meetings during "work from home" raised the demand for audio and video cables market share during the coronavirus epidemic. During the global lockdown, however, the sales channel and production activities were significantly disrupted.
Top Impacting Factors
The rise in demand for 4K/UHD televisions and increased use of audio, video, and small multimedia devices are some of the drivers helping the audio and video cables industry. However, as the use of wireless streaming platforms has grown, the need for AV cables has decreased, which is a restraining factor in the audio and video cables market.
The audio and video cables market is expected to benefit from the growth in the multimedia and entertainment industry as well as advancements in HDMI cable for increased bandwidth linked to display technology.
Surge in Usage in Audio Video Devices and Miniature Multimedia Devices
There has been an increase in the use of audio-visual multimedia devices with AV I/O connectors. The Internet of Things (IoT) and artificial intelligence (AI) have fueled the demand for audio visual devices with AV connections such as home theatre systems. Home theatre systems that are connected with artificial intelligence software, such as Alexa, Google Assistant, and others, give users with built-in intelligence and convenience.
Multimedia gadgets, such as DVD players and music systems, also include connections for connecting to video panels and vice versa, increasing the potential for rise in usage of audio and video cables. The growing popularity of small multimedia devices, such as video cameras, digital cameras, peco projectors, and other new gadgets, that need AV cables for connection is surging the audio and video cables market opportunity.
Furthermore, the latest HDMI connections, which are compatible with the latest audio video quality, are used in the development of mobile camera photography programs that give 4K movies and enhanced 360-degree video capture.
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Questions Answered in Audio and Video Cables Market Report
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