Global and China audio industry market size analysis

April 14, 2023

After 30 years of rapid development, China's audio industry has made great progress. At present, China has developed into a major producer and exporter of audio equipment in the world. Although in recent years, due to the increase in labor costs, rising raw material prices, fluctuations in the exchange rate of the RMB, policies and other factors, the growth rate of output value of China's major electronic audio products has slowed down, but from the end of 2016, the industry has begun to show a warming trend.
Global: 2017 annual output value of nearly 500 billion yuan
The global electronic audio market's output value has increased from 2010 to 2016. It achieved a high growth rate in 2011 and 2014, but the annual growth rate was single digit, and there was a negative growth in 2016. In 2016, the global electronic audio industry output value was about 472.8 billion yuan. According to the forecast of the China Business Industry, in 2017, the global electronic audio will be nearly 500 billion yuan.

The global electronic audio brands are mainly concentrated in developed countries and regions in Europe and America. The global electronic audio production enterprises are mainly concentrated in developing countries such as China, Vietnam and Brazil. Some developed countries and regions such as Europe, America and Taiwan also have some production capacity.
From the perspective of exporting international markets, audio production enterprises in developing countries have a high dependence on the international market, accounting for 70% of the total industry sales revenue, and the export market is mainly concentrated in the United States, Japan and other countries and regions, accounting for exports. About 50% of the total. Although there is no obvious relationship between the degree of development of the industry and the level of export concentration, and the export stability of countries with developed economies and mature markets is significantly higher than that of developing countries, the excessive concentration of export markets reduces the ability of the industry to resist risks.
China: 2017 output value is nearly 294.1 billion yuan
The market situation of the global electronic audio industry directly affects the export of China's electronic audio industry. Affected by the slow growth of the global electronic audio industry, China's electronic audio exports experienced negative growth during the period from 2007 to 2009. Later, as the international electronic audio market stabilized and rebounded, China's electronic audio export volume resumed growth. In 2015, China's electronic audio industry maintained a steady growth trend. The total output value was about 280.8 billion yuan, up 1.23% year-on-year; the total export volume broke through the 30 billion US dollar mark, reaching US$30.11 billion, a year-on-year increase.
Since 2010, except for the rapid growth rate in 2011 and 2014, the industry is generally in a low-speed adjustment period, showing a volatility upward trend. In 2014, due to the recovery of the international market and the rapid growth of residents' income and the continuous growth of online retail, domestic and international markets have achieved good development. In 2016, the output value of China's electronic audio products was about 274.1 billion yuan, and in 2017 it was about 2941 yuan.
The status of the professional audio market: the output value is about 8.545 billion yuan
With the development of social economy and the “Cultural Industry Revitalization Plan” and other policies that encourage the development of downstream industries, people’s cultural and recreational activities are increasing. Coupled with the increasing investment in information technology and public projects, the professional audio market still has Great development space. In the future, the professional audio industry will present a trend of specialization in the field of subdivision, more localization of products and concentration of market-oriented brands. The 2017-2022 China Professional Audio Industry Market Outlook Survey and Investment and Financing Strategy Research Report predicts that the professional audio output value of China will reach 8.545 billion yuan in 2017, an increase of 5.17%. This is undoubtedly a shot in the arm for professional audio equipment manufacturers and audio and video integrators.

Professional audio supply in 2018: nearly 40 billion yuan
According to relevant data, the supply of enterprises above designated size in professional audio and related peripheral industries in China is about 38 billion yuan (referred to as the value directly purchased by users), and the actual market sales will reach 35.5 billion yuan (referred to as users). Above the value of direct purchases, the destocking pressure still exists.
Driven by the continued strong KTV and bar, the professional audio market has achieved rapid development in the past decade. The main needs of this stage are bars, professional KTV, nightclubs and large hotels. After 2015, the market has entered a long-term lag.
Since the second half of 2017, with the continuous improvement of personal cultural needs, the company's Internet, tourism and the rise of characteristic towns, family and personal entertainment audio, small conference room audio, education market, cultural performances and small sports entertainment The demand for venues has increased, which means that the professional audio market will present in the future: miniaturization, portability, wireless, integration and intelligence.
In 2018, the total domestic professional audio and related industry market will exceed 40 billion (expected sales of 42.3 billion yuan), of which the military, education and training market will account for more than 50% of the total market.

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