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2023 U.S. Industry Statistics & Market Forecast - Audio & Video Equipment Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Audio & Video Equipment Manufacturing:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2017 2018 2019 2020 2021 2022 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year / six-year demand forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Audio & Video Equipment Manufacturing industry has been experiencing a plethora of trends that are reshaping the industry. One of the major trends impacting the industry is the advent of new and emerging technologies that are transforming the way audio and video equipment are designed, manufactured, and used. The shift towards digitalization and the Internet of Things has led to the integration of advanced features such as voice commands, wireless connectivity, and smart functionality in audio and video equipment.Another significant trend impacting the industry is the proliferation of streaming services that are replacing traditional media platforms such as DVDs and CDs. This has led to a decline in demand for physical media and has forced manufacturers to adapt to the changing market dynamics by focusing on the development of products that are compatible with streaming services.
Additionally, the industry is witnessing an increased adoption of high-definition audio and video equipment, which is being driven by the growing demand for immersive entertainment experiences. Consumers are now willing to invest in high-end audio and video equipment that provides a cinematic experience in their homes.
Moreover, the industry is experiencing a trend towards environmentally sustainable practices, and manufacturers are under pressure to develop products that are energy-efficient and do not harm the environment. This has led to the adoption of eco-friendly manufacturing processes and the use of recyclable materials in product development.
Lastly, the global pandemic has accelerated the shift towards remote work and virtual events, leading to an increased demand for audio and video equipment that enable seamless communication and collaboration. Manufacturers are now focusing on developing products that cater to the needs of remote workers and the virtual events industry.
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Audio & Video Equipment Manufacturing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Audio & Video Equipment Manufacturing industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Audio & Video Equipment Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 13% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 4% | |||
| Business and Financial Operations Occupations | 8% | |||
| Business Operations Specialists | 7% | |||
| Computer and Mathematical Occupations | 10% | |||
| Computer Occupations | 10% | |||
| Software and Web Developers, Programmers, and Testers | 6% | |||
| Sales and Related Occupations | 10% | |||
| Office and Administrative Support Occupations | 10% | |||
| Production Occupations | 31% | |||
| Assemblers and Fabricators | 24% | |||
| Electrical, Electronics, and Electromechanical Assemblers | 18% | |||
| Electrical, Electronic, and Electromechanical Assemblers, Except Coil Winders, Tapers, and Finishers | 17% | |||
| Miscellaneous Assemblers and Fabricators | 6% | |||
Audio & Video Equipment Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Audio & Video Equipment Manufacturing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Audio & Video Equipment Manufacturing industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Audio & Video Equipment Manufacturing industry. |
Source:
Government Contracts
In 2022, the federal government spent a total of $263,013,530 on Audio & Video Equipment Manufacturing. It has awarded 1056 contracts to 393 companies, with an average value of $669,246 per company.| Most Recent Contracts | Date | Total Award Amount |
|---|
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