In-Home Karaoke Market Scope
Over the past few decades, the impact of technology showcases massive advancement in the music industry. In addition to this, continues technological developments in developing electronic systems will further create significant opportunities in the in-home karaoke. It provide background music for the recorded songs, which can be retrieved from the cloud or local database. Moreover, increasing interest in music and singing expected to drive the market demand during the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Daiichi Kosho Company (Japan), Acesonic (United States), Pioneer Corporation (Japan), TJ Media (South Korea), Singing Machine Company, Inc. (United States) and ION Audio (United States) |
CAGR | 20.3% |
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global In-Home Karaoke market throughout the predicted period.
Daiichi Kosho Company (Japan), Acesonic (United States), Pioneer Corporation (Japan), TJ Media (South Korea), Singing Machine Company, Inc. (United States) and ION Audio (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Shenzhen Jingheng Digital Technology Co. Ltd. (China), Electrohome Ltd. (Canada) and Sakar (Mexico).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global In-Home Karaoke market by Type , by Application (Personal Use and Home Party) and Region with country level break-up.
On the basis of geography, the market of In-Home Karaoke has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In April 2022,The Singing Machine Company, Inc. announced it is launching a new line of karaoke products in partnership with a major national U.S. retailer. For the first time ever in a karaoke machine, the Company is introducing proprietary new SingCast technology which allows customers to wirelessly cast high-definition karaoke videos from a mobile device to the karaoke machine to display the lyrics on a connected TV.
In January 2019, VOXX Accessories Corporation (VAC), announced today that its karaoke and party system brand, Singsation launched four new models to its line of all-in-one karaoke offerings. and 15th February 2018, The Singing Machine Company, Inc. provider of consumer karaoke products launched three new products including Kids Karaoke Pedesta, Groove Mini, and Kid’s Keyboard & Microphone to its popular Kids Series line at Toy Fair 2018.
Influencing Trend:
Emergence of Karaoke Systems Equipped Dynamic Voice Modulators and Growing Adoption of Cloud-Based and Portable Karaoke Systems
Market Growth Drivers:
Increasing Demand for Leisure Products-Such As Entertainment Systems and Changing Lifestyle Standard Along With Rising Disposable Incomes
Challenges:
Lack of Awareness in the Emerging Economies
Restraints:
High Cost of Advanced In-Home Karaoke System
Opportunities:
Emergence of In-Home Karaoke with Wireless Microphone System and Rising Demand from the Developing Economies
Key Target Audience
In-Home Karaoke Systems Manufacturers, In-Home Karaoke Systems Distributors and Suppliers, International Traders, Government Agencies, Entertainment Industry Associations, Research and Development Institutes and Others