Karaoke Market Global Industry Forecast 2022
The global karaoke market size was valued at USD 5,733.7 million in 2021 and is poised to grow at a significant CAGR of 2.7% during the forecast period 2022-28. Karaoke players are attractive, portable, and light to carry. These really create a big difference in bringing up the party mood at home. No matter what the objective of party at home is, the moment one switch on the karaoke player, the whole scenario changes to good. In short, consider the stress level to low or 0 from these players which significantly boost the global market.
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The global karaoke market segmentation:
- By Product Type: All-in-One System, Built-In Microphone System, TV Monitor System, MP3 System and Others
- By Application: Household, Commercial and Others
North America leads the Global Karaoke Market:
Based on regional analysis, global karaoke market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America karaoke market contributed the largest share in 2021. Escalating external competition and tepid growth in alcohol expenditure have constrained revenue growth for the Karaoke Bars industry over the five years. Consumer spending has assuaged these factors somewhat, as renewed interest in high-end karaoke bars has stimulated consumer interest in urban areas. All these significantly boost the market up to certain level.
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Key player’s profiles in the global karaoke market are DAIICHIKOSHO CO., LTD. (Japan), Onkyo & Pioneer Corporation (Japan), Memorex (US), The Singing Machine Company, Inc. (US), Electrohome Ltd. (Canada), Ion Audio LLC (US), Karaoke USA (US), VocoPro (US), Pure Acoustics, Inc. (US), Platinum Karaoke (Philippines), and Audio Video Solutions Corporation (Philippines)
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