According to the new research report titled "AV Receiver Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 2,616.44 million by 2028, registering a CAGR of 3.9% from 2021 to 2028.

Over the years, the commercial applications of AV receivers have increased in the automotive and digital signage industries in North America. The rise in disposable income has led to an increase in the production of passenger cars in the US, Canada, and Mexico, with a total of 1,926,795; 327,681; and 967,479 cars produced respectively in 2020, according to the International Organization of Motor Vehicle Manufacturers. The demand for efficient audio and video systems in passenger cars has also increased, leading to a higher adoption of AV receivers by automotive manufacturers in the region. Therefore, the increasing investment by car manufacturers to integrate advanced audio and video systems in their vehicles is expected to drive the growth of the AV receiver market in the region.

The temporary closure of manufacturing units in North America due to the COVID-19 outbreak resulted in losses for the manufacturing sector, leading to reduced production capacities in the automotive industry and a decrease in the demand for AV receivers. However, the closure of major places and activities led to a rise in demand for home theaters, resulting in a positive impact on the demand for AV receivers from the residential sector. Although the market experienced a supply and demand gap, the resumption of supply chain operations in Q3 of 2020 positively impacted the market. Despite the weakened state of North America's AV receiver market due to the pandemic, the demand for AV receivers began to grow from end-user industries such as automotive in the US, Canada, and Mexico in Q3 of 2020.

The AV receiver market is segmented based on channel, application, and geography. Based on channel, the market is categorized into channel 5, channel 7, channel 9, and others. Based on application, the AV receiver market is bifurcated into residential and commercial. Based on geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America.

Key Findings of Study:
Home entertainment comprises various components, such as televisions, projectors, home theaters, and a range of high-end electronic systems. The consumer electronics sector has undergone significant transformations in the past decade, beginning with new entertainment options, such as digital set-top boxes, media players like Blu-ray players, digital video recorders, and home theatre systems. Home theatre systems have experienced a substantial surge in popularity among consumers due to the rising income levels and a willingness to spend more on entertainment solutions. Home theatre systems include sound and display systems, media players, storage devices, and theater-in-a-box systems. In recent years, consumers have shown a greater inclination towards customized home theaters, and companies like The Home Theater Company are offering tailored home theatre packages based on the customer's room size, design, and preferences. These factors are thus driving the demand for AV receivers from home theater users.

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