Global Karaoke Market Overview
The karaoke market size was valued at USD 5.1 Billion in 2022. The karaoke industry is projected to grow from USD 5.22 Billion in 2023 to USD 6.32 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 2.41% during the forecast period (2023 - 2032). The rising number of karaoke competitions across the globe, increasing number of restaurants and pubs providing karaoke platforms, growing adoption of smart devices and high-tech features and increasing usage of karaoke as a source of entertainment in corporate parties are the key market drivers enhancing the market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Karaoke Market Trends
Growing strategies adopted by key players are driving the market growth
Market CAGR for karaoke is being driven by the rising number of obese people. Karaoke equipment is highly fragmented as changing consumer demands drive companies to innovate to attract more consumers. Players within the market are continuously specializing in developing technologically advanced solutions for their customers. In May 2022, The Signing Machine Company, Inc. launched a new line of karaoke products to be available in Walmart stores across the US. Moreover, in May 2021, California-based record company Sybersound launched Party Tyme Karaoke, a linear streaming channel, on Select TV.
Moreover, audio accessories also cater to the growing karaoke market demand over the forecast period. Miniature microphones and accessories are the products outlined for professional sound reproduction in installation, broadcast, film, and field applications. Players are investing in broadening their technology as it covers higher demand. For instance, in October 2022, Sony Electronics introduced a C-80 condenser microphone for studio recording. The uni-directional condenser microphone is ideal for vocal/voice recording, instrumental recording, vlogging, webcasting, and podcasting.
The availability of advanced music-mixing systems will fuel the karaoke market growth. With advances in technology, the use of advanced music-mixing systems by karaoke creators is increasing. These advanced music-mixing systems include synthesizers and music-mixing software to create digital or electronic music for karaoke systems. Creating karaoke systems for use in commercial and public spaces presents unique challenges. Artists want to create songs that sound good without sacrificing audibility in such public areas.
With nearly everything operating from home - TV productions, education, health and wellness, and everyday work, vendors are gauging the need for improved audio in these settings and, thus, are getting involved in introducing new products to the market. The market is witnessing various expansion activities by vendors to enhance its geographical reach and cater to a broader customer base. For instance, in May 2022, Turtle Beach Corporation launched its Neat Microphones brand in Europe. The new line-up is headlined by King Bee II, the brand's high-performance XLR microphone driving the karaoke market revenue.
Karaoke Market Segment Insights
Karaoke Type Insights
The karaoke market segmentation, based on type, includes an all-in-one system, a built-in microphone system, a TV monitor system, and an MP3 system. The all-in-one system segment dominated the market, accounting for 35% of market revenue (1.82 billion). In developing economies, category growth is driven by increasing karaoke usage at parties and gatherings. The all-in-one karaoke system includes wireless microphones, Bluetooth speakers, and phone or tablet holders. These systems let users connect their smart devices with speakers and microphones. Users do not need to invest in multiple devices and instruments to operate karaoke systems. However, built-in microphone systems are the fastest-growing category due to the rising adoption of wireless microphones across public speaking, television broadcasting, and entertainment drives the karaoke market growth.
Karaoke Application Insights
The karaoke market segmentation, based on application, includes household and commercial. The commercial category generated the most income (70.4%). This is due to the increasing number of restaurants, cafes, and pubs providing karaoke platforms for consumers. Restaurants and pubs use strategies such as karaoke nights and offer to attract more foot traffic. However, the household is the fastest-growing category due to the growing number of usages of karaoke in-house or private parties. Consumers prefer karaoke as a medium of entertainment and relaxation within the comfort of their houses. Several manufacturers invest in developing portable and technologically advanced karaoke systems to cater to the growing demand for such karaoke systems.
Figure 1: Karaoke Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Karaoke Regional Insights
By region, the study delivers market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American karaoke market area will dominate, owing to the increasing adoption of karaoke in clubs, restaurants, and parties in the region. In addition, increasing adoption of high-speed internet and technological advancement will boost market growth in this region. Further, the US karaoke market held the largest market share, and the Canadian karaoke market was the fastest-growing market in the North American region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: KARAOKE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe's karaoke market accounts for the second-largest market share due to growing urbanization trends, and individuals' acceptance of innovative technology developments drives the market growth in this region. Further, the German karaoke market held the largest market share, and the UK karaoke market was the fastest-growing market in the European region.
The Asia-Pacific karaoke market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to increasing technological innovation, the presence of some leading audio equipment providers, such as Yamaha Corporation and Alpine Electronics, and rapid industrialization, which have led to a steady stream of new audio equipment. Moreover, China’s karaoke market held the largest market share, and the Indian karaoke market was the fastest-growing market in the Asia-Pacific region.
Karaoke Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the karaoke market grow even more. Market participants are also undertaking a variety of strategic activities to enhance their footprint, with important market developments including contractual agreements, new product launches, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the karaoke industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers’ use in the karaoke industry to benefit clients and increase the market sector. Major players in the karaoke market, including The 3M Company (US), Koninklijke Philips N.V. (Netherlands), Sharp Corporation (Japan), Panasonic Corporation (Japan), Ecom Ventures (US), Agcen Air Purifier (China), Xiamen Maxmac Air Technology Co., LTD (China), and others, are attempting to increase market demand by investing in research and development operations.
Tesla Inc is an automotive and energy company. It designs, develops, manufactures, sells, and leases electric vehicles and energy generation and storage systems. The company produces and sells the Model Y, Model 3, Model X, Model S, Cybertruck, Tesla Semi and Tesla Roadster vehicles. Tesla also installs and maintains energy systems, sells solar electricity, and offers end-to-end clean energy products, including generation, storage, and consumption. It markets and sells vehicles to consumers through a network of company-owned stores and galleries. In January 2022, Tesla launched a microphone called TeslaMic designed for its in-car karaoke system, currently available in China. The microphone is developed to work with Leishi KTV, a karaoke system that is being included as part of the update.
JBL is an American audio equipment manufacturer headquartered in Los Angeles, California, United States. JBL serves the customer's home and professional market. The professional market includes studios, installed/tour/portable sound, cars, music production, DJ, cinema markets, etc. JBL is owned by Harman International, an independent subsidiary of Samsung Electronics. JBL was founded by James Bullough Lansing (1902–1949), an American audio engineer and loudspeaker designer best known for establishing two audio companies that bear his name, Altec Lansing and JBL, the latter taken from his initials. In January 2022, JBL introduced the first microphone and true wireless gaming headset to the JBL Quantum range. The dual-condenser microphone is ideal for coordinating with teammates, bringing crystal-clear communication to the center of the action as a standalone solution.
Key Companies in the Karaoke market include.
- The 3M Company (US)
- Koninklijke Philips N.V. (Netherlands)
- Sharp Corporation (Japan)
- Panasonic Corporation (Japan)
- Ecom Ventures (US)
- Agcen Air Purifier (China)
- Xiamen Maxmac Air Technology Co., LTD (China)
- Purafill (US)
- Zhongzhi Environmental Protection (China)
- Ionkini Technology (GZ) Co., Ltd. (China)
- Foshan Autobio Electrical Appliance Co., Ltd. (China)
- Guangzhou Haike Electronic Technology Co., Ltd (China)
- Elofic Industries Limited (India)
- Ansio India Private Limited (India)
- ADA Electrotech (Xiamen) Co., Ltd. (China)
Karaoke Industry Developments
September 2022: Tietoevry announced a strategic collaboration with Bose, a audio company, to establish a new center of excellence in Warsaw, Poland. This operation will bring recent software engineering resources and expertise to the development of several Bose sound systems and products.
January 2022: Vitec Imaging Solutions announced the acquisition of Audix, the premier microphone brand for studio and live performance audio. As part of the Vitec family, the Audix team and facility in Oregon will become Vitec Imaging Solutions' Audio R&D Centre of Excellence, accelerating in-house microphone product design, development, and manufacturing across all Vitec audio brands.
Karaoke Market Segmentation
Karaoke Type Outlook
- All-In-One System
- Built-In Microphone System
- TV Monitor System
- MP3 System
Karaoke Application Outlook
Karaoke Regional Outlook
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Latin America
Market Size 2022
USD 5.1 Billion
Market Size 2023
USD 5.22 Billion
Market Size 2032
USD 6.32 Billion
Compound Annual Growth Rate (CAGR)
Market Forecast Period
Market Forecast Units
Value (USD Billion)
Revenue Forecast, Growth Factors, Market Competitive Landscape, and Trends
Type, Application, and Region
North America, Europe, Asia Pacific, and the Rest of the World
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled
The 3M Company (US), Koninklijke Philips N.V. (Netherlands), Sharp Corporation (Japan), Panasonic Corporation (Japan), Ecom Ventures (US), Agcen Air Purifier (China), Xiamen Maxmac Air Technology Co., LTD (China), Purafill (US), Zhongzhi Environmental Protection (China), Ionkini Technology (GZ) Co., Ltd. (China), Foshan autobio Electrical Appliance Co., Ltd. (China), Guangzhou Haike Electronic Technology Co., Ltd (China), Elofic Industries Limited (India), Ansio India Private Limited (India), and ADA Electrotech (Xiamen) Co., Ltd. (China)
Key Market Opportunities
The rising number of karaoke competitions across the globe
Increasing number of restaurants and pubs providing karaoke platforms
Key Market Dynamics
Growing adoption of smart devices and high-tech features
Increasing usage of karaoke as a source of entertainment in corporate parties
Frequently Asked Questions (FAQ) :
The Karaoke market size was valued at USD 5.1 Billion in 2022.
The market is projected to grow at a CAGR of 2.41% during the forecast period, 2023-2032.
North America had the largest share of the market
The key players in the market are The 3M Company (US), Koninklijke Philips N.V. (Netherlands), Sharp Corporation (Japan), Panasonic Corporation (Japan), Ecom Ventures (US), Agcen Air Purifier (China), and Xiamen Maxmac Air Technology Co., LTD (China).
The beverage category dominated the market in 2022.
Which distribution channel had the largest market share in the Karaoke market?
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