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Karaoke Market Analysis, Share, Industry, Opportunities 2031

Karaoke Market

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Segments - by Types (Portable System and Fixed System), Product Types (Built-in Microphone System, TV Monitor System, MP3 System, and All-in-One System), Applications (Personal and Commercial), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Report Description

The global karaoke market size was valued at around USD 6.15 Billion in 2022 and is anticipated to reach USD 7.68 Billion by 2031, expanding at a CAGR of around 2.5% during the forecast period, 2023-2031. The growth of the market is attributed to the rising demand for karaoke as a form of entertainment among young global population.

Karaoke is derived from Japanese words Kara, which means empty or void, and Oke, which means orchestra. Karaoke was originated in Japan in 1970s. The first karaoke machine was invented in 1971 by a Japan-based businessman, Daisuke Inoue. Karaoke refers to a type of interactive entertainment, where people sing along to recorded music. Recorded music is usually an instrumental version of a song.

Lyrics of that song are displayed on a video screen with moving symbol along the words to guide the singer. Karaoke systems include microphones, screens, and speakers. Several dedicated karaoke bars offer special decorative rooms and professionally set karaoke machines to consumers. In recent years, several restaurants and pubs have started providing karaoke platforms to their consumers. Consumers, however, do not need to go out to enjoy karaoke. Several manufacturers are creating portable and all-in-one karaoke systems for consumers to enjoy karaoke within comfort for their houses.

Karaoke Market Trends, Drivers, Restraints, and Opportunities

Rising number of karaoke competitions across the globe is expected to drive the market during the forecast period.
Increasing number of restaurants and pubs providing karaoke platforms on the premises boosts the market.
Rising preference of karaoke as a medium to bond over is estimated to fuel the growth of the market during the forecast period.
Increasing usage of karaoke as a source of entertainment in corporate parties spurs the market.
Rising number of movies or TV series showing karaoke scenes boosts the market.
Growing adoption of smart devices and high-tech features spurs the market.
Technical difficulties and high costs of karaoke equipment are anticipated to hamper the growth of the market.
Lack of awareness of smartphone applications regarding karaoke is expected to create a hurdle in the growth of the market.
Growing demand for smartphone applications for karaoke is expected offer growth opportunities to the key market players.

Scope of Karaoke Market Report

The report on the global karaoke market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Karaoke Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Types (Portable System and Fixed System), Product Types (Built-in Microphone System, TV Monitor System, MP3 System, and All-in-One System), and Applications (Personal and Commercial)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Daiichi Kosho Co., Ltd.; Red Karaoke; Pioneer Corporation; Smuke, Inc.; The 3M Company; SingSnap karaoke; Circus World Display, Ltd.; Onkyo Corporation; Platinum Karaoke; inMusic Brands; Pure Acoustics, Inc.; U-Sing Mini Karaoke; Solo Karaoke; The Singing Machine Company, Inc.; and Others

Market Segment Insights

Portable system segment drives the market

Based on types, the market is bifurcated into portable system and fixed system. The portable system segment is expected to boost the market during the forecast period, due to increasing usage of karaoke systems at home. Portable karaoke systems are easy to operate, inexpensive, and can be used with multiple music sources. Portable karaoke systems are easy to carry between locations. These factors are projected to aid in expansion of the portable system segment in the coming years.

All-in-one system boosts the market

In terms of product types, the market is divided into built-in microphone system, TV monitor system, mp3 system, and all-in-one system. The all-in-one system segment is projected to hold a key market share during the forecast period, due to increasing usage of karaoke in parties and gatherings. All-in-one karaoke system includes wireless microphones, Bluetooth speakers, and phone or tablet holders. These systems let users connect their smart devices with the speakers and microphone. Users do not need to invest in multiple devices and instruments to operate karaoke systems. These factors fuel the growth of the segment.

Commercial segment holds a key market share

On the basis of applications, the market is segregated into personal and commercial. The commercial segment is estimated to expand at a rapid pace during the forecast period, as increasing number of restaurants, cafes, and pubs are providing karaoke platforms for consumers. Restaurants and pubs use strategies such as karaoke nights and offers to attract more foot traffic.

The personal segment is anticipated to expand in the coming years, due to growing number of usages of karaoke in house or private parties. Consumers prefer karaoke as a medium of entertainment and relaxation within comfort of their houses. Several manufacturers invest in developing portable and technologically advanced karaoke systems to cater the growing demand for such karaoke systems. These factors are anticipated to drive the personal segment during the forecast period.

Asia Pacific dominates the market

In terms of regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is estimated to register a high CAGR during the forecast period, owing to increasing adoption of karaoke in clubs, restaurants, and parties in the region. The market in Europe is anticipated to expand in the coming years, due to rising awareness of karaoke systems in the regions. Increasing adoption of high-speed internet and technological advancement are some of the key factors driving the market in North America during the forecast period.

Segments

The global karaoke market has been segmented on the basis of

Types

Portable System
Fixed System

Product Types

Built-in Microphone System
TV Monitor System
MP3 System
All-in-One System

Applications

Personal
Commercial

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Daiichi Kosho Co., Ltd.
inMusic Brands
Red Karaoke
Pioneer Corporation
Smule, Inc.
The 3M Company
The Singing Machine Company, Inc.
SingSnap karaoke
Circus World Display, Ltd.
Onkyo Corporation
Platinum Karaoke
Pure Acoustics, Inc.
U-Sing Mini Karaoke
Solo Karaoke
Others

Competitive Landscape

The global karaoke market is competitive with the presence of key players such as Daiichi Kosho Co., Ltd.; Red Karaoke; Pioneer Corporation; Smule, Inc.; The 3M Company; SingSnap karaoke; Circus World Display, Ltd.; Onkyo Corporation; Platinum Karaoke; inMusic Brands; Pure Acoustics, Inc.; U-Sing Mini Karaoke; Solo Karaoke; The Singing Machine Company, Inc.; and others, who use business strategies such as acquisitions, mergers, partnerships, collaborations, and product launches to dominate the market.

For example, in May 2022, The Signing Machine Company, Inc. launched new line of karaoke products to be available in Walmart stores across the US. In May 2021, California-based record company, Sybersound, launched Party Tyme Karaoke, a linear streaming channel, on SelectTV.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Karaoke Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Karaoke Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Karaoke Market - Supply Chain
  4.5. Global Karaoke Market Forecast
     4.5.1. Karaoke Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Karaoke Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Karaoke Market Absolute $ Opportunity
5. Global Karaoke Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Karaoke Market Size and Volume Forecast by Types
     5.3.1. Portable System
     5.3.2. Fixed System
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Karaoke Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Karaoke Market Size and Volume Forecast by Applications
     6.3.1. Personal
     6.3.2. Commercial
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Karaoke Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Karaoke Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Karaoke Demand Share Forecast, 2019-2026
8. North America Karaoke Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Karaoke Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Karaoke Market Size and Volume Forecast by Types
     8.4.1. Portable System
     8.4.2. Fixed System
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Karaoke Market Size and Volume Forecast by Applications
     8.7.1. Personal
     8.7.2. Commercial
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Karaoke Demand Share Forecast, 2019-2026
9. Latin America Karaoke Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Karaoke Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Karaoke Market Size and Volume Forecast by Types
     9.4.1. Portable System
     9.4.2. Fixed System
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Karaoke Market Size and Volume Forecast by Applications
     9.7.1. Personal
     9.7.2. Commercial
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Karaoke Demand Share Forecast, 2019-2026
10. Europe Karaoke Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Karaoke Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Karaoke Market Size and Volume Forecast by Types
     10.4.1. Portable System
     10.4.2. Fixed System
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Karaoke Market Size and Volume Forecast by Applications
     10.7.1. Personal
     10.7.2. Commercial
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Karaoke Demand Share Forecast, 2019-2026
11. Asia Pacific Karaoke Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Karaoke Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Karaoke Market Size and Volume Forecast by Types
     11.4.1. Portable System
     11.4.2. Fixed System
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Karaoke Market Size and Volume Forecast by Applications
     11.7.1. Personal
     11.7.2. Commercial
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Karaoke Demand Share Forecast, 2019-2026
12. Middle East & Africa Karaoke Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Karaoke Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Karaoke Market Size and Volume Forecast by Types
     12.4.1. Portable System
     12.4.2. Fixed System
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Karaoke Market Size and Volume Forecast by Applications
     12.7.1. Personal
     12.7.2. Commercial
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Karaoke Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Karaoke Market: Market Share Analysis
  13.2. Karaoke Distributors and Customers
  13.3. Karaoke Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Daiichi Kosho Co., Ltd.
     13.4.2. Red Karaoke
     13.4.3. Pioneer Corporation
     13.4.4. Smule, Inc.
     13.4.5. The 3M Company
     13.4.6. SingSnap karaoke
     13.4.7. Circus World Display, Ltd.
     13.4.8. Onkyo Corporation
     13.4.9. Platinum Karaoke
     13.4.10. inMusic Brands

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