launched a new line of karaoke products to be available in Walmart stores across the US. In May 2022, The Signing Machine Company, Inc. Players within the market are continuously specializing in developing technologically advanced solutions for their customers. Karaoke equipment is highly fragmented as changing consumer demands drive companies to innovate to attract more consumers. Market CAGR for karaoke is being driven by the rising number of obese people. Growing strategies adopted by key players are driving the market growth
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review 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. 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 karaoke market size was valued at USD 5.1 Billion in 2022.
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