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Market OverviewHome theatre a genre of television which offers the theatre experience to the users, that is reproduced at home. According to an exhaustive study conducted by Market Research Future (MRFR) the global home theatre market is estimated to experience robust growth at 19% CAGR over the assessment period 2017 to 2023. The market is likely to attain a valuation of USD 31 bn by the conclusion of 2023. The growth observed in the entertainment and consumer electronics industries has predicted lucrative opportunities for the home theatre market players. The market is likely to witness exponential expansion on account of factors such as increasing adoption of cloud services, vendor’s alliance for enhancing the manufacturing process, and growth of big players in developing countries. The improving standards of living and disposable income of the population in emerging economies has further spurred the demand for home theatres across the world. The trend is anticipated to continue over the forecast period. Moreover, the upgradation in specifications offered by the established players are projected to propel the demand of the home theatre market in the future. Offering the finest experience is the primary area of focus for the market players. The market is catalyzed by increased investment in the home theatre market. The investments are mainly directed towards introducing the experience of commercial theatres at the door of the consumers. The acceptance of next-gen technologies like voice control systems and wireless surround sound, have projected the home theatre market on a rising trajectory. Furthermore, the increasing movie tickets prices are expected to surge the market growth for home theatres. Home theatres are gaining popularity owing to the connectivity feature incorporated for connecting a wide range of devices with the home theatres. However, the rising dependency on smartphones for binge-watching movies and internet streaming is likely to restrict the market growth of over the review period.
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Market Segmentation
The segments of the global home theatre market are based on component and type. Based on component, the market is segmented into display systems, media players, sound & storage devices. Based on type, the global home theatre market is segmented into sound bar, home theatre in a box system, component separate, and component systems.
Key Player
Global home theatre market is extensively dominated by prominent players such as LG Electronics (South Korea), Bose Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), Panasonic Corporation (Japan), Akai Electronics (Japan), Sony Corporation (Japan), Bowers & Wilkins (U.K.), Koninklijke Philips N.V., (Netherlands), and Toshiba Corporation (Japan).
Regional Analysis
North America market holds a significant share of Home Theatre Market. The early adoption of technological progressions coupled with the prevalence of key players is estimated to drive the potential of the home theatre market in the region. A surge in demand for consumer electronics is anticipated to accelerate the growth of the market. Furthermore, the expansion across the wide range of sound systems are estimated to impact the home theatre market growth positively. Europe is a key growth pocket and is likely to experience considerable growth during the review period. The surge in demand for home theatres is predicted to propel the expansion of the regional market. Asia Pacific is projected to register the highest CAGR over the assessment period. The factors encouraging the demand for home theater systems in the APAC market include the surging purchasing power of the consumers and prevalence of developing economies. The market resonates strong growth opportunities and has attracted outlays from global players for initiating new manufacturing units. This, consequently, is likely to spur the revenue generation for the home theater market players over the assessment period.
LIST OF TABLES
TABLE 1 HOME THEATRE MARKET, BY COMPONENT
TABLE 2 HOME THEATRE MARKET, BY TYPE
TABLE 3 HOME THEATRE MARKET, BY REGION
TABLE 4 NORTH AMERICA HOME THEATRE MARKET, BY COMPONENT
TABLE 5 NORTH AMERICA HOME THEATRE MARKET, BY TYPE
Continued…….
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LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 HOME THEATRE MARKET: BY COMPONENT (%)
FIGURE 3 HOME THEATRE MARKET: BY TYPE (%)
FIGURE 4 HOME THEATRE MARKET: BY REGION (%)
FIGURE 5 NORTH AMERICA HOME THEATRE MARKET, BY COMPONENT (%)
Continued…….
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Organization: Market Research Future
Website: https://www.marketresearchfuture.com/reports/home-theatre-market-4121
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