Global Home Theater Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at 18.5% through 2020 to 2027, reaching US$ XX Bn.
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Global Home Theater Market Drivers and Restrains:
Home Theater is an entertainment system for the home that usually consists of a large television with video components (such as a DVD player and VCR) and an audio system offering surround sound to recreate the experience of watching a movie in a theater. Consumers focus has been shifting towards home entertainment and theatre solutions due to rising rates of movie tickets. This trend has encouraged consumers to spend on high-quality speaker systems as they create a cinematic experience in their homes. The increasing number of smart homes that are equipped with connected communication devices are fueling the demand for home theatre.
The global home theater market is driven by the growing income levels of the population around the globe and the desire to spend more on entertainment solutions. There is a growing trend of offering connectivity feature with home theatre systems, are also projected to impelling the market growth in the forecast period. However, the high installation cost of the home theater is restraining the market growth at the global level. The availability of low-priced in stand-alone speakers is the major challenge for the Home Theater market in the near future.
Global Home Theater Market Segmentation Analysis:
Based on the type, the offline distribution channel segment has led the home theatre market and held the dominant market share of 60% in 2019. The availability of compatible products for audio equipment works as an advantage of retail stores. However, the online distribution channel segment is expected to witness a growth rate of 9.0% during the forecast period owing to the rising demand in telecommunication network devices. During the last few years, customer’s reliance is increasing in buying high-value products over e-commerce due to better delivery conditions, coupled with the accessibility of a wider range of payment options and product options. Asia and North America have been witnessing significant growth of XX% in online customer electronics sales. Best Buy, Amazon, TigerDirect, Newegg, Buy.com and JR.com are the main online retailers in the consumer electronics sector.
Global Home Theater Market Regional Analysis:
Geographically, the Home Theater market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the prominent market share of 40.0% in 2019 and is expected to reach US$ Mn by the end of 2027, with a CAGR of XX%. Thanks to rising demand from consumers towards high-quality audio and sound systems. The U.S. and Canada are the leading contributors to regional market growth. Among these, The U.S. was accounted for XX% share in the total market revenue in 2019 owing to More than 40.0% of the U.S. households own a home theater system. The market in Asia Pacific is expected to grow at a high CAGR of XX% during the forecast period thanks to the emergence of growing economies from the region and an increase in the purchasing power of people. Many small and medium-sized market players from the region are contributing to the market growth. The rising investments in research and development activities for the introduction of advanced home theater products are predicted to accelerate the growth of this region in the near future.
A report covers the recent development in market for the global home theater market e.g., Apr 2019 – Sonos, Inc. has work in partnership with IKEA for evolving smart speakers and audio systems.
In Aug 2018 – Samsung has work in partnership with Harman International to deliver perfect sound in a new soundbar lineup.
July 2019 – Samsung has announced a new Home theatre system for the expansion of its audio components.
July 2019 – Sony Corp. has introduced HT-X8500 Soundbar, a Dolby Atmos/DTS:X single soundbar and new HT-S350 Soundbar for present ultimate home theatre experience.
The objective of the report is to present a comprehensive analysis of the Global Home Theater Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Home Theater Market dynamics, structure by analyzing the market segments and project the Global Home Theater Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Home Theater Market make the report investor’s guide.
Scope of the Global Home Theater Market:
Global Home Theater Market, by Product:
• Home Theatre in a Box System (HTIB)
• Sound Bar
• Component System
• Component Separate
Global Home Theater Market, by Component:
• Sound & Display Systems
• Media Players
• Storage Devices
Global Home Theater Market, by Distribution Channel:
Global Home Theater Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Home Theater Market, Major Players:
• Bose Corporation
• Sonos, Inc.
• Bowers &Wilkins Inc.
• Atlantic Technology Inc.
• LG Corporation (LG Electronics)
• Panasonic Corporation
• Samsung Electronics Co., Ltd. (Samsung Group)
• Sony Corporation
• Koninklijke Philips N.V. and
• Toshiba Corporation
• Definitive Technology
• GoldenEar Technology
• Yamaha Corporation
• Pioneer Corporation
• Harman International
• Sharp Corporation
• Monitor Audio
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