The market includes several consumer electronic products such as television sets, video players & recorders, audio equipment, and gaming devices. Over the past few years, there is a significant rise in consumer investments in entertainment products mainly owing to the increase in disposable income and development of innovative entertainment solutions from manufacturers.
Global home entertainment market is estimated to reach $294,969 million by 2022. Home entertainment market includes products and systems used in domestic or personal context.
The global market witnesses substantial growth due to increase in digitization of electronic goods, rapid innovations in existing products, decline in prices, and increase in tech-savvy urban population in developing countries. However, the market growth for these products is mitigated by increase in consumer shift toward mobile platforms and consumer apprehensions due to adverse effects on health from audio equipment and wireless devices.
The global home entertainment market is segmented based on product type, connectivity, and geography. Based on the product type, the market is divided into audio devices, video devices, and gaming consoles.
The audio devices segment includes into home theatre in-a-box (HTiB), audio systems, home radios, sound bars, headphones and others. The video devices segment comprises televisions, Blue-ray & DVD players, projectors, DVRs, and streaming devices.
By geography, the market is analyzed across four regions, namely, North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
Based on product type, the market was dominated by video devices segment in 2015. The video devices segment was majorly dominated by the television segment.
The market growth for televisions is supported by the growth in customer demand for smart TVs. Smart TVs presently make up only small portion of overall sales, the adoption of these devices is expected to grow with increase in customer demand for web-based content.
Asia-Pacific was the most dominant geographical market for home entertainment market in 2015. It is largely driven by the growth in disposable income and growth in tech-savvy urban population from major countries such as China and India.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global home entertainment market, with current trends and future estimations to elucidate the imminent investment pockets.
- The report provides information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
- Porter’s Five Forces Model illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants and substitutes, and strength of buyers and suppliers operating in the market.
- The value chain analysis signifies the key intermediaries involved and elaborates their roles and value additions at every stage.
- The quantitative analysis of the market from 2014 to 2022 is provided to elaborate the market potential.
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