Overview and Scope
A home theater system is defined as an audio-video system for a home that consists of a large television with video components and a digital surround-sound audio system. It simulates watching a movie on small multiplex cinema screens.
Sizing and Forecast
The home theatre systems market size has grown rapidly in recent years. It will grow from $31.97 billion in 2023 to $38.28 billion in 2024 at a compound annual growth rate (CAGR) of 19.7%. The growth in the historic period can be attributed to rising entertainment and media consumption trends, rising disposable income and affordability, home entertainment and stay-at-home culture, expansion of smart home ecosystems, advancements in audio technologies.
The home theatre systems market size is expected to see exponential growth in the next few years. It will grow to $80.45 billion in 2028 at a compound annual growth rate (CAGR) of 20.4%. The growth in the forecast period can be attributed to premiumization and high-end features, growth in home renovation and design trends, streaming services and content consumption, integration with smart home automation, changing consumer lifestyles and preferences. Major trends in the forecast period include compact and aesthetically pleasing designs, streaming service partnerships, customization and modularity, growth of soundbars, integration of ai and machine learning.
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The home theatre systems market covered in this report is segmented –
1) By Product : Home Theatre In A Box System (HTIB), Sound Bar, Component System
2) By Distribution Channel: Online, Offline
3) By Application: Household Use, Commercial Use
Asia-Pacific was the largest region in the home theatre systems market share in 2023. The regions covered in the home theatre systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in disposable incomes was a major driver of the home theatre systems market. The rise in disposable incomes was mainly driven by economic growth and middle-class population growth in developing countries such as China, India, and Brazil. According to the World Bank, the world’s middle-class population – defined as that earning between $10 and $100 per day – The world’s Middle-Income Countries (MICs) are a diverse group by size, population, and income level with a GNI per capita between $1,036 and $4,045, and upper-middle-income economies with a GNI per capita between $4,046 and $12,535 (2021). Middle-income countries are home to 75% of the world’s population and 62% of the world’s poor. At. In 2021, India’s economy has grown by 7.2 percent 2021. The growth rate in Per Capita Income in India is estimated at 4.3 percent during 2019-20, as against 5.6 percent in the previous year. Increased earnings greatly increased disposable incomes in the emerging markets, increasing the demand for the home theatre systems market.
Key Industry Players
Major companies operating in the home theatre systems market report are Samsung Electronics Co. Ltd., Sony Corporation, Panasonic Corporation, LG Electronics Inc., Toshiba Corporation, Akai Electric Co. Ltd., Sharp Corporation, Koninklijke Philips N.V., Pioneer Corporation, Harman International Industries Inc., Yamaha Corporation, Bose Corporation, Bang & Olufsen A/S, JVC Kenwood Corporation, Sonos Inc., VOHome Theatre Systems International Corporation, Sound United LLC, Denon & Marantz Holdings Inc., Bowers & Wilkins Ltd., Creative Technology Ltd., Onkyo Corporation, Klipsch Group Inc., Emotiva Audio Corporation, Paradigm Electronics Inc., Monitor Audio Ltd., Meridian Audio Ltd., MartinLogan Ltd., Definitive Technology, GoldenEar Technology, Atlantic Technology Inc., Audyssey Laboratories Inc., Crystal Semiconductor Corp., Super League Gaming, Control4 Corporation, Avegant Corp.
The home theatre systems market report table of contents includes:
1. Executive Summary
2. Home Theatre Systems Characteristics
3. Home Theatre Systems Trends And Strategies
4. Home Theatre Systems – Macro Economic Scenario
5. Global Home Theatre Systems Size and Growth
…..
32. Global Home Theatre Systems Competitive Benchmarking
33. Global Home Theatre Systems Competitive Dashboard
34. Key Mergers And Acquisitions In The Home Theatre Systems
35. Home Theatre Systems Future Outlook and Potential Analysis
36. Appendix
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