USD 8.52 billion
Global Home Theater Market Size, Share, Growth Analysis, By Product Type(Box System, Sound Bar), By Components(Sound & Display System, Media Player), By Distribution Channel(Specialty Stores, Online Retail) - Industry Forecast 2024-2031
Report ID:
SQMIG25E2031 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
89 |
Figures:
76
Global Home Theater Market Insights
Global Home Theater Market size was valued at USD 8.52 billion in 2019 and is poised to grow from USD 10.1 billion in 2023 to USD 46.68 billion by 2031, growing at a CAGR of 18.54% in the forecast period (2024-2031).
A home theater system is a collection of various electronic parts intended to imitate the experience of a movie theater at home. These systems are made up of a variety of fundamental parts, such as a video display, an A/V receiver to simulate surround sound, and a video source.
A significant driver of home theater market growth over the course of the forecast is the increasing prevalence of smart homes in different parts of the world. Smart houses are buildings with a wide range of interconnected technologies that can talk to one another and provide better living conditions. According to studies, about half of the millennial population in the US currently uses a smart device. The demand for smart home devices, such as home theater systems, which can change the entertainment ecology inside the home, has significantly increased as a result of the accelerated expansion of small and affordable processing power and extensive connection. All these factors are expected to propel the global home theater market, over the forecast period.
US Home Theater Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Specialty Stores
Fastest Growth
Specialty Stores
Growth Rate
18.54% CAGR
Global Home Theater Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Home Theater Market Size By Distribution Channel 2022-2028 ($ Bn)
Global Home Theater Market Size By Distribution Channel 2022-2028 (%)
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Global Home Theater Market Segmental Analysis
The Global Home Theater Market is segmented based on product type, component, distribution channels and region. Based on the product type, it is categorized into Box System, Sound Bar, and Component System. Based on the component, it is categorized into Sound & Display System, Media Player, and Storage Device. Based on the distribution channels, it is categorized into Specialty Stores, and Online Retail. Based on region, Home Theater Market is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Home Theater Market Analysis by Product Type
On the basis of product type, the sound bar segment is currently dominating the global home theater market, and is projected to continue its dominance over the forecast period. The product has numerous speakers built into its cabinet that produce surround sound and a stereo effect. Compared to traditional HTIB, sound bars are simpler to install.
The manufacturers have started releasing soundbars with Bluetooth connections during the past few years. Due to the fact that the majority of consumers utilize entertainment devices with a Bluetooth connection, this capability has become increasingly important for sound bars. These goods are also less expensive than home theater in a box systems. As a result, it is projected that sound bars would become increasingly popular among consumers, during the forecast period.
Home Theater Market Analysis by Distribution Channel
On the basis of distribution channel, the specialty store segment currently dominates the global home theater market, due to the different variety of products available which helps the consumers in selecting compatible products for their audio equipment.
On the other hand, the online retail segment is projected to grow significantly, over the forecast period. Due to better delivery conditions and the availability of a wider range of payment alternatives during the past few years, buyers' faith in buying high-value products through e-commerce has grown. Online sales of consumer electronics have increased significantly in both Asia and North America. Online consumer electronics sales in the United States have mostly been driven by e-commerce.
Global Home Theater Market By Distribution Channel, 2021 (%), 2023 (%)
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Global Home Theater Market Regional Insights
Based on the region, the North American region currently dominates the global home theater market with respect to market share, due to the huge consumer expenditure on home theater-related products in Canada and the United States, such as theater boxes, projectors, soundbars, and others. As a result, the North American region generates more revenue from such devices. Additionally, the region's consumption of these products is likely to be supported by the population's growing reliance on interactive, high-quality entertainment services.
The Asia Pacific is the next region that is expected to grow significantly over the forecast period. This growth is attributable to the expanding presence of home theater equipment makers like Sony Corporation, The Samsung Group, and many others in India and China, which is projected to support the consumption rate of home theater goods by households in the region. Furthermore, rising customer preferences for a personalized home theater system are propelling regional home theater market expansion.
Global Home Theater Market By Geography, 2022-2028, 2024-2031
- Largest
- Fastest
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Global Home Theater Market Dynamics
Home Theater Market Drivers
- Increasing demand for home theater devices: The home theater market is anticipated to rise as consumer spending increases on products connected to home entertainment, including home theater systems, soundbars, headphones, and other items. Furthermore, increasing consumer use of 3D sound system-based, compact-sized home theater equipment is projected to open up further potential for market expansion.
Home Theater Market Restraints
- The high installation cost of home theaters is projected to limit the market expansion: The hefty installation cost of home theaters is expected to discourage consumers from using them, due to the availability of inexpensive stand-alone speakers.
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Global Home Theater Market Competitive Landscape
The industry is extremely competitive, with both established and new firms. Manufacturers of home theater systems have been partnering with producers of smart TVs, particularly smart TVs, during the past few years as part of a product bundling marketing strategy. Typically, flat-screen and skinny TVs don't have good internal speakers. As a result, TV makers mix audio equipment with TV and market the resultant package.
Home Theater Market Top Players Company Profiles
- Samsung Electronics Co., Ltd.
- Sony Corporation
- LG Electronics Inc.
- Panasonic Corporation
- Yamaha Corporation
- Harman International Industries, Inc.
- Bose Corporation
- Koninklijke Philips N.V.
- Onkyo Corporation
- Sharp Corporation
- Pioneer Corporation
- Bose Corporation
- Bowers & Wilkins
- Definitive Technology
- GoldenEar Technology
- Klipsch Audio Technologies
- MartinLogan
- Paradigm Electronics Inc.
- Polk Audio Inc.
- Sonos Inc.
Home Theater Market Recent Developments
- In June 2022, Samsung released their 2022 soundbars including an 11.1.4-channel flagship with wireless Dolby Atmos.
- In February 2022, Sony India launched a new home theater system range. The range models have features like 360 Spatial Sound Mapping Technology, Dolby Atmos and DTS:Xtechnology, High-Resolution and 360 Reality Audio among others.
Global Home Theater Key Market Trends
- Increasing demand for multi-use entertainment: In the past, a home theater was created as a space reserved only for watching movies. While this specific strategy is still used today, home theaters that support other forms of amusement are becoming more and more popular. A multipurpose entertainment space makes a lot of sense for many families. Designing the room to accommodate other activities, such as watching sporting events, playing video games, listening to music, practicing yoga, or any other activity offers more value for the money since they may not have the free space or money to dedicate a significant portion of their homes to movie viewing. The architecture of the space must reflect the diverse nature of home entertainment. For instance, it's become more crucial to have large, open floor space for exercising and interactive gaming rather than outfit the area with stadium-style seating. Additionally, lighting needs to be more versatile; for example, it should be brilliant during sporting events, calm and quiet for listening to music, and entirely black for watching movies.
Global Home Theater Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global home theater market is currently led by countries in the North American region, due to the huge consumer expenditure on home theater-related products in the region. Along with this, the soundbar segment of home theater devices are dominating the market due to the numerous speakers built into its cabinet which produce surround sound and a stereo effect, which is expected to support the growth of the market over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.52 billion |
| Market size value in 2031 | USD 46.68 billion |
| Growth Rate | 18.54% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Home Theater Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Home Theater Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Home Theater Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Home Theater Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Home Theater Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Home Theater Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Home Theater Market Report Snapshots
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