Global Home Theater Market

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 News

  • 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.
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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).

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. '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.'

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.

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.

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.

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