The Home Theatre Systems Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Home Theatre Systems Global Market Report 2024, 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.
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.
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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
Increasing adaption of cloud services is becoming popular in the home theatre systems market. Cloud technology legally allows customers to watch videos and music online. Video streaming platforms are adapting cloud technologies for providing a better viewing experience. For example, earlier consumers used television for watching videos, and now the customers are preferring an access-based approach that allows them to subscribe to video libraries in the cloud. Therefore, companies in the home theatre systems market are manufacturing advanced systems that can be connected to the internet to access the videos online.
The home theatre systems market report table of contents includes:
1. Executive Summary
2.Home Theatre Systems Market Characteristics
3.Home Theatre Systems Market Trends And Strategies
4.Home Theatre Systems Market analysis
5.Home Theatre Systems Market Size And Growth
6.Home Theatre Systems Segmentation
7. Home Theatre Systems Regional And Country Analysis
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27.Home Theatre Systems Competitive Landscape And Company Profiles
28.Home Theatre Systems Key Mergers And Acquisitions
29.Home Theatre Systems Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
Samsung Electronics Co. Ltd.
Sony Corporation
Panasonic Corporation
LG Electronics Inc.
Toshiba Corporation
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It also consists of audio and video systems created to have the same effect like the one in theatre.
Market Dynamics Home theatre systems have gained considerable demand among consumers over the last few years.
This is attributed to the rising income levels of the population across the globe and the desire to spend more on entertainment solutions.
There is a steady growth in the number of stores selling large-scale high-resolution televisions, projectors, and home theatre systems.
Key Players The key participants identified by MRFR operating in the home theatre market are - Bose Corporation (U.S.), Akai Electronics (Japan), LG Electronics (South Korea), Sony Corporation (Japan), Panasonic Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), Koninklijke Philips N.V., (Netherlands), Bowers & Wilkins (U.K.), Atlantic Technology (U.S.), Toshiba Corporation (Japan) among others.
Sony Corporation has developed a diverse range of home theatre systems designed to provide 1,950 power output and 5.2-inch surround sound.
Media RoomHave you ever dreamed of the ultimate home theatre system?
Do you see examples of these systems on television with speakers in every corner of the room, linking up to one massive screen?
It is like having a movie theatre right inside the home!
A setup like this is not a dream; it is more within reach than you think!
Our team at Advanced Home, working with a great solution like Control4 technology, can bring it to you.
