Global Home Entertainment Market, By Product Type (Audio Equipment, Video Equipment, Gaming Consoles), Connectivity (Wired, Wireless), Distribution Channel (Offline, Online) – Industry Trends and Forecast to 2030.
Home Entertainment Market Analysis and Size
The market for home entertainment is propelled by a convergence of factors, notably heightened health and hygiene awareness, accelerated demand during the global COVID-19 pandemic, and the convenience and versatility these wipes offer. With an emphasis on cleanliness in response to the pandemic, the ease of use, portability, and suitability for various surfaces contribute to their widespread adoption. Institutional use in workplaces, schools, and healthcare facilities, combined with effective marketing strategies emphasizing product efficacy and regulatory compliance, further drives consumer confidence.
Data Bridge Market Research analyses that the home entertainment market which was USD 275.85 billion in 2022, is expected to reach USD 384.25 billion by 2030, and is expected to undergo a CAGR of 4.23% during the forecast period 2023. “ Audio equipment” dominates the product type segment of the home entertainment market due to its capacity to deliver an enriched and immersive audio experience. Whether through home theater systems providing a cinematic feel, high-end speakers catering to audiophiles and music enthusiasts, or gaming headsets intensifying the gaming experience, audio equipment adds a layer of depth and realism to various forms of entertainment. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
Home Entertainment Market Scope and Segmentation
Report Metric |
Details |
Forecast Period |
2023 to 2030 |
Base Year |
2022 |
Historic Years |
2021 (Customizable to 2015-2020) |
Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
Segments Covered |
Product Type (Audio Equipment, Video Equipment, Gaming Consoles), Connectivity (Wired, Wireless), Distribution Channel (Offline, Online) |
Countries Covered |
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa |
Market Players Covered |
SAMSUNG (South Korea), SONY INDIA (Japan), L.G. Electronics (South Korea), Google LLC (U.S.), Panasonic Corporation (Japan), SHARP CORPORATION (U.S.), Koninklijke Philips N.V. (Netherlands), Hitachi Ltd. (Japan), TCL (China), Skyworth Group Limited (China), Haier Group (Hong Kong), TOSHIBA CORPORATION (Japan), Videocon Industries Limited (Mumbai), Grande Holdings Company Limited (Hong Kong), Xiaomi (China), Hisense International (China), VIZIO, Inc. (U.S.), INSIGNIA SYSTEMS (U.S.), Apple Inc (U.S.) |
Market Opportunities |
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Market Definition
Home entertainment devices are those electronic gadgets through which consumers can view movies, listen music and other numerous entertainment activities. Home entertainment devices comprises consumer electronic products such as video players and recorders, audio equipment, television sets, and gaming devices.
Global Home Entertainment Market Dynamics
Drivers
- Rising Demand for Smart Television
The increased demand for personalized entertainment is expected to accelerate the home entertainment market's growth rate. In the past, people used to visit movie theatres or flipped through satellite television channels but in the recent times, Smart T.V.s offer this facility by connecting to the internet. This is allowing users to subscribe to their preferred online streaming services such as Amazon Prime and Netflix.
- Integration of Internet in Home Entertainment Devices
The integration of internet content with the home entertainment devices are proven to improve the consumer experience as they can play music, control several smart devices and provide information on news and weather. This is expected to increase the demand for internet-enabled devices such as disc players, televisions, and gaming consoles which boost the growth of the home entertainment market over the forecast period. Furthermore, increasing penetration towards internet and smartphones has led to growing awareness regarding wireless network connectivity and digital technology, which is a vital factor responsible for the growth of the home entertainment market.
Opportunities
- Advancements and Investments
The advancement in entertainment technology and better connectivity and accessibility further extend the immense opportunities to the major market players in upcoming years. Moreover, the investing in home entertainment games that use VR and AR technology coupled with the introduction of hybrid games will further expand the future growth of the home entertainment market.
- Convenience Demand Streaming Services Growth
The rise of streaming platforms presents a significant growth opportunity. Consumers increasingly prefer on-demand content, providing a lucrative market for streaming services. Streaming services offer the convenience of accessing a vast library of content on-demand. Viewers can watch their favorite movies, TV shows, documentaries, and original content whenever they want, eliminating the need to adhere to traditional broadcast schedules.
Restraints/Challenges
- Piracy and Copyright Issues
The digital nature of home entertainment makes it susceptible to piracy. Protecting intellectual property and preventing unauthorized distribution are ongoing challenges. Digital piracy involves the unauthorized distribution and reproduction of copyrighted content, including movies, music, software, and games. This is often facilitated through file-sharing websites, torrent platforms, and peer-to-peer networks.
- Competition and Saturation
The market's saturation and intense competition may make it difficult for new entrants to establish a foothold, and existing players may face challenges in maintaining market share. Adhering to manufacturer guidelines and working with experienced HVAC professionals can provide valuable insights and ensure proper maintenance practices are followed. Also, the lack of favorable reimbursement scenarios and technology penetration in the developing economies, heavy custom duty imposed on medical devices, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2023-2030.
This global home entertainment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global home entertainment market Contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Development
- In April 2021, Samsung had launched its ultra-high-end Neo QLED TV line for a cinematic watching experience. This new range has a true-to-life picture quality and nearly bezel-less infinity one design. There will be five sizes available: 65-inch (1m 63cm), 55-inch (1m 38cm), 85-inch (2m 16cm), 75-inch (1m 89cm) and 50-inch (1m 38cm) (1m 25cm). Moreover, Samsung’s unique Neo Quantum Processor with better upscaling capabilities is included in Neo QLED TVs. This Neo Quantum Processor can maximize the quality of picture to 4K and 8K output regardless of input quality by using up to 16 separate neural network models, each trained in A.I. deep and upscaling and learning technologies
Global Home Entertainment Market Scope
The global home entertainment market is segmented on the basis of product type and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Audio Equipment
- Video Equipment
- Gaming Consoles
- Connectivity
- Wired
- Wireless
Distribution Channel
- Offline
- Online
Global Home Entertainment Market Regional Analysis/Insights
The global home entertainment market is analysed and market size insights and trends are provided by country, product type and distribution as referenced above.
The countries covered in the global home entertainment market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
North America dominates the home entertainment market due to the increasing adoption rate of new technologies, increasing existence of major companies and growing demand for these devices among tech-savvy population in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increasing availability of raw material and labor at lesser cost in emerging nations such as India and China along with inclination towards entertainment and leisure activities in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Home Entertainment Market Share Analysis
The global home entertainment market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the global home entertainment market.
Some of the major players operating in the global home entertainment market are:
- SAMSUNG (South Korea)
- SONY INDIA (Japan)
- L.G. Electronics (South Korea)
- Google LLC (U.S.)
- Panasonic Corporation (Japan)
- SHARP CORPORATION (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Hitachi Ltd. (Japan)
- TCL (China)
- Skyworth Group Limited (China)
- Haier Group (Hong Kong)
- TOSHIBA CORPORATION (Japan)
- Videocon Industries Limited (Mumbai)
- Grande Holdings Company Limited (Hong Kong)
- Xiaomi (China), Hisense International (China)
- VIZIO, Inc. (U.S.)
- INSIGNIA SYSTEMS (U.S.)
- Apple Inc (U.S.)
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