This global market research analyzes the key trends, drivers, and challenges that influence the home theater market. It also provides a detailed segmentation and analysis of the key geographies like the Americas, APAC, and EMEA. Leading vendors analyzed in this market research report are Bose, LG Electronics, Panasonic, Samsung Electronics, and Sony.
Technavio’s market research analysts estimate the global home theater market to grow at a CAGR of more than 8% between 2016 and 2020. Rise in the number of smart homes across the globe has led to growing demand for smart media and entertainment gadgets and smart consumer electronics like home theatre systems. The Americas dominate the global market for home theaters, accounting for 40% of the total market share. The high market share of this region can be attributed to the growing preference of the consumers towards better visual and audio effects.
The new market research report from Technavio provides a breakdown and analysis of the home theatre segments by technology.
“Of late, the vendors are adopting various marketing strategies such as product bundling to boost the sales of home theatre systems. They are collaborating with smart TV manufacturers to bundle home theaters with smart TVs. TV manufacturers are bundling audio devices like high built-in speakers with flat-screen and slim TVs, and selling them as a single product. Moreover, vendors are also offering home theaters with gaming consoles to enhance the gaming experience,” says Soumya Mutsuddi, Lead Analyst, Media & Entertainment, Technavio Research.
Recently, it has been observed that most of the audio systems are equipped with wireless features like Bluetooth and Wi-Fi connectivity. The ability of these devices to connect to portable devices like smartphones, tablets, and laptops is a significant factor that impels growth in this market during the forecast period. Also, vendors in the home audio market are manufacturing advanced home theater systems that can connect to the Internet and access online streaming content.
The leading vendors in the global home theater market include Bose, LG Electronics, Panasonic, Samsung Electronics, and Sony. This market is highly competitive and fragmented due to the presence of numerous large and small vendors. Intense competition, rapid advances in technology, and frequent changes in consumer preferences are examples of some factors that pose significant challenges to the vendors. These vendors compete with each other on the basis of performance, innovation, product features, quality, low cost, selling price, distribution, and financial stability to gain maximum prominence in this market during the forecast period.
A more detailed analysis is available in the Technavio report, Global Home Theater Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Home Audio Market 2014-2018
- Global Networked Audio Products Market 2015-2019
- Global Home Entertainment Equipment Market 2012-2016
- Home Entertainment Market in the US 2015-2019
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