Home Theatre Market is Estimated to Reach USD 31 Billion with a CAGR of 19% by 2030 | BOSE CORPORATION, LG ELECTRONICS
Research Reports
Dec 12, 2022
According to a recent report, the worldwide Home Theatre Market is expected to grow exponentially from 2020 to 2030, with a 19% CAGR. By the end of 2030, the market is expected to be worth USD 31 Bn. The rise in the entertainment and consumer electronics sectors bodes well for the companies in the home theatre market.
The demand for home theatres has increased over the past few years as a result of rising disposable income and living standards among people in both developed and developing countries. Over the course of the assessment period, the trend is likely to continue. Additionally, the established players’ new features are anticipated to fuel the home theatre market’s expansion in the ensuing years.
The main area of concentration for market players is the delivery of premium experiences. The experience of commercial theatres has been brought to customers’ doors thanks to investments. Next-generation technology like voice control systems, wireless surround sound, and other innovations have propelled the home theatre sector on an increasing trend. Additionally, the market for home theatres is projected to grow as movie ticket prices rise.
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It is anticipated that the home theatre market would expand even more as a result of the connectivity function that was created to connect various devices with home theatres. However, the market’s growth is projected to be restrained throughout the study period due to the growing reliance on smartphones for internet streaming and binge-watching movies.
Home Theatre Market Key Players:
- Bose Corporation (U.S.),
- Panasonic Corporation (Japan),
- Samsung Electronics Co., Ltd. (South Korea),
- LG Electronics (South Korea),
- Sony Corporation (Japan),
- Koninklijke Philips N.V. (Netherlands),
- Bowers & Wilkins (U.K.),
- Akai Electronics (Japan),
- Atlantic Technology
are a few of the major companies profiled in the report
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Regional Analysis:
One of the biggest markets for home theatre is in North America. The region’s home theatre market is anticipated to increase as a result of the presence of significant players and early adoption of new technologies. Over the next couple of years, it is anticipated that consumer electronics demand, particularly for home theatre systems, will increase, accelerating market growth. Additionally, the expansion of the home theatre market is likely to be positively impacted by developments in a broad range of sound systems.
Europe is a significant growing region and is expected to experience rapid expansion in the near future. The expansion of the regional market is anticipated to be fueled by the rise in demand for home theatre systems. During the projection period, Asia Pacific is anticipated to have the highest CAGR. The existence of quickly emerging economies and rising consumer spending power are two factors that are helping the home theatre market expand in the region. Strong growth prospects in the region have drawn investments from major international companies for the establishment of manufacturing facilities. In turn, it is anticipated that this will hasten the home theatre industry’s revenue growth in the years to come.
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Home Theatre Market Segmentation:
The worldwide home theatre market has been segmented into media players, storage devices, sound and display systems, and other categories based on component.
According to the speaker system, home theatres are segmented into a wide range of speaker types, including front speakers, back speakers, and subwoofers, on the international market. More information is provided about the centre speakers. The centre speaker gives the user a dynamic sound effect and projects the music and dialogue in a very realistic manner.
In movies, TV shows, web series, etc., the background ambience and sound effects are typically reproduced with the aid of surround speakers. Speaking is crystal clear, without any mumbling or stuttering, and the surrounding speakers are full of bandwidth bass projects. Home theatre in a box systems, soundbars, component systems, and component separate make up the four categories into which the global home theatre market has been divided based on audio types.
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