A $17.8 Billion Global Opportunity for Home Theaters by 2026 - New Research from StrategyR

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Feb 02, 2022, 10:05 ET

SAN FRANCISCO, Feb. 2, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Home Theaters - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 19; Released: January 2022
Executive Pool: 2012
Companies: 70 - Players covered include Atlantic Technology Inc.; Bose Corporation; Bowers & Wilkins; Hometech Digital Pvt. Ltd. (AKAI); Koninklijke Philips NV; LG Electronics, Inc.; Panasonic Corporation; Samsung Electronics Co., Ltd.; Sony Corporation; Toshiba Corporation and Others.
Coverage: All major geographies and key segments
Segments: Product (Home Theatre In A Box Systems (HTIB), Sound Bars, Component Systems); Distribution Channel (Offline, Online)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Home Theaters Market to Reach US$17.8 Billion by the Year 2026
A home-theater is basically a system that can be used to create a movie theater environment at home. The set up comprises a television and audio/video equipment specifically meant to reproduce the cinema-style entertainment at home. Increasing demand for home theatres can also be attributed to rapid evolution of these systems along with affordability and incorporation of sophisticated features. Homeowners planning to get rid of wired systems without compromising over the sound quality are embracing minimal audio equipment with powerful performance. The market is witnessing increasing influx of wireless audio equipment with inbuilt components. Various companies are offering advanced speakers with built-in amplifiers, eliminating the need to buy separate units. In addition, several players are coming up with souped-up soundbars featuring inbuilt tweeters and woofers for a compact footprint. The integration of audio and video systems with smart appliances is emerging as a prominent trend, enabling immersive experiences. Audio equipment with emerging technologies like IoT, AI and VR are likely to elevate sound quality, comfort and convenience. VR headsets are anticipated to find broader acceptance among young customers and take the entire audio-visual experience to a new level. The market growth is anticipated to be also favored by the smart home trend that allows customers to connect their appliances and audio systems for enhanced interaction. The smart home approach allows users to remotely control their home audio systems through smartphones. The increasing popularity of cloud-based and pay-per-use services is providing users with the option to access music and video online legally.

Amid the COVID-19 crisis, the global market for Home Theaters estimated at US$11.1 Billion in the year 2020, is projected to reach a revised size of US$17.8 Billion by 2026, growing at a CAGR of 8% over the analysis period. Home Theatre In A Box Systems (HTIB), one of the segments analyzed in the report, is projected to grow at a 7.5% CAGR to reach US$11.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Sound Bars segment is readjusted to a revised 9.3% CAGR for the next 7-year period. This segment currently accounts for a 25.5% share of the global Home Theaters market. Soundbars offer high grade sound quality when compared to the integrated Digital TV speakers and are extremely compatible with various electronic systems and do not compromise on visual aesthetics as in home theater systems. The credit for the proliferation of soundbars also goes to the ever-growing Digital TV mania. The form factor of soundbars fits in perfectly with the design aesthetics of a flat-panel television and therefore proves to be a competitor for in-wall speakers.

The U.S. Market is Estimated at $4.2 Billion in 2021, While China is Forecast to Reach $2.8 Billion by 2026
The Home Theaters market in the U.S. is estimated at US$4.2 Billion in the year 2021. The country currently accounts for a 34.2% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.8 Billion in the year 2026 trailing a CAGR of 11.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.1% and 6.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.2% CAGR while Rest of European market (as defined in the study) will reach US$1.1 Billion by the end of the analysis period.

Component Systems Segment to Reach $2 Billion by 2026
In the global Component Systems segment, USA, Canada, Japan, China and Europe will drive the 6.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$997.2 Million in the year 2020 will reach a projected size of US$1.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$207.9 Million by the year 2026, while Latin America will expand at a 7.9% CAGR through the analysis period. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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