Home Theater Market Driver and Challenge Highlights
The rising disposable incomes will be the key home theater market driver during the forecast period. The increase in purchasing power, especially in developing economies, will drive the demand for advanced audio/video systems, such as home theaters. In addition, the growing initiatives from governments of the advanced and emerging economies toward increasing residents' per capita disposable income will further fuel the purchase of advanced audio/video home theater systems during the forecast period. Furthermore, the growing popularity of smart homes will further pave way for the increased adoption of home theater devices.
However, the high cost of home theaters and the easy availability of counterfeit products are factors that are expected to hinder the market growth during the forecast period. Counterfeit products pose a major challenge to the market, especially in APAC. Several scam websites market and sell fake home theaters at lower prices. The market value is affected because of the inferior quality of these products, in turn, hindering the market's growth during the forecast period.
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Home Theater Market Segment Highlights
- The home theater market is segmented by product into home theater speakers and soundbars.
- The home theater speakers segment held the largest product share in 2020 and will continue to retain their dominance in the market during the forecast period.
- The demand for such products will primarily come from high-income regions.
- Vendors are introducing new speakers with innovations in terms of design and functionality.
- Also, home theater market players are also bundling products, such as home theater speakers and soundbars, to increase their sales.
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Home Theater Market Regional Analysis
- APAC was the largest revenue-generating economy of home theater market in 2020.
- The region is likely to contribute over 47% of the growth during the forecast period.
- The growth can be attributed to the increase in the disposable income of the population in the emerging economies of the region.
- China, Japan, and India are expected to be the major contributors to the market in the region during the forecast period
- Market growth in this region will be faster than the growth of the market in other regions.
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Notes:
- The home theater market will witness a YOY growth rate of 3.95% in 2021.
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Bose Corp., Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, Pioneer Corp., Samsung Electronics Co. Ltd., Sony Group Corp., Toshiba Corp., and Yamaha Corp.
- Vendors are competing on several factors, such as product portfolio, quality of products, reliability of products, and other factors.
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Home Theater Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
Market growth 2021-2025 |
USD 3.23 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.95 |
Regional analysis |
APAC, Europe, North America, MEA, and South America |
Performing market contribution |
APAC at 47% |
Key consumer countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Bose Corp., Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, Pioneer Corp., Samsung Electronics Co. Ltd., Sony Group Corp., Toshiba Corp., and Yamaha Corp. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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