Home Entertainment Devices Market by Type (Audio Equipment, Video Devices, and Gaming Consoles), Mode of Connectivity Type (Wired Devices and Wireless Devices), and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2022–2031
The global home entertainment devices market size was valued at $264,655.3 million in 2020, and is projected to reach $545,147.9 million by 2031, registering a CAGR of 6.2% from 2022 to 2031.
Home entertainment devices include products and systems used in domestic or personal context for entertainment purposes in contrast to the devices used for business, industrial or professional recording purposes. The home entertainment devices market includes several consumer electronic products, such as television sets, video players and recorders, audio equipment, and gaming devices. Over the past few years, there has been a significant rise in consumer spending on entertainment products mainly due to the increase in disposable income and development of innovative entertainment solutions from manufacturers. The market growth for entertainment products also witnessed substantial growth due to increase in digitization of electronic goods, rapid innovations in existing products, drop in prices of entertainment products, and rise in techno-savvy population in emerging countries. However, increase in consumer shift towards mobile platforms and regulations on the frequency range of audio devices hamper the market growth for these products.
Sony Corporation, Samsung Group, LG Electronics, Toshiba Corporation, Panasonic Corporation, Microsoft Corporation, Apple Inc., Hitachi Ltd, Sharp Corporation, and Mitsubishi Electric Corporation are some of the leading players in this market. These companies develop innovative and energy efficient products in the market by investing significant amount in R&D and also by forming collaborative partnerships. For instance, in September 2016, Panasonic Corporation and Berliner Philharmoniker collaborated to develop audio-visual technologies, enhancing 4K/HDR video and hi-resolution audio platforms for home entertainment. This technology is expected to create an authentic live concert hall experience in the home and in-car environment.
In December 2015, LG launched wireless sound bars and X-boom audio systems, adding two new products in its music flow line-up. These sound bars are sleek, and have a slim design that blends in seamlessly with almost any interior décor. The devices are equipped with wireless subwoofers that provide rich bass tones to compliment the home theatres speakers’ audio output.
Samsung Electronics Co., Ltd. declared in May 2019 that all Samsung Smart TVs as well as select 2018 Apple TV models will include the recently released Apple TV application and support AirPlay 2 in over 100 countries. Customers will be able to watch Apple TV channels as well as iTunes TV episodes and movies on Samsung smart TVs.
The home entertainment devices market has been segmented on the basis of type, mode of connectivity type, and by region. The type segment includes audio equipment, video equipment, and gaming consoles. The audio equipment segment is further segmented into home theatre in-a-box (HTiB), audio systems, home radios, sound bars, headphones, and others (accessories, speakers, microphones, AV receivers, others). The video equipment segment is further categorized into televisions, DVD/Blue ray players, digital streaming devices, projectors, and DVR sets. On the basis of mode of connectivity type, the market is segmented into wireless devices and wired devices. On the basis of distribution channel, the market is bifurcated into offline and online. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA regions.
KEY BENEFITS FOR STAKEHOLDERS
This report provides quantitative analysis of the current home entertainment devices market trends, estimations, and dynamics from 2022 to 2031, which assist to identify the prevailing home entertainment devices market opportunities.
Major countries in each region have been mapped based on the revenue contribution to the global market.
Market player positioning of the industry has been provided to provide a clear understanding of their competitive strengths.
Porter's Five Forces analysis is used to illustrate the potential of suppliers and buyers in the industry.
Comprehensive analysis of factors that drive and restrict the growth of home entertainment devices is provided.
The report focuses on the regional & global market, the key players, and market segments apart from a detailed study on the divisions and application areas.
KEY MARKET SEGMENTS
By Type
Audio Equipment
Video Devices
Gaming Consoles
By Mode of Connectivity Type
Wired Devices
Wireless Devices
By Distribution Channel
Offline
Online
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
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