Global Home Entertainment Devices Market Size study & Forecast, by Device (Audio Devices, Video Devices, Gaming Consoles), by Distribution Channel (Offline, Online) and Regional Analysis, 2023-2030

Global Home Entertainment Devices Market Size study & Forecast, by Device (Audio Devices, Video Devices, Gaming Consoles), by Distribution Channel (Offline, Online) and Regional Analysis, 2023-2030

Global Home Entertainment Devices Market is valued at approximately USD 285.88 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.30% over the forecast period 2023-2030. Home Entertainment Devices are consumer electronics products through which users can watch Movies, listen to music, play games and perform other activities. These home entertainment devices consist of television sets, video players, gaming devices and much more. The Home Entertainment Devices market is expanding because of factors such as Rising demand for smart television, introduction of internet enabled home entertainment devices and increased spending on home entertainment devices. However, the shift of consumers to Smartphones and the negative effect of home entertainment tend to hinder market growth.

The surging demand for smart televisions is a significant catalyst behind the growth of the home entertainment devices market. In recent years, there has been a notable shift in consumer preferences towards smart TVs, which offer a wide array of interactive and internet-connected features, such as streaming services, apps, and web browsing. These televisions have become the centerpiece of modern home entertainment systems, providing a convenient and immersive viewing experience According to Statista, in year 2019 the revenue from sales of Smart TVs stood at 209.3 million units which is projected to reach at 266.4 million units by year 2025. These rising revenue indicates the adoption of devices, resulting in market growth. Moreover, the increase in spending on consumer electronics and the rise of digitization trends and innovation in electronics further act as an opportunity for the market.

The key regions considered for the Global Home Entertainment Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to changes in lifestyle and urbanization in this region, availability of raw materials and cheap labor in developing nations such as India and China. Moreover, the shift towards entertainment and leisure activities in this region is driving the market growth. Europe is expected to grow significantly over the forecast period, owing to factors such as product accessibility at economical prices and the popularity of devices. Moreover, there is a rise in demand for subscription-based video on demand services and OTT platforms in the region, resulting in market growth.

Major market player included in this report are:
Sony Corporation
Samsung Electronics Co. Ltd.
Panasonic Holdings Corporation
Microsoft Corporation
LG Electronics Inc.
Bose Corporation
Koninklijke Philips N.V.
Sennheiser electronic GmbH & Co. KG
Haier Group Inc.
Mitsubishi Electric Corporation

Recent Developments in the Market:
 In March 2023, Sony Electronics Inc. announced its BRAVIA XR TV Lineup, with Cognitive Processor XR, for a great home entertainment experience. Bravia XR consist of five new models X95L Mini LED, X93L Mini LED, X90L Full Array LED, A95L QD-OLED and A80L OLED. These models have features that provide customers with the ultimate experience for watching movies, streaming apps and more.
 In September 2022, Panasonic launched 20 new models of LED TVs (comprising of both 4K and Smart TV portfolio), 30-liter Microwave, Monster Super Mixer-Grinder with Double Safety Lock protection and a Miraie-enabled Washing Machine range with a built-in heater. Panasonic launched these products in the festive season with exciting offers to attract more customers to buy from Panasonic Corporation.

Global Home Entertainment Devices Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Device, Distribution Channel, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Device:
Audio Devices
Video Devices
Gaming Consoles

By Distribution Channel:
Offline
Online

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Sony Corporation
Samsung Electronics Co. Ltd.
Panasonic Holdings Corporation
Microsoft Corporation
LG Electronics Inc.
Bose Corporation
Koninklijke Philips N.V.
Sennheiser electronic GmbH & Co. KG
Haier Group Inc.
Mitsubishi Electric Corporation

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