Home Entertainment Devices Market Scope
Home entertainment devices are electronic gadgets that are specifically developed for the purpose of entertainment. Gaming consoles, audio devices, and video devices are examples of home entertainment gadgets. Because of the growing popularity of digitalization and falling prices, the global market for home entertainment devices is growing. Various industry competitors are concentrating on developing more efficient solutions in order to attract more clients and increase income. For entertainment purposes, people are turning to smart TV options. The lowering cost of home entertainment equipment, as well as the growing popularity of digitalization, are major drivers of this market's growth. Increased disposable income, an increase in the population of middle-class persons who can purchase various home entertainment gadgets, rising standards of living, and changing lifestyle choices are all driving the expansion of the home entertainment devices industry. Furthermore, the home entertainment devices market is being driven by the development of new technology and linked innovative goods, as well as the decrease in the price of home entertainment products.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Sony Corporation (Japan), BenQ (Taiwan), TCL Technology (China), Panasonic Corporation (Japan), LG Electronics Inc. (South Korea), Samsung (South Korea), Bose Corporation (United States), Sennheiser Electronic GmbH & Co. KG (Germany) and Koninklijke Philips N.V (Netherlands) |
CAGR | 5.44% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that Asia Pacific Manufacturers will contribute to the maximum growth of Global Home Entertainment Devices market throughout the predicted period.
Sony Corporation (Japan), BenQ (Taiwan), TCL Technology (China), Panasonic Corporation (Japan), LG Electronics Inc. (South Korea), Samsung (South Korea), Bose Corporation (United States), Sennheiser Electronic GmbH & Co. KG (Germany) and Koninklijke Philips N.V (Netherlands) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Home Theater Company (United States), Martin Logan (United States) and Accustic Arts Audio GmbH (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Home Entertainment Devices market by Type , by Application (Household and Commercial) and Region with country level break-up.
On the basis of geography, the market of Home Entertainment Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In October 2023, Evolution Digital Partners with TiVo to Build a Video Over Broadband Solution to Enhance the Streaming TV Experience. As part of this partnership, Evolution Digital announces the extension of its exclusive offering for the TiVo Managed IPTV Solution on both the EVO
In September 2022, BenQ has announced the launch of new Full HD Home Entertainment projector BenQ TH585 in India. The TH585 projector is available on Amazon. Buyers can get Amazon Fire Stick free with the projector. It will soon be made available at large retail formats, gadget stores and traditional stores.
Influencing Trend:
Decreasing Prices of Entertainment Products and Rising Demand for Smart Devices
Market Growth Drivers:
Growing Number of Households and Increased Spending on Home Entertainment Devices and Increasing Demand from Customers for Connected Products
Challenges:
Consumer Shift Towards Mobile Platforms
Restraints:
High Cost of Products and Adverse Effect of Audio Equipment and Wi-Fi Equipment
Opportunities:
Growing Technological Advancements and Rising Popularity of Home Gaming Among Teenagers
Key Target Audience
Manufacturers of Home Entertainment Devices, Suppliers of Home Entertainment Devices, Wholesalers, Distributors and Retailers of Home Entertainment Devices, Investors, Consumer Electronic Industry and Others