Home Theater Market Scope
Home theater a combination of audio and video electronic components is designed to generate theater experience of watching movies at home. Home theater refers to an audio system that can be interconnected with any video or audio device such as TV, DVD/Blu-ray player or any other sound systems. Recent Home theaters can be directly connected to PC i.e. can be operated with the help of the computer and innovative home theaters are available with the special facilities like Wi-Fi and Bluetooth connections. Proper advertisements of such electronic products will help to drive the growth of home theater market. Consumer electronics industry has undergone a complete revolution due to some of innovative entertainment solutions such as digital set-top box, home theater systems, media players, and digital video recorder. Now-a-days large number of consumers are preferring to socialize more at home, both with families as well as friends. Additionally, rising prices for movie tickets has also led to consumers looking for home entertainment solutions
According to AMA, the Global Home Theater market is expected to see growth rate of 7.9%Key players are adopting numerous strategy to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnership to adopt certain technologies and acquiring small players to finish competition in the future. As well as investing money in R&D sector to make technical up-gradations in the product. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Home Theater market throughout the predicted period.
LG Electronics (South Korea), Panasonic (Japan), Bose (United States), Sony (Japan), Samsung Electronics (South Korea), Bowers & Wilkins (United Kingdom), Atlantic Technology (United States), D&M (Germany), Definitive Technology (United States), Golden-ear Technology (United States), Philips (Netherlands), Monitor Audio (United Kingdom) and Pioneer (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Sharp (Japan), Toshiba (Japan), Sonos (United States) and Harman (United States)..
Segmentation Overview
The study have segmented the market of Global Home Theater market by Type (Wi-Fi connected, Bluetooth connected and Others), by Application (Household Use and Commercial Use) and Region with country level break-up.
On the basis of geography, the market of Home Theater 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).
Influencing Trend:
TV sets without built-in sound systems will increase need for external audio systems and Easy possibility of connection with portable devices such as tablets, laptops, and smartphones
Market Growth Drivers:
Smart homes count is increasing continuously and Rising necessity of wireless streaming of audio content
Challenges:
home theatre market is expected to witness growth in the upcoming future due to increasing spending on entertainment
Restraints:
Rapid technological innovation increases necessity to make rapid changes and Huge competition
Opportunities:
Rising consumer inclination towards superior audio effects and Arrival of realistic and innovative home audio equipment
Market Leaders and their Expansionary Development Strategies
In April 2023 , LG Electronics Singapore welcomes the launch of its highly anticipated 2023 TV line-up in Singapore, featuring cutting-edge technologies designed to cater to the diverse needs of modern consumers. As LG celebrates its 10th consecutive year as the world’s top OLED TV brand,1 the company remains at the forefront of innovation.
In February 2022,Sony India on Monday launched its premium range of Home Theater System HT-A9 and HT-A7000 soundbar, offering a new and revolutionary multi-dimensional sound experience. Powered with innovative 360 SSM surround sound technology that creates an incredibly immersive soundscape for any movie, music, or gaming experience.
Key Target Audience
Manufacturer, Raw material supplier, Distributors/ traders/ dealers, Channel partners, Industry Association, Governments and investment communities and Research organizations and associations
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.