According to the latest research by SkyQuest Technology, the Global Home Theater Market was valued at US$ 13.41 billion in 2021, and it is expected to reach US$ 33.4 billion by 2028, with a CAGR of 19.4% during the forecast period of 2022 – 2028. The research provides up-to-date Home Theater market analysis of the current market landscape, latest trends, drivers, and overall market environment.
A home theater system is a combination of different electronic components designed to replicate the experience of a movie theater at home. The basic components of these systems include a video display, an A/V receiver to imitate surround sound, and a video source.
The rising popularity of smart homes in various regions of the world is projected to contribute significantly to market growth over the course of the projection. A smart home is a structure with a variety of interconnected technology that may communicate with one another and improve living circumstances. Studies show that in the US, roughly half of the millennial population utilizes a smart gadget right now. The quick proliferation of compact and affordable computing power and extensive connection has led to a major rise in demand for smart home products, such as home theater systems, which can transform the entertainment ecosystem inside the home.
Over the course of the forecast period, all of these factors are anticipated to drive the worldwide home theater market.
Read market research report, ” Global Home Theater Market is segmented based on Product Type, Component, Distribution Channel and Regions. Based on Product Type the market is sub segmented into Box System, Sound Bar, and Component System. Based on Components, the market is segregated into Sound & Display System, Media Player, and Storage Device. Based on Distribution Channel, the market is segmented into Specialty Stores, and Online Retail & By Region- Forecast and Analysis 2022-2028” by SkyQuest.
By geography, the North American area currently holds the majority market share of the worldwide home theater, due to the significant consumer spending on home theater-related goods in Canada and the United States, including theater boxes, projectors, soundbars, and other items. The North American region makes more money from these devices as a result. Additionally, the population’s increasing reliance on interactive, high-quality entertainment services is probably going to support the region’s purchase of these products.
The Asia Pacific is the next region that is expected to grow significantly over the forecast period. This growth is attributable to the expanding presence of home theater equipment makers in India and China, which is projected to support the consumption rate of home theater goods by households in the region.
The industry is tremendously competitive, with both established and new enterprises. In recent years, as part of a product bundling marketing strategy, manufacturers of home theater systems have partnered with manufacturers of smart TVs, particularly smart TVs. Internal speakers in flat-screen and slim TVs are typically subpar. As a result, TV manufacturers combine audio and TV components and sell the resulting bundle.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Home Theater Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.
Key Players in the Global Home Theater Market
- Bose Corporation (US)
- Lg Electronics (South Korea)
- Panasonic Corporation (Japan)
- Samsung Electronics Co. Ltd. (South Korea)
- Sony Corporation (Japan)
- Toshiba Corporation (Japan)
- Akai Electronics (Japan)
- Koninklijke Philips N.V. (Netherlands)
- Bowers & Wilkins (UK)
- Atlantic Technology (US)
- Definitive Technology (US)
- GoldenEar Technology (US)
- Yamaha Corporation (Japan)
- Pioneer Corporation (Japan)