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The Home entertainment market size is forecast to increase by USD 116.6 billion, at a CAGR of 7.62% between 2023 and 2028. The market growth analysis depends on various factors, including the emergence of smart televisions, the success of TV shows and movies, increase in branding and promotion activities for devices. Moreover, advancements in digital technology, including VR and AR, coupled with the proliferation of streaming platforms and on-demand content, are reshaping the smart home entertainment landscape. Despite challenges such as piracy and competition saturation, the market is poised for sustained growth driven by innovations in cinematic watching experience and picture quality, bolstered by features like bezel-less infinity designs and 4K/8K output capabilities.
The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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The Home Entertainment Market is further segmented into Product and Distribution Channel categories, providing a comprehensive overview of the diverse offerings and channels available within the industry.
The video device segment is estimated to witness significant growth during the forecast period. The video device segment comprises video-enabled consumer electronic devices such as televisions, Blu-ray and DVD players, projectors, and streaming devices. Factors such as rapid innovations in the existing products, an increase in the digitalization of electronic goods, and a growing tech-savvy urban population in developing countries will surge the demand for video devices.
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The Video devices segment was the largest segment and was valued at USD 146.06 billion in 2018. Video devices are undergoing groundbreaking improvements such as the introduction of 8K and 4K resolution, micro-LED and mini-LED displays, high dynamic range (HDR) video in televisions, and the emergence of wireless and portable projectors, which fuel the demand for the video device segment.
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APAC is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growth in the regional market is largely driven by the growth in disposable income, increasing penetration of the Internet in developing economies, and the changing lifestyles of consumers led to a rise in the spending on devices. The increasing interest among the residents in the sports industry acts as one of the major driving factors for the growth of the regional market. Therefore, all such factors will significantly contribute to the growth of the regional market during the forecast period.
The market is witnessing a dynamic evolution, driven by the continuous advancement in digital technology and consumer preferences. Aesthetic design plays a crucial role in the development of appliances, smartphones, and home theater systems, enhancing the overall user experience. With the proliferation of streaming video content and music services, consumers seek high-quality audio equipment like soundbars and high-end speakers for immersive entertainment. Gaming devices, VR and AR technology, and hybrid games are reshaping the gaming landscape, while streaming platforms offer on-demand content experiences. However, piracy and copyright issues remain prevalent, necessitating intellectual property protection measures. Amidst competition and saturation, market players focus on technological innovations, including bezel-less infinity one design, Neo Quantum Processor, and upscaling capabilities, to deliver unparalleled cinematic watching experiences with 4K and 8K output. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is experiencing a significant surge, driven by the emergence of smart televisions. These TVs, equipped with integrated Internet connectivity and operating systems, offer consumers a plethora of interactive features and streaming capabilities. As demand for smart televisions continues to rise, driven by factors such as increased Internet accessibility and technological advancements, the market is witnessing a shift towards self-sustaining demand for Internet-enabled entertainment devices. This trend is further fueled by reduced product costs and the digital revolution in broadcasting.
The integration of advanced technologies in OTT services is the primary trend shaping the market. The integration of advanced technologies such as AI (artificial intelligence) and ML (machine learning) is increasing the demand for OTT platforms in the market. Major market vendors are integrating advanced technologies, such as AI and ML, in OTT services. AI technology enables OTT services to understand customer behavior and provide relevant content in real-time.
Furthermore, AI can also be used in target advertising. Using AI, a viewer's preference can be recognized, and an advertisement relevant to that preference can be used, thereby creating a maximum impact on the viewer. At the same time, ML algorithms are used to analyze the history of the user and provide relevant content. This will increase the customer base availing the OTT services and, in turn, will propel the growth of the global market during the forecast period.
The high energy consumption of televisions is a challenge that affects market expansion. Although UHD television sets produce clear, vibrant pictures, their extensive use consumes abundant energy. Newer 4K televisions use 30%-33% more power than HD models. The primary reason for the high consumption of energy by 4K televisions is primarily their backlights, which are required to be brighter to produce vivid pictures with more pixels.
In addition, functions of UHD televisions, such as Wi-Fi and faster reboot times, require more power. Owing to the high energy consumption, the demand for UHD televisions will be limited. Therefore, such factors will negatively impact the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Apple Inc. - The company offers devices such as HomePod, HomePod mini, and Apple TV.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth and forecasting by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market is experiencing a transformative wave driven by a plethora of internet-enabled devices, including disc players and gaming consoles. Competitive benchmarking and insightful analysis of company revenue shares illuminate regional opportunities, particularly in the LAMEA region. Device insights reveal a burgeoning demand for audio devices and gaming consoles, both wired and wireless, reflecting changing consumer preferences.
Porter's Five Forces analysis and analyst reviews underscore the market dynamics influenced by disposable incomes, unemployment rates, and regulatory measures. The analog-to-digital platform transition, coupled with increasing broadband access, is propelling the market forward, necessitating innovations in power chips and output technologies. Furthermore, household leisure activities are evolving with the integration of smart technologies into connected home entertainment products. Manufacturers are keenly tapping into this trend, offering new storage solutions while addressing environmental concerns. The market showcases promising growth, with an emphasis on enhancing user experiences and embracing sustainable practices.
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Home Entertainment Market Scope |
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Report Coverage |
Details |
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Page number |
16 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.62% |
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Market Growth 2024-2028 |
USD 116.6 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.16 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 33% |
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Key countries |
US, China, South Korea, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Apple Inc., Bose Corp., Haier Smart Home Co. Ltd., Hitachi Ltd., Koninklijke Philips N.V., LG Electronics Inc., Microsoft Corp., Mitsubishi Electric Corp., Panasonic Holdings Corp., Pioneer Corp., Samsung Electronics Co. Ltd., Sennheiser Electronic GmbH and Co. KG, Sharp Corp., Sonos Inc., Sony Group Corp., TCL Electronics Holdings Ltd., Toshiba Corp., VIZIO Holding Corp., Xiaomi Communications Co. Ltd., and Yamaha Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market forecasting and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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