Home Theater Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR45116
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The home theater market has the potential to grow by USD 3.23 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 4.77%.

This home theater market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (home theater speakers and soundbars) and geography (APAC, Europe, North America, MEA, and South America). The home theater market report also offers information on several market vendors, including Bose Corp., Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, Pioneer Corp., Samsung Electronics Co. Ltd., Sony Group Corp., Toshiba Corp., and Yamaha Corp. among others.

What will the Home Theater Market Size be in 2021?

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Home Theater Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rise in disposable income is notably driving the home theater market growth, although factors such as high cost of home theater systems may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the home theater market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The global rise in consumer disposable income will be a primary driver for the global home theater market during the forecast period.
  • In developed countries, such as the US, household income has been increasing. The spending capability of the population has increased with the rise in income levels. As a result, high-end audio devices have become affordable for a greater proportion of the population.
  • When home theaters were first introduced in the market, they were widely adopted in developed nations, such as the US and the UK.
  • Rapid economic growth and the increasing purchasing power in emerging markets, such as China and India, have encouraged vendors to focus on capturing these markets.
  • The growth of smart homes globally will drive the consumer electronics devices such as home theater market during the forecast period.
  • A smart home incorporates devices that communicate with each other to enhance the user experience. Home theater systems are among the various connected devices in a smart home ecosystem.
  • Home theater systems are introduced with assistant functionalities for smart homes. For instance, a home theater system can have Alexa and Echo or the more recent Google Home functionalities, which are essential for smart homes.
  • The growth of the global smart home market, coupled with the compatibility of speaker assistants within the ecosystem, will drive the market during the forecast period. 

 

This home theater market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Home Theater Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Bose Corp.
  • Koninklijke Philips NV
  • LG Electronics Inc.
  • Logitech International SA
  • Pioneer Corp.
  • Samsung Electronics Co. Ltd.
  • Sony Group Corp.
  • Toshiba Corp.
  • Yamaha Corp.

 

This statistical study of the home theater market encompasses successful business strategies deployed by the key vendors. The home theater market is fragmented and the vendors are deploying growth strategies such as focusing on product portfolio and quality of products to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The home theater market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Home Theater Market?

Home-Theater-Market-Market-Share-by-Region-2020-2025

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47% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for home theater market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increase in the disposable income of the population will facilitate the home theater market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Home Theater Market?

Home-Theater-Market-Market-Share-by-Product-2020-2025

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The home theater market share growth by the home theater speakers segment will be significant during the forecast period. The demand for such products will primarily come from high-income regions. Vendors are introducing new speakers with innovations in terms of design and functionality.

This report provides an accurate prediction of the contribution of all the segments to the growth of the home theater market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Home Theater Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive home theater market growth during the next five years
  • Precise estimation of the home theater market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the home theater market industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of home theater market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The home theater market growth will increase by $2878.09 million during 2019-2024.
The home theater market is expected to grow at a CAGR of 4.38% during 2019-2024.
Technavio has segmented the home theater market by product (Home theater speakers and Sound bars) and geographic (APAC, Europe, North America, MEA, and South America).
Bose Corp., Harman International Industries Inc., Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, Panasonic Corp., Pioneer Corp., Samsung Electronics Co. Ltd., Sony Corp., Yamaha Corp. are a few of the key vendors in the home theater market.
APAC will register the highest growth rate of 43.86% among the other regions. Therefore, the home theater market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • China
  • Germany
  • UK
  • Japan
  • France
The key factors driving the home theater market growth are:
  • Rise in disposable income
The home theater market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
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