Home Entertainment Devices Market

Home Entertainment Devices Market by Devices (Audio, Video, and Gaming Consoles), Distribution Channels (Offline and Online), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021–2028

  • Report ID: CG-361
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 198
  • Format:
  • Pub. Date: Upcoming
  • Share:

The global home entertainment devices market is anticipated to expand at a CAGR of 6.2% during the forecast period, 2021 – 2028. The growth of the market is attributed to the increasing consumer spending on household leisure activities.
 

Home Entertainment Devices Market Key Takeaways


Consumers prefer home entertainment appliances that provide hassle-free experience and are economical in nature. Tech-savvy population has increasingly become particular, well-informed, and price-sensitive for products and services. Therefore, there is an increase in the demand for home entertainment devices that offers value for money. According to a report published by techUK, the cost of entertainment is a large barrier for purchasing connected home products. Around 41% consumer consider cost as a key barrier for the purchase of these products.

A home entertainment device is a set of audio and video components that provides immersive experience while watching movies, music videos, playing games, and listening music. Improving standard of living and changing lifestyle of consumers is boosting the demand for smart, innovative, and value-based devices at home. Smart homes entertainment devices are usually popular in urban homes. Variety of home entertainment devices are available in the market with an extensive range of features.
Home entertainment devices includes consumer electronic products such as television sets, audio equipment, video players & recorders, and gaming devices. Home entertainment devices having superior audio output, which makes it more preferable among consumers. They are also buying additional audio equipment such as subwoofers to enhance their experience.

Market Drivers, Restraints, Trends, and Opportunities

  • Rapid urbanization and growth in the electronics industry is anticipated to propel the market growth.
  • Increasing adoption of connected home entertainment devices is anticipated to propel the growth of the market.
  •  Technological innovation such as advent of artificial intelligence (AI) is expected to spur the market growth during the forecast period.
  • Integration of Internet connectivity with these entertainment devices is positively impacting the market growth.
  • Rising adoption of smartphones across the globe is expected to hamper the market growth during the forecast period. Consumers are spending a humungous amount of time on their smartphones, which are capable of streaming videos content, news and music. The consumer shift for alternate platforms such as smartphones can restrain the growth of home entertainment devices market.
  • The emergence of COVID-19 pandemic has adversely affected the growth of home entertainment devices market. Limited availability of components, restricted labor supply, and supply chain disruptions are the factors that can inhibit the market growth.
  • Manufacturers are focusing on customizing designs of these entertainment devices to complement the home design is expected to spur the market growth during the forecast period.

Scope of the Report

The report on the global home entertainment devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
 

Attributes Details
Report Title Home Entertainment Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year 2020
Historic Data 2018–2019
Forecast Period 2021–2028
Segmentation Devices (Audio, Video, and Gaming Consoles), Distribution Channels (Offline and Online)
Regional Scope Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered Samsung Electronics Co. Ltd., Panasonic Corporation, Sony Corporation, LG Electronics Inc., Mitsubishi Electric Corporation, Sennheiser electronic GmbH & Co. KG, Bose Corporation, Koninklijke Philips N.V., Haier Inc. and Microsoft Corporation


Global Home Entertainment Devices Market Segment Insights

Video segment to account a considerable market share.
Based on devices, the market is segmented into audio, video, and gaming consoles. The video segment is expected to account for a market share of more than 75% during the forecast period. Growing consumer inclination toward visual entertainment is driving the segment growth. Additionally, the emergence of smart TVs and the advanced features they offer such as high-definition (HD) displays, built-in Wi-Fi and high-definition multimedia interface (HDMI) ports is positively impacting the segment growth.

The audio segment is anticipated to expand at a substantial CAGR during the forecast period. Growing consumer preference for audio devices such as home theatre systems, soundbars, and speakers which improves the sound quality for events such as social gatherings is anticipated to spur the demand for home entertainment devices during the forecast period.

Offline segment to account a significant market share.
On the basis of distribution channels, the market is segmented into online and offline. The offline segment is anticipated to account for a significant market share during the forecast period. Consumers prefer purchase of home entertainment devices from retail stores as it assures them about product design and quality.

The online segment is expected to expand at a CAGR of around 7.9% during the forecast period. The availability of wide range of products and easy return policies on online platforms are anticipated to drive the segment growth. These platforms allow consumers to compare products and avail deals at discounted rates. Moreover, online shopping saves times and is more convenient as compared to offline shopping. Increasing investment in social media marketing is contributing to the growth of the online segment.
 

Home Entertainment Devices Market By distribution channels


Asia Pacific to account a large market share.
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to account for a large market share during the forecast period. Increasing disposable income, growing internet penetration, and changing consumer lifestyles is fostering the regional market growth. On the other hand, the market in Europe is anticipated to grow at rapid pace owing to the growing adoption of IoT connected devices and availability of home entertainment devices at economical rates.
 

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Home Entertainment Devices Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Home Entertainment Devices Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Home Entertainment Devices Market - Supply Chain
  4.5. Global Home Entertainment Devices Market Forecast
     4.5.1. Home Entertainment Devices Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Home Entertainment Devices Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Home Entertainment Devices Market Absolute $ Opportunity
5. Global Home Entertainment Devices Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Home Entertainment Devices Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Home Entertainment Devices Demand Share Forecast, 2019-2026
6. North America Home Entertainment Devices Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Home Entertainment Devices Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Home Entertainment Devices Demand Share Forecast, 2019-2026
7. Latin America Home Entertainment Devices Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Home Entertainment Devices Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Home Entertainment Devices Demand Share Forecast, 2019-2026
8. Europe Home Entertainment Devices Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Home Entertainment Devices Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Home Entertainment Devices Demand Share Forecast, 2019-2026
9. Asia Pacific Home Entertainment Devices Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Home Entertainment Devices Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Home Entertainment Devices Demand Share Forecast, 2019-2026
10. Middle East & Africa Home Entertainment Devices Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Home Entertainment Devices Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Home Entertainment Devices Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Home Entertainment Devices Market: Market Share Analysis
  11.2. Home Entertainment Devices Distributors and Customers
  11.3. Home Entertainment Devices Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Samsung Electronics Co. Ltd.
     11.4.2. Panasonic Corporation
     11.4.3. Sony Corporation
     11.4.4. LG Electronics Inc.
     11.4.5. Mitsubishi Electric Corporation
     11.4.6. Sennheiser electronic GmbH & Co. KG
     11.4.7. Bose Corporation
     11.4.8. Koninklijke Philips N.V.
     11.4.9. Haier Inc.
     11.4.10. Microsoft Corporation

Segments Covered in the Report
The global home entertainment devices market has been segmented on the basis of

Devices

  • Audio
  • Video
  • Gaming Consoles

Distribution Channels

  • Offline
  • Online

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Some of the key manufacturers in the global home entertainment devices are Samsung Electronics Co. Ltd., Panasonic Corporation, Sony Corporation, LG Electronics Inc., Mitsubishi Electric Corporation, Sennheiser electronic GmbH & Co. KG, Bose Corporation, Koninklijke Philips N.V., Haier Inc. and Microsoft Corporation.

Manufacturers are focusing on adoption of various business strategies such as mergers, acquisitions, and product launches to increase their market presence. For instance, in May 2019, Samsung Electronics Co., Ltd. announced that all 2019 model smart TVs by Samsung and selected TV models of 2018 will feature Apple TV application and also offer Airplay 2 support across 100 countries. This enables the consumers to access to Apple TV channels and iTunes Shows on Samsung smart TVs.
 

Home Entertainment Devices Market By key players

Buy Report