The home theatre market size was valued at USD 8.7 billion in 2021 and is projected to expand at a CAGR of around 5% during the forecast period, 2022 – 2030. The growth of the market is attributed to increase in the number of smart homes with connected communication devices.
Home theatre is a setup of video and audio equipment in your house that simulates a movie theatre. Many small multiplex movie screens may not be able to compete with a strong home theatre system. Home theatre systems can cost anything from a few hundred dollars to tens of thousands of dollars. Fortunately, you only need a few items to put together your own home theatre. Five speakers, surround sound A/V receiver, DVD or Blu-ray player, and television make up a basic home theatre system.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing prevalence of smart homes worldwide is projected to drive the market during the forecast period.
- Ability to stream audio material wirelessly through Wi-Fi/Bluetooth is estimated to fuel the market.
- Increasing trend of customized systems is anticipated to boost the market during the forecast period.
- Consumers are moving their preferences toward home entertainment and theatre options, due to rising movie ticket prices, which is expected to propel the market.
- High installation cost of the product is estimated to hinder the market growth during the forecast period.
- Availability of low-cost standalone speakers is estimated to impede the market growth.
- Technological advancement in electronic devices is projected to create immense opportunities for the market players during the forecast period.
Scope of the Report
The report on the global home theatre market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Home Theatre Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2021
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Historic Data
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2019–2020
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Forecast Period
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2022 – 2030
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Segmentation
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Products (Component System, Sound Bar, and Home Theatre In A Box System (HTIB)) and Distribution Channels (Offline and Online)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Bose Corporation; LG Electronics Inc.; Pioneer Corporation; Yamaha Corporation; GoldenEar Technology; Definitive Technology; Akai Electronics Company; Atlantic Technology Inc.; Bowers & Wilkins; JBL Corporation; Samsung Group; Sony Corporation; Panasonic Corporation; and Koninklijke Philips N.V.
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Market Segment Insights
The Home Theatre in A Box System (HTIB) segment accounted for a major market share in 2021
Based on products, the market is segregated into component system, sound bar, and Home Theatre in A Box System (HTIB). The Home Theatre in A Box System (HTIB) segment accounted for a major market share in 2021. The surround speakers provide theater-like sound, which enhances the home cinema experience. The home theatre in a box system come in a number of configurations, ranging from 2.1 to 9.1 channels. There are several speakers in these systems, including subwoofers, center speakers, rear speakers, and surround speakers’ front speakers. The dialogue is reproduced via the center speakers, which offer dynamic sound effects. Rising sales of large-screen televisions with high-resolution screens and projectors have improved consumers' home movie theatre experiences. This trend is projected to drive the segment. The sound bar segment is anticipated to expand at a high CAGR during the forecast period. Multiple speakers are installed in the product's cabinet, creating a surround sound and stereo effect. Sound bar installation is simpler than traditional HTIB. In most cases, only one cable is required to connect to the television.
The online segment is estimated to expand at a high CAGR during the forecast period
On the basis of distribution channels, the market is bifurcated into offline and online. The online segment is estimated to expand at a high CAGR during the forecast period. Due to improved delivery standards and the availability of a wide variety of payment options, buyers are becoming more confident in purchasing high-value products via e-commerce. Online sales of consumer electronics have increased drastically in North America and Asia. The offline segment held a major market share in 2021. Expert installation and post-sale services are provided by brick-and-mortar retailers. Additionally, these stores benefit from the availability of appropriate audio equipment.
The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period
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 anticipated to expand at a rapid pace during the forecast period. Growth of the market is attributed to increasing disposable income of the middle-class population, increasing urbanization in emerging countries such as Thailand, Philippines, Malaysia, Indonesia, India, and China. Rapid adoption of innovative technology such as voice and wireless control has boosted the market in Asia Pacific. One of the major factors propelling the market is the presence of key players such as Samsung Group, Sony Corporation, Panasonic Corporation, and LG Electronics Inc. in the region.
Segments
The global home theatre market has been segmented on the basis of
Products
- Component System
- Sound Bar
- Home Theatre In A Box System (HTIB))
Distribution Channels
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Bose Corporation
- LG Electronics Inc.
- Pioneer Corporation
- Yamaha Corporation
- GoldenEar Technology
- Definitive Technology
- Akai Electronics Company
- Atlantic Technology Inc.
- Bowers & Wilkins
- JBL Corporation
- Samsung Group
- Sony Corporation
- Panasonic Corporation
- Koninklijke Philips N.V.
Competitive Landscape
Key players competing in the home theatre market include Bose Corporation; LG Electronics Inc.; Pioneer Corporation; Yamaha Corporation; GoldenEar Technology; Definitive Technology; Akai Electronics Company; Atlantic Technology Inc.; Bowers & Wilkins; JBL Corporation; Samsung Group; Sony Corporation; Panasonic Corporation; and Koninklijke Philips N.V. Some of these players are using several market strategies such as collaborations, partnerships, mergers, capacity expansion, and product launches, acquisitions to enhance their market shares. For instance,
- In October 2020, LG Electronics has begun the global distribution of its LG Soundbar product range for 2021, which includes new versions that are aimed to provide outstanding audio, intuitive control, and versatility.
- In November 2019, Detel, a subsidiary of SG Corporate Mobility, launched three home theatre systems in India.
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