Home Theatre Systems Market Snapshot (2022 to 2032)
The Home Theatre Systems Market is likely to hold the global market at a moderate CAGR of 9.5% during the forecast period. The global market holds a forecasted revenue of US$ 9.7 Billion in 2022 and is likely to cross US$ 24.1 Billion by the end of 2032.
The home theatre systems market is anticipated to show promising growth prospects during the forecast period, expanding the global home theatre systems market size.
Attribute
Details
The Home Theatre Systems Market Estimated Size (2021)
US$ 8.9 Billion
The Home Theatre Systems Market Estimated Size (2022)
US$ 9.7 Billion
The Home Theatre Systems Market Projected Size (2032)
US$ 24.1 Billion
The Home Theatre Systems Market CAGR (2022 to 2032)
9.5%
The appeal of home entertainment systems has greatly increased over time. A home theatre system is, to put it simply, an entertainment setup that includes televisions and video equipment and is intended to replicate the experience of movie theatres, using surround sounds within the confines of the owner's home. Entertainment experiences have been greatly improved by home theatre systems.
The home theatre market has seen a profusion of sophisticated product debuts as technological improvements permeate different industries, especially wireless audio streaming devices like Alexa and Echo, which aim to improve the acoustic experiences of potential end users.
These days, audio systems with Bluetooth and Wi-Fi connectivity are becoming more and more popular all over the world. Home theatre systems are becoming more and more popular because people are tending to watch movies on OTT platforms at home, instead of going to theatres and spending money on tickets.
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Providing Theatre like Experience for Onetime Price and Availability of Entertainment Platforms are Boosting the Home Theatre Market
Advancement in technology is really pushing the boundaries between the virtual world and realism. New technologies like 3D videos, VR and AR technology, interactive videos along with high definition picture qualities going up to 4K and 8K pixels are practically immersing the audience into the media. All these devices and equipment are available for customers, who like to experience entertainment in a different way. All these technologies are pretty expensive, but people are willing to pay, as they provide an out-of-the-world movie experience.
Along with advancements in systems, the availability of the internet and video platforms is another reason for people choosing home theatres. The OTT platforms like Netflix and Disney Plus have a number of shows and movies to watch at a reasonable price. When paired with advanced home theatres, it can provide the best movie experience at home. People are also preferring to stay at home instead of going to theatres, as changed lifestyles during the lockdown because of the COVID pandemic.
The home theatre system comprises multiple speakers, tweeters, sub-woofers, and sound bars, all collectively providing a combined, complex, and immersing surround sound, when combined with big and high-definition TVs, one can have a theatre-like experience at home. Many systems are now wireless, using Bluetooth and Wi-Fi connections. They get connected to smartphones and TVs in no time and have ease of access, making them popular in the segment. These are some driving trends for the home theatre systems market.
Premium Price Range and Counterfeit Products are Posing Problems for Growth of Home Theatre Systems Market
The main restraints to the market are the premium prices of these systems and fake, counterfeit products.
The home theatres are combo packages of different speakers, with different designs. The main aim of such an arrangement is that every component of this system emits different types of sound with different intensities. All this planning is done to give the best-in-class theatre-like experience to customers. The technology used in these sounds is advanced, making these systems expensive. The main customers for home theatres are high-class people having disposable income. Middle-class people with a fixed budget cannot afford them and hence are out of the market.
Another big problem for the market is fake products. There are some big names in the home theatre market, giving the best services to the customers. Some counterfeit producers use their names to increase their own sales. These fake products are not up to the standards set, resulting in customers avoiding purchases from the same brand. Some products work well and are available at cheaper prices, attracting the majority of customers, and posing a challenge to big players in the market.
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Regional Insights
European Customers are Preferring Wireless Sounds and Systems Instead of Wired
European customers are more interested in purchasing wireless, Bluetooth sounds, instead of wired systems. The main reason for their popularity is their portable nature and ease of use. These sounds can connect to multiple devices and can be carried to other places. They are relatively cheaper than bigger systems and can be as effective as home theatres in some cases.
Increasing Purchasing Power and Popular Brands are Responsible for Boost in Asia Pacific Region
Asia Pacific region is sharing a big part of the home theatre systems market. The main reasons are the availability of customers due to increasing online streaming services and popular brands like Samsung, Sony, Alpine, and many more, providing best-in-class products and services. There are also some other brands providing home theatre systems at reasonable prices, with good quality which can be compared with top providers.
Competitive Landscape
Some key players in the Home Theatre Systems market are Bowers & Wilkins, Bang & Olufsen A/S, Sound United, VOXX International Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Bose Corporation, Toshiba Corporation, Yamaha Corporation, Koninklijke Philips, LG Corporation and others. These are popular and well-known brands all over the world.
Sony Corporation, a very popular electronics brand has launched a premium home theatre series in 2022, equipped with high-definition surround sound technology and innovative sound mapping technology, used to sense the surroundings and create a ‘phantom sounds’ effect, immersing the user. The system comprises a set of sounds and a soundbar.
JBL has introduced best in class, high-definition wireless home theatre system, comprising a sound bar with detachable speakers, subwoofers, and a main speaker box. The system has a built-in Chromecast, compatible with online streaming services. This system can provide movie experiences even surpassing the actual movie theatres.
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Scope of Report
Attribute
Details
Growth Rate
CAGR of ~9.5% from 2022 to 2032
The base year for estimation
2021
Historical Data Available for
2017 to 2021
Forecast Period
2022 to 2032
Quantitative units
Revenue in USD Billion, volume in Units, and CAGR from 2022 to 2032
Report Coverage
Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, pricing analysis
Segments Covered
Type, Distribution Channel, Region
Country scope
USA; Canada; Mexico; Germany; United Kingdom; France; Italy; Spain; Russia; India; Thailand; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; United Arab Emirates(UAE); South Africa
Key Companies Profiled
Bowers & Wilkins
Bang & Olufsen A/S
Sound United
VOXX International Corporation
Samsung Electronics Co. Ltd.
Sony Corporation
Bose Corporation
Toshiba Corporation
Yamaha Corporation
Koninklijke Philips
LG Corporation
Others
Customization scope
Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs.
Key Segments Profiled in the Home Theatre Systems Market
By Application:
Home Theatre in a Box System (HTIB)
Sound Bar
Component System
By Distribution Channel:
Specialty Stores
Online Store
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa
Frequently Asked Questions
What is the current Home Theatre Systems market value?
The Home Theatre Systems market is expected to reach a valuation of US$ 9.7 Billion in 2022.
What are the key trends driving the Home Theatre Systems Market?
A number of brands providing different types of home theatre systems at different price ranges and the audience’s increasing preference for OTT platforms for watching movies and shows at home are some key driving trends for the home theatre system market.
Who are the leading players in the Home Theatre Systems Market?
Leading players operating in the Home Theatre Systems market are Bowers & Wilkins, Bang & Olufsen A/S, Sound United, VOXX International Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Bose Corporation, Toshiba Corporation, Yamaha Corporation, Koninklijke Philips, LG Corporation and among others.
