Home Theatre Market Trend Analysis By Component & Type Forecast 2023
Home Theatre Market – Overview
The home theatre market has grown rapidly due to a broadening consumer base globally. Market reports associated to the semiconductors and electronics industry have been put forward by Market Research Future which generates reports on other industry verticals that target the study of recent market scenarios better. The market is tipped to achieve revenues worth USD 31 Billion by 2023 while progressing at 19 % CAGR in the course of the forecast.
The market is motivated by a surge in the implementation of cloud services and the growth of important players in the developing markets. The rising disposable income levels of individuals have also amplified substantially which is leading to the expansion of the home theatre market.
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Segmental Analysis
The segmentation of the home theatre market is carried out on the basis of component, type, and region. On the basis of component, the home theatre market is segmented into storage devices, sound & display systems, and media players. On the basis of type, the home theatre market is segmented into sound bar, home theatre in a box system and component systems. The regions involved in the home theatre market globally are North America, Asia Pacific, Europe and the rest of the world.
Key Players
The noticeable businesses in the home theatre market are LG Electronics (South Korea), Panasonic Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), Bose Corporation (U.S.), Sony Corporation (Japan), Bowers & Wilkins (U.K.), Akai Electronics (Japan), Toshiba Corporation (Japan), Koninklijke Philips N.V., (Netherlands), Atlantic Technology (U.S.), among others.
Detailed Regional Analysis
The regional analysis of the Home Theatre Market includes regions such as North America, Asia Pacific, Europe and the rest of the world. The North American region is responsible for maximum share of home theatre market due to growing demand from consumers towards high-quality sound and audio systems. The Asia Pacific region is increasing with the fastest CAGR in the home theatre market due to the presence of growing economies from the region and surge in the purchasing power of individuals. Furthermore, many small and medium-size companies from the region are adding towards the development of the market.
Competitive Analysis
The promotional and miscellaneous expenses are upgraded chiefly due to the advancement of the market. The market shows an intensified growth pace due to the constructive influence exerted by the market forces from both internally and externally. The absorbed costs in the market are effortlessly dealt with, unlocking more room for expansion in the market. The accretive nature of a few of the assets in the market is projected to increase the progress capability of the market. Moreover, the alliances being created in the market are projected to additionally encourage the development of the market in the approaching years. The players are staunchly taking on the obstacles to progress and are building strategies that are expected to lead to a useful effect on the market's progress. Specific areas in the market are projected to accomplish an absolute lead in the market place owing to improved strategies.
Industry Updates:
Feb 2019 Aisen, an upcoming consumer durables brand, has launched its Theatre experience with 5.1 Channel Speaker ‘A15UFB502’. The system exemplifies the progressive acoustic engineering & inspired industrial design, bringing a powerful sonic signature that delivers an all-round home cinema experience.
Mar 2019 KEI in association with JVC has recently launched the world’s original 8K e-shift home theater projector with a new lineup of JVC D-ILA home theatre projectors, as well as the DLA-NX9BE, which is fortified with JVC’s unique 8K/e-shift technology. It is the world’s first home theater projector to provide high-definition 8K image resolution.
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LIST OF TABLES
TABLE 1 HOME THEATRE MARKET, BY COMPONENT
TABLE 2 HOME THEATRE MARKET, BY TYPE
TABLE 3 HOME THEATRE MARKET, BY REGION
TABLE 4 NORTH AMERICA HOME THEATRE MARKET, BY COMPONENT
TABLE 5 NORTH AMERICA HOME THEATRE MARKET, BY TYPE
Continued…….
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 HOME THEATRE MARKET: BY COMPONENT (%)
FIGURE 3 HOME THEATRE MARKET: BY TYPE (%)
FIGURE 4 HOME THEATRE MARKET: BY REGION (%)
FIGURE 5 NORTH AMERICA HOME THEATRE MARKET, BY COMPONENT (%)
Continued…….
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