Home theatrerefers to theaudio-visual system, which consists of various components like LCD, DVD, stereo setup, Blu-ray, and others that provide a high potential sound system and home entertainment. Additionally, home theatre includes multiple channels, subwoofers, microphones, and set-top box in emerging models. It is an electronic device which can be attached with television, laptop, tablets, and smartphones to provide enhanced sound experience relatable to the commercial movie theaters. The recent advancements in the consumer electronics sectorhaveled to the development of home theatersincorporated with other various components like media player, Bluetooth system, and storage devices which have increased the customer demand for home theatre systems.A surge in the improvementof audio quality and video effectshas presented a feasible entertainment source to the customers.
The COVID-19 scenario has inclined the customers towards the essential commodities rather than luxury goods such as home theatre, which in turn has impacted the sales and revenue of the home theatre market. The production of home theatre systems is hampered due to the shutdown of various manufacturing units and shortage of manpower. China has been the leading country in the production and export of electronic products, butdue to recent trade restrictionsadopted in several countriesthe global supply chain of home theatre market has been declined. Transportation restrictions imposed in various parts of the world have led to disruption in the delivery of home theatres through online platforms.
Top Impacting Factors:Market Scenario Analysis, Trends, Drivers andImpact Analysis
Increasing population, surge in disposable income, increasing requirement of home entertainment and technology advancement are the factors dominating the demand of the home theatre market. Home theater system has created a substantial interest of the customers in the home entertainment progressions from past few years.Hike in the prices of movie tickets has been one of the factors for rising requirement of feasible and advanced home theatre systems, which have presented opportunity for the customers to experience advanced home entertainment. Home theatre is swiftly replacing the conventional television by technological incorporations in the new models of home theatre system;which present similar outlook as that of small multiplex cinemaproviding the super HD quality.Additionally, the key manufactures have launched home theatre packages as per the requirement of customersand installation necessities according to the size and design of the room. Whereas,the high cost of installation hinders the growth of home theatre market.
New developments in home theatre system
The premium customers are inclined toward customized home theatre systemsdue to the increasing trend of smart homes. The home theatre market is segmented,based on variants available such as home theatre in a box system, sound bar and component system. In recent times, the majority of the generation Z customers prefer sound bar than home theatre in a box system due to its affordability,reasonable installation cost, stereo effect, and multiple advanced features.
Home theatre audio systemsinclude a variety of speakers such as the center speaker, front speaker, rear speaker, subwoofers and surround speakers. The center speaker provides dynamic effects andthe surround speaker helps in creating the aura by providing good quality of sound effects.
North America holds the highest market share in the home theatre market as per the leading customer demandforenhanced HD quality and audio systemswithout much price sensitivity. Whereas, Asia Pacific region is the growing market of home theatre systems in forecasted period.
The availability of home theatre on various online and offline distribution channels has created a pathway for the growing home theatre market. The e-commerce platform presents various discounts, offers, and payment options on the home theatre system has increased the consumer inclination.
Key Benefits of the Report:
- This study presents the analytical depiction of the home theatre industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the home theatre market share.
- The current market is quantitatively analyzed to highlight the global home theatre market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed home theatre market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Home Theatre Market Research Report:
- What are the leading market players active in the home theatremarket?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Home theatre Market Report Highlights
By Product outlook
By Distribution Channel
Key Market Players
Sony Corporation, Akai Electronics Company, Panasonic Corporation, LG Electronics Inc., Pioneer Corporation., Samsung Group, Yamaha Corporation, Definitive Technology, Bose Corporation, Atlantic Technology Inc., Bowers & Wilkins, JBL Corporation, GoldenEar Technology