0

Home Entertainment Devices Market Expected to Reach $545,147.9 Million by 2031-Allied Market Research

 
2022
Home Entertainment Devices Market

Report Code : A01468

quote the increase in product bundling, surge in demand for connected products from customers, growing disposable income, drop in prices of entertainment products, rise in techno-savvy urban population, and increase in demand for streaming content are factors expected to drive the growth of the global home entertainment devices market during the forecast period. quote

Aniket Kadam
Senior Research Analyst, Consumer Goods at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, Home Entertainment Devices Market by Type, Mode of Connectivity Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022–2031,” the global home entertainment devices market size was valued at $264,655.3 million in 2020, and is projected to reach $545,147.9 million by 2031, registering a CAGR of 6.2% from 2022 to 2031.

The home entertainment devices market includes several consumer electronic products, such as television sets, video players and recorders, audio equipment, and gaming devices. Over the past few years, there has been a significant rise in consumer investments in entertainment products mainly due to the increase in disposable income and development of innovative entertainment solutions from manufacturers. The market growth for entertainment products has also witnessed substantial growth due to increase in digitalization of electronic goods, rapid innovations in existing products, price drops of entertainment products, and rise in techno-savvy population in emerging countries. All these home entertainment devices market trends is driving the market. However, increase in consumer shift towards mobile platforms and regulations on the frequency range of audio devices hamper the home entertainment devices market growth for these products.

The COVID-19 pandemic situation had a negative as well as a positive impact on the home entertainment devices market demand. The supply chain caused negative impact on the market while ‘stay at home’ regulations caused positive impact on the home entertainment devices market.   

According to the home entertainment devices market analysis, the market is segmented on the basis of type, mode of connectivity type, distribution channel, and region. On the basis of type, the market is segmented into audio devices, video devices, and gaming consoles. The audio devices segment is further segmented into home theatre in-a-box (HTiB), audio systems, home radios, sound bars, headphones, and others. The video devices segment is further categorized into televisions, blue-ray & DVD players, projectors, DVRs, and streaming devices. In 2020, the video devices segment dominated the market, accounting for $218,509.4 million and was majorly dominated by the television segment. The global market for televisions was valued at $152,136.2 million in 2020. The television market is expected to grow at a CAGR of 5.7% and is expected to reach $297,848.7 million by 2031.

On the basis of mode of connectivity, the market for home entertainment systems is segmented into wireless devices and wired devices. Wireless home theatre or entertainment system refer to a setup that simply has a set of wireless surround sound speakers to a system that incorporates wireless home networking. These devices also have inbuilt LAN device that allows users to access the Internet and provide the benefits of networking in a cable-free environment. The connectivity segment was dominated by the wired devices segment and accounted for $182,787.6 million in 2020. The wireless devices segment is expected to grow at a higher CAGR of 8.1% and reach $204,529.5 million by 2031. The wireless devices segment is being driven by advancements in internet, TV, and other application technologies.

On the basis of distribution channel, the market is bifurcated into online and offline. The offline segment dominated the home entertainment devices market with highest home entertainment devices market share in 2020. Consumers prefer to buy home entertainment gadgets from retail stores or specialist outlets because they can view, touch, and test devices before purchasing it.

Region wise, the market is segmented into four major regions, which include North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific was the most dominant geographic market for home entertainment in 2015. The growing disposable and growing techno-savvy urban population from major countries of China and India largely drive the Asia-Pacific market, which is estimated to grow at a CAGR of 6.8% during the home entertainment devices market forecast.

Porter’s five forces analysis helps to understand the competitive structure of the market along with suppliers and buyers’ role. The analysis concludes that the degree of competition is very high in the market. The value chain analysis gives a clear picture of the service structure with value addition by the suppliers provided at each stage. The top investment pockets exhibit the home entertainment devices market opportunities for market participants with current and future conditions of the market.

The key market players of home entertainment devices are focusing their efforts on providing connected home entertainment equipment and tools such as smart speakers and home assistance, to improve the overall entertainment experience. Through voice control automation, the home entertainment devices improve the entire auditory experience of movies and television shows. During the forecast period, such product advancements are expected to continue to fuel the home entertainment devices market expansion.

These key players operating in the home entertainment devices industry include Sony Corporation, Apple Inc., Panasonic Corporation, LG Electronics, Samsung Electronics, Bose Corporation, Sennheiser Electronic, Microsoft Corporation, Koninklijke Philips, and Mitsubishi Electric Corporation.

Key Findings Of Study

  • By region, Asia-Pacific was the highest revenue contributor, accounting for $78,338.0 million in 2020, and is estimated to reach $172,266.7 million by 2031, with a CAGR of 6.8%.
  • By type, the video devices segment was the highest revenue contributor to the market, with $218,509.4 million in 2020, and is estimated to reach $457,524.9 million by 2031, with a CAGR of 6.4%.
  • By mode of connectivity type, the wired devices segment was the highest revenue contributor to the market, with $182,787.6 million in 2020, and is estimated to reach $340,618.4 million by 2031, with a CAGR of 5.2%.
  • By distribution channel, the offline segment was the highest revenue contributor to the market, with $141,784.7 million in 2020, and is estimated to reach $269,595.9 million by 2031, with a CAGR of 5.4%.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Home Entertainment Devices Market by Type (Audio Equipment, Video Devices, and Gaming Consoles), Mode of Connectivity Type (Wired Devices and Wireless Devices), and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2022–2031 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Mar 2024

Hairbrush Market

Download Sample
rep-img

Published Date Mar 2024

Debt Security Market

Download Sample
rep-img

Published Date Mar 2024

Wood Adhesives Market

Download Sample

Buy Full Version
"Home Entertainment Devices Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers