Home Theatre Market Prognosticated to Escalate with USD 31 Billion by 2023 at 19% CAGR

Home Theatre Market
Home Theatre Market, By Component (Sound & Display Systems, Storage Devices, Media Players), By Type (Home Theatre in a Box System, Sound Bar, Component Systems) – Forecast 2023

Market Highlights

By region, MRFR analysis shows that North America region accounts for largest market in home theatre market because of emerging economies and consumer demand for superior audio and video systems from the region. North America is also one of the prominent region in the market because of high spending power of consumers. Europe region is constantly investing into research and development of home theatre market to directly address the needs of customers. North-America region accounts for highest share in Home Theatre Market owing to consumer demand for smart home, increase adoption of cloud services and high purchasing power of people is contributing towards the growth of market in the region.

 

The Home Theatre Market is growing rapidly over 19% of CAGR and is expected to reach at USD 31 billion by the end of forecast period.

 

Home Theatre Market Players:

  • Bose Corporation (U.S.)
  • LG Electronics (South Korea)
  • Panasonic Corporation (Japan)
  • Samsung Electronics Co., Ltd. (South Korea)
  • Sony Corporation (Japan)
  • Akai Electronics (Japan)
  • Koninklijke Philips N.V., (Neatherlands)
  • Bowers & Wilkins (U.K.)
  • Atlantic Technology (U.S.)
  • Toshiba Corporation (Japan)

 

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Home Theatre Market Segmentation

The home theatre market has been segmented on the basis of component and type. By component it consists of sound and display systems, media players, storage devices and others. Storage devices are of many types. Now a day’s solid-state drive also known flash memory is most commonly used. It is one of the most expensive storage devices and performs more efficiently and faster than other storage devices.

 

Market Research Analysis:

Market Research Future Analysis shows that new adoptions of high-tech methods. Asia-Pacific region is mainly dominating the market because of advanced technology implementation in display resolution system. The entertainment industry in Asia-Pacific region is growing and becoming global which is one of the driving factor of home theatre market. The European region is also gaining growth because of increase demand of consumers and investment by technology players in home theatre market. Asia-Pacific market is estimated to be one of the fastest growing market as it is continuously investing into research and development of home theatre market and growing popularity of entertainment industry is fueling the growth in the region. Increasing population, and growing IT landscape is boosting the market in the region. The region is witnessing high adoption of internet streaming for entertainment purpose. Developing countries such as India and China are contributing at a large scale in home theatre market owing to increase population and robust industrialization is boosting the market in the region. The region is witnessing high growth in internet radio market due to growing technological advancement in cloud and mobile technologies.

 

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Intended Audience

– Investors and consultants

– System Integrators

– Research/Consultancy firms

– Technology solution providers

– IT Solution Providers

– Original Equipment Manufacturers

 

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