The home theatre systems market significantly involves of sales of the home theatre systems. A home theater system involves of an enormous television with video components and digital surrounding audio system set up at home. It provides an experience of watching a movie in trivial multiplex cinema screens.
The significant growth in
disposable incomes was a foremost driver of the home theatre systems market.
The increase in disposable incomes was majorly driven by economic growth and
middle class populace growth in developing regions such as China, India and
Brazil. According to the World Bank, the world's intermediate class
population-defined as that receiving between USD 10 and USD 100 per
day-increased from nearly 1.5 to 2 billion between 2010 and 2015. During 2017,
China's economy increased at 6.6% and India's GDP augmented at 7.2%. The
disposable personal income in India augmented to USD 2,718.6 billion in 2018
from USD 2391.5 billion in 2017. Growth in the earnings greatly developed
disposable incomes in the emerging markets, rising the demand for home theatre
systems market.
The worldwide home theatre systems
market was valued USD 15.04 billion in 2019. It is projected to increase at a
compound annual growth rate (CAGR) of 19% and reach USD 29.74 billion by 2023.
The home theatre systems market has been geographically divided into North
America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle
East & Africa. The Asia Pacific registers for nearly 60% of the market.
Not only has this, the effective
adaption of cloud services is becoming widespread in the home theater systems
market. Cloud technology rightfully enable the consumers to watch videos and
music online. The Video streaming platforms are implementing cloud technologies
for delivering the better viewing experience. For example, the earlier
consumers utilized television for watching videos and now the consumers are
choosing access-based approach which enable them to subscribe to video
libraries in the cloud. Therefore, corporates in the home theatre systems
market are producing the advanced systems that can be linked to internet to
admittance the videos online.
During August 2018, Samsung
Electronics Co., Ltd, a South Korean multinational electronics corporate
entered collaboration settlement with Harman Kardon Inc. This collaboration
suggests Samsung Electronics Co., Ltd to further advance their audio quality
and play a foremost role in increasing their premium sound bar business. Harman-Kardon
Inc., US-based corporation, productions wireless audio systems, portables,
speakers, headphones, amplifiers, and accessories. Therefore, in the near
years, it is anticipated that the market of home theatre systems will increase
around the globe more effectively over the upcoming duration.
For More Information, Click on the Link Below:-
Global
Home Theatre System Market
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
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