Home entertainment is an application of
technology and arts for private amusement & enjoyment. It has become one of
the important parts of today’s lifestyle of people. The proliferation of the
digital media and microprocessor has produced an extensive variety of innovative
technologies for home entertainment. Digital entertainment systems found in
many homes include digital versatile disc (DVD) players for movies and music
videos, portable compact disc (CD) players for listening to music, digital
cameras, and game consoles. The demand for smart, innovative, connected, and
quality devices at home has become a trend owing to growth in standard of
living and change in lifestyles. The key benefits are convenient, saves money,
and creates perfect atmosphere for individual's home and many more.
According to study, “Global
Home Entertainment Market Size study, by Product (Audio Equipment,
Video Devices, Gaming Consoles, Others) and Regional Forecasts 2018-2025” the
key companies operating in the global home entertainment market are LG
Electronics Inc., Yamaha, Samsung Electronics, Sony Corp., Koninklijke Philips
N.V., Bose Corp., Cambridge Audio, Pioneer, Definitive Technology, JBL, Focal
Dimension, Atlantic Technology, Harman International, Sennheiser Electronic
GmbH & Co. KG, Mitsubishi Electric Corporation, Polk Audio, Denon
Electronics, Vizio, Pace, Cisco Systems, JVC Kenwood, Qualcomm Technologies,
Microsoft Corp., Panasonic Corp., Apple Inc., Zvox, Sonos, Edifier
International, The Home Theater Company, Accent Speaker Technology, Ltd.,
ACCUSTIC ARTS Audio GmbH, Artison, BenQ, Martin Logan, ATON, Ars Aures Audio,
Ayre Acoustics, Inc.
Based on product type, home entertainment
market is segmented into video devices, audio equipment and gaming consoles.
Video devices include projectors, televisions, digital video recorders (DVR),
DVD & blue ray players and streaming devices. Audio equipment include home
radios, home theatre in-a-box (HTiB), headphones, audio systems, sound bars and
others. Video devices segment holds major share in market owing to growth in
customer demand for smart TVs. Based on mode of connectivity, market is
segmented into wired devices and wireless devices. Wireless devices segment is
expected to witness higher growth rate due to growth in advancements in TV,
Internet, and other application technologies during the forecast period. Based
on retail, market is segmented into offline retail and online retail. In
addition, based on application, market is segmented into commercial, household
and others.
The home entertainment market is driven by
increase in digitization of electronic goods, followed by decline in prices of
entertainment products, rapid innovations in existing products, and increase in
tech-savvy urban population in developing countries. However, increase in
consumer shift toward mobile platforms and high cost of switching to new
technology may impact the market. Moreover, advances in mobile, video and
wireless technologies is a key opportunity for market.
Based on geography, the Asian-Pacific region
dominates the home entertainment market owing to rise in urbanization and
increase in disposable income of the individuals in the region. The
North-American and European regions are estimated to witness higher growth rate
due increase in levels of standard of living & change in lifestyle
preferences over the forecast period. It is projected that future of the market
will be bright on account of growth in development of new technology &
connected innovative products during the forecast period. It is anticipated
that the market will be reached at US $375.1 billion by 2025.
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