Home Theatre Systems Global Market Report 2023

Major players in the home theatre systems market are Bose Corporation, LG Electronics Inc, Panasonic Corporation, Sony Corporation, Samsung Group, Bowers & Wilkins, Atlantic Technology, Definitive Technology, GoldenEar Technology, and Yamaha Corporation.

The global home theatre systems market is expected to grow from $22.77 billion in 2021 to $27.24 billion in 2022 at a compound annual growth rate (CAGR) of 19.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The home theatre systems market is expected to reach $54.78 billion in 2026 at a CAGR of 19.1%.

The home theatre systems market consists of sales of sound bars, home theatre in a box system (HTIB), and other home theater systems.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

A home theater system is defined as an audio-video system for a home that consists of a large television with video components and a digital surrounding audio system. It gives the experience of watching a movie on small multiplex cinema screens.

The main products of the home theatre systems market are home theatre in a box system, soundbar, and component systems.A home theater in a box (HTIB) includes the A/V receiver and at least five speakers and a subwoofer.

The distribution channels are online and offline. The various applications are household use and commercial use.

The rise in disposable incomes was a major driver of the home theatre systems market.The rise in disposable incomes was mainly driven by economic growth and middle-class population growth in developing countries such as China, India, and Brazil.

According to the World Bank, the world’s middle-class population – defined as that earning between $10 and $100 per day – The world’s Middle-Income Countries (MICs) are a diverse group by size, population, and income level with a GNI per capita between $1,036 and $4,045, and upper-middle-income economies with a GNI per capita between $4,046 and $12,535 (2021).Middle-income countries are home to 75% of the world’s population and 62% of the world’s poor.

At. In 2021, India’s economy has grown by 7.2 percent 2021. The growth rate in Per Capita Income in India is estimated at 4.3 percent during 2019-20, as against 5.6 percent in the previous year. Increased earnings greatly increased disposable incomes in the emerging markets, increasing the demand for the home theatre systems market.

The changes in consumer lifestyles and preferences had a significant impact on the home theatre systems market.With increasing smartphone and internet penetration and advances in social media and digital technologies, consumers shifted from traditional television to new forms of entertainment such as online audio and video streaming services on mobile phones.

Television viewership continued to decline, especially among the millennials.For example, as of 2020, Young people are watching Netflix and YouTube.

In 2021, YouTube brought in revenue of $6.01 billion in advertising revenue during the quarter up from $4 billion from the previous year, for a growth rate of 49%. That’s an acceleration over its 46% growth in Q4. It’s also nearly twice the growth rate of Netflix, which reported 24% revenue growth in Q1. Changes in consumer preferences restricted the demand for home theatre systems.

Increasing adaption of cloud services is becoming popular in the home theater systems market.Cloud technology legally allows customers to watch videos and music online.

Video streaming platforms are adapting cloud technologies for providing a better viewing experience.For example, earlier consumers used television for watching videos, and now the customers are preferring an access-based approach that allows them to subscribe to video libraries in the cloud.

Therefore, companies in the home theatre systems market are manufacturing advanced systems that can be connected to the internet to access the videos online.

In October 2020, Sound United, a New Jersey-based consumer electronics company acquired Bowers & Wilkins for an undisclosed amount.This acquisition is for combining organizations and becoming a part of the industry’s strongest portfolio of premium audio brands.

Bowers & Wilkins British company that is producing consumer and professional loudspeakers and headphones.

The regions covered in the home theatre systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the home theatre systems market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The home theatre systems market research report is one of a series of new reports that provides home theatre systems market statistics, including home theatre systems industry global market size, regional shares, competitors with a home theatre systems market share, detailed home theatre systems market segments, market trends and opportunities, and any further data you may need to thrive in the home theatre systems industry. This home theatre systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.