Global Home Entertainment Devices Market by Distribution Channel (Offline, Online), by Device (Video, Audio, Gaming Consoles) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2018, the global home entertainment device market was worth USD 225.0 billion. It is projected to grow at 6.3% compound annual growth rate (CAGR), from 2019 to 2025. Because they are both convenient and affordable, home entertainment devices remain a popular choice for consumers. The market will continue to grow due to increasing consumer spending on leisure activities.

Due to increased household spending and growing demand for home entertainment products, the global market is expected gain momentum over the forecast period. Home entertainment appliances are attractive to consumers because they offer hassle-free, economical entertainment at home. Consumers are becoming more informed, research-driven, price-sensitive, and well-informed about products and services. They choose home entertainment devices that are affordable. TechUK's report, "The State of the Connected Home," states that entertainment costs are the greatest barrier to consumers between 25 and 34 years old. Around 41% of respondents consider cost to be the main barrier to purchasing connected home products.

Home entertainment device manufacturers are focusing their efforts on offering connected products through smart technologies like smart speakers and home assistance. This will enhance the entertainment experience. These devices have been shown to improve the sound quality of TV shows and movies via voice control automation. These product innovations will continue to drive market growth over the forecast period. These entertainment systems can play music, provide information about weather and news, and control multiple smart devices. This will likely drive demand for internet-enabled devices like televisions, disc players, gaming consoles and other electronics over the forecast period.

The aesthetic design of home entertainment devices is also being considered by manufacturers. This will likely drive growth in the market. Despite the many positive aspects of these appliances, there is a risk that the growing adoption of smartphones around the world could hinder the growth of this market in the future. Smartphones can stream video, music and news to consumers, and they can also be used to download games. These smartphones also offer portability. These factors will be a hindrance to market growth during the forecast period.

Distribution Channel Insights

The market can be divided into two segments based on the distribution channel. In 2018, the offline segment held the largest market share and is expected to continue in the future. Home entertainment devices are more popular in specialty shops and retail stores. This allows consumers to touch, feel, and test the appliances before making a decision to buy. Consumers are more confident about the product's design and quality when they can physically interact with it.

Online distribution is growing in popularity and is expected to grow at 8.2% CAGR during the forecast period. Online shopping has many advantages such as easy returns and the availability of many products. Online shopping allows consumers to compare features of products and take advantage of discounts and other deals. Online shopping is convenient and saves time because of the extensive product range from multiple brands. Online distribution is also growing thanks to social media marketing.

Device Insights

The market for home entertainment devices can be divided by device into audio devices and video devices. In 2018, the video devices segment was dominant and will continue to grow significantly due to consumers' preference for visual entertainment. The CAGRs for audio devices and gaming consoles will be remarkable during the forecast period. The forecast period will see an increase in demand for audio devices like soundbars, home theatre systems, and speakers that provide better sound quality for social events. The gaming consoles market will grow due to the increasing popularity of gaming consoles for teenagers, especially products from brands like Nintendo, Xbox, and PlayStation.

In 2018, video devices held a market share exceeding 80% and is expected to continue dominating the market until 2025. As televisions remain the most popular choice for home entertainment, this segment is expected to grow at a rapid pace. This segment has seen significant growth due to smart TVs, which offer a host of features, including high-definition displays and built-in Wi Fi, High Definition Multimedia Interface(HDMI) ports and easy access apps like YouTube and Netflix.

Regional Insights

Asia Pacific was the dominant market region in the global market in 2018, and this trend will likely continue for the forecast period. The increasing penetration of the internet into developing countries and changes in consumer lifestyles have resulted in an increase in household entertainment device spending. China is expected to be the dominant market in Asia Pacific, while India will continue to grow at a steady pace over the forecast period.

Europe is projected to be the second largest market during the forecast period. Regional market growth will be influenced by factors such as rising disposable income and availability of products at affordable prices. The European market will be driven by the increasing use of IoT-connected products and the increased demand for products that provide comfort and convenience. The rise in demand in Germany for subscription video-on–demand (SVOD), is expected to make Germany the dominant European market in the future.

Market Share Insights & Key Companies

Collectively, the players accounted for a significant market share. They adopt strategies such acquisitions, product launches and collaborations to improve their position on the global market. Samsung Electronics Co., Ltd., for instance, announced in May 2019 that all 2019 Samsung Smart TVs, and selected 2018 TV models, will be equipped with the newly launched Apple TV app. It also offers AirPlay 2 support in more than 100 countries. It would allow its customers to access Apple TV channels, iTunes TV shows and movies via their Samsung smart TVs. Global market also includes local or regional players that can be defined by a specific category of home entertainment devices and cater to local or local customers. The following are some of the most prominent players in home entertainment devices:

• Samsung Electronics Co. Ltd.

• Panasonic Corporation

• Sony Corporation

• LG Electronics Inc.

• Mitsubishi Electric Corporation

• Sennheiser electronic GmbH & Co. KG

• Bose Corporation

• Koninklijke Philips N.V.

• Haier Inc.

• Microsoft Corporation

Up Market Research published a new report titled “Home Entertainment Devices Market research report which is segmented by Distribution Channel (Offline, Online), by Device (Video, Audio, Gaming Consoles), By Players/Companies Sony Corporation, Bose Corporation, Microsoft Corporation, Samsung Electronics Co Ltd, Mitsubishi Electric Corporation, Sennheiser electronic GmbH & Co KG, LG Electronics Inc, Haier Inc, Panasonic Corporation, Koninklijke Philips NV”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Home Entertainment Devices Market Report Segments:

The market is segmented by Distribution Channel (Offline, Online), by Device (Video, Audio, Gaming Consoles).

Home Entertainment Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Home Entertainment Devices Market

Overview of the regional outlook of the Home Entertainment Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Home Entertainment Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Home Entertainment Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Offline

                2. Online

                1. Video

                2. Audio

                3. Gaming Consoles

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Home Entertainment Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Home Entertainment Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.