Global Home Entertainment Devices Industry to 2028
DUBLIN, February 16, 2022 /PRNewswire/ — The report “Global Home Entertainment Devices Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast to 2028” has been added to from ResearchAndMarkets.com offer.
The global home entertainment device market is expected to grow over 6% CAGR over the period 2019-2028. According to a study published by Insure Insights on the global home entertainment market, growing disposable income that leads to spending on accessories and entertainment devices is increasing the demand for home entertainment devices such as speakers, televisions, game consoles and others in the global cognitive computing market.
Strong demand for connected devices
The emergence of high-speed Internet and its technologies such as Voice over Internet Protocol (VoIP) service on mobile phones has changed users’ preference for Internet services. With the growth of internet services, the demand for connected home devices is also increasing. On-demand services entice viewers to watch content on their mobile devices, and connected devices allow users to connect mobile devices to TV screens for an enhanced viewing experience.
Another major reason for the growth of home entertainment devices is that the increase in investment in smart homes. The global smart home market is growing at a CAGR of over 12%, which, coupled with a significant increase in consumer investment in entertainment products, is driving the demand for connected home entertainment devices.
Bluetooth technology is driving the adoption of wireless audio devices in the global home entertainment device market
Among the connectivity segments of the global home entertainment market, wireless devices are expected to show significant growth in the future over wired home entertainment devices. Changing consumer preferences in the market and increasing consumer shift towards portable devices is supporting the growth of Bluetooth speakers and audio devices in the market. Bluetooth Speakers Widely adopted in recent years, Bluetooth speakers come in many shapes and sizes, meeting consumer demands.
Rapid innovations and increasing R&D expenditures with new innovative applications are driving the demand for Bluetooth speakers in the global market. The growing penetration of smartphones and increasing consumer awareness have further boosted the demand for home audio devices worldwide. Additionally, the demand for audio devices, including home theater systems, and soundbars are also gaining popularity for enhanced sound quality for events such as social gatherings and house parties are expected to drive the demand for these audio devices during the forecast period.
Product availability and rapid innovation to benefit the APAC market
APAC has dominated the global home and entertainment device market over the forecast period due to increasing disposable income and growing inclination towards leisure and entertainment activities. Another major reason for the growth of the market in the region is the availability of raw materials and labor at minimum cost in China, India, and other countries. Furthermore, regional and global players in the region are focusing on and developing innovative products at discount prices, which is also generating huge demand for home entertainment products in the region.
In October 2019, Sony announced the launch of 360 Reality Audio technology with several partners around the world to provide the best audio experience to its customers. The company uses its object-based spatial audio technology to create a virtual spherical environment around listeners.
Players introduce new products in order to satisfy more customers
The global home entertainment device market is expected to remain fragmented with increasing number of new entrants in the coming years. Samsung, Sony, LG, Microsoft, Bose, Sennheiser electronic, Panasonic among others could be at the forefront of competition in the global home entertainment device market. The players are innovating and introducing new products in order to gain major market shares in the coming years. Some recent product launches are listed below:
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Main topics covered:
Chapter 1 Overview and Scope
Chapter 2 Our Research Practice
Chapter 3 Executive Summary
Chapter 4 Covid-19 Impact Analysis
4.2 Prevalence analysis
4.3 Impact Analysis of Key Drivers
Chapter 5 Global Home Entertainment Devices Market Forces
5.1 What are the market drivers
5.2 Porter’s Five Forces Analysis
5.2.1 Authority of suppliers
5.2.2 Threats from new entrants
5.2.3 Power of the buyer
5.2.4 Threat of Substitute Product
5.2.5 Degree of competition
Chapter 6 Global Home Entertainment Devices Market-Instant Industry
6.1.1 Global Home Entertainment Devices Market Value, 2019- 2028, (USD Billion)
6.2 Market Overview
6.2.1 Driver analysis
6.2.2 Analysis of constraints/challenges
6.2.3 Opportunity analysis
6.3 Supply Chain/Value Chain Analysis
6.4 SWOT Analysis of the Market
Chapter 7 Global Home Entertainment Devices Market Analysis, By Type
7.2 Key Findings for Home Entertainment Devices Market – By Type
7.2.1 Home Entertainment Devices Market – Audio Devices
7.2.2 Home Entertainment Devices Market – Video Devices
7.2.3 Home Entertainment Devices Market – Game Consoles
Chapter 8 Global Home Entertainment Devices Market Analysis, By Connectivity
8.2 Key Findings for Home Entertainment Devices Market – By Connectivity
8.2.1 Home Entertainment Devices Market – Cable
8.2.2 Home Entertainment Devices Market – Wireless
Chapter 9 Home Entertainment Devices Market Analysis by Regions
Chapter 10 Market Competition Analysis
10.1 Market Share/Positioning Analysis
10.1.1 Market Positioning of Major Vendors, 2019
10.1.2 Key Strategies Adopted by Major Players
10.1.3 Recent Developments
Chapter 11 Company Profiles – Overview
11.1 SONY COMPANY
11.1.1 Business fundamentals
11.1.2 Financial Overviews
11.1.3 Product Portfolio
11.1.4 Recent Developments
11.2 PANASONIC COMPANY
11.3 SAMSUNG ELECTRONICS CO., LTD.
11.4 APPLE INC.
11.5 LG ELECTRONICS, INC.
11.6 SENNHEISER ELECTRONIC GMBH & CO. KG
11.7 KONINKLIJKE PHILIPS NV
11.8 BOSE CORPORATION
11.9 MICROSOFT COMPANY
11.10 MITSUBISHI ELECTRIC CORPORATION
Chapter 12 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/eenrly
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