As per the report, the global home entertainment market is predicted to grow at a CAGR of over 10% during the forecast period. Devices and services are two segments under which home entertainment is broadly divided, and both of these segments have positive growth prospects. The masses are keen on the modes of entertainment that are both comfortable and economical and this is helping the market to grow. The market has had a noticeable growth in investment by the consumers in products that are entertainment related and the reason behind this is mainly because of the rising disposable incomes and the manufacture and development of new technologically advanced products.
The growing availability of content, development of connected, innovative products, and availability of electronic device combinations are the few reasons why the global home entertainment industry is growing. There is a continuous increase in the development of new content in the global entertainment industry. The high penetration of the internet across the globe is a result of the widespread global digitalization. Thus, huge amount of contents are available to the masses. The rules and regulations formulated for publishing the online contents are lesser stringent in comparison to the regular entertainment industry.
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Due to the availability of free or subscription based online videos, like web series such as fuller house and Macro Polo, short films like Deadpool: No good deed, Zygote, and Olaf’s Frozen Adventure, clips or news snapshots, users are normally spoilt for choice. With the availability of a 5 inch smartphone to a full-fledged theatre screen, the amount of content viewed, shared, developed and in the pipeline is huge.
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The introduction of loT has revolutionized the entertainment industry with the growing development of connected and integrated home entertainment products. Devices like Google Chromecast helps user get better control and viewing options, making content available on their electronic devices online. Smartphones can control home theatres and contents can also be controlled and restricted using them. Since these smart products are sold at an affordable price, therefore their demands too have been significantly increasing since their launch in the period 2014-2015.
The availability of multiple screens is one of the key factors contributing to the global home entertainment market growth. The installation of a combination of flat panel TV’s and projection screens refers to the term “Multiple Screens”. The combination of screens can be made according to the requirements of consumers.
Alongside traditional TV’s, the concept of multiple screens also benefits from the availability of video content on tablets, smart mobiles and similar smart devices that can be paired to each other via loT. These devices not only make remote access and control of the TV screens possible but also act as a secondary viewing screen. Due to the increasing availability of VOD services on websites and mobile apps, many consumers prefer viewing video contents on their smartphones.
The report profiles leading players within the global home entertainment market. Samsung Electronics, Bose, LG Electronics, Sony, and Yamaha are some of the leading players that are profiled in the report. The recent developments by players are also discussed. In addition to this, the business strategies adopted by key players have been revealed. This will enable potential investors to get a fair idea as to how to go about investing in the global home entertainment market for gaining maximum profits.
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