LG Electronics one of the prominent player in home theatre market has manufactured 3D-capable 9.1 channel aramid fiber blu-ray disc home theater system with smart TV. It comprises of blu-ray, CD / CD-R / CD-RW and DVD / DVD±R / DVD±RW supported media. Samsung Electronics has produced 1000W 5.1 channel blu-ray home entertainment system. It enable users by offering them the function to activate the speaker with their smartphones. They also provide seamless platform to share video and pictures with compatible devices.
The home theatre market is growing rapidly because of the advancements in information technology and demand for high-tech display resolution system. In home theatre consumers can view everything on screen in crystal clear clarity and with sumptuous detail. There is a level of detail and depth that HD sets simply cannot achieve at times, it achieves a level of 3D display and heightens user’s experience. Home theatre provides accessibility to potential connectivity features and long-term visual capabilities which prove useful when broadcasters innovate technology. The home theatre brightness specification that majority of UHD television manufacturers generally utilize are highly effective solutions for LCD panels that are illuminated by LED backlights using local dimming or full array dimming technologies, which significantly enhance image distinct factor.
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Home theatre market is segmented on the basis of component, audio type and channel size. By audio type segment it includes home theatre in box system, sound bar, component system and component separate. Box system is said to be a most complete and convenient home theatre system in a single package. It is easy to install and affordable home theatre system. But users may find it difficult to upgrade it that may contributes towards the slowdown of the market. Component system can be produced by the users themselves by mixing and matching the standards of numerous speakers and receivers by selecting the specific electronic system from the home theatre system.
According to Market Research Future Analysis, Home theatre market has been valued at approximately USD 31 Billion by the end of forecast period with approx. 19% of CAGR during forecast period 2018 to 2023.
Market Research Future (MRFR) recognizes the following companies as the key players in the home theatre market – Bose Corporation (U.S.), LG Electronics (South Korea), Panasonic Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Akai Electronics (Japan), Koninklijke Philips N.V., (Netherlands), Bowers & Wilkins (U.K.), Atlantic Technology (U.S.), Toshiba Corporation (Japan) among others.
North America is one of the most significant Home Theatre Market. The presence of key players coupled with the early adoption of technological advancements is expected to drive the growth of the home theatre market in the region. An upsurge in demand for consumer electronics, particularly home theatres, over the next couple of years is projected which is anticipated to expedite the expansion of the market. Additionally, the developments across the wide spectrum of sound systems are likely to influence the home theatre market expansion positively.
Europe is an important growth pocket and is projected to witness substantial growth in the foreseeable future. The increase in demand for home theatres is prognosticated to drive the proliferation of the regional market. Meanwhile, Asia Pacific is estimated to register the highest CAGR during the projection period. The factors responsible for aiding the home theater market expansion in the region include the presence of fast-developing economies and increasing purchasing power of the consumers. The region resonates strong opportunities for growth and has attracted investments from global players for setting up of manufacturing units. This, in turn, is forecasted to accelerate the revenue creation for the home theater market players in the forthcoming years.
In September 2018, IMAX, the first cinema projection standards, has launched its program regarding AV certification for home theatre setups.
In September 2018, Sony, Japan, has launched its Master Series A9F for home theatres with acoustic surface audio technology. The setup also comes with other innovative features such as an extra subwoofer channel, hands-free voice search function, and Netflix Calibrated Mode among others.
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Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
By region, MRFR analysis shows that North America region accounts for largest market share inhome theatre owing to growing entertainment industry. The growing demand for internet streaming is one of the significant reason contributing towards the growth of the market. Countries such as US and Canada is contributing mainly towards the growth of home theatre market in the region. Asia-Pacific region is constantly investing into research and development of home theatre market to directly address the requirement of citizens. Europe region is showing steady growth in home theatre market to meet the demand from citizens. The region is investing into research & development of home theatre market to emerge as a market player. Major revenue is generated from countries UK and Germany in the home theatre market.
- Investors and consultants
- System Integrators
- Research/Consultancy firms
- Technology solution providers
- IT Solution Providers
- Original Equipment Manufacturers
LIST OF TABLES
TABLE 1 HOME THEATRE MARKET, BY COMPONENT
TABLE 2 HOME THEATRE MARKET, BY TYPE
TABLE 3 HOME THEATRE MARKET, BY REGION
TABLE 4 NORTH AMERICA HOME THEATRE MARKET, BY COMPONENT
TABLE 5 NORTH AMERICA HOME THEATRE MARKET, BY TYPE
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LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 HOME THEATRE MARKET: BY COMPONENT (%)
FIGURE 3 HOME THEATRE MARKET: BY TYPE (%)
FIGURE 4 HOME THEATRE MARKET: BY REGION (%)
FIGURE 5 NORTH AMERICA HOME THEATRE MARKET, BY COMPONENT (%)
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