Home Entertainment Devices Market:
Home entertainment devices include consumer electronic products or other electronic gadgets such as video players & recorders, gaming devices, television sets, and audio equipment that are used in domestic or personal context. Increasing penetration of smartphones and internet based electronic devices has increased the demand for home entertainment devices which in result drives the market growth. For instance: Around 66% of individuals adopts smartphone in 2018, an increase from 63% in 2017 and 58% in 2016, globally, as per Zenith’s Mobile Advertising Forecasts 2017. Also, according to the Ministry of Industry and Information Technology (MIIT), China is the largest producer and exporter of consumer electronics (such as computers, laptops, mobile phones, and televisions) combinedly producing around 80% of these devices in the year 2018. As per the MIIT, China produced around 1.8 billion units of mobile phones, 300 million units of computers & laptops, and around 200 million units of televisions in 2018. Besides, the shipments of computers & laptops, televisions, and smartphones manufactured in China accounted for 20%, 20%, and 27.8% respectively of the global total in the year 2018. Also as per Statista, the number of smartphone users worldwide was 2.9 billion in 2018 and is expected to rise to 3.8 billion users in 2021. Moreover, rising consumer spending on home entertainment devices as well as increasing demand for gaming consoles among kids are the few factors responsible for growth of the market over the forecast period. For instance, as per Statista, the consumer spending on video gaming content in US was USD 17.5 billion in 2010 and rise to USD 35.4 billion of video gaming content spending in 2019. However, the high cost of home entertainment devices and shifting preference to other alternatives is the major factor restraining the growth of global Home Entertainment Devices market during the forecast period.
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The regional analysis of global Home Entertainment Devices market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the the fast adoption of new technology as well as growing penetration of the internet in developing economies and changing lifestyles of consumers have led to an increase in spending on household entertainment devices.
Major market player included in this report are:
LG Electronic, Inc.
Samsung Electronics Co., Ltd.
Sennheiser Electronic Gmbh & Co. Kg
Koninklijke Philips N.V
Mitsubishi Electric Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Home Entertainment Devices Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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