Let's begin with the definition of home theatres. Home theatre is defined as 83 that are produced at our home. These home theatres are used by normal people like us in our personal space. Home theatres also consist of audio and video systems that are to be produced to give the same effect as we get in a cinema hall. Those big giant cinema halls in the mall, home theatre are supposed to produce the same effect and give you the same feel. It can be called a small cinema hall or a mini cinema hall or a personal cinema hall. Home theatres facilitate users within the option of internet streaming that enables them to access TV shows and web series from their home. It is quite interesting to have a whole cinema theatre to watch any movie browse around Netflix and chill at home in the most comfortable environment.
The home theatre market is expected to demonstrate a growth rate of approximately USD 31 billion by the year 2023. The net registered CAGR is 19 % between the forecasted period of 2017 to 2023.
COVID 19 Analysis:
In the hard times of coronavirus, it is difficult to say if there had been any upliftment in the home theatre market. People were asked to stay at home to prevent coronavirus from affecting them. What makes this disease more deadly is its unknown cure. The vaccines are not made hence prevention is better than cure. And because you don't exist so it becomes as prevention is better otherwise suffer. Due to the lockdown that was ordered in the hold world mostly the import and export services too were ceased. Lockdown forced most people to stay inside the house which means the physical companies and factories or shops that offered home theatres weren't working or functional. But because home theatre is a versatile electronic device that can be purchased online, it also gave a positive impact on its product manufacturer and purchase. Because people were mostly getting bored in their houses Netflix Amazon prime web series movies TV shows were the only engaging and entertaining sources. What's better than home theatre during the lockdown. Hence its produce did rise and is expected to even rise in the upcoming years.
The home theatre is growing tremendously in the global market due to various trends and drivers. These drivers are the factors that make the home theatre market emerge. These drivers include vendor collaboration for dynamic product generation, increase in adoption of cloud services, and expansion of the big players in the emerging markets.
Value Chain Analysis:
The home theatre market is increasing rapidly as it provides various benefits and hence adds value to the entertainment society. Home theatre is a very good source of passing your time. People usually prefer watching movies or TV serials in a much better environment which is the perfect space provided by the home theatre. Not just watching the movie and TV serials but home theatres are also used to conduct big conferences and access the TV for video calling and big meetings are held online. Home theatres have proved to be and attach support during the lockdown period for many many people.
The home theatre analysis in the global market has been divided based on the component, audio types, and speaker system.
Based On The Component
The home theatre industry in the global market has been divided based on the component into sound and display systems media players storage devices and others.
Based On The Speaker System:
The home theatres in the global market has been divided based on the speaker system into a wide range of speakers which includes front speakers, rear speakers, and subwoofers. The center speakers are described a bit further. The Centre speaker provides the user with a dynamic sound effect; it also produces the dialogues and projects the music in a much real form.
Surrounding speakers usually help in reproducing the ambiance and sound effects in the movies, TV serials, web series, etc.
Surrounding speakers are full of bandwidth bass projects, excellent sound, and clarity of words without any mumbling and jumping into what is being said.
Based On The Audio Types:
The home theatre market in the global market has been divided based on the audio types into home theatre in a box system, soundbar, component system, and component separate.
The home theatre market in the global market has been divided based on the region into North America, Asia Pacific, Europe, and the rest of the world.
The North American region holds the largest home theatre market share. Owing to the rising demands of the home theatre industry from the consumers in their region. It is evident to see high-quality audio and sound systems present in the home theatres. The home theatre industry statistics in this region are quite high. With the fastest growing CAGR in the home theatre industry in the region of Asia Pacific. There is an emergence of a growing economy from the region and also people have got the purchasing power which increases day by day.
From the rest of the world of course small and medium-sized players from other regions do contribute towards the growth of the market. And equally, benefit people of their region from the Global home theatre market.
The most prominent major key players in the Home theatre market in the global market are as follows:
Sony Corporation produces a wide range of home theatre systems. The sound system projects 1,950 power output and 5.2-inch surround sound.
Panasonic Corporation is one of the prominent players of home theatre systems. It recently manufactured 7 products of home theatre systems each with distinct technology and sound systems.
Akai electronics, one of the prominent players in the home theatre market, has manufactured a wide range of home theatre systems that consist of 5.1 channel amplifiers, realistic bass effects, USB connectivity, and FM radio.
These most prominent major key players in the Home theatre market in the global market use various strategies to cater to the increasing need of the customer. They use various policies and strategies like collaborations, mergers, and acquisitions, establishing a joint venture, developing the new production process, innovation in the existing product, expansion of business, and partnership. This is to increase their customer base in the global potential market.
Recent developments are made in the cells of audio systems. For a better feel and sound effects, many new technological sound systems are made such as home theatre in a box system, soundbar, component system, and component separate.
Frequently Asked Questions (FAQ) :
Global home theatre market is projected to grow at approximately 19% CAGR during the assessment period (2017-2023).
The valuation of the global home theatre market is estimated to increase to USD 31 BN by the end of 2023.
Growing landscape of consumer electronics industry and the rising economic growth worldwide are the major factors driving the growth of the global home theatre market.
North America holds the largest share in the global home theatre market, followed by the Asia Pacific region and Europe, respectively.
LG Electronics (South Korea), Bose Corporation (U.S.), Panasonic Corporation (Japan), Sony Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), Akai Electronics (Japan), Bowers & Wilkins (U.K.), Koninklijke Philips N.V., (Netherlands), Atlantic Technology (U.S.), and Toshiba Corporation (Japan), are some of the top players operating in the global home theatre market.
TABLE OF CONTENTS
1 MARKET INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.3 MARKET STRUCTURE
2 RESEARCH METHODOLOGY
2.1 RESEARCH TYPE
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
2.4 FORECAST MODEL
2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST
2.4.2 MARKET SIZE ESTIMATION
3 MARKET DYNAMICS
3.2 MARKET DRIVERS
3.3 MARKET CHALLENGES
3.4 MARKET OPPORTUNITIES
3.5 MARKET RESTRAINTS
4 EXECUTIVE SUMMARY
5. MARKET FACTOR ANALYSIS
5.1 PORTER’S FIVE FORCES ANALYSIS
5.2 SUPPLY CHAIN ANALYSIS
6 HOME THEATRE MARKET, BY SEGMENTS
6.2 MARKET STATISTICS
6.2.1 BY COMPONENTS
18.104.22.168 SOUND & DISPLAY SYSTEMS
22.214.171.124 MEDIA PLAYERS
126.96.36.199 STORAGE DEVICES
6.2.2 BY TYPE
188.8.131.52 HOME THEATRE IN A BOX SYSTEM
184.108.40.206 SOUND BAR
220.127.116.11 COMPONENT SYSTEM
18.104.22.168 COMPONENT SEPARATE
6.2.3 BY GEOGRAPHY
22.214.171.124 NORTH AMERICA
126.96.36.199 REST OF THE WORLD
7 COMPETITIVE ANALYSIS
7.1 MARKET SHARE ANALYSIS
7.2 COMPANY PROFILES
7.2.1 BOSE CORPORATION (U.S.)
7.2.2 LG ELECTRONICS (SOUTH KOREA)
7.2.3 PANASONIC CORPORATION (JAPAN)
7.2.4 SAMSUNG ELECTRONICS CO., LTD. (SOUTH KOREA)
7.2.5 SONY CORPORATION (JAPAN)
7.2.6 AKAI ELECTRONICS (JAPAN)
7.2.7 KONINKLIJKE PHILIPS N.V., (NEATHERLANDS)
7.2.8 BOWERS & WILKINS (U.K.)
7.2.9 ATLANTIC TECHNOLOGY (U.S.)
7.2.10 TOSHIBA CORPORATION (JAPAN)
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
TABLE 6 U.S. HOME THEATRE MARKET, BY COMPONENT
TABLE 7 U.S. HOME THEATRE MARKET, BY TYPE
TABLE 8 CANADA HOME THEATRE MARKET, BY COMPONENT
TABLE 9 CANADA HOME THEATRE MARKET, BY TYPE
TABLE 10 EUROPE HOME THEATRE MARKET, BY COMPONENT
TABLE 11 EUROPE HOME THEATRE MARKET, BY TYPE
TABLE 12 GERMANY HOME THEATRE MARKET, BY COMPONENT
TABLE 13 GERMANY HOME THEATRE MARKET, BY TYPE
TABLE 14 FRANCE HOME THEATRE MARKET, BY COMPONENT
TABLE 15 FRANCE HOME THEATRE MARKET, BY TYPE
TABLE 16 U.K. HOME THEATRE MARKET, BY COMPONENT
TABLE 17 U.K. HOME THEATRE MARKET, BY TYPE
TABLE 18 REST OF EUROPE HOME THEATRE MARKET, BY COMPONENT
TABLE 19 REST OF EUROPE HOME THEATRE MARKET, BY TYPE
TABLE 20 ASIA-PACIFIC HOME THEATRE MARKET, BY COMPONENT
TABLE 21 ASIA-PACIFIC HOME THEATRE MARKET, BY TYPE
TABLE 22 REST OF THE WORLD HOME THEATRE MARKET, BY COMPONENT
TABLE 23 REST OF THE WORLD HOME THEATRE MARKET, BY TYPE
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 (%)
FIGURE 6 NORTH AMERICA HOME THEATRE MARKET, BY TYPE (%)
FIGURE 7 EUROPE HOME THEATRE MARKET, BY COMPONENT (%)
FIGURE 8 EUROPE HOME THEATRE MARKET, BY TYPE (%)
FIGURE 9 ASIA-PACIFIC HOME THEATRE MARKET BY COMPONENT (%)
FIGURE 10 ASIA-PACIFIC HOME THEATRE MARKET, BY TYPE (%)
FIGURE 11 ROW HOME THEATRE MARKET, BY COMPONENT (%)
FIGURE 12 ROW HOME THEATRE MARKET, BY TYPE (%)