PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1181072
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1181072
Home Entertainment Device Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018-2028, Segmented By Type of Device ; Distributional Channel ; Mode of Connectivity ; Region
Global Home Entertainment Devices Market to Reach USD 424.2 Billion by 2028
The global home entertainment devices market is expected to grow at a higher CAGR due to a significant increase in demand for connected devices, which is driving the global home entertainment device industry. Furthermore, Bluetooth technology is driving wireless audio device usage, which is propelling the global home entertainment device market forward. Furthermore, the home entertainment system incorporates the Internet of things (IoT), which may act as a driving force for the increase in demand for these products as there is a growing consumer demand to connect gadgets with smartphones and have an overall connected smart-home, which will result in boosting the growth of the home entertainment devices market during the forecast period.
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global home entertainment devices market was worth USD 275.7 billion in the year 2021. The Global home entertainment devices market is projected to grow at a CAGR of 6.4% from 2022-2028 (forecast period), earning revenues of around USD 424.2 billion by the end of 2028. The market is booming owing to the substantial demand for connected devices; Bluetooth technology further accelerates wireless audio device adoption and boosts the global home entertainment device market. Additionally, with rising living standards and much more disposable income, these technologies are becoming essential parts of every family worldwide, which, combined with the increased consumer investment, is driving the global home entertainment devices market.
Rise in Demand for Video Devices Boosting the Growth of Global Home Entertainment Devices Market
Video devices are home entertainment devices that include streaming devices like televisions, DVRs, Blu-ray and DVD players, and projectors. Video devices are expected to account for 80% of the total market share, rising to almost double their current market share by growing at a 1.8x growth rate throughout the projection period. Furthermore, a decrease in the prices of video home entertainment devices is expected to influence sales and growth. Prices have been falling and stagnating for years despite innovations in the sector, owing to the rising competition from manufacturers and reduced manufacturing costs in several Asian countries, including China, Vietnam, and India.
Restraint
Inclination of Consumer Preferences towards Mobile Devices to Impact the Demand for Global Home Entertainment Devices Market
The recent rise in smartphone adoption has significantly impacted demand for home entertainment devices such as gaming consoles and televisions. Mobile phones have quickly surpassed television viewership as the most favored video device for users worldwide. Furthermore, the availability of mobile television services on phone devices has slowed the growth of televisions. The home entertainment device sector is also under significant competition from PC, mobile, and other gaming platforms. It is noted in research that consumers are inclined towards these devices over traditional ones as they can multitask on devices like PCs and laptops.
Global Home Entertainment Devices market - By Mode of Connectivity
The market is divided into wireless and wired devices based on the mode of connectivity. Wireless devices can range from a simple set of wireless surround sound speakers to a system that combines wireless home networking. They also have built-in LAN devices that allow users to connect to the Internet and profit from networking in a wire-free environment. The wired devices category led the market in 2021, being propelled by developments in the Internet, television, and other application technologies.
Regional Insights
Asia-Pacific was the largest market in 2021, and this trend is expected to continue during the forecast period. Rising internet penetration in developing countries and changing consumer lifestyles are increasing spending on entertainment devices. China is expected to dominate the Asia-Pacific market, while India continues to profit in terms of growth rate during the forecast period. Europe is expected to be its second-largest market during the forecast period. Factors such as rising disposable income and the availability of products at reasonable prices are likely to boost the regional market's growth. Also, the increasing use of IoT-connected devices and increasing demand for items that provide comfort and convenience are expected to boost product demand in Europe. Given the growing demand for subscription video-on-demand (SVOD) services in the country, Germany is expected to dominate the European market over the forecast period.
Impact of COVID-19 on Global Home Entertainment Devices Market
The unprecedented global public health emergency known as COVID-19 has had an impact on almost every business, and the long-term effects are anticipated to have an impact on industry growth throughout the course of the projected period. To ensure that key COVID-19 issues and potential future directions are taken into account when estimating future growth, it is necessary to acknowledge that the global home entertainment devices market has been impacted by global restrictions brought on by the pandemic. As restrictions are lifted in the majority of countries where a larger proportion of the population is immunized, it is expected that the global home entertainment devices industry will achieve the projected compound annual growth rate (CAGR) during the forecast period due to the need of consumers to entertain themselves after such a long period of being locked in their homes which will guide consumer behavior towards purchasing entertainment devices for their homes so that they can keep themselves entertained in case of any future restrictions because of COVID-19.
Competitive Landscape
The major market leaders include Xiaomi, Sony Corporation, Apple Inc., Panasonic Corporation, LG Electronics, Samsung Electronics, Bose Corporation, Sennheiser Electronics, Nintendo, Microsoft Corporation, Koninklijke Philips N.V., Mitsubishi Electric Corporation, among other prominent players in the market. Major market competitors use a variety of techniques, including mergers and acquisitions, innovative therapies, and others, to stay competitive and gain an advantage over rivals. The Global Home Entertainment Device Market is consolidated with the presence of several manufacturing companies globally. The market leaders retain their supremacy by spending on research and development(R&D), incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are utilized in order to maintain their market share.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global home entertainment devices market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global home entertainment devices market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. Global Home Entertainment Devices Market Variable Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Substantial Increase in Demand for Connected Devices
- 3.2.1.2. Bluetooth Technology is Accelerating Wireless Audio Device Adoption
- 3.2.2. Restraints
- 3.2.2.1. Fake/Counterfeit Products
- 3.2.3. Opportunities
- 3.2.3.1. Rise in Demand for Video Devices
- 3.2.4. Challenges
- 3.2.4.1. Inclination of Consumer Preferences towards Mobile Devices
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. Global Home Entertainment Devices Market Overview
- 4.1. Market Size & Forecast by Value, 2020-2028
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Type of Device
- 4.2.1.1. Video Devices
- 4.2.1.1.1. Televisions
- 4.2.1.1.2. DVD & Blue Ray Players
- 4.2.1.1.3. Projectors
- 4.2.1.1.4. Digital Video Recorders
- 4.2.1.1.5. Others
- 4.2.1.2. Audio Devices
- 4.2.1.2.1. Headphones
- 4.2.1.2.2. Home Theatres
- 4.2.1.2.3. Home Radios
- 4.2.1.2.4. Sound Bars
- 4.2.1.2.5. Others
- 4.2.1.3. Gaming Consoles
- 4.2.1.4. Others
- 4.2.2. By Distributional Channel
- 4.2.2.1. Online
- 4.2.2.2. Offline
- 4.2.2.2.1. Hypermarkets
- 4.2.2.2.2. Departmental Stores
- 4.2.2.2.3. Specialty Stores
- 4.2.2.2.4. Others
- 4.2.3. By Mode of Connectivity
- 4.2.3.1. Wired
- 4.2.3.2. Wireless
- 4.2.4. By Region
- 4.2.4.1. North America
- 4.2.4.2. Europe
- 4.2.4.3. The Asia-Pacific
- 4.2.4.4. Latin America
- 4.2.4.5. The Middle East and Africa
- 4.2.1. By Type of Device
5. North America Home Entertainment Device Devices Market
- 5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Type of Device
- 5.2.2. By Distribution Channel
- 5.2.3. By Mode of Connectivity
- 5.2.4. By Country
- 5.2.4.1. United States
- 5.2.4.2. Canada
6. Europe Home Entertainment Device Devices Market
- 6.1. Market Size & Forecast by Value, 2018-2028
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Type of Device
- 6.2.2. By Distribution Channel
- 6.2.3. By Mode of Connectivity
- 6.2.4. By Region
- 6.2.5. By Country
- 6.2.5.1. Germany
- 6.2.5.2. United Kingdom
- 6.2.5.3. Italy
- 6.2.5.4. France
- 6.2.5.5. Spain
- 6.2.5.6. Rest of Europe
7. The Asia-Pacific Home Entertainment Device Devices Market
- 7.1. Market Size & Forecast by Value, 2018-2028
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Type of Device
- 7.2.2. By Distribution Channel
- 7.2.3. By Mode of Connectivity
- 7.2.4. By Region
- 7.2.5. By Country
- 7.2.5.1. China
- 7.2.5.2. India
- 7.2.5.3. Japan
- 7.2.5.4. South Korea
- 7.2.5.5. Australia
- 7.2.5.6. Indonesia
- 7.2.5.7. Malaysia
- 7.2.5.8. Philippines
- 7.2.5.9. Singapore
- 7.2.5.10. Rest of Asia-Pacific
8. Latin America Home Entertainment Device Devices Market
- 8.1. Market Size & Forecast by Value, 2018-2028
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Type of Device
- 8.2.2. By Distribution Channel
- 8.2.3. By Mode of Connectivity
- 8.2.4. By Region
- 8.2.5. By Country
- 8.2.5.1. Brazil
- 8.2.5.2. Mexico
- 8.2.5.3. Argentina
- 8.2.5.4. Chile
- 8.2.5.5. Peru
- 8.2.5.6. Rest of Latin America
9. The Middle East & Africa Home Entertainment Device Devices Market
- 9.1. Market Size & Forecast by Value, 2018-2028
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Type of Device
- 9.2.2. By Distribution Channel
- 9.2.3. By Mode of Connectivity
- 9.2.4. By Region
- 9.2.5. By Country
- 9.2.5.1. Saudi Arabia
- 9.2.5.2. UAE
- 9.2.5.3. Qatar
- 9.2.5.4. South Africa
- 9.2.5.5. Iran
- 9.2.5.6. Nigeria
- 9.2.5.7. Kenya
- 9.2.5.8. Egypt
- 9.2.5.9. Algeria
- 9.2.5.10. Morocco
- 9.2.5.11. Turkey
- 9.2.5.12. Rest of Middle East & Africa
10. Competitive Landscape
- 10.1. List of Key Players and Their offerings
- 10.2. Market Share Analysis, 2021
- 10.3. Competitive Benchmarking, By Operating Parameters
- 10.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
11. Impact of Covid-19 on Global Home Entertainment Devices Market
12. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- 12.1. Xiaomi
- 12.2. Sony Corporation
- 12.3. Apple Inc.
- 12.4. Panasonic Corporation
- 12.5. LG Electronics
- 12.6. Samsung Electronics
- 12.7. Bose Corporation
- 12.8. Sennheiser Electronics
- 12.9. Nintendo
- 12.10. Microsoft Corporation
- 12.11. Koninklijke Philips N.V.
- 12.12. Mitsubishi Electric Corporation
- 12.13. Other Prominent Players
13. Key Strategic Recommendations
14. Research Methodology
- 14.1. Qualitative Research
Primary & Secondary Research
- 14.2. Quantitative Research
- 14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
- 14.4. Breakdown of Primary Research Respondents, By Region
- 14.5. Assumptions & Limitations
Note:
*Financial information in case of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
- Figure 1: Global Home Entertainment Devices Market Segmentation
- Figure 2: Global Home Entertainment Devices Market Industry Value Chain Analysis
- Figure 3: Global Home Entertainment Devices Market Size, By Value (USD Million), 2018-2028
- Figure 4: Global Home Entertainment Devices Market Share (%), By Type of Device, By Value, 2018-2028
- Figure 5: Global Home Entertainment Devices Market Share (%), By Distribution Channel, By Value, 2018-2028
- Figure 6: Global Home Entertainment Devices Market Share (%), By Mode of Connectivity, By Value, 2018-2028
- Figure 7: Global Home Entertainment Devices Market Share (%), By Region, By Value, 2018-2028
- Figure 8: North America Home Entertainment Devices Market Size, By Value (USD Million), 2018-2028
- Figure 9: North America Home Entertainment Devices Market Share (%), By Type of Device, By Value, 2018-2028
- Figure 10: North America Home Entertainment Devices Market Share (%), By Distribution Channel, By Value, 2018-2028
- Figure 11: North America Home Entertainment Devices Market Share (%), By Mode of Connectivity, By Value, 2018-2028
- Figure 12: North America Home Entertainment Devices Market Share (%), By Country, By Value, 2018-2028
- Figure 13: Europe Home Entertainment Devices Market Size, By Value (USD Million), 2018-2028
- Figure 14: Europe Home Entertainment Devices Market Share (%), By Type of Device, By Value, 2018-2028
- Figure 15: Europe Home Entertainment Devices Market Share (%), By Distribution Channel, By Value, 2018-2028
- Figure 16: Europe Home Entertainment Devices Market Share (%), By Mode of Connectivity, By Value, 2018-2028
- Figure 17: Europe Home Entertainment Devices Market Share (%), By Country, By Value, 2018-2028
- Figure 18: The Asia-Pacific Home Entertainment Devices Market Size, By Value (USD Million), 2018-2028
- Figure 19: The Asia-Pacific Home Entertainment Devices Market Share (%), By Type of Device, By Value, 2018-2028
- Figure 20: The Asia-Pacific Home Entertainment Devices Market Share (%), By Distribution Channel, By Value, 2018-2028
- Figure 21: The Asia-Pacific Home Entertainment Devices Market Share (%), By Mode of Connectivity, By Value, 2018-2028
- Figure 22: The Asia-Pacific Home Entertainment Devices Market Share (%), By Country, By Value, 2018-2028
- Figure 23: Latin America Home Entertainment Devices Market Size, By Value (USD Million), 2018-2028
- Figure 24: Latin America Home Entertainment Devices Market Share (%), By Type of Device, By Value, 2018-2028
- Figure 25: Latin America Home Entertainment Devices Market Share (%), By Distribution Channel, By Value, 2018-2028
- Figure 26: Latin America Home Entertainment Devices Market Share (%), By Mode of Connectivity, By Value, 2018-2028
- Figure 27: Latin America Home Entertainment Devices Market Share (%), By Country, By Value, 2018-2028
- Figure 28: The Middle East & Africa Home Entertainment Devices Market Size, By Value (USD Million), 2018-2028
- Figure 29: The Middle East & Africa Home Entertainment Devices Market Share (%), By Type of Device, By Value, 2018-2028
- Figure 30: The Middle East & Africa Home Entertainment Devices Market Share (%), By Distribution Channel, By Value, 2018-2028
- Figure 31: The Middle East & Africa Home Entertainment Devices Market Share (%), By Mode of Connectivity, By Value, 2018-2028
- Figure 32: The Middle East & Africa Home Entertainment Devices Market Share (%), By Country, By Value, 2018-2028
- Figure 33: Global Home Entertainment Devices Market Share Analysis, 2021
List of Tables
- Table 1: Global Home Entertainment Devices Market Size, By Type of Device, By Value (USD Million), 2018-2028
- Table 2: Global Home Entertainment Devices Market Size, By Distribution Channel, By Value (USD Million), 2018-2028
- Table 3: Global Home Entertainment Devices Market Size. By Mode of Connectivity, By Value (USD Million), 2018-2028
- Table 4: Global Home Entertainment Devices Market Size. By Region, By Value (USD Million), 2018-2028
- Table 5: North America Home Entertainment Devices Market Size, By Type of Device, By Value (USD Million), 2018-2028
- Table 6: North America Home Entertainment Devices Market Size, By Distribution Channel, By Value (USD Million), 2018-2028
- Table 7: North America Home Entertainment Devices Market Size, By Mode of Connectivity, By Value (USD Million), 2018-2028
- Table 8: North America Home Entertainment Devices Market Size, By Country, By Value (USD Million), 2018-2028
- Table 9: Europe Home Entertainment Devices Market Size, By Type of Device, By Value (USD Million), 2018-2028
- Table 10: Europe Home Entertainment Devices Market Size, By Distribution Channel, By Value (USD Million), By Value 2018-2028
- Table 11: Europe Home Entertainment Devices Market Size (USD Million), By Mode of Connectivity, By Value 2018-2028
- Table 12: Europe Home Entertainment Devices Market Size (USD Million), By Country, By Value 2018-2028
- Table 13: The Asia-Pacific Home Entertainment Devices Market Size, By Type of Device, By Value (USD Million), By Value 2018-2028
- Table 14: The Asia-Pacific Home Entertainment Devices Market Size (USD Million), By Distribution Channel, By Value 2018-2028
- Table 15: The Asia-Pacific Home Entertainment Devices Market Size (USD Million), By Mode of Connectivity, By Value 2018-2028
- Table 16: The Asia-Pacific Home Entertainment Devices Market Size (USD Million), By Country, By Value 2018-2028
Table 17: Latin America Home Entertainment Devices Market Size, By Type of Device, By Value (USD Million), By Value 2018-2028
- Table 18: Latin America Home Entertainment Devices Market Size, By Distribution Channel, By Value (USD Million), 2018-2028
- Table 19: Latin America Home Entertainment Devices Market Size (USD Million), By Mode of Connectivity, By Value 2018-2028
- Table 20: Latin America Home Entertainment Devices Market Size (USD Million), By Country, By Value 2018-2028
- Table 21: The Middle East & Africa Home Entertainment Devices Market Size, By Type of Device, By Value (USD Million), 2018-2028
- Table 22: The Middle East & Africa Home Entertainment Devices Market Size, By Distribution Channel, By Value (USD Million), 2018-2028
- Table 23: The Middle East & Africa Home Entertainment Devices Market Size (USD Million), By Mode of Connectivity, By Value 2018-2028
- Table 24: The Middle East & Africa Home Entertainment Devices Market Size (USD Million), By Country, By Value 2018-2028
- Table 25: List of Key Players and Their offerings
- Table 26: Competitive Benchmarking, by Operating Parameters
- Table 27: Sony Corporation Company Overview
- Table 28: Sony Corporation Financial Overview
- Table 29: Apple Inc. Company Overview
- Table 30: Apple Inc. Financial Overview
- Table 31: Panasonic Corporation Company Overview
- Table 32: Panasonic Financial Overview
- Table 33: LG Electronics Company Overview
- Table 34: LG Electronics Financial Overview
- Table 35: Samsung Electronics Company Overview
- Table 36: Samsung Electronics Financial Overview
- Table 37: Bose Corporation Company Overview
- Table 38: Bose Corporation Financial Overview
- Table 39: Sennheiser Electronics Company Overview
- Table 40: Sennheiser Electronics Financial Overview
- Table 41: Microsoft Corporation Company Overview
- Table 42: Microsoft Corporation Financial Overview
- Table 43: Koninklijke Philips N.V. Company Overview
- Table 44: Koninklijke Philips N.V. Financial Overview
- Table 45: Mitsubishi Electric Corporation Company Overview
- Table 46: Mitsubishi Electric Corporation Financial Overview
