Market Research Report
North America Home Theatre Market (2019-2025)
|Published by||KBV Research||Product code||915349|
|Published||Content info||78 Pages
Delivery time: 1-2 business days
|North America Home Theatre Market (2019-2025)|
|Published: October 30, 2019||Content info: 78 Pages||
The North America Home Theatre Market would witness market growth of 7.9% CAGR during the forecast period (2019-2025). The enhanced ability of home theatre to have internet connectivity has really added wonders to the home theatre experience for consumers. The audio streaming features along with the capability of Bluetooth and Wi-Fi connectivity and compatibility with handheld devices such as laptops, tablets and smartphones has indeed boosted the demand for home theatres across the geographies.
The market for entertainment products has been significantly growing due to digitization of electronic goods, rapid innovations in existing products, decline in prices of entertainment products, and increase in tech-savvy urban population, especially in developing countries. Nevertheless, growing consumer shift to mobile platforms and apprehensions due to adverse effects on health from audio equipment and wireless devices are some of the factors that would limit the market growth.
The recently introduced audio systems such as HTIB (Home Theatre in a Box) and various sound bars are having Bluetooth and Wi-Fi connectivity and also capability of coupling with other media devices such as smartphones, tablets and laptops. The leading companies involved in manufacturing and offering Home Theatres are continuously striving for bringing innovative and much advanced products to further enhance the entertainment experience. The home theatre market witness the presence of technology leaders such as Bose Corporation, LG Electronics Inc., Panasonic Corporation, Yamaha Corporation and Sony Corporation among others.
The market participants are regularly upgrading their product portfolio with newer revolutionary products to cater the tech-savy consumers for premium experience. For instance, LG Electronics has launched new sound bars in order to extend its smart audio ecosystem line for enhanced experience of home theatre.
In Dec 2018, LG Electronics (LG) announced the introduction of its latest sound bar lineup at CES 2019 combined with the advanced "smart" technologies which are becoming necessary for home integration. LG's newest variety of soundbars is in collaboration with Meridian Audio leveraging its the electroacoustic design, artificial intelligence features. In Feb 2019, Panasonic has introduced Dolby Atmos and DTS:X, most cinematic and musically refined soundbars with optimum sound quality and smartphone control.
In July 2019, Samsung has introduced new Home theatre system for the expansion of its audio components. In June 2018, Sonos has released Sonos Beam home theatre smart home speaker for expansion of its product line. In Aug 2018, Bose Corporation launched its new smart home speaker 500 and two sound bars, Bose Soundbar 700 and Soundbar 500 for home theater and music.
Further, as a common strategic move, companies are enhancing their capability through acquisitions, partnerships and collaborations. In June 2016, Bose Corporation entered in an agreement for expanding its strategic partnership with Flex. According to this agreement, the ownership and operation of Bose's development and manufacturing operations in Mexico, San Luis, Penang and Malaysia will be transferred to Flex. The agreement also allows Bose to have larger access to supply chain solutions of Flex, Thereby accelerating the speed-to-market, globally. In April 2019, Sonos has collaborated with IKEA for developing smart speakers and audio systems.
The report highlights the adoption of Home Theatre in North America. Based on Product Type, the market is segmented into Home Theatre In A Box System (HTIB), Sound Bar and Component System. Based on Distribution Channel, the market is segmented into Offline and Online. The report also covers geographical segmentation of Home Theatre market. The countries included in the report are USA, Canada, Mexico and Rest of North America.
Key market participants profiled in this report includes Bose Corporation, Sonos, Inc., Bowers &Wilkins Inc., Atlantic Technology Inc., LG Corporation (LG Electronics), Panasonic Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Sony Corporation, Koninklijke Philips N.V. and Toshiba Corporation.