Home Theater Audio Systems Market Report

Market Insights

"The global home theater audio systems market is expected to witness impressive growth of 5.2% CAGR in the coming years."

Home theater is a combination of electronic components which is designed to recreate the experience of watching a movie in a theater. It consists of audio systems that are produced to give the same effect as we get in a cinema hall. Most audio systems are equipped with connectivity features such as Wi-Fi and Bluetooth.

The growing number of smart homes equipped with connected communication devices is a key factor driving product demand. The ability to stream audio content wirelessly has been augmenting industry growth around the world as consumers have been adopting entertainment devices with Bluetooth and Wi-Fi connectivity. Moreover, these audio systems can be connected with portable devices such as laptops, smartphones, and tablets, which offers lucrative growth opportunities to industry players.

The COVID-19 outbreak has moderately affected the home theater audio systems industry. The ongoing COVID-19 pandemic has negatively influenced the housing sector and product demand. This is mainly due to soaring coronavirus cases, the implementation of stringent lockdown measures, and the limited movement of people to curb the spread of the virus. The pandemic has changed the lives of people worldwide, with the number of cases increasing rapidly. The pandemic affected the communication infrastructure and consumer electronic sectors, thus affecting every stakeholder in the supply chain.

Key Players

Key players operating in the home theater audio systems market are:

• Bose Corporation (US)
• Harman International Industries (US)
• Yamaha Corporation (Japan)
• Sony Corporation (Japan)
• Intex Technologies (India) Ltd (India)
• LG Electronics Inc. (South Korea)
• Samsung Electronics (South Korea)
• Pioneer Corporation (Japan)
• VOXX International Corp (US)
• Sound United LLC (US).

Segment Analysis

Distribution Channel Trends

"The offline segment accounted for the largest market share."

The home theater audio systems market is classified as offline and online. The offline segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. The brick-and-mortar retailers offer installation and after-sale services by experts. Moreover, the availability of compatible products for audio equipment works as an advantage of these stores, which further bolsters segment growth. 

Regional Insights

"Asia-Pacific accounted for the largest market share."

The Asia-Pacific market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly attributed to rapid technological advancements, well-established consumer electronics in the region, and the large presence of product manufacturers. Also, the vast availability of resources and cheap labor encourages various multinational companies to set up their manufacturing plants in APAC, which further proliferates regional market growth.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The home theater audio systems market is segmented into the following categories:

By Technology Type:

• NFC
• Bluetooth
• Wi-Fi

By Distribution Channel Type:

• Offline
• Online

By Region:

• North America
• Europe
• Asia-Pacific
• Rest of the World

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s home theater audio systems market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.