Global Home Theater Market 2018-2022
About Home Theater
A home theater is a digital surrounding audio system built in a home. It is designed to mimic (or exceed) a commercial theater performance and experience, commonly known as a home cinema. Various devices are used to provide this user-experience. For this report, we have only considered home theater speakers and sound bars as a part of the global market.
Technavio’s analysts forecast the global home theater market to grow at a CAGR of 8.04% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global home theater market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Home Theater Market 2018-2022
Technavio recognizes the following companies as the key players in the global home theater market: Bose, LG Electronics, Panasonic, SAMSUNG, and SONY.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is demand for customized home theater systems. The growing demand for customized home theatre systems will drive the growth of the home theatre market. Few manufacturers offer customized home theatre systems at premium prices. A key vendor in the market is offering customized home theatres for the CEDIA community, the luxury builders’ market, and its customers.”
According to the report, one driver in the market is growth of smart homes. Smart homes are equipped with connected devices that communicate with each other and provide enhanced consumer experience. Vendors are offering enhanced home theatre systems equipped with assistant functionalities for smart homes.
Further, the report states that one challenge in the market is high cost of home theater systems. The high cost of home theater systems will hinder their adoption during the forecast period. The availability of inexpensive in stand-alone speaker systems will pose a challenge to the market growth.