The Global Home Theatre Market is expected to reach $13,050.2 million by 2025, growing at a CAGR of 8.3% during 2019 -2025. The North America market dominated the Global Home Theatre Market by Region 2018, thereby, growing at a CAGR of 7.9 % during the forecast period. The Asia Pacific market is expected to witness a CAGR of 9.6% during (2019 - 2025).
Home Theatre is understood as an arrangement of audio and video modules intended to reinvent the experience of watching movies in a multiplex or theatre. Home Theatres is surely one of the most inventive and premium innovations materialized in recent times and have enhanced the entertainment experience by many levels. With time, the home theatre has seen an evolution with ever advancing technology and media. Newer products are being introduced by manufacturers, now compatible with a number of communication devices thereby fuelling the demand for home theatres by the tech savy customers. The latest home theatre systems have exciting feature of voice assistance like Echo and Alexa.
With the rise in internet connectivity, the internet subscriber base is expanding globally year after year. The world is landing in digitalization era with internet connectivity becoming essential for a normal lifestyle. The internet connectivity is now becoming indispensible in every area of day to day life right from work to even entertainment. As per an estimate, more than 5 billion unique mobile users and approximately 4.5 billion internet users and close to 3.5 billion social media users exist today worldwide.
These users of internet are further increasing a quite a high pace thereby leading to the awareness and utilization of online medium for work, information, media, entertainment etc. Specifically, internet is now a powerful and highly utilized medium for entertainment by the users. As a matter of fact, more than 90% of internet users watch online videos. Low price or no price is also one of the key reasons for high percentage of online users relying on internet as entertainment medium. Some of the major avenues for online entertainment sources include YouTube, Podcasts, Music streaming like Spotify or Pandora, News sites, Social media sites, eBook sites and Gaming sites among others.
The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Sony Corporation, Samsung Electronics Co., Ltd. and Toshiba Corporation are some of the forerunners in the Home Theatre Market. HARMAN, a renowned speaker maker was acquired by Samsung and became a wholly-owned subsidiary of Samsung Electronics Co., Ltd. Sony India announced the launching of its HT-S350 Soundbar offering extraordinary experience of watching music videos, movies with surround sound of cinema quality. Sony announced the launch of its newest soundbar home theatre systems - HT-S700RF and HT-S500RF in India.
Companies such as Panasonic Corporation, Sonos, Inc., LG Corporation (LG Electronics), Bose Corporation, Koninklijke Philips N.V., Bowers & Wilkins, Inc., and Atlantic Technology, Inc. are some of the key innovators in Home Theatre Market. South Korean electronics giant LG Electronics is establishing a manufacturing plant in Bangladesh. The expansion is intended to cater the local markets demand for consumer electronics products. Regular product offerings from LG in Bangladesh are majorly related to Smart TV, surround systems, state-of-the-art LED TV, refrigerators, home theatre, washing machines, vacuum cleaner, microwave oven and smartphones. Bose launched addition of Home Speaker 300 to its smart speaker family.
Key Strategies deployed in Home Theatre Market
Partnerships, Collaborations and Agreements
- Apr 2019 - Sonos has collaborated with IKEA for developing smart speakers and audio systems.
- Aug 2018 - Samsung has collaborated with Harman in order to deliver perfect sound in new soundbar lineup.
- Jun 2018 - Philips TV and Bowers & Wilkins have come to an agreement for a multi-year exclusive partnership to manufacture extraordinary products and raise the bar of visual and audio performance standards.
- Jun 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.
- Product Launches and Expansions
- July 2019 - Samsung has introduced new Home theatre system for the expansion of its audio components.
- July 2019 - Sony has launched HT-X8500 Soundbar, a Dolby Atmos?/DTS:X? single soundbar and new HT-S350 Soundbar for offering ultimate home theatre experience.
- Jun 2019 - Sony India announced the launching of its HT-S350 Soundbar offering extraordinary experience Samsung has launched Q Series soundbars with embedded features of Dolby Atmos and DTS: X technologies for expansion of its product portfolio.
- Jun 2019 - Bose launched addition of Home Speaker 300 to its smart speaker family.
- Apr 2019 - Samsung has launched Q Series soundbars with embedded features of Dolby Atmos and DTS: X technologies for expansion of its product portfolio.
- Feb 2019 - Panasonic has introduced Dolby Atmos and DTS: X, most cinematic and musically refined soundbars with optimum sound quality and smartphone control.
- 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.
- Aug 2018 - Samsung Electronics launched its two co-branded premium soundbars – the HW-N850
- Aug 2018 - Samsung announced to unveil its smart speaker, dubbed Galaxy Home. The company also informed a new partnership with Spotify, for integrating the music service into a wide range of Samsung devices including TVs, phones, and the upcoming Galaxy Home speaker. These speakers would be powered by audio technology from AKG, a subsidiary of Harman, which was acquired by Samsung last year
- Aug 2018 - Sony announced the launch of its newest soundbar home theatre systems - HT-S700RF and HT-S500RF in India.
- Aug 2018 - Sonos announced the all-new Sonos Amp, a dynamic and versatile home audio hub system which powers conventional wired speakers with sound from any source, and completely integrates these audio speakers into easy-to-use wireless home sound system from Sonos.
- 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.
- Jun 2018 - Sonos has released Sonos Beam home theatre smart home speaker for expansion of its product line.
- Apr 2018 - Panasonic Australia unveiled its first ever Hi-Fi smart speaker with exciting Google Assistant along with its full suite of voice commands, and come with Google Play Music, streaming via Spotify and much more.
- Apr 2018 - Philips India launched a new series of lifestyle entertainment products, including portable media players, home theatre systems, and headphones & docking speakers.
- Jan 2018 - South Korean electronics giant LG Electronics is establishing a manufacturing plant in Bangladesh. The expansion is intended to cater the local markets demand for consumer electronics products. Regular product offerings from LG in Bangladesh are majorly related to Smart TV, surround systems, state-of-the-art LED TV, refrigerators, home theatre, washing machines, vacuum cleaner, microwave oven and smartphones.
- Aug 2017 - Sony has released HT-RT40, its new home theatre system which has power output of 600W.
- Mergers & Acquisitions
- Mar 2017 - HARMAN, a renowned speaker maker was acquired by Samsung and became a wholly-owned subsidiary of Samsung Electronics Co., Ltd.
The report highlights the adoption of Home Theatre globally. 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 geographies included in the report are North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. For the better analysis, the geographies are segmented into countries.
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.
Scope of the Study
By Product Type
- • Home Theatre In A Box System (HTIB)
• Sound Bar
• Component System
By Distribution Channel
• Offline and
• North America
•·Rest of North America
•·Rest of Europe
• Asia Pacific
•·Rest of Asia Pacific
• Latin America, Middle East and Africa (LAMEA)
•·Rest of LAMEA
• 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