Global home entertainment market is estimated to reach $294,969 million by 2022. Home entertainment market includes products and systems used in domestic or personal context. The market includes several consumer electronic products such as television sets, video players & recorders, audio equipment, and gaming devices. Over the past few years, there is a significant rise in consumer investments in entertainment products mainly owing to the increase in disposable income and development of innovative entertainment solutions from manufacturers.
The global market witnesses substantial growth due to increase in digitization of electronic goods, rapid innovations in existing products, decline in prices, and increase in tech-savvy urban population in developing countries. However, the market growth for these products is mitigated by increase in consumer shift toward mobile platforms and consumer apprehensions due to adverse effects on health from audio equipment and wireless devices.
The global home entertainment market is segmented based on product type, connectivity, and geography. Based on the product type, the market is divided into audio devices, video devices, and gaming consoles. The audio devices segment includes into home theatre in-a-box (HTiB), audio systems, home radios, sound bars, headphones and others. The video devices segment comprises televisions, Blue-ray & DVD players, projectors, DVRs, and streaming devices. By geography, the market is analyzed across four regions, namely, North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
Based on product type, the market was dominated by video devices segment in 2015. The video devices segment was majorly dominated by the television segment. The market growth for televisions is supported by the growth in customer demand for smart TVs. Smart TVs presently make up only small portion of overall sales, the adoption of these devices is expected to grow with increase in customer demand for web-based content.
Asia-Pacific was the most dominant geographical market for home entertainment market in 2015. It is largely driven by the growth in disposable income and growth in tech-savvy urban population from major countries such as China and India.
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