Home Entertainment Devices Market Size Worth $345.2 Billion by 2025: Grand View Research, Inc.

SAN FRANCISCO, Jan. 20, 2020 /PRNewswire/ -- The global home entertainment devices market size is expected to reach USD 345.2 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 6.3% over the forecast period. Consumer preference for systems such as televisions as a medium for entertainment is expected to be a crucial factor driving the growth of the market during the forecast period.

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Home entertainment appliances are economical and hassle-free and offer access to diverse content. Consumers enjoy having the option of watching or listening to content of their choice in the comfort of their own homes. Moreover, with increasingly hectic lifestyles, these appliances are considered as a medium to connect with friends and family during major events such as sporting events, music festivals, or TV series finales. These factors are hence expected to drive the growth of the market during the forecast period.

Key suggestions from the report:

  • Video devices is projected to register the highest CAGR of 6.6% owing to increasing consumer spending on visual entertainment activities 
  • The online segment is expected to register a CAGR of 8.2% owing to the rise in multi-brand online retailers who offer a range of home entertainment systems from several providers, thereby enabling consumers to compare product features and prices
  • Some of the key players operating in the global market are Samsung Electronics Co. Ltd.; Sony Corporation; Panasonic Corporation; LG Electronics Inc.; Mitsubishi Electric Corporation; Koninklijke Philips N.V.; Haier Inc.; Bose Corporation; Sennheiser electronic GmbH & Co. KG; and Microsoft Corporation.

Read 80 page research report with ToC on "Home Entertainment Devices Market Size, Share & Trends Analysis Report By Device (Audio, Video, Gaming Consoles), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2019 - 2025'' at: https://www.grandviewresearch.com/industry-analysis/home-entertainment-devices-market

Factors such as rising disposable income and features such as high-definition (HD), smart TVs with built in Wi-Fi for connectivity to Netflix, YouTube, and Amazon Prime among other online streaming channels play a significant role in increasing consumer spending on these devices. With the increasingly wide range of features these systems offer, consumers consider investing in these products as they offer good value for money and last several years. They also play a role in complementing the ambience of homes. These factors are expected to drive the demand for home entertainment systems over the forecast period.

Video devices accounted for a little more than 80% of the market share in 2018 and this segment is expected to continue to dominate the market over the forecast period. A number of households are inclined toward systems such as television as their prime choice of entertainment, which is likely to boost the product demand in the coming years. Televisions also offer a number of channels as well as relatively newer features such as internet connectivity for streaming videos and downloading movies.    

Asia Pacific is expected to hold the leading position in the global market over the forecast period. Increasing household disposable income, coupled with higher spending on household leisure activities, is expected to drive the growth of the Asia Pacific market during the forecast period. 

Grand View Research has segmented the global home entertainment devices market based on device, distribution channel, and region:

  • Home Entertainment Device Outlook (Revenue, USD Million, 2015 - 2025)
    • Audio Devices
    • Video Devices
    • Gaming Consoles
  • Home Entertainment Devices Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Offline
    • Online
  • Home Entertainment Devices Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
      • U.S.
    • Europe
      • Germany
      • U.K.
    • Asia Pacific
      • China
      • Japan
      • India
    • Central and South America
      • Brazil
    • Middle East and Africa
      • South Africa

Find more research reports on Electronic & Electrical Industry, by Grand View Research:

  • Portable Bluetooth Speakers Market The global portable Bluetooth speakers market size was estimated at USD 1.21 billion in 2018 and is projected to expand at a CAGR of 11.71% from 2019 to 2025.
  • Electronic Home Locks Market  The global electronic home locks market size was valued at USD 334.3 million in 2018 and is projected to expand at a CAGR of 16.1% from 2019 to 2025.
  • Portable Media Player Market  The global portable media player market size was valued at USD 21.15 billion in 2018 and is expected to expand at a CAGR of 4.0% from 2019 to 2025.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.

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