People now-a-days live modern lifestyles with higher standard of living due to increased disposable income. Also, the use of machines at home or at workplaces makes life of people easier. Home entertainment devices have become one of the important parts of today’s lifestyle of individuals. A home entertainment device is a set of video and audio components which provides the similar exciting experience of watching a movie inside a cinema theater in the comfort of one’s own living room. The demand for innovative, smart, connected, and quality devices at home has become a trend due to rising standard of living and changing lifestyles. This factor has great impact on the home entertainment devices market. Various types of home entertainment devices are available in the market with a range of features. The smart connected entertainment devices are popular in urban homes. The market includes a number of consumer electronic products such as television sets, audio equipment, video players & recorders, and gaming devices. A home entertainment system should have good audio output coming from the speakers. Some consumers buy additional audio equipment such as subwoofers and other audio devices for better experience.
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The growth of the home entertainment devices market is
fueled by factors such as increase in disposable income, increase in population
of middle class individuals who can afford various home entertainment devices,
increasing levels of standard of living, and changing lifestyle preferences.
Furthermore, development of new technology and connected innovative products,
and decline in price of home entertainment products are also acting as growth
drivers for the home entertainment devices market. Entertainment products are
usually considered to be luxury products, and differ from essential products
meeting the daily needs of consumers. People tend to buy luxury products due to
rise in disposable income. Also, the integration of technology and innovation
has transformed the entertainment products into smart ones. Smart connected
products provide substantial opportunities for better functionality, and
reliability than traditional entertainment products. There are some restraining
factors for the home entertainment devices market such as consumer shift to
alternate platforms such as smartphones, PC gaming, and other gaming platforms.
The home entertainment devices market is divided on the
basis of product type, connectivity, and region. Based on product type, the
home entertainment devices market is segmented into audio devices, video
devices, and gaming consoles. Audio devices are again sub divided into home
theatres, audio systems, sound bars, home radios, headphones, and others. Video
devices are sub segmented into televisions, projectors, DVD & Blue Ray
players, digital video recorders (DVR), and streaming devices. The home
entertainment devices market is classified into wired devices and wireless
devices on the basis of connectivity. Based on region, the market is segmented
into Europe, Asia Pacific (APAC), North America, South America (SA),and Middle
East & Africa (MEA). Asia Pacific region provides substantial growth
opportunities for the growth of the home entertainment devices market over the
next few years due to changing lifestyle of people in emerging economies.
Key players operating in the global home entertainment
devices market include Sony Corporation, Panasonic Corporation,
Apple Inc., LG Electronics Inc., Bose Corporation, Samsung, Koninklijke
Philips, Sennheiser Electronic, ATON, BenQ, Mitsubishi Electric Corporation,
and Artison. Companies are continuously focused on new product launch
and partnerships to remain competitive in the market. Players in the home
entertainment devices market are able to attract many consumers in the past few
years. The penetration of the home entertainment devices market is very high in
developed as well as developing economies.
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size
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trends/opportunities/challenges
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America (Mexico, Brazil, Peru, Chile, and others)
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Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium,
Netherlands, and Luxembourg)
- Eastern
Europe (Poland and Russia)
- Asia
Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle
East and Africa (GCC, Southern Africa, and North Africa)
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included under the purview of the study. By doing so, the report projects the
attractiveness of each major segment over the forecast period.
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value and volume
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shares and strategies of key players
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niche segments and regional markets
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objective assessment of the trajectory of the market
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to companies for strengthening their foothold in the market
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