Canada High-End Audiophile Speakers & Custom Installed Home Theater Market - 2019-2028
There is a growing popularity of entertainment lovers all over the world as people have easier access to a vast number of entertainment solutions. This helps create opportunities working in this direction to expand their business. According to statistics released by Statistics Canada, in 2017, 77% of the total market income for Canadians was through wages, salaries and commissions. As a result, more and more people in the region were able to afford personalized entertainment solutions, which include home theater systems and audiophile speakers. Owing to a growing demand for high-end audiophile speakers and custom installed home theaters, the market is expected to witness a significant growth. As a result, the Canada high-end audiophile speakers and custom installed home theaters market is expected to grow with a CAGR of 3.68% over the forecast period of 2020 to 2028. The factors that are predicted to contribute to this growth are rising inclination towards technology by end-users, high urbanization rate, increasing spending power of millennials, and inflated participation in various events like music festivals.
In 2020, the Canada high-end audiophile speakers and custom installed home theaters market recorded a market value of around USD 120 million. This was owing to the fact that customized home theater systems have gained a significant popularity among consumers in the recent years. Additionally, the growing standard of living and increasing income levels are also expected to act as growth drivers as people look for more personalized entertainment solutions.
The Canada high-end audiophile speakers & custom installed home theater market can be segmented on the basis of product type into custom installed home theater and high-end audiophile speakers. The home audio video installations segment, which is a sub-segment of the product type segment under custom installed home theater segment, held a market share of around 35% in the year 2019. Also, in 2020, the same segment recorded a market value of around USD 30 million. The growth of the segment can be pinned to the growth in disposable incomes of consumers, rising internet penetration and shrinking life cycle & growing demand of consumer electronics, among others.
However, the availability of cheaper alternatives of the high-end products is expected to act as a major restraint in the growth of the high-end audiophile speakers and custom installed home theaters market.
Some of the affluent industry leaders in the high-end audiophile speakers and custom installed home theaters market are Design Electronics, Sonic Systems, The Sound Room, Audio Excellence, Definitive Sound, The Watershed Group, Bitstream Media, Pure Image Technology Solutions Ltd., Immersive Design Studios Inc., and Barco.
There is a growing popularity of entertainment lovers all over the world as people have easier access to a vast number of entertainment solutions. This helps create opportunities working in this direction to expand their business. According to statistics released by Statistics Canada, in 2017, 77% of the total market income for Canadians was through wages, salaries and commissions. As a result, more and more people in the region were able to afford personalized entertainment solutions, which include home theater systems and audiophile speakers. Owing to a growing demand for high-end audiophile speakers and custom installed home theaters, the market is expected to witness a significant growth. As a result, the Canada high-end audiophile speakers and custom installed home theaters market is expected to grow with a CAGR of 3.68% over the forecast period of 2020 to 2028. The factors that are predicted to contribute to this growth are rising inclination towards technology by end-users, high urbanization rate, increasing spending power of millennials, and inflated participation in various events like music festivals.
In 2020, the Canada high-end audiophile speakers and custom installed home theaters market recorded a market value of around USD 120 million. This was owing to the fact that customized home theater systems have gained a significant popularity among consumers in the recent years. Additionally, the growing standard of living and increasing income levels are also expected to act as growth drivers as people look for more personalized entertainment solutions.
The Canada high-end audiophile speakers & custom installed home theater market can be segmented on the basis of product type into custom installed home theater and high-end audiophile speakers. The home audio video installations segment, which is a sub-segment of the product type segment under custom installed home theater segment, held a market share of around 35% in the year 2019. Also, in 2020, the same segment recorded a market value of around USD 30 million. The growth of the segment can be pinned to the growth in disposable incomes of consumers, rising internet penetration and shrinking life cycle & growing demand of consumer electronics, among others.
However, the availability of cheaper alternatives of the high-end products is expected to act as a major restraint in the growth of the high-end audiophile speakers and custom installed home theaters market.
Some of the affluent industry leaders in the high-end audiophile speakers and custom installed home theaters market are Design Electronics, Sonic Systems, The Sound Room, Audio Excellence, Definitive Sound, The Watershed Group, Bitstream Media, Pure Image Technology Solutions Ltd., Immersive Design Studios Inc., and Barco.
Table of Contents
Canada High-End Audiophile & Custom Installed Home Theater Market
Part 1 Market Definition and Research Methodology
Companies Mentioned
- Design Electronics
- Sonic Systems
- The Sound Room
- Audio Excellence
- Definitive Sound
- The Watershed Group
- Bitstream Media
- Pure Image Technology Solutions Ltd.
- Immersive Design Studios Inc.
- Barco.
