The Global Home Entertainment Devices Market size is expected to reach $428.9 billion by 2030, rising at a market growth of 5.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 5,36,540.5 thousand units experiencing a growth of 6.1% (2019-2022).
The popularity of gaming consoles, including systems like PlayStation, Xbox, and Nintendo Switch, has been a significant driver for the market. Consequently, the gaming consoles segment would account for nearly 12% of the total market share by 2030. These Gaming consoles offer immersive gaming experiences, combining high-quality graphics, advanced gameplay, and innovative features. Consumers seeking diverse and high-performance gaming have driven the sales and adoption of these consoles.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, in October, 2023, Sony Corporation introduced Pulse Explorer wireless earbuds. The earbuds have lossless PlayStation link technology and ultra-low latency mode along with AI-powered noise cancellation. Moreover, in September,2023, LG Corporation unveiled LG MAGNIT, a Micro LED residential display. The display comes in a 118-inch size and has a 0.6 mm 4K resolution.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd. (Samsung Group), LG Corporation, Sony Corporation, Toshiba Corporation, Apple, Inc., Panasonic Holdings Corporation, Microsoft Corporation, Koninklijke Philips N.V., Bose Corporation and Mitsubishi Electric Corporation
The popularity of gaming consoles, including systems like PlayStation, Xbox, and Nintendo Switch, has been a significant driver for the market. Consequently, the gaming consoles segment would account for nearly 12% of the total market share by 2030. These Gaming consoles offer immersive gaming experiences, combining high-quality graphics, advanced gameplay, and innovative features. Consumers seeking diverse and high-performance gaming have driven the sales and adoption of these consoles.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, in October, 2023, Sony Corporation introduced Pulse Explorer wireless earbuds. The earbuds have lossless PlayStation link technology and ultra-low latency mode along with AI-powered noise cancellation. Moreover, in September,2023, LG Corporation unveiled LG MAGNIT, a Micro LED residential display. The display comes in a 118-inch size and has a 0.6 mm 4K resolution.
Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the Cardinal matrix; Apple, Inc. and Microsoft Corporation are the forerunners in the Market. In June, 2023, Apple, Inc. announced the launch of Apple Vision Pro, a spatial computer that smoothly integrates digital content with the physical world. The Vision Pro makes a three-dimensional user interface that can be controlled by eyes, hands, and voice. Companies such as Samsung Electronics Co., Ltd., LG Corporation and Sony Corporation are some of the key innovators in Market.Market Growth Factors
Rise of streaming services worldwide
Streaming services offer a vast library of on-demand content, allowing consumers to conveniently watch movies, TV shows, documentaries, and original programming. Installing streaming apps directly into smart TVs has become a standard feature. Smart TVs provide a seamless experience, allowing users to access popular streaming services without additional devices. The convenience of having these apps built into the TV contributes to the popularity of smart TVs. Furthermore, the demand for better picture quality has led to increased adoption of 4K Ultra HD and High Dynamic Range (HDR) technologies. Smart TVs and streaming devices with these capabilities offer sharper images, vibrant colors, and improved contrast, enhancing the overall viewing experience. These aspects will boost the demand for these devices in the coming years.Increasing demand for high-quality audio-visual experiences
Consumers are showing a strong preference for high-resolution displays, such as 4K and 8K technologies. These advancements in display technology have transformed the visual experience by offering superior image quality, sharper details, and more vibrant colors. The demand for larger screens with higher resolutions has been a significant factor propelling the demand for televisions, monitors, and display screens. Moreover, the demand for big-screen televisions and high-definition monitors has steadily risen. Bigger screens offer a more immersive viewing experience, especially with higher resolutions, contributing to market growth. These aspects will propel the demand for these devices in the coming years.Market Restraining Factors
High market saturation and competition
Larger, established brands often hold a significant market share, benefiting from consumer trust and recognition. This can make it difficult for newer or lesser-known brands to compete effectively. Many consumers tend to stick with brands they trust, making it challenging for new entrants to attract and retain customers who are already loyal to established brands. Additionally, access to retail channels and distribution networks can challenge newer companies. Established brands often have strong relationships with retailers, making it difficult for new entrants to secure prime shelf space or online visibility. Hence, these factors can reduce the demand in the market.Mode of Connectivity Outlook
On the basis of mode of connectivity, the market is divided into wireless and wired. In 2022, the wireless segment witnessed a substantial revenue share in the market. Wireless technology offers unparalleled convenience, allowing users to connect devices without the constraints of cables. This has led to the increased adoption of wireless speakers, headphones, and sound systems, providing users with flexibility in their home entertainment setup and enabling them to enjoy high-quality audio without the limitations of physical connections. Owing to these aspects, the segment will witness increased demand in the future.Type Outlook
Based on type, the market is segmented into video devices, audio devices, and gaming consoles. In 2022, the audio devices segment garnered a significant revenue share in the market. The development of advanced sound technologies, such as Dolby Atmos, DTS:X, and other immersive audio formats, has significantly enhanced the quality of sound reproduction. These systems provide users with an immersive cinematic experience by delivering high-quality sound, making them a sought-after addition to home entertainment setups. These aspects will pose lucrative growth prospects for the segment.Distribution Channel Outlook
On the basis of distribution channel, the market is segmented into offline and online. In 2022, the online segment witnessed a substantial revenue share in the market. Consumers increasingly prefer the convenience of accessing content online, anytime and anywhere, contributing to the expansion of the online home entertainment sector. This trend is further fueled by the proliferation of high-speed internet connectivity, the availability of smart devices, and the growing popularity of smart TVs. These factors will boost the demand in the segment.Regional Outlook
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific segment acquired the highest revenue share in the market. The region has embraced technological advancements swiftly. Consumers in Asia Pacific countries are willing to adopt the latest innovations in the home entertainment segment. Gaming has gained substantial popularity in the Asia Pacific region. Countries like Japan, China, and South Korea have a strong gaming culture, and the demand for gaming consoles and accessories has surged. These factors will pose lucrative growth prospects for the segment.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd. (Samsung Group), LG Corporation, Sony Corporation, Toshiba Corporation, Apple, Inc., Panasonic Holdings Corporation, Microsoft Corporation, Koninklijke Philips N.V., Bose Corporation and Mitsubishi Electric Corporation
Strategies deployed in the Market
Product Launches and Product Expansions:
- Oct-2023: Sony Corporation introduced Pulse Explorer wireless earbuds. The earbuds have lossless PlayStation link technology and ultra-low latency mode along with AI-powered noise cancellation.
- Oct-2023: Microsoft Corporation released Surface Laptop Go 3, a portable surface laptop. The laptop comes with an Intel Core i5 processor, 16GB RAM, and 256GB of storage space.
- Sep-2023: LG Corporation unveiled LG MAGNIT, a Micro LED residential display. The display comes in a 118-inch size and has a 0.6 mm 4K resolution.
- Sep-2023: Toshiba Corporation introduced the Toshiba Z870 TV. The TV features a 144Hz Mini LED 4K display and REGZA Engine ZRi for providing an enhanced display output. Additionally, the TV has REGZA Bass Woofer Pro and ZR 2.1.2 Surround Sound System for delivering an unmatched audio experience.
- Aug-2023: Koninklijke Philips N.V. announced the launch of the Philips TAB7007 soundbar. The soundbar comes with a 2.1-channel wireless subwoofer for a multidimensional audio experience and two front-firing speakers for providing a surround sound effect.
- Jul-2023: LG Corporation announced the launch of and LG TONE Fit TF7 earbuds. The earbuds are IP67 rated and as such, are resistant to dust, sweat, and rain which facilitates the users to use them in any condition. Additionally, the earbuds have Active Noise Cancellation (ANC) technology for quality sound isolation.
- Jul-2023: Toshiba Corporation released the M650 TV. The TV features Mini LED technology powered by REGZA Engine ZR used for delivering an enhanced viewing experience. Additionally, it has a Dolby Atmos-powered dedicated subwoofer for delivering a three-dimensional sound experience.
- Jun-2023: Apple, Inc. announced the launch of Apple Vision Pro, a spatial computer that smoothly integrates digital content with the physical world. The Vision Pro makes a three-dimensional user interface that can be controlled by eyes, hands, and voice. It features a vision spatial operating system to deliver a seamless interaction experience.
- May-2023: Samsung Electronics Co., Ltd. released M8 and M7 customizable smart monitors. The monitors feature an 11.39mm back thickness and height-adjustable stand to allow users to orient the view according to their preference.
- May-2023: Panasonic Holdings Corporation released Panasonic Google TV. The TVs come in screen sizes of 32-inch, 43-inch, 55-inch, 65-inch, and 75-inch and are powered by 4K Colour Engine, Hexa Chrome, and Accuview Display for enhanced viewing experience.
- Mar-2023: Sony Corporation unveiled the BRAVIA XR TV Lineup. The TVs in the lineup include X90L Full Array LED, X95L and X93L Mini LED, A80L OLED, and A95L QD-OLED. All the TVs in the lineup feature a Cognitive Processor XR, which provides unmatched display quality, and an Acoustic Center Sync that syncs the TV audio with the center channel of a compatible Sony soundbar creating an immersive homelike experience for the users.
- Jan-2023: Apple, Inc. introduced HomePod portable smart speaker. The speaker comes with recent Apple innovations and Siri intelligence for an unmatched listening experience.
- Oct-2022: Apple, Inc. introduced Apple TV 4K. The TV is powered by Apple's A15 Bionic chip for delivering a better gameplay experience. Additionally, the TV comes in two configurations Apple TV 4K (Wi-Fi) and Apple TV 4K (Wi-Fi + Ethernet).
- Jan-2022: Samsung Electronics Co., Ltd. released The Freestyle, a portable projector, ambient lighting, and smart speaker device. The device features 180-degree rotational capabilities that allow users to view videos anywhere.
- Oct-2021: Bose Corporation released SoundLink Flex portable speakers. The speaker features an ultra-rugged that makes it ideal for hiking applications and has Bose PositionIQ technology for detecting the speaker position. Additionally, it has a 12-hour long playtime.
- Jul-2021: Sony Corporation announced the launch of the Alpha ZV-E10 camera. The camera features a 24.2-megapixel APS-C Exmor CMOS sensor along with a BIONZ X image processing engine for producing high-quality imagery. The camera is specifically designed for creators.
- Jul-2021: Panasonic Holdings Corporation announced the launch of the JX and JS series of Android TVs. The sizes within the series range from 32 to 65 inches. Some features of the TVs include a bezel-less design, Accuview Display, and Hexa Chroma Drive.
Partnerships, Collaborations & Agreements:
- Jun-2023: Sony Corporation signed a partnership with Zoom Video Communications Inc., to integrate Zoom meetings into its BRAVIA TV brand. As a result of the partnership, the customers would be able to experience more realistic video communications on a large TV screen.
- Oct-2022: Samsung Electronics Co., Ltd. came into partnership with Google, an American technology company, to develop multi-system connection solutions for smart home devices. The partnership would facilitate smart home device owners to use their devices across different ecosystems.
Mergers & Acquisition:
- Jan-2022: Microsoft Corporation took over Activision Blizzard Inc., a US-based game developer. The acquisition strengthens Microsoft’s gaming business.
- Feb-2021: HARMAN International, a subsidiary of Samsung Electronics Co., Ltd., acquired Savari, Inc., an automotive technology company. The acquisition enhances HARMAN’s automotive telematics capabilities and strengthens the company's foothold in smart infrastructure solutions.
- Jan-2021: LG Corporation took over Alphonso, a TV data analysis startup based in the United States. The acquisition enhances LG's TV software capabilities in the TV business.
Geographical Expansions:
- Oct-2023: Apple, Inc. announced the launch of the Apple Store in the Chilean market. The move comes in line with Apple's growth strategy.
Scope of the Study
Market Segments Covered in the Report:
By Distribution Channel (Volume, Thousand Units, Revenue, USD Billion/Million, 2019-30)- Offline
- Online
- Wired
- Wireless
- Video Devices
- Televisions
- Projectors
- Blue-ray & DVD Players
- Digital Video Recorders
- Others
- Audio Devices
- Home Theatre in box
- Sound Bars
- Audio Players
- Headphones
- Home Radios
- Others
- Gaming Consoles
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Samsung Electronics Co., Ltd. (Samsung Group)
- LG Corporation
- Sony Corporation
- Toshiba Corporation
- Apple, Inc.
- Panasonic Holdings Corporation
- Microsoft Corporation
- Koninklijke Philips N.V.
- Bose Corporation
- Mitsubishi Electric Corporation
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Home Entertainment Devices Market by Distribution Channel
Chapter 6. Global Home Entertainment Devices Market by Mode Of Connectivity
Chapter 7. Global Home Entertainment Devices Market by Type
Chapter 8. Global Home Entertainment Devices Market by Region
Chapter 9. Company Profiles
Companies Mentioned
- Samsung Electronics Co., Ltd. (Samsung Group)
- LG Corporation
- Sony Corporation
- Toshiba Corporation
- Apple, Inc.
- Panasonic Holdings Corporation
- Microsoft Corporation
- Koninklijke Philips N.V.
- Bose Corporation
- Mitsubishi Electric Corporation
Methodology
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