Streaming devices, televisions, DVRs, Blue-ray and DVD players, and projectors are among the video equipment found in home entertainment systems. During the projection period, video devices are expected to account for 80% of the overall market share, rising 1.8x.
Audio devices, on the other hand, are predicted to increase at a faster rate despite having a much smaller market share. The drop in the price of home entertainment products has influenced sales growth. Due to rising competition from manufacturers in locations with lower manufacturing costs, price declines and stagnation have continued for years despite improvements in the industry.
Key Takeaways of Home Entertainment Device Market
· While audio devices are the fastest-growing segment in home entertainment devices, with a CAGR of more than 7%, video devices continue to dominate market share and are predicted to rise 1.8X throughout the projection period.
· With a market share of 72.8 percent, offline retail is forecast to grow at a strong CAGR of more than 5%, resulting in a 1.7-fold increase in the home entertainment devices market. The internet distribution of home entertainment devices, on the other hand, is likely to develop at a far faster rate.
· DVD players have surpassed televisions as the most popular home entertainment devices, with more than 45 percent of homes owning at least one. Blu-ray players and high-end gaming consoles are other prominent equipment in the field.
· North America controls more than a quarter of the global market for home entertainment devices. Nonetheless, the Asia Pacific area as a whole is showing signs of improvement.
Sony Corporation, Sennheiser Electronic, Apple Inc., Bose Corporation, LG Electronics, and Samsung are just a few of the major companies in the global home entertainment devices market. To stay ahead of the competition, most companies in the area are focusing their efforts on launching new products and forming partnerships.
For more information about this report https://www.factmr.com/report/4487/home-entertainment-devices-market
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