The home theatre systems market significantly involves of sales of the home theatre systems. A home theater system involves of an enormous television with video components and digital surrounding audio system set up at home. It provides an experience of watching a movie in trivial multiplex cinema screens.
According to the report analysis, ‘Home Theatre Systems Global Market Report 2020’ states that in the home theatre systems global market there are several companies which presently functioning more actively for leading the highest market growth and registering the handsome value of market share around the globe during the near years such as Bose Corporation, LG Electronics Inc, Panasonic Corporation, Sony Corporation, Samsung Group, Bowers & Wilkins, Atlantic Technology, Definitive Technology, Golden Ear Technology, Yamaha Corporation and several others.
The significant growth in disposable incomes was a foremost driver of the home theatre systems market. The increase in disposable incomes was majorly driven by economic growth and middle class populace growth in developing regions such as China, India and Brazil. According to the World Bank, the world’s intermediate class population-defined as that receiving between USD 10 and USD 100 per day-increased from nearly 1.5 to 2 billion between 2010 and 2015. During 2017, China’s economy increased at 6.6% and India’s GDP augmented at 7.2%. The disposable personal income in India augmented to USD 2,718.6 billion in 2018 from USD 2391.5 billion in 2017. Growth in the earnings greatly developed disposable incomes in the emerging markets, rising the demand for home theatre systems market.
The worldwide home theatre systems market was valued USD 15.04 billion in 2019. It is projected to increase at a compound annual growth rate (CAGR) of 19% and reach USD 29.74 billion by 2023. The home theatre systems market has been geographically divided into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. The Asia Pacific registers for nearly 60% of the market.
Not only has this, the effective adaption of cloud services is becoming widespread in the home theater systems market. Cloud technology rightfully enable the consumers to watch videos and music online. The Video streaming platforms are implementing cloud technologies for delivering the better viewing experience. For example, the earlier consumers utilized television for watching videos and now the consumers are choosing access-based approach which enable them to subscribe to video libraries in the cloud. Therefore, corporates in the home theatre systems market are producing the advanced systems that can be linked to internet to admittance the videos online.
During August 2018, Samsung Electronics Co., Ltd, a South Korean multinational electronics corporate entered collaboration settlement with Harman Kardon Inc. This collaboration suggests Samsung Electronics Co., Ltd to further advance their audio quality and play a foremost role in increasing their premium sound bar business. Harman-Kardon Inc., US-based corporation, productions wireless audio systems, portables, speakers, headphones, amplifiers, and accessories. Therefore, in the near years, it is anticipated that the market of home theatre systems will increase around the globe more effectively over the upcoming duration.
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Global Home Theatre System Market
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