Smart Television (Shutterstock image)
Flora Sanchez, Media Play News
A new report from international business analytics firm Research and Markets projects the global home entertainment system market will grow from $271.03 billion in 2023 to $388.01 billion by 2028, a compound annual growth rate of 7.44%.
“Home Entertainment System” is defined as the use of multiple electronic entertainment devices to create and reproduce a movie theater experience and mood in the home.
As disposable income levels rise in many countries, consumers have more purchasing power to invest in premium home entertainment systems. Rapid technological advancements, such as high-resolution displays, immersive audio formats, and smart connectivity options, drive the demand for home entertainment systems as consumers seek enhanced audiovisual experiences with features like 4K Ultra HD, HDR (High Dynamic Range), Dolby Atmos, and voice control.
The popularity of streaming services such as Netflix, Amazon Prime Video, and Disney+ has significantly impacted the home theater market, as consumers seek devices that can seamlessly integrate with these services.
The full report, which is available at ResearchAndMarkets.com, also provides a detailed analysis of the home theater business environment, exploring how ensuring efficient distribution channels and after-sales service can be challenging in some regions. This includes logistics, supply chain management, and timely customer support and repairs.