Bizizz Market Research has recently published a research report, “Home Entertainment Devices Market By device type (Audio Devices, Video Devices and Gaming Consoles), distribution channel (online and offline), connectivity (Wired and Wireless), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Home Entertainment Devices Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 358.6 Bn by 2027, witnessing a CAGR of 6.6 % during the forecast period. Increased preference for entertainment and growing advanced technology home entertainment devices is propelling its market growth.
Increased penetration rate of smartphones and Internet is increasing awareness regarding digital technology and Wi-Fi connectivity are key elements projected to stimulate the market growth. Availability of these gadgets along good quality of stipulations concerned with a diversity of brands to choose from is another constituent are predicted to force the progress in this market. Stimulated industrialization along with urbanization through growing per capita income, along with these customers are focusing on substitute the choices including smartphones, mobile gaming, etc. are some forces augmenting of the market growth. Rapidly shifting changes from the customers are encouraging organizations to offer high end devices at a cost-effective means that are anticipated to propel its market progress. Moreover, the increase demand for gaming consoles by youth is a vital element propelling the growth of its market pace.
The Home Entertainment Devices market is anticipated to register a CAGR of over 6.6% during the forecast period.
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By distribution channel, offline segment held a key share in Global Home Entertainment Devices Market in 2018.
The market of home entertainment market is plunging through offline. The offline segment considered as leading market stake in 2018 and a shift in the customer preferences could substantiate the market demand during the forecast period. Customer’s inclination to purchase home entertainment devices from retail stores of specialty stores could enhance their tangibility and experience the real product features. Such properties of the offline stores could be evident in propelling the growth of home entertainment devices market. Customers could be guaranteed about merchandise design and quality superiority. These features of the offline market could dominate the market demand of home entertainment devices during the forecast period.
Asia pacific is Anticipated to Dominate the Global Home Entertainment Devices Market during the Forecast Period
The Asia Pacific region is driving the global market of home entertainment devices coupled with customer’s inclination is estimated to have a demand during the forecast period. Increasing penetration rate of the internet in developing countries are shifting customers standard of living that is contributing to the expenditure on household entertainment devices. China is anticipated to drive the Asia Pacific market, next to India is projected to sustain its profitability of this market during the forecast period.
Global Home Entertainment Devices market was moderately consolidated with key players accounting for significant share in 2018. Organizations are contributing to the global market by offering innovative products to compete with the companies.
Prominent players operating in the Global Home Entertainment Devices Market are: Koninklijke Philips, ATON, Artison, BenQ, Samsung, Panasonic Corporation, Bose Corporation, Mitsubishi Electric Corporation, LG Electronics Inc., Apple Inc., Sennheiser Electronic, and Sony Corporation., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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