The global home entertainment devices market is segmented based on product type, connectivity, and geography. Based on the product type, the market is divided into audio devices, video devices, and gaming consoles. The audio devices market has been further segmented into home theatre in-a-box (HTiB), audio systems, home radios, sound bars, headphones and others. The video devices segment includes televisions, Blue-ray & DVD players, projectors, DVRs, and streaming devices. Video devices were the most dominant product type accounting for around 84.6% of the overall market in 2015. The video devices division was majorly dominated by the television segment. The market growth for televisions is supported by growth in customer demand for smart TVs. Smart TVs presently make up only small portion of overall sales, the adoption of these devices is expected to grow with increase in customer demand for web-based content.
Based on the mode of connectivity, the market for home entertainment systems was segmented into wireless and wired devices. Wireless devices can refer to setup that simply has a set of wireless surround sound speakers to a system that incorporates wireless home networking. They also have inbuilt LAN devices that allow users to access the Internet and provide the benefits of networking in a cable-free environment. The market by connectivity was dominated by wired devices segment and accounted for around 77.9% of the overall market in 2015. Wireless devices are expected to grow at a faster CAGR of 9.8% and reach $104,078 million by 2022. The market for wireless devices is driven by advancements in Internet, TV, and other application technologies.
By geography, the home entertainment devices market is analyzed across four regions, namely, North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries. Asia-Pacific is the most dominant geographical market for home entertainment devices in 2015. Asia-Pacific is largely driven by the growth in disposable income and tech-savvy urban population from major countries such as China and India. Asia-Pacific is estimated to grow at a CAGR of 7.9%.
Key findings of the Home Entertainment Devices Market:
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