Arranging tickets and rushing to cinema halls to watch an anticipated movie has become a thing of yore. With the growth of streaming media services market, watching movies has become very convenient, and there are times when the movies are released only on digital platforms like Netflix which has 137 million subscribers worldwide, Amazon Prime Video (that has more than 100 million subscribers only in the U.S.,) and others. This is followed by the perpetually propelling desire of the audience to have a theater-like experience at home. Both factors have been a major driving factor in the global home theatre market growth and size. Browse research report: industryarc.com/Report/15415/home-theatre-market.html
The detailed documentation of the home theatre market trends with in-depth market analysis can be found in a business intelligence report by IndustryARC. The report is titled, “Home Theatre Market by Output Channels (5.1 Channel, 6.1 Channel, 7.1 Channel, 9.1 Channel) & Geography – Forecast (2018 – 2023).”
Home Theatre Market – Driving Factors, Industries Benefitted, and Growing Competition –
• People are spending more on entertainment these days, and a great fraction of that money is spent on movies and music. This is majorly attributed to a remarkable increase in disposable income. Furthermore, in developed countries like the UK and US, there is an enormous surge in the number of smart homes, and home cinema is an integral part of the same. This trend has bolstered the sales of home theatre systems in those regions. Smart homes are gradually penetrating into developing countries which drive home theatre market growth in those countries.
Furthermore, smart TVs are not comprised of good-quality speakers. So, there is a product bundling going on between smart TV and companies that sell home theater in a box in order to provide a better user experience to the customers. This is producing more business opportunities for emerging players in the home theatre market.
• Due to the growing home theatre market, the demand for Bluetooth speakers of output channels 5.1, 6.1, 7.1, and 9.1 is going uphill, subsequently increasing the profitability of vendors that supply wireless speaker. Similarly, the computer industry will observe a remarkable uplift because of the audience’s palatable preference for home theater PC in which people can also stream, surf, and play games. Presumably, the DVD market is going downhill due to the sudden upsurge in streaming media services as mentioned above. However, the best viewing experience still remains the Blu-Ray DVD. So, the vendors into the DVD and DVD players manufacturing are expected to reap benefits originating from home theatre sales.
• A conspicuous challenge in the home theatre market is the incessant increase in the small and big home theatre vendors which is disturbing the competitive landscape and market share. However, the need for good quality shall remain constant, and the vendors providing a better user experience will outgrow their competitors.