Jordan O'BrienConsumers are likely to keep on buying home theatre audio systems in the near future, with one research company suggesting that the market will be worth $15 billion by 2025. According to Persistence Market Research, multi-room audio systems will be a key factor in the growth of the market.
The key takeaways from the report include:
- Low-range home theatre audio systems will remain sought after, based on price range. Sales of premium home theatre audio systems will register fastest growth in the market. In addition, revenues from sales of mid-range home theatre audio systems will remain comparatively higher than that of premium home theatre audio systems.
- Un-organised retail stores will remain the most lucrative sales channel for home theatre audio systems, expanding at the highest compound annual growth rate (CAGR) through 2025. Sales of home theatre audio systems in organised sales channel will account for revenues worth $5,909.2 million by 2025-end.
- By technology, Bluetooth home theatre audio systems will remain dominant in the market, followed by Wi-Fi. In addition, sales of Wi-Fi and NFC home theatre audio systems are estimated to exhibit parallel expansion at 4.8% CAGR through 2025.
- More than 40 million units of 9.1 channel & above home theatre audio systems are expected to be sold by 2025-end, based on channel type. In terms of volume, sales of 6.1 channel home theatre audio systems will comparatively lower than other channel type segments in the market.
- North America will continue to be dominant in the global home theatre audio systems market, with sales poised to reach $4,748.8 million by 2025-end. Asia-Pacific (APAC) will remain the second largest market for home theatre audio systems, closely followed by Europe. However, sales in Europe will exhibit a comparatively higher CAGR than APAC through 2025.
The report makes for good reading for those in the custom installation industry, with consumers seeking out 3D-based audio formats and high-end audio systems to fill their homes. Given the squeeze in other areas of the market, such as the proliferation of consumer-grade smart home devices, the home theatre audio market could be the gold mine installers have been waiting for.