Home entertainment is the product category name for electrical goods that include TVs, sound systems, DVD players, and games consoles. According to the new Allied Market Research report, the global home entertainment devices industry generated $264.65 billion in 2020, and is estimated to reach $545.14 billion by 2031, witnessing a CAGR of 6.2% from 2022 to 2031.

The rise in digitalization of electronic goods, innovations in existing products, and reduced prices of entertainment products drive the growth of the global home entertainment devices market. However, the shift toward mobile platforms and consumer worries regarding adverse effects on health from audio equipment and wireless devices restrain the market growth. On the other hand, the surge in the tech-savvy urban population in developing countries creates new opportunities in the coming years.

• During the Covid-19 pandemic, the governments of many countries implemented lockdown measures. This led to a surge in demand for home entertainment devices such as projectors, streaming devices, gaming consoles, and headphones. However, the transportation restriction created a supply-demand gap.
• The distribution activities were affected due to lockdown restrictions. Offline stores were closed; however, delivery activities for orders placed through online channels were stopped during the initial stages of the lockdown. Distribution activities will get back on track post-lockdown.

The video devices segment to continue its lead position during the forecast period

Based on type, the video devices segment accounted for the highest share in 2020, contributing to more than four-fifths of the global home entertainment devices market, and is estimated to continue its lead position during the forecast period. Moreover, this segment is estimated to manifest the largest CAGR of 6.4% from 2022 to 2031. This is due to rise in consumer demand for high-performance home theatre experience and increased household disposable income. The research also analyzes the segments including audio equipment and gaming consoles.

The offline segment to continue its lead position throughout the forecast period Home Entertainment

Based on distribution channel, the offline segment accounted for the largest share in 2020, holding more than half of the global home entertainment devices market, and is projected to continue its lead position throughout the forecast period. This is attributed to ability to test the efficiency and effectiveness of the products. However, the online segment is expected to portray the highest CAGR of 7.0% from 2022 to 2031, owing to large selection of products and simple return policies.

Asia-Pacific, followed by North America, to maintain its dominance in terms of revenue by 2031

Based on region, Asia-Pacific, followed by North America, held the highest market share in 2020, accounting for around one-third of the global home entertainment devices market, and is projected to maintain its dominance in terms of revenue by 2031. Moreover, this region is projected to manifest the fastest CAGR of 6.8% during the forecast period, owing to high population density, rise in household income, and rapidly growing middle-class population that prefers home entertainment devices.

Leading Home Entertainment Market Players:

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