Home theaters to Emerge in the UAE with Growing Number of Smart Homes: Ken Research
Posted on 18 September 2017 by KenResearch Consumer Products and Retail,
The major reason for the growth of the global home theater market is lack of good in-built audio systems in other large displays e.g. in LED and UHD TVs. This is because manufacturers compromise on the audio unit in such displays to keep costs low. Thus, home theater systems provide better sound quality compared to other audio units and are gaining popularity in consumer markets around the world.
Since, the developed markets are getting saturated; the focus of major home theater brands is shifting from the developed to the emerging markets. In the US, the penetration rate of home theatre systems is around 85%, while in the European countries like UK, France, Spain and Italy it is slightly lower at around 70%. Consequently, the demand in these markets is declining. In contrast, the developing countries have a lower penetration rate and thus they have a vast potential of growth owing to ever increasing consumer buying power and thus consumer demand.
Bose, LG, Panasonic, Samsung Electronics, and Sony are some of the top vendors in the global home theater market.
The report “Home Audio and Cinema in the United Arab Emirates” provides the latest retail sales data for various product categories like Audio Separates, Hi-Fi Systems, Digital Media Player Docks, Speakers, and Home Cinema Systems etc. This enables manufacturers to pinpoint the sectors that are driving the growth in this market. It offers an in-depth analysis to the size and shape of the “in-home”, portable and “in-car” consumer electronics products markets at a national level.
In 2016, home audio and cinema market has been largely driven by home cinema and speaker systems in the United Arab Emirates. Providing high quality sound and offering a perception of luxury, these kinds of products have scored high with consumers in the convenience department. Further, demand for home cinema and speaker systems is being driven by the increasing demand for “smart homes”. Consequently, however, this is resulting in the decline in traditional speakers’ sales and those of audio separates and digital media player docks.
Samsung Gulf Electronics and Sony Gulf are the market leaders in the home audio and cinema market in the United Arab Emirates, as they have managed to make up majority volume shares of the market and offered trusted brand names which have a global reputation. They also offer a wide range of products which are fast gaining ground. However, competition is increasing with every passing day and sales are polarizing to a large extent.
The global home theater market is expected to grow steadily owing to the growing number of “smart homes” (where all electronic devices can be controlled remotely by a smartphone or a computer), vendors collaborating on product bundling, the popularization of cloud services and expansion to emerging markets. If observed from UAE’s perspective, the market is all set to grow in this region along with it will contribute a significant share to the global revenue.
For further reading click on the link below: