Home Entertainment - India

India

In 2024, the projected revenue in the Home Entertainment market in India is expected to reach US$0.6bn.
This projection indicates that the market is poised for growth.
A closer look at the numbers reveals that the expected annual growth rate (CAGR 2024-2028) is 3.70%, which will result in a projected market volume of US$0.7bn by 2028.
This indicates a positive trend in the Home Entertainment market in India.
Moreover, it is expected that the number of active households in the Home Entertainment market will increase to 26.2m users by 2028.
This signifies a growing interest in home entertainment options among Indian households.
Additionally, household penetration, which currently stands at 3.7% in 2024, is projected to reach 7.1% by 2028.
This indicates that a larger portion of Indian households will be adopting home entertainment technologies over the coming years.
In terms of revenue per installed Smart_Home, the average is expected to be US$51.28.
This indicates the potential for revenue generation from Smart_Home installations in the Home Entertainment market in India.
When compared globally, it is worth noting that 0 leads in generating revenue in the Home Entertainment market.
In 2024, 0 is projected to generate 0.
This demonstrates the significant market size and potential revenue that 0 captures in the Home Entertainment market industry.
Overall, these numbers highlight the growth and potential of the Home Entertainment market in India.
With increasing revenue, active households, and household penetration, in India is poised to become a significant player in the global Home Entertainment market.
With the rise of streaming services and increasing disposable incomes, India is witnessing a surge in demand for high-end home entertainment systems.

Key regions: United States, Australia, United Kingdom, Germany, South Korea

Market

Region

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Currency

Analyst Opinion

Products in the Home Entertainment segment are multi-room music devices, remote controls dedicated to entertainment use cases and streaming devices. By definition we exclude smart TVs, since only a small share of their revenue is related to their ability to connect to the internet. The competitors for multi-room music devices in the market are both traditional companies with a focus on audio devices such as Bose, Sony or Panasonic, as well as young companies such as Sonos or Klipsch. The smart speaker trend already took a considerable share of the Entertainment segment. Companies have to adopt and integrate smart assistants. Also streaming devices could see potential losses in the future when more and more smart TVs will integrate similar features.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.