iBet uBet web content aggregator. Adding the entire web to your favor.

Revenue in the Home Entertainment market is projected to reach US$95.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.30%, resulting in a projected market volume of US$112.0m by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 1.7m users by 2029.
Household penetration will be 25.6% in 2024 and is expected to hit 54.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$124.70.

Definition:

Home Entertainmentmarket comprises the sale of products for multi-room entertainment (e.g., sound systems) as well as connected remote controls and streaming devices (e.g., Amazon Fire TV stick, Google Chromecast).
General, freely programmable buttons and switches (see Control & Connectivity) or light bulbs for different lighting scenarios (see Comfort & Lighting) are not included. Smart TVs are also not considered here because their functions are, in most cases, not directly controlled via the Internet but networking is primarily used for the retrieval of media content.

Additional Information:

The market comprises revenue, average revenue per smart home, number of smart homes so as the household penetration rate by smart home, and key players. Figures are generated through both online and offline sales channels and include exclusive spending by consumers (B2C). Market leaders include Amazon, Google, Harman Kardon, Samsung, Bose, and other brands renowned for their innovation, brand recognition, and expansive distribution channels within their respective categories. For more information on the data displayed, use the info button right next to the boxes.

Digitally connected and controlled devices for entertainment purposes
Various multiroom entertainment systems (audio and/or video) with a primary focus on entertainment (e.g., Juke 6& 8, Sonos Era 100 Arc 5.1 Heimkino Set)
Streaming devices (e.g., Amazon Fire TV stick, Google Chromecast)
Entertainment remotes

Classical entertainment devices without smart home connection
Smart TVs and receivers without smart home integration
Smart speakers with a primary focus on Control & Connectivity (Amazon Echo, Google Home etc.)
B2B/C2C sales of any kind (e.g. to hotels or office buildings)

The Home Entertainment market in Denmark has been experiencing significant growth in recent years, driven by changing customer preferences and advancements in technology.

Customer preferences: Danish consumers have shown a strong preference for home entertainment options that offer convenience and flexibility. With busy lifestyles and a desire for on-demand content, streaming services have become increasingly popular. Platforms like Netflix and HBO Nordic have gained a strong foothold in the Danish market, offering a wide range of movies, TV shows, and original content that can be accessed anytime, anywhere. In addition to streaming services, Danish consumers also value high-quality audio and visual experiences. This has led to an increased demand for high-definition televisions, soundbars, and home theater systems. Customers are willing to invest in these products to create an immersive entertainment experience in the comfort of their own homes.

Trends in the market: One of the key trends in the Danish Home Entertainment market is the rise of smart home technology. Danish consumers are embracing smart speakers, voice assistants, and other connected devices that can seamlessly integrate with their entertainment systems. This allows them to control their audio and visual experiences with simple voice commands, enhancing convenience and ease of use. Another trend is the growing popularity of gaming consoles. Danish consumers, particularly younger demographics, are avid gamers and are willing to invest in gaming consoles, accessories, and the latest game releases. This has led to increased competition among gaming console manufacturers, with companies like Sony and Microsoft constantly innovating and releasing new products to capture the Danish market.

Local special circumstances: Denmark has a strong culture of design and innovation, which has influenced the Home Entertainment market. Danish consumers appreciate sleek and minimalist designs, and this preference is reflected in the products available in the market. Companies like Bang & Olufsen, known for their high-end audio and visual products, have a strong presence in the Danish market and cater to the demand for stylish and premium home entertainment solutions.

Underlying macroeconomic factors: Denmark has a high standard of living and a strong economy, which has contributed to the growth of the Home Entertainment market. With disposable income levels on the rise, Danish consumers have more purchasing power to invest in home entertainment products and services. Additionally, the government's focus on digital infrastructure and connectivity has created an environment conducive to the growth of the market, ensuring that Danish consumers have access to high-speed internet and the latest technologies. In conclusion, the Home Entertainment market in Denmark is experiencing growth driven by customer preferences for convenience, high-quality experiences, and the adoption of smart home technology. Danish consumers value streaming services, high-definition televisions, and immersive audio systems. The rise of smart home technology and gaming consoles are also key trends in the market. The Danish market's emphasis on design and innovation, along with the country's strong economy and digital infrastructure, further contribute to the growth of the Home Entertainment market.

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 category. 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 innovative products 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 once a year, in case market dynamics change we do more frequent updates.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Smart homes use connected devices and appliances to perform actions, tasks, and automated routines to save money, time, and energy. They are the ongoing revolution of the humble home appliance mixed with AI, robotics, and improvement in IoT technologies. AI in particular, speeding up response times and working as an automation bridge between homeowner and home is already having an impact.

After a day spent working or studying, everybody needs to relax: be it watching movies, listening to music, or playing games. Today, consumers can choose from an array of technological products to perform such activities. Known as entertainment devices, they can be defined as devices used for viewing and playing various types of media. As part of the consumer electronics industry, entertainment devices include TVs and streaming devices, smartphones, laptops, tablets, gaming consoles, and extended reality (XR) devices, such as virtual reality headsets.