Home Entertainment - Benin | Statista Market Forecast

Revenue in the Home Entertainment market is projected to reach US$2.0m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.19%, resulting in a projected market volume of US$3.3m by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 94.0k users by 2029.
Household penetration will be 1.9% in 2024 and is expected to hit 3.2% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$41.03.

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 Benin has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in the Home Entertainment market in Benin have shifted towards more advanced and technologically advanced products.

Consumers are increasingly looking for products that offer high-quality audio and video experiences, as well as advanced features such as smart connectivity and streaming capabilities. This trend is in line with global market trends, as consumers worldwide are increasingly demanding more immersive and convenient entertainment experiences in their homes. One of the key trends in the Home Entertainment market in Benin is the increasing popularity of smart TVs.

These televisions offer built-in internet connectivity, allowing users to access streaming services, browse the internet, and use a variety of apps directly on their TV screens. This trend is driven by the growing availability of high-speed internet in the country, as well as the increasing popularity of streaming services such as Netflix and Amazon Prime Video. Another trend in the market is the rising demand for home theater systems.

Consumers in Benin are increasingly looking to recreate a cinematic experience in their homes, and home theater systems provide the perfect solution. These systems typically include a large screen or projector, surround sound speakers, and a media player, allowing users to enjoy a high-quality audio and visual experience. Local special circumstances also play a role in the development of the Home Entertainment market in Benin.

The country has a young and growing population, with a significant portion of the population being under the age of 25. This demographic is more likely to be tech-savvy and interested in the latest entertainment technologies, driving demand for advanced home entertainment products. Additionally, the rising disposable income levels in the country have also contributed to the growth of the market, as consumers have more purchasing power to invest in high-quality entertainment systems.

Underlying macroeconomic factors have also influenced the development of the Home Entertainment market in Benin. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income levels. This has allowed consumers to allocate more of their budget towards entertainment products and services.

Additionally, the government has been investing in improving the country's infrastructure, including the expansion of the internet network, which has facilitated the adoption of advanced home entertainment technologies. In conclusion, the Home Entertainment market in Benin is developing in response to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The increasing demand for advanced and technologically advanced products, such as smart TVs and home theater systems, is driving the growth of the market.

Additionally, the young and tech-savvy population, rising disposable income levels, and government investments in infrastructure have also contributed to the development of the 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.

Home Entertainment - Benin

Revenue

Product Types

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Methodology

Consumer

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Key Market Indicators

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Smart home - statistics & facts

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Home Entertainment - Benin

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Home Entertainment: market data & analysis

Revenue

Product Types

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