Home Entertainment - Chile | Statista Market Forecast

Revenue in the Home Entertainment market is projected to reach US$27.5m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.55%, resulting in a projected market volume of US$37.8m by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 1.4m users by 2029.
Household penetration will be 13.0% in 2024 and is expected to hit 30.8% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$47.81.

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 Chile has been experiencing significant growth in recent years, driven by various factors such as changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Home Entertainment market in Chile have been shifting towards more immersive and interactive experiences.

Consumers are increasingly looking for products and services that offer high-quality audio and visual experiences, such as home theater systems, surround sound speakers, and large-screen televisions. This shift in preferences can be attributed to the growing popularity of streaming services, gaming, and the desire for a more immersive entertainment experience at home. Trends in the market include the increasing adoption of smart home technologies and the rise of online streaming services.

Smart home technologies, such as voice-controlled devices and smart speakers, have gained popularity among Chilean consumers, as they offer convenience and seamless integration with other home entertainment devices. The rise of online streaming services has also contributed to the growth of the Home Entertainment market in Chile, as consumers now have access to a wide range of content from the comfort of their own homes. Local special circumstances, such as the high cost of movie tickets and the limited availability of cinemas in certain areas, have also played a role in the development of the Home Entertainment market in Chile.

As a result, more consumers are opting to invest in home entertainment systems to enjoy a cinematic experience without the need to go to a movie theater. Underlying macroeconomic factors, such as increasing disposable income and urbanization, have also contributed to the growth of the Home Entertainment market in Chile. As the economy continues to grow and more people move to urban areas, consumers have more purchasing power and are willing to spend on entertainment products and services.

In conclusion, the Home Entertainment market in Chile is experiencing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Consumers are increasingly seeking immersive and interactive entertainment experiences, leading to the adoption of technologies such as smart home devices and online streaming services. The high cost of movie tickets and limited availability of cinemas in certain areas have also driven consumers to invest in home entertainment systems.

Additionally, increasing disposable income and urbanization have contributed to the growth 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 - Chile

Revenue

Product Types

Global Comparison

Analyst Opinion

Methodology

Consumer

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Key Market Indicators

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Smart home - statistics & facts

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Home Entertainment - Chile

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Home Entertainment: market data & analysis

Revenue

Product Types

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Key Market Indicators

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