Home Entertainment - CIS | Statista Market Forecast

Revenue in the Home Entertainment market is projected to reach US$228.3m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.40%, resulting in a projected market volume of US$283.2m by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 5.9m users by 2029.
Household penetration will be 4.2% in 2024 and is expected to hit 10.0% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$92.49.

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 CIS is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Home Entertainment market in CIS are shifting towards more immersive and interactive experiences.

Consumers are increasingly seeking out products and services that offer high-quality audio and video, as well as innovative features such as virtual reality and augmented reality. This trend is fueled by the growing popularity of streaming services and the increasing availability of high-speed internet connections in the region. Additionally, consumers are placing a greater emphasis on convenience and ease of use, leading to a rise in demand for smart home entertainment systems and voice-controlled devices.

Trends in the market include the increasing adoption of smart TVs, which offer a wide range of features and connectivity options. Smart TVs allow consumers to access streaming services, browse the internet, and connect to other devices, providing a seamless and integrated entertainment experience. Another trend is the growing popularity of gaming consoles, as more consumers are turning to video games as a form of entertainment.

This trend is driven by the increasing availability of high-quality games and the rise of esports, which has gained a significant following in the region. Local special circumstances in the CIS market also contribute to the development of the Home Entertainment industry. The region has a large population of tech-savvy consumers who are eager to adopt new technologies and embrace the latest trends.

Furthermore, the relatively low cost of living in some CIS countries allows consumers to allocate a larger portion of their income towards entertainment and leisure activities. This creates a favorable environment for the growth of the Home Entertainment market. Underlying macroeconomic factors, such as increasing disposable incomes and improving economic conditions, also play a role in the development of the Home Entertainment market in CIS.

As the economies in the region continue to grow, consumers have more purchasing power and are able to afford higher-quality entertainment products and services. Additionally, the increasing urbanization in the region is driving the demand for home entertainment solutions, as consumers in cities seek to create a comfortable and entertaining living environment. In conclusion, the Home Entertainment market in CIS is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

As consumers in the region seek more immersive and interactive entertainment experiences, the market is responding with innovative products and services. With the continued growth of the CIS economies and the increasing adoption of new technologies, the Home Entertainment market in CIS is expected to continue its upward trajectory.

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.

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