Home Entertainment - Gabon | Statista Market Forecast

Revenue in the Home Entertainment market is projected to reach US$347.8k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.28%, resulting in a projected market volume of US$593.4k by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 17.0k users by 2029.
Household penetration will be 1.6% in 2024 and is expected to hit 2.8% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$39.92.

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 Gabon is experiencing significant growth and development.

Customer preferences: Customers in Gabon have shown a strong preference for home entertainment products and services. This can be attributed to several factors, including the increasing disposable income and changing lifestyles of the population. With more people opting to spend their leisure time at home, the demand for home entertainment products such as televisions, audio systems, and gaming consoles has witnessed a steady rise.

Trends in the market: One of the key trends in the home entertainment market in Gabon is the increasing popularity of smart TVs. These televisions offer a range of features such as internet connectivity, streaming services, and access to a wide variety of content. The convenience and versatility of smart TVs have made them a sought-after product among consumers in Gabon. Another trend in the market is the growing demand for audio systems and speakers. As consumers look for an immersive entertainment experience at home, they are investing in high-quality audio systems that can enhance their viewing or listening experience. This trend is driven by the increasing availability of affordable and technologically advanced audio products in the market.

Local special circumstances: Gabon is a country with a young and tech-savvy population. This demographic factor has contributed to the growing demand for home entertainment products. The younger generation, in particular, is highly influenced by global trends in technology and entertainment. The popularity of social media platforms and online streaming services has also played a significant role in shaping the preferences of consumers in Gabon.

Underlying macroeconomic factors: Gabon has experienced steady economic growth in recent years, which has resulted in an increase in disposable income. This has allowed consumers to allocate a larger portion of their budget towards entertainment and leisure activities, including home entertainment. Additionally, the government's efforts to improve infrastructure and expand access to electricity have also contributed to the growth of the home entertainment market in Gabon. In conclusion, the Home Entertainment market in Gabon is witnessing significant growth and development. Customer preferences for home entertainment products and services, such as smart TVs and audio systems, are driving this growth. The young and tech-savvy population, along with the increasing disposable income and improved infrastructure, are the key factors contributing 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.

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