Home Entertainment - Malta | Statista Market Forecast

Revenue in the Home Entertainment market is projected to reach US$531.7k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.33%, resulting in a projected market volume of US$830.4k by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 15.9k users by 2029.
Household penetration will be 4.0% in 2024 and is expected to hit 6.9% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$59.84.

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 Malta has been experiencing significant growth in recent years, driven by changing customer preferences and the availability of new technologies. Customer preferences in Malta have shifted towards more immersive and interactive home entertainment experiences.

Consumers are increasingly looking for high-quality audio and visual systems that can replicate the experience of a movie theater or a live concert. This has led to a growing demand for large-screen televisions, surround sound systems, and home theater setups. Additionally, there is a rising interest in gaming consoles and virtual reality devices, as people seek out more interactive forms of entertainment.

One of the key trends in the market is the increasing adoption of streaming services. With the availability of high-speed internet connections, Maltese consumers are turning to platforms like Netflix, Amazon Prime Video, and Disney+ to access a wide range of movies, TV shows, and other content. This shift towards streaming has led to a decline in traditional cable and satellite TV subscriptions, as consumers prefer the convenience and flexibility of on-demand content.

Another trend in the market is the rise of smart home entertainment systems. Smart TVs, speakers, and other devices that can be controlled through voice commands or smartphone apps are becoming increasingly popular in Malta. These systems offer seamless integration with other smart home devices, allowing consumers to create a personalized and connected entertainment experience.

Local special circumstances in Malta also influence the development of the Home Entertainment market. The small size of the country and its high population density make it easier for businesses to reach a large number of consumers. Additionally, the high levels of disposable income in Malta contribute to a strong demand for premium home entertainment products and services.

Underlying macroeconomic factors, such as a growing economy and increasing consumer spending, have also played a role in the development of the Home Entertainment market in Malta. As the economy continues to expand, consumers have more disposable income to spend on leisure activities, including home entertainment. Additionally, the government's efforts to promote the development of the digital economy and improve internet infrastructure have created a favorable environment for the growth of the market.

Overall, the Home Entertainment market in Malta is experiencing growth due to changing customer preferences, the adoption of new technologies, and favorable macroeconomic conditions. As consumers continue to seek out more immersive and interactive entertainment experiences, businesses in Malta have the opportunity to capitalize on these trends and meet the evolving needs of their customers.

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 - Malta

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Methodology

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Smart home - statistics & facts

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Home Entertainment - Malta

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Home Entertainment: market data & analysis

Revenue

Product Types

Global Comparison

Analyst Opinion

Methodology

Consumer

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Key Market Indicators

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