Home Entertainment - Mozambique | Statista Market Forecast

Revenue in the Home Entertainment market is projected to reach US$5.7m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.89%, resulting in a projected market volume of US$9.5m by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 278.1k users by 2029.
Household penetration will be 2.0% in 2024 and is expected to hit 3.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$39.29.

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 Mozambique is experiencing significant growth and development.

Customer preferences: Customers in Mozambique have shown a strong preference for home entertainment products such as televisions, audio systems, and gaming consoles. This can be attributed to the increasing disposable income and improving living standards in the country. Additionally, the popularity of streaming services and digital content has also contributed to the demand for home entertainment products.

Trends in the market: One of the key trends in the Home Entertainment market in Mozambique is the increasing adoption of smart TVs. These televisions offer internet connectivity and access to streaming services, allowing users to enjoy a wide range of content from the comfort of their homes. This trend is driven by the growing popularity of online streaming platforms and the desire for a more immersive viewing experience. Another trend in the market is the rising demand for audio systems and soundbars. Customers are increasingly looking for high-quality audio solutions to enhance their home entertainment experience. This trend is fueled by the desire for a cinematic experience at home and the growing popularity of music streaming services.

Local special circumstances: Mozambique has a young and tech-savvy population, which is driving the demand for home entertainment products. The country has a growing middle class with increasing disposable income, which allows consumers to invest in high-quality home entertainment products. Additionally, the urbanization and modernization of cities in Mozambique have also contributed to the demand for home entertainment products.

Underlying macroeconomic factors: The growth of the Home Entertainment market in Mozambique can be attributed to several underlying macroeconomic factors. Firstly, the country has been experiencing steady economic growth in recent years, which has resulted in an increase in disposable income. This has allowed consumers to spend more on leisure and entertainment products. Secondly, the rapid urbanization and modernization of cities in Mozambique have created a favorable environment for the Home Entertainment market. As more people move to urban areas and adopt a modern lifestyle, the demand for home entertainment products has increased. Furthermore, the government of Mozambique has been investing in infrastructure development, including the expansion of electricity access. This has improved the availability and reliability of electricity, making it easier for consumers to use and enjoy home entertainment products. In conclusion, the Home Entertainment market in Mozambique is witnessing significant growth and development. Customer preferences for smart TVs, audio systems, and gaming consoles are driving the demand for these products. The young and tech-savvy population, along with the increasing disposable income and urbanization, are contributing to the growth of the market. Additionally, the steady economic growth and government investments in infrastructure are creating a favorable environment for the Home Entertainment market in Mozambique.

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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