Home Entertainment - Northern Europe

Revenue in the Home Entertainment market is projected to reach US$441.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.98%, resulting in a projected market volume of US$511.0m by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 7.3m users by 2029.
Household penetration will be 18.9% in 2024 and is expected to hit 42.7% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$139.20.

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 Northern Europe is experiencing significant growth and development. Customer preferences in the region are shifting towards more immersive and interactive entertainment experiences.

Consumers are increasingly seeking out high-quality audio and visual equipment, such as 4K Ultra HD TVs and surround sound systems, to enhance their home entertainment setups. Additionally, there is a growing demand for smart home devices that integrate with entertainment systems, allowing for seamless control and customization. Trends in the market show a rise in the popularity of streaming services and digital content.

Northern European consumers are embracing the convenience and variety offered by platforms such as Netflix and Spotify, which provide access to a vast library of movies, TV shows, and music. This shift towards digital content has led to a decline in physical media sales, such as DVDs and CDs, as consumers opt for the convenience of streaming and downloading. Local special circumstances in Northern Europe play a significant role in the development of the Home Entertainment market.

The region has a high standard of living and disposable income, which allows consumers to invest in premium entertainment products and services. Additionally, the tech-savvy nature of the population contributes to the adoption of new technologies and innovations in the market. Northern European countries also have strong broadband infrastructure, enabling seamless streaming and online gaming experiences.

Underlying macroeconomic factors, such as a stable economy and low unemployment rates, contribute to the growth of the Home Entertainment market in Northern Europe. The region's strong economy allows consumers to allocate a larger portion of their income towards entertainment expenses. Furthermore, the availability of financing options and favorable interest rates make it easier for consumers to purchase high-end home entertainment products.

In conclusion, the Home Entertainment market in Northern Europe is experiencing growth and development driven by customer preferences for immersive experiences, the rise of streaming services, local special circumstances, and underlying macroeconomic factors. As technology continues to advance and consumer demands evolve, the market 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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