Home Entertainment - Oman | Statista Market Forecast

Revenue in the Home Entertainment market is projected to reach US$2.5m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.90%, resulting in a projected market volume of US$4.0m by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 77.3k users by 2029.
Household penetration will be 5.4% in 2024 and is expected to hit 9.2% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$59.07.

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

Consumers are increasingly looking for products and services that provide a high-quality audio and visual experience, such as smart TVs, home theater systems, and gaming consoles. This trend is in line with global market preferences, as customers seek to recreate the cinema or gaming experience in the comfort of their own homes. Trends in the market show that there is a growing demand for streaming services and online content in Oman.

With the increasing availability of high-speed internet and the popularity of smartphones and tablets, consumers are turning to online platforms for their entertainment needs. This trend is also driven by the convenience and accessibility of streaming services, which offer a wide range of content at affordable prices. Local special circumstances in Oman also contribute to the development of the Home Entertainment market.

The country has a young and tech-savvy population, which is driving the adoption of new technologies and devices. Additionally, the government of Oman has been investing in infrastructure development, including the expansion of broadband internet services, which further supports the growth of the Home Entertainment market. Underlying macroeconomic factors, such as rising disposable incomes and urbanization, also play a role in the development of the Home Entertainment market in Oman.

As the economy grows and more people move to urban areas, there is an increased demand for entertainment options. This is particularly true for the younger generation, who are more likely to spend their disposable income on entertainment products and services. In conclusion, the Home Entertainment market in Oman is experiencing growth due to changing customer preferences, the availability of new technologies, and underlying macroeconomic factors.

Consumers are seeking more immersive and interactive experiences, leading to increased demand for products and services that provide high-quality audio and visual experiences. The popularity of streaming services and online content is also on the rise, driven by the convenience and accessibility they offer. Local special circumstances, such as a young and tech-savvy population and government investments in infrastructure, further support 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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