Home Entertainment - Suriname | Statista Market Forecast

Revenue in the Home Entertainment market is projected to reach US$66.8k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.99%, resulting in a projected market volume of US$112.4k by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 3.7k users by 2029.
Household penetration will be 1.5% in 2024 and is expected to hit 2.5% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$32.07.

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 Suriname has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Suriname have shifted towards home entertainment options due to several factors.

Firstly, the increasing availability and affordability of high-speed internet connections have allowed consumers to access a wide range of digital content from the comfort of their own homes. This has led to a decline in traditional forms of entertainment, such as going to the cinema or purchasing physical copies of movies and music. Instead, consumers are opting for streaming services and online platforms that offer a vast library of content at their fingertips.

Another factor influencing customer preferences is the rise of smart devices and the Internet of Things (IoT). Suriname has seen a surge in the adoption of smart TVs, gaming consoles, and other connected devices that offer immersive home entertainment experiences. These devices allow users to stream content, play games, and interact with various entertainment platforms, all from a single device.

As a result, consumers are increasingly investing in these technologies to enhance their home entertainment capabilities. Trends in the Home Entertainment market in Suriname are also influenced by global and regional market developments. One notable trend is the growing popularity of video-on-demand (VOD) services.

Platforms like Netflix, Amazon Prime, and Disney+ have gained a significant foothold in the Surinamese market, offering a wide range of movies, TV shows, and original content. This trend is driven by the convenience and flexibility of VOD services, as consumers can watch their favorite content whenever and wherever they want. Furthermore, the gaming industry has experienced remarkable growth in Suriname.

The rise of eSports and competitive gaming has attracted a large number of gamers, leading to increased demand for gaming consoles, accessories, and online gaming subscriptions. This trend is likely to continue as the gaming community in Suriname expands and becomes more engaged in eSports competitions and online gaming events. Local special circumstances also play a role in the development of the Home Entertainment market in Suriname.

The country's relatively small population and limited infrastructure make it challenging for traditional entertainment providers to reach a wide audience. Therefore, digital platforms and streaming services have become the go-to option for many consumers, offering a convenient and accessible way to enjoy entertainment content. Underlying macroeconomic factors, such as economic growth and disposable income levels, also contribute to the development of the Home Entertainment market in Suriname.

As the economy expands and incomes rise, consumers have more discretionary income to spend on entertainment products and services. This enables them to invest in home entertainment technologies and subscriptions, further driving market growth. In conclusion, the Home Entertainment market in Suriname is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

The shift towards digital content consumption, the rise of smart devices, the popularity of VOD services, and the growth of the gaming industry are all contributing to the development of the market. As Suriname's economy continues to grow and technology becomes more accessible, the Home Entertainment market is expected to expand further in the coming years.

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 - Suriname

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Product Types

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Methodology

Consumer

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Key Market Indicators

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Smart home - statistics & facts

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Home Entertainment - Suriname

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Home Entertainment: market data & analysis

Revenue

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