Home Entertainment - Taiwan | Statista Market Forecast

Revenue in the Home Entertainment market is projected to reach US$49.3m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.44%, resulting in a projected market volume of US$81.1m by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 1.7m users by 2029.
Household penetration will be 11.4% in 2024 and is expected to hit 20.7% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$53.25.

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 Taiwan has been experiencing significant growth in recent years. Customer preferences have shifted towards more advanced and immersive entertainment options, leading to the emergence of new trends in the market.

Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the Home Entertainment market in Taiwan. Customer preferences in Taiwan have been influenced by the increasing popularity of streaming services and online content consumption. Consumers are now seeking convenience and flexibility in their home entertainment options, opting for on-demand access to movies, TV shows, and music.

This shift in preference has led to a decline in traditional forms of entertainment, such as physical media and cable TV subscriptions. Instead, consumers are investing in smart TVs, streaming devices, and subscription-based services that offer a wide range of content at their fingertips. One of the key trends in the Home Entertainment market in Taiwan is the rise of streaming services.

Platforms like Netflix, Amazon Prime Video, and Disney+ have gained significant traction among Taiwanese consumers, who appreciate the vast library of content and the ability to watch their favorite shows and movies anytime, anywhere. This trend is further fueled by the increasing availability of high-speed internet connections and the growing adoption of smart devices. Another trend in the market is the growing demand for home theater systems and audio equipment.

Taiwanese consumers are increasingly investing in high-quality sound systems and immersive audio technologies to enhance their entertainment experience at home. This trend can be attributed to the desire for a cinematic experience within the comfort of one's own living room. Additionally, the popularity of gaming in Taiwan has also contributed to the demand for advanced audiovisual equipment.

Local special circumstances in Taiwan, such as the strong presence of local content and the popularity of Taiwanese celebrities, have influenced the Home Entertainment market. Taiwanese consumers have a strong affinity for local movies, TV shows, and music, which has led to the development of platforms and services catering specifically to this demand. This localization aspect sets the Taiwanese market apart from other regions, as it requires tailored content and marketing strategies.

Underlying macroeconomic factors, such as the increasing disposable income and the growing middle class in Taiwan, have also contributed to the development of the Home Entertainment market. As consumers have more purchasing power, they are willing to invest in premium entertainment options and devices. Additionally, the government's initiatives to promote the digital economy and the development of the technology sector have created a favorable environment for the growth of the Home Entertainment market.

In conclusion, the Home Entertainment market in Taiwan is experiencing growth due to shifting customer preferences towards streaming services and advanced audiovisual equipment. Local special circumstances, such as the popularity of local content, and underlying macroeconomic factors, including increasing disposable income, have also played a significant role in the development of the market. As the market continues to evolve, it is expected that new trends and innovations will further shape the Home Entertainment landscape in Taiwan.

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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