Home Entertainment - United Arab Emirates

United Arab Emirates

Revenue in the Home Entertainment market is projected to reach US$6.6m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.24%, resulting in a projected market volume of US$7.3m by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 208.5k users by 2029.
Household penetration will be 7.3% in 2024 and is expected to hit 11.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$51.13.

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Analyst Opinion

The Home Entertainment market in United Arab Emirates is experiencing significant growth and development in recent years.

Customer preferences: Customers in United Arab Emirates are increasingly demanding high-quality and innovative home entertainment products. They are looking for products that offer immersive and interactive experiences, such as smart TVs with advanced features and virtual reality gaming systems. Additionally, there is a growing preference for home entertainment systems that provide seamless connectivity and integration with other devices, such as smartphones and tablets.

Trends in the market: One of the key trends in the Home Entertainment market in United Arab Emirates is the increasing popularity of streaming services. With the rise of digital content consumption, customers are opting for streaming platforms that offer a wide range of movies, TV shows, and other media content. This trend is driven by the convenience and flexibility of streaming services, as customers can access their favorite content anytime and anywhere. As a result, traditional forms of home entertainment, such as DVDs and Blu-rays, are gradually being replaced by digital streaming. Another trend in the market is the growing demand for smart home entertainment systems. Customers are seeking integrated solutions that allow them to control and manage their home entertainment devices through voice commands or mobile apps. This includes features like voice-activated virtual assistants, smart home hubs, and home automation systems. The convenience and ease of use offered by smart home entertainment systems are driving their adoption in the market.

Local special circumstances: The Home Entertainment market in United Arab Emirates is influenced by the country's high disposable income and affluent consumer base. The UAE has a large expatriate population, which contributes to the demand for home entertainment products and services. Additionally, the country's strong tourism industry attracts visitors from around the world, who also contribute to the market growth. The UAE government's initiatives to promote the country as a hub for entertainment and tourism further support the growth of the Home Entertainment market.

Underlying macroeconomic factors: The growth of the Home Entertainment market in United Arab Emirates is also influenced by several macroeconomic factors. The country's stable economy, favorable business environment, and infrastructure development contribute to the overall growth of the market. Additionally, the increasing urbanization and population growth in the UAE create a favorable market environment for home entertainment products and services. The rise of e-commerce and online retail platforms also plays a significant role in driving the market growth, as customers can easily access and purchase a wide range of home entertainment products online.

Methodology

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.