Home Entertainment - Papua New Guinea

Papua New Guinea

The projected revenue in the Home Entertainment market in Papua New Guinea is expected to reach US$1.4m in 2024.
This revenue is anticipated to grow at an annual rate of 11.07% (CAGR 2024-2028), resulting in a projected market volume of US$2.1m by 2028.
Furthermore, it is estimated that the number of active households in the Home Entertainment market will amount to 59.4k users by 2028.
The household penetration rate, which currently stands at 1.6%, is expected to increase to 2.7% by 2028.
At present, the average revenue per installed Smart_Home is projected to be US$42.64.
When compared globally, it is worth noting that 0 generates the highest revenue in the Home Entertainment market, amounting to 0 in 2024.
Papua New Guinea is experiencing a surge in demand for home entertainment systems, driven by a growing middle class and increased access to technology.

Key regions: United States, Australia, United Kingdom, Germany, South Korea

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Analyst Opinion

Products in the Home Entertainment segment are multi-room music devices, remote controls dedicated to entertainment use cases and streaming devices. By definition we exclude smart TVs, since only a small share of their revenue is related to their ability to connect to the internet. The competitors for multi-room music devices in the market are both traditional companies with a focus on audio devices such as Bose, Sony or Panasonic, as well as young companies such as Sonos or Klipsch. The smart speaker trend already took a considerable share of the Entertainment segment. Companies have to adopt and integrate smart assistants. Also streaming devices could see potential losses in the future when more and more smart TVs will integrate similar features.

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 segment. 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 digital products and services 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 twice a year in case market dynamics change.