Home Entertainment - United Kingdom

United Kingdom

Revenue in the Home Entertainment market is projected to reach €1.0bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.74%, resulting in a projected market volume of €1.2bn by 2029.
In the Home Entertainment market, the number of active households is expected to amount to 21.2m users by 2029.
Household penetration will be 25.3% in 2024 and is expected to hit 73.3% by 2029.
The average revenue per installed Smart Home currently is expected to amount to €133.40.

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Analyst Opinion

The Home Entertainment market in United Kingdom has been experiencing significant growth in recent years. Customer preferences have shifted towards more advanced and technologically advanced products, driving the demand for home entertainment systems.

Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market. Customer preferences in the Home Entertainment market in United Kingdom have evolved over time. Consumers are increasingly seeking immersive and high-quality entertainment experiences within the comfort of their homes.

This has led to a rise in the demand for home entertainment systems that offer advanced features such as high-definition displays, surround sound systems, and smart capabilities. Furthermore, the increasing popularity of streaming services and online content consumption has also influenced customer preferences. Consumers now expect seamless integration between their home entertainment systems and online platforms, allowing them to access a wide range of content.

The market has also witnessed several trends that have contributed to its growth. One such trend is the increasing adoption of smart home technology. Smart home entertainment systems, which can be controlled and connected to other smart devices, have gained popularity among consumers.

This trend is driven by the convenience and enhanced user experience offered by these systems. Additionally, the market has seen a rise in the demand for wireless and portable home entertainment devices. Consumers are seeking flexibility and mobility in their entertainment systems, allowing them to enjoy their favorite content anywhere in their homes.

Local special circumstances have also played a role in the development of the Home Entertainment market in United Kingdom. The country has a strong tradition of home entertainment, with a rich history of television and radio broadcasting. This cultural background has created a favorable environment for the growth of the market.

Furthermore, the presence of a large number of media and entertainment companies in the country has contributed to the availability of a wide range of home entertainment products and services. Underlying macroeconomic factors have also influenced the growth of the market. The United Kingdom has a strong economy and a high standard of living, which has enabled consumers to invest in home entertainment systems.

Additionally, the increasing disposable income of consumers has made them more willing to spend on luxury items such as high-quality home entertainment systems. Furthermore, advancements in technology and the availability of affordable products have made home entertainment systems more accessible to a larger segment of the population. In conclusion, the Home Entertainment market in United Kingdom is experiencing growth due to shifting customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

As consumers seek more advanced and immersive entertainment experiences, the market is expected to continue to expand in the coming years.

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.