Retail current value sales of home audio and cinema declined at their fastest rate in more than a decade during 2020. Even before the onset of the pandemic, demand for home audio and cinema was being steadily cannibalised by smartphones and wireless speakers, and the economic shock of COVID-19 exacerbated this trend by leading many local consumers to reduce their discretionary spending – particularly on big-ticket items like Hi-Fi systems and audio separates.
Leader Sony of Canada Ltd will continue to increase its retail volume share in home audio and cinema during 2021. It offers a wide range of products across a variety of price points that is regularly augmented with new launches.
Home cinema and speaker systems will be the top performer in home audio and cinema during 2021, with soundbars the main driver of this. Their ability to connect with multiple devices is key to their appeal, in addition to sleek designs that enable them to blend easily into most living spaces.
Retail current value sales of home audio and cinema will continue to decline throughout the forecast period, albeit at a more modest rate than in the review period. Home cinema and speaker systems will be the only segment to exhibit retail current value sales growth, with the growing popularity of soundbars the main driver of this.
As internet-of-things technologies, such as voice control, seep through every aspect of home entertainment, consumers will increasingly expect a more polished, automated, personalised and seamless home entertainment experience. As a result, smart features like integrated voice assistants will become more common in home audio and cinema, particularly soundbars.
Despite the fact that it remains a distant second to Sony in terms of retail volume share, second-placed Samsung offers high-quality models at a more accessible price point than Sony. For example, its 2021 entry-level models include Dolby Atmos and offer advanced connectivity and personalisation.
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Understand the latest market trends and future growth opportunities for the Home Audio and Cinema industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Home Audio and Cinema research and analysis database.
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