The consumer migration to smartphones and wireless speakers is seriously undermining the performance of home audio and cinema. Hi-fi systems face intense competition from wireless hi-fi speakers, with a growing number of consumers switching to wireless speakers for their portability, the fact that they do not require the purchase of amplifiers, and their stylish look.
Home cinema and speaker systems was the one bright spot in home audio and cinema at the end of the review period. The category saw volumes rise for the first time in the review period in 2019 as it benefited from the growing popularity of online video streaming platforms, which has encouraged consumers to look for high visual and, increasingly, audio quality.
Television manufacturers are increasingly teaming up with home cinema and speaker systems players to cater to consumers’ growing demand for high-quality audio and video experiences. In this environment, consumers are increasingly perceiving the speaker systems embedded in TVs to be inadequate and looking for independent speaker systems.
Philips China Co Ltd remained the leading player in home audio and cinema in 2019. The company benefits from high levels of brand recognition underpinned by a broad presence in consumer appliances, from small appliances such as hair dryers and air purifiers, to major appliances, such as TVs.
International brands lead the home audio and cinema category, with Philips and Samsung perceived to be premium brands and benefiting from the reputation of Japanese products for high quality. Moreover, with premiumisation offering the primary opportunity for growth in home cinema and speaker systems, these brands are likely to gain share during the forecast period.
International brands are at the forefront of innovation in home audio and cinema, constantly looking to tailor their offers to evolving consumer demand. Samsung, for example, continues to launch new, upgraded products to take advantage of the recent trend towards soundbars.
You have no recently viewed reports.
Why not browse through our Featured or Trending Reports to see what we have to offer?
Discover the latest market trends and uncover sources of future market growth for the Home Audio and Cinema industry in China with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Home Audio and Cinema industry in China, our research will save you time and money while empowering you to make informed, profitable decisions.
The Home Audio and Cinema in China market research report includes:
Our market research reports answer questions such as:
Why buy this report?
This industry report originates from Passport, our Consumer Electronics market research database.