Retail current value sales of home audio and video expanded for the first time in a decade during 2020. With consumers spending much more time at home due to restrictions on movement and many alternative forms of entertainment (most notably cinemas) closed for an extended period, demand for home cinema and speaker systems was particularly strong.
Sony France SA will remain the leading player in home audio and cinema in retail volume terms during 2021, followed by Bose Corp and Philips France SAS. However, the competitive landscape is fairly fragmented, with five players – Sony, Bose, Philips, Samsung Electronics France and Yamaha Music Europe GmbH – having retail volumes share between 10% and 15%.
Electronics and appliance specialist retailers are the largest distribution channel for home audio and cinema, but e-commerce grew in importance throughout the review period. This process was accelerated by the pandemic, which led to the closure of all non-essential retail outlets for an extended period of time during spring 2020.
Retail current value sales of home audio and cinema will decline at an accelerating pace over the course of the forecast period. The primary reason for the category’s poor prospects remains the growing use of alternative devices and technologies like smartphones, wireless speakers and digital media streaming.
Demand for home cinema and speaker systems will prove to be fairly resilient during the forecast period, with no more than a relatively modest decline in retail current value sales anticipated. This will mainly be due to the growing willingness of many local consumers to pay for a superior audio experience while watching television.
Despite the steady growth of e-commerce, electronics and appliance specialist retailers are set to remain the largest distribution channel for home audio and cinema throughout the forecast period. Many local consumers like to browse for home audio and cinema products in person prior to making a purchase.
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Understand the latest market trends and future growth opportunities for the Home Audio and Cinema industry in France with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Home Audio and Cinema research and analysis database.
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