Volume sales of home audio and cinema have been declining since 2017, with a return to positive growth unlikely in 2021 or even in the forecast period, as mainstream consumers have typically migrated to substitute products in recent years. A downwards trend is expected to be seen across all home audio and cinema categories in 2021.
Despite the fact that German consumers have spent more time at home during the COVID-19 pandemic, purchases of big-ticket items have tended to be postponed or dropped entirely, with just a few exceptions, and products such as hi-fi systems and home cinema and speaker systems are not amongst these. Mainstream German consumers have instead been opting for more flexible and lower-priced portable devices, especially since the quality of these portable devices continues steadily improving.
Sony Europe, Pioneer & Onkyo Europe and TPV Technology are expected to remain the leaders in home audio and video in 2021, and also maintain or extend their retail volume shares. This is due to their high quality standards, which are appreciated by German consumers.
In the coming years, German consumers are expected to increasingly move from individual products or product groups to products that work together, add something to their daily life and suit their lifestyle. This trend fits well with the smart home concept and connectivity, and thus will also affect the performance of home audio and cinema in the coming years.
While in the coming years the average German consumer is expected to be even less sensitive with regard to sound quality, home audio and cinema players will keep targeting the small number of music aficionados in Germany. This will make the category even more of a niche by definition, targeting a small number of consumers with high prices and outstanding quality.
As in many other categories, in home audio and cinema in Germany the pandemic has encouraged more consumers to become familiar with e-commerce, after formerly being reluctant to use this channel. German consumers are indeed becoming increasingly comfortable with online purchases, for example purchasing speakers online instead of going to an electronics and appliance specialist retailer.
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Understand the latest market trends and future growth opportunities for the Home Audio and Cinema industry in Germany 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.
If you're in the Home Audio and Cinema industry in Germany, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Home Audio and Cinema
Home audio and cinema consist of Audio Separates, Home Cinema & Speaker Systems, Hi-Fi Systems and Other Home Audio & Cinema.See All of Our Definitions
This report originates from Passport, our Home Audio and Cinema research and analysis database.
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