Executive Summary

Aug 2019
PROSPECTS
Decreasing cost of soundbars benefits home cinema and speaker systems

As the trend for narrow televisions continues to increase in Hong Kong due to their sleek designs, the quality of sound tends to drop. Therefore, using a soundbar as a complimentary sound system is becoming increasingly common in Hong Kong, positioned as providing virtual surround sound and requiring only minimal space, and fitting well into the small size of many local apartments.

Wireless speakers replace need for large audio separates, and digital media player docks

Wireless speakers such as Bluetooth are replacing the need to purchase audio separates and hi-fi systems. This technology offers the listener higher quality in addition to a smaller footprint within the home and its lower cost compared to a higher initial investment in an entire audio system, while the latter can take up significant room in the average Hong Kong apartment.

Consumers appreciate first-hand audio experience offered by store-based retailers

Electronics and appliance specialists continued to be the dominant distribution channel for home audio and cinema in Hong Kong in 2019. Although internet retailing continued to record some gain in retail volume share for this category, local consumers appreciate being able to visit a physical shop to experience the sound quality of home audio and cinema products before committing to such a large purchase.

COMPETITIVE LANDSCAPE
Sony strengthens leadership maintaining quality and brand loyalty

Sony retained its overall lead of home audio and cinema in Hong Kong in 2019, gaining further retail volume share as other well-known brands such as Panasonic continued to lose ground. The brand offers a wide range of products within home audio spectrum, ranging from 2.

LG benefits from reputation in home video

LG also gained further retail volume share within home audio and cinema in 2019, ranking second behind Sony and distancing itself from third-placed Philips, with the latter recording stronger sales decline. LG has the advantage of greater familiarity amongst local consumers for its televisions and therefore benefits from strong brand loyalty.

Smaller brands under “others” gain share to record strongest growth performance

While leading brands such as Sony, LG and Philips enjoy a strong presence in leading distribution channel electronics and appliance specialist retailers in Hong Kong, there is also room for audio products from a limited number of smaller brands such as Marantz, Cambridge Audio and Denon under “others”, with the latter continuing to gaining retail volume share in addition to recording positive volume sales growth. Brands such as these offer accessible entry-level audio separates and speakers, and a lower-cost alternative to long-standing leading brands.

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Home Audio and Cinema in Hong Kong, China

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Overview

Discover the latest market trends and uncover sources of future market growth for the Home Audio and Cinema industry in Hong Kong, 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 Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Home Audio and Cinema in Hong Kong, China market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Home Audio and Cinema in Hong Kong, China?
  • What are the major brands in Hong Kong, China?
  • What is the growth rate for Home Cinema and Speaker Systems?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Consumer Electronics market research database.

Home Audio and Cinema in Hong Kong, China - Category analysis

HEADLINES

PROSPECTS

Decreasing cost of soundbars benefits home cinema and speaker systems
Wireless speakers replace need for large audio separates, and digital media player docks
Consumers appreciate first-hand audio experience offered by store-based retailers

COMPETITIVE LANDSCAPE

Sony strengthens leadership maintaining quality and brand loyalty
LG benefits from reputation in home video
Smaller brands under “others” gain share to record strongest growth performance

CATEGORY DATA

Table 1 Sales of Home Audio and Cinema by Category: Volume 2014-2019
Table 2 Sales of Home Audio and Cinema by Category: Value 2014-2019
Table 3 Sales of Home Audio and Cinema by Category: % Volume Growth 2014-2019
Table 4 Sales of Home Audio and Cinema by Category: % Value Growth 2014-2019
Table 5 NBO Company Shares of Home Audio and Cinema: % Volume 2015-2019
Table 6 LBN Brand Shares of Home Audio and Cinema: % Volume 2016-2019
Table 7 Distribution of Home Audio and Cinema by Channel: % Volume 2014-2019
Table 8 Forecast Sales of Home Audio and Cinema by Category: Volume 2019-2024
Table 9 Forecast Sales of Home Audio and Cinema by Category: Value 2019-2024
Table 10 Forecast Sales of Home Audio and Cinema by Category: % Volume Growth 2019-2024
Table 11 Forecast Sales of Home Audio and Cinema by Category: % Value Growth 2019-2024

Consumer Electronics in Hong Kong, China - Industry Overview

EXECUTIVE SUMMARY

Further decline for many consumer electronics due to saturation and longer replacement cycles
Further polarisation amongst price tiers with mid-priced segment losing out
Samsung continues to pressurise leader Apple while Huawei’s success is short-lived
Larger chains of electronics and appliance specialist retailers note rising demand for high-end premium devices
Forecast period to see further decline with positive performances for devices that offer greater functionality

MARKET DATA

Table 12 Sales of Consumer Electronics by Category: Volume 2014-2019
Table 13 Sales of Consumer Electronics by Category: Value 2014-2019
Table 14 Sales of Consumer Electronics by Category: % Volume Growth 2014-2019
Table 15 Sales of Consumer Electronics by Category: % Value Growth 2014-2019
Table 16 NBO Company Shares of Consumer Electronics: % Volume 2015-2019
Table 17 LBN Brand Shares of Consumer Electronics: % Volume 2016-2019
Table 18 Distribution of Consumer Electronics by Channel: % Volume 2014-2019
Table 19 Forecast Sales of Consumer Electronics by Category: Volume 2019-2024
Table 20 Forecast Sales of Consumer Electronics by Category: Value 2019-2024
Table 21 Forecast Sales of Consumer Electronics by Category: % Volume Growth 2019-2024
Table 22 Forecast Sales of Consumer Electronics by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources