Over the forecast period, the overall category will return to growth and record gradually accelerating volume growth rates in each year. This will be driven by home cinema and speaker systems thanks to the growing number of different designs and sizes, especially in terms of the sound bars format.
A major reason for the overall volume decline of home audio and cinema in the review period was the rising prices of electronics products coupled with low purchasing power. As such, in addition to population growth and urbanisation, an anticipated post-pandemic economic rebound will play a role in improving the category’s growth prospects.
Chinese brands are likely to continue to grow in popularity in home audio and cinema over the course of the forecast period. These products are much more affordable to less affluent consumers than the leading brands, and they are set to gradually widen their distribution.
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Understand the latest market trends and future growth opportunities for the Home Audio and Cinema industry in Nigeria 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 Nigeria, 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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