While the overall category is declining in 2021, following positive growth in the previous year, sales volumes remain higher than before the pandemic. The category is being driven by home cinema and speaker systems, more specifically soundbars.
Samsung will retain the leadership in the overall category in 2021, as a result of a strong product portfolio in soundbars, combined with strong brand heritage in the audio and TV categories. LG ranks second, while the JBL brand has gained considerable share over the review period to achieve third place in the rankings.
The e-commerce channel continues its strong growth trajectory, which was boosted by the pandemic as consumers reverted to shopping online, from the comfort of their homes. While e-commerce grows, brick-and-mortar retail struggles, as consumers remain fearful of going out.
The home entertainment trend is expected to be a key driver of sales in the forecast period – as consumers spend more time at home than prior to the pandemic, a high-quality TV and audio experience is set to become a priority for many households. Accordingly, home cinema and speaker systems, especially soundbars, are expected to perform well in the forecast period, as these formats are preferred due to their compact nature, while becoming increasingly more advanced in terms of the depth of their sound quality.
While home audio and cinema continues to be led by Samsung and LG, JBL, a brand that has shown strong growth in recent years, is expected to continue its upward trajectory. Its dynamic performance is set to be facilitated by a strong store-based retail presence coupled with availability at key e-commerce players.
While home cinema and speaker systems are set to grow, traditional formats including Hi-Fi systems are expected to decline in the forecast period. The decline is set to be driven by the shift towards compact, modern systems such as soundbars, while modern TVs are manufactured to be paired with smart speakers that can connect via Bluetooth and/or Wi-Fi.
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Understand the latest market trends and future growth opportunities for the Home Audio and Cinema industry in South Africa 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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