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Home Theater Market size is set to grow by USD 8.6 billion from 2024-2028, Rise in disposable income to boost the market growth, Technavio

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NEW YORK, June 26, 2024 /PRNewswire/ — The global home theater market  size is estimated to grow by USD 8.6 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 9.08%  during the forecast period.  Rise in disposable income is driving market growth, with a trend towards demand for customized home theater systems. However, cost of home theater systems  poses a challenge. Key market players include Atlantic Technology Inc., AudioQuest, Bluesound International, Bose Corp., Bowers and Wilkins, Koninklijke Philips N.V., LG Corp., Logitech International SA, Monitor Audio Ltd., NAD Electronics, Panasonic Holdings Corp., Pioneer Corp., Samsung Electronics Co. Ltd., Sennheiser Electronic GmbH and Co. KG, Sharp Corp., Sonos Inc., Sony Group Corp., The Rotel Co., Ltd., Toshiba Corp., and Yamaha Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Home theater speakers and Sound bars), Distribution Channel (Offline and Online), and Geography (APAC, North America, Europe, Middle East and Africa, and South America)

Region Covered

APAC, North America, Europe, Middle East and Africa, and South America

Key companies profiled

Atlantic Technology Inc., AudioQuest, Bluesound International, Bose Corp., Bowers and Wilkins, Koninklijke Philips N.V., LG Corp., Logitech International SA, Monitor Audio Ltd., NAD Electronics, Panasonic Holdings Corp., Pioneer Corp., Samsung Electronics Co. Ltd., Sennheiser Electronic GmbH and Co. KG, Sharp Corp., Sonos Inc., Sony Group Corp., The Rotel Co., Ltd., Toshiba Corp., and Yamaha Corp.

Key Market Trends Fueling Growth

The customized home theater market is experiencing significant growth due to increasing consumer preferences for tailored systems. Few companies currently provide this service at a premium, making it inaccessible for the middle-income segment. Builders do not typically include customized home theaters in their projects due to insufficient return on investment. However, some businesses offer packages in three categories: room size, performance, and design, catering to each customer’s unique preferences. This trend is anticipated to boost the expansion of the global home theater market. 

The home theater market is currently experiencing significant growth, with components such as movies, TVs, sound systems, and streaming services playing key roles. Smart homes and voice control technology are trending, allowing users to easily control their home theaters with simple voice commands. Devices like TVs and sound systems are becoming more advanced, offering features like 4K resolution, HDR, and Dolby Atmos for enhanced viewing and listening experiences. Components like projectors and screens are also gaining popularity, providing larger-than-life visuals for movie nights at home. Overall, the home theater market is thriving, offering consumers a wide range of options to create their ideal home entertainment setup. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The global home theater market may face obstacles in expansion due to the high cost of setting up a home theater system. The expense of constructing a dedicated room and purchasing equipment, which can range from USD50 to USD250 per square foot and nearly USD7,500 for equipment, may deter potential buyers. Affordable stand-alone speaker systems present competition, making it essential for market growth. The following price listings are for audio components in 2022-2023: Sony MHC-V83D Bluetooth Tower Speaker (USD835), Home Theater Subwoofer (USD3,101), 14LG Corp. 1.2 ch High-Res Audio Soundbar with Dolby Atmos (USD1,173), and LG GX 3.1 ch High-Res Audio Soundbar with Dolby Atmos (USD999.99). These costs could limit the market’s reach, particularly among the middle class.The home theater market faces several challenges in delivering superior sound and visual experiences. Devices such as soundbars, subwoofers, and projectors require precise calibration and synchronization to create an immersive environment. Connection technologies like HDMI and Wi-Fi must be reliable and compatible with various devices. Consumers demand easy-to-use interfaces and seamless integration with streaming services and smart home systems. Cost and size constraints also impact the market, as high-end systems can be expensive and bulky. Competition from other entertainment sources like gaming consoles and mobile devices further intensifies the competition. Brands must address these challenges to provide innovative and user-friendly home theater solutions.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This home theater market report extensively covers market segmentation by

Product 1.1 Home theater speakers1.2 Sound barsDistribution Channel2.1 Offline2.2 OnlineGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Home theater speakers-  The home theater market faces challenges due to the high cost and limited preference for large audio systems. However, demand remains strong for high-end systems offering superior surround sound and theater-like experiences. Vendors provide various channel formats, such as 5.1 and 7.1, with Samsung offering the HT-J5500W 5.1 system. The market growth is sluggish, primarily driven by high-income regions. Innovations in design and functionality, like Sony’s HT-A9 and HT-A7000 soundbars with 360 SSM technology, are key growth factors. Vendors also bundle products to boost sales.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The home theater market encompasses a range of devices designed to enhance the entertainment experience within residential spaces. These include home theater in a box (HTIB) systems, soundbars, Blu-ray high-definition players, projectors, and television sets. Smart home integration is a significant trend, with Wi-Fi and Bluetooth connectivity enabling seamless control and access to cloud services and over-the-top (OTT) platforms like Netflix and Disney Plus. Surround sound systems, featuring speakers and sub-woofers, provide an immersive audio experience. Lamp-less technology, such as laser projectors from Seiko Epson Corporation, offers energy efficiency and long-lasting performance. Home entertainment systems continue to evolve, offering consumers superior quality and convenience. Transcosmos plays a role in providing logistics and sales support for these products.

Market Research Overview

The Home Theater market encompasses a range of devices and technologies designed to deliver an immersive cinematic experience at home. These include sound systems with surround sound capabilities, projectors, and smart TVs with high resolution displays. The market is driven by the increasing demand for enhanced home entertainment, particularly in light of the ongoing pandemic. Consumers seek devices that offer superior audio and video quality, easy connectivity, and compatibility with various streaming platforms. Additionally, the integration of artificial intelligence and voice control technology is becoming increasingly popular, allowing users to control their home theaters with simple voice commands. The market is expected to grow significantly in the coming years, as more and more people invest in creating their personal cinemas at home.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductHome Theater SpeakersSound BarsDistribution ChannelOfflineOnlineGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Rad Power Bikes Expands Its Omnichannel Retail Experience to Include BestBuy.com and Select Best Buy Stores

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Additional physical and digital channels provide Rad Power Bikes customers more ways to interact with the brand and access Rad’s latest ebike models.

SEATTLE, Sept. 25, 2024 /PRNewswire/ — Rad Power Bikes™ today announced its teaming up with Best Buy to increase the brand’s retail presence to include 150 Best Buy stores nationwide and BestBuy.com. After several product launches, this availability enhances the seamless integration of Rad’s retail channels, enriching the customer journey from online to in-store. This expansion of Rad’s omnichannel experience underscores the company’s dedication to creating a world where transportation is not only energy-efficient and accessible but also enjoyable for everyone, no matter where they shop or how they engage with the brand.

Rad Power Bikes Expands Its Omnichannel Retail Experience to Include BestBuy.com and Select Best Buy Stores

As Rad continues to redefine sustainable transportation, the expansion to Best Buy will provide more customers with direct access to Rad’s industry-leading products in physical retail locations and online. Starting today, customers can purchase some of our rider’s favorite Rad products and accessories at BestBuy.com, and next month in 150 Best Buy stores nationwide.

“Rad Power Bikes is strategically positioning itself for sustained growth by focusing on safety, reliability, and customer accessibility,” said Phil Molyneux, CEO of Rad Power Bikes. “Our commitment to strengthening our product offerings and broadening our retail experiences for customers ensures more people can experience the benefits of ebikes. As we continue to innovate and grow beyond our direct-to-consumer roots, we remain dedicated to maintaining the highest standards of safety, quality, and customer satisfaction, which have been key in building our strong reputation with customers and retailers large and small.”

Rad is also expanding its retail partner program and is pleased to announce the appointment of industry veteran George Lee as Director of Sales. This key addition will further strengthen and grow the company’s retail partnerships, enhancing the overall customer experience and accelerating growth.

Rad Power Bikes is also planning exciting Black Friday deals on its versatile ebikes to offer even more customers the opportunity to experience the freedom and convenience of Rad Power Bikes at a great value.

Rad Power Bikes offers test rides and in-store support at its RadRetail locations, ensuring that customers can find the right ebike for their needs, whether commuting, adventuring, delivery, or hauling kids. For more information on how Rad Power Bikes is making ebikes more accessible, and to locate a store near you, visit here.

About Rad Power Bikes
Rad Power Bikes boasts a full lineup of affordable ebikes and accessories that are changing the way people and products ride for good. Founded in 2007, Rad’s team of passionate ebike enthusiasts creates products and service solutions that are purpose-built for everything, whether for commuting, adventuring, delivery, or hauling kids. The ebikes and accessories are all designed in-house at its Seattle headquarters. The company serves riders across the U.S. and Canada, and has nine RadRetail locations, and more than 1,200 retail and service partners across North America.Recognized by TIME, Fast Company, and Inc. as one of the most innovative and influential companies, Rad Power Bikes is on a mission to build a world where transportation is energy-efficient, enjoyable, and accessible to all.

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SOURCE Rad Power Bikes

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Admitad’s new generation promo code solution boosts conversion for affiliates by 40%

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DUBAI, UAE, Sept. 25, 2024 /PRNewswire/ — Admitad, a global leader in partner marketing, launches New Generation Promo codes — a turnkey solution that offers a hassle-free way to attribute sales directly to affiliates through promo codes. Publishers receive full credit for every sale generated, regardless of how or where the transaction occurs. Brands enjoy increased tracking transparency and accuracy, wider reach and boosted sales. The loyalty of publishers to advertisers is also growing due to increased profits at the same traffic volumes.

By assigning a dedicated code to each affiliate, the solution ensures personalised promotions that increase the relevance and impact of marketing campaigns, while for publishers it guarantees no risk of promo code theft or cookie stuffing. Through access to a broader network, including social media influencers and content creators, businesses can expand their reach, diversify traffic sources, and unlock new audience segments.

Solution embraces the CPS model, guaranteeing that businesses only pay for completed sales. This makes marketing spend more predictable, enabling companies to optimise their ROI. Promo codes are automatically withdrawn from publishers failing to generate sales within a specified timeline and are then reallocated to those who consistently deliver results.

Promo code tracking also solves the problem of cross-device order attribution, including tracking on mobile devices and within mobile applications. Admitad’s solution is able to bypass other tracking obstacles as well. It works seamlessly even if ad blockers, privacy settings and other extensions interfere with traditional cookie tracking.

Affiliates using New Generation Promo codes alongside their affiliate links have experienced a significant spike in conversions. Admitad compared the number of actions and growth rate of partners who previously worked only with affiliate links. Calculations showed consistent 30-40% growth in the number of actions and sales after just 3 months of promo code usage.

More conversions translate directly into increased commissions and revenue growth. By offering discounts or special offers, they incentivize consumers to make purchases that might not have otherwise been considered. It also offers publishers a powerful tool to foster deeper customer engagement.

Publishers and brands can access New Generation Promo codes through the Promo code Catalog in the Admitad Store. These codes are recommended to be used alongside the affiliate links, offering a powerful combination that ensures the best possible tracking and maximizes the conversion potential.

Logo – https://mma.prnewswire.com/media/2433196/4750415/Admitad_Logo.jpg

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SOURCE Admitad

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Swan Bitcoin Has Achieved SOC2 Type 1 Compliance

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The independent audit and certification affirms that Swan’s platform, infrastructure, tools, and processes meet industry best practices to protect sensitive client information. 

CALABASAS, Calif., Sept. 25, 2024 /PRNewswire/ — Swan Bitcoin is proud to announce that it has successfully achieved SOC 2 Type 1 compliance, marking a significant milestone in its dedication to ensuring the highest standards of security, availability, and confidentiality for its customers. This certification, awarded by Schellman, a high-ranking IT compliance attestation firm, details the suitability of design and operating effectiveness of controls relevant to security, availability, and confidentiality to protect sensitive data.

“Every day, we handle mission-critical information,” said Yan Pritzker, Swan CTO. “This requires Swan to implement thorough security and risk controls across our whole domain, including network security, systems availability, and data confidentiality. With a SOC2-compliant environment, we are assuring our customers and partners that we can meet their stringent compliance requirements.”

SOC 2 reports are performed in accordance with the Statement on Standards for Attestation Engagements 18 (SSAE 18) attestation standard issued by the American Institute of Certified Public Accountants (AICPA). Achieving SOC 2 Type 1 certification demonstrates that Swan meets industry best practices to assure clients that their data is being handled with the utmost care and protection.

“At Swan, security is a top priority,” said Scott Kisser, Swan CISO. “Achieving SOC 2 compliance underscores our commitment to building trust by adhering to industry-leading security practices. This independent verification is another step in our continued journey to provide the most secure and trusted Bitcoin platform for our clients.”

SOC 2 compliance brings critical benefits such as reduced risk, enhanced client trust, and the confidence that Swan Bitcoin is continuously improving its security posture. The completion of Swan’s SOC 2 Type 1 report is the result of an independent audit conducted to ensure the proper design and effectiveness of a variety of controls. For more information, please visit trust.swanbitcoin.com.

About Swan

Swan is a leading Bitcoin financial services company with more than 130,000 clients. Established in 2019, Swan helps individuals and institutions to understand and invest in Bitcoin. The Swan app simplifies Bitcoin purchases with instant and recurring buys. Swan IRA provides a tax-advantaged solution for saving Bitcoin in retirement accounts. For HNWIs and businesses, Swan Private provides white-glove service for large purchases, treasury solutions, and inheritance planning. With Swan Vault, clients can easily custody their own Bitcoin with peace of mind. Swan Managed Mining provides clients with fully segregated and dedicated mining operations, catering to their unique requirements, opportunities, and strategic advantages. Swan prides itself on exceptional client service, making Bitcoin approachable to all. For more information, please visit swan.com.

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SOURCE Swan Bitcoin

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