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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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OceanBase Receives Honorable Mention for the Second Consecutive Year in the 2024 Gartner® Magic Quadrant™ Report

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SINGAPORE, Dec. 26, 2024 /PRNewswire/ — OceanBase has once again been named as Honorable Mention in the 2024 Gartner® Magic Quadrant™ for Cloud Database Management Systems (Cloud DBMS), marking the second consecutive year it has received this recognition.

OceanBase offers scalable distributed database for data-intensive transactional and real-time operational analytics workloads, with ultra-fast performance and high compatibility across major global cloud infrastructures, including Amazon Web Services, Google Cloud, Alibaba Cloud and Tencent Cloud. Operating across more than 30 regions in Asia, Europe, and America, OceanBase has already served over 2,000 customers, such as SAIC Volkswagen, DiDi Global, vivo, Pop Mart, Haidilao, Kwai, Trip.com, GCash, DANA, and PalmPay.

Over the past year, OceanBase has made significant strides in the Southeast Asian market. In December 2024, Starpay, a leading financial technology company in the Philippines, announced a partnership with OceanBase to leverage its cutting-edge distributed database solutions.

OceanBase hosted the inaugural OceanBase INFINITY tech conference in Jakarta, Indonesia in June 2024. During the event, the company announced strategic partnerships with leading local resellers to better serve customers in the Indonesian market.

According to Gartner’s latest DBMS market data in the Magic Quadrant, “the overall database management system market grew by 13.4% in 2023, reaching $103.2 billion“, up from $91 billion in 2022. The DBMS segment remains one of the fastest-growing areas within the software market, alongside analytic platforms, networking software, and supply chain management software.

In May 2024, OceanBase was also recognized as an Asia/Pacific Customers’ Choice and also named a Strong Performer in the 2024 Gartner® Peer Insights™ Voice of the Customer for Cloud DBMS report.

Gartner, Magic Quadrant for Cloud Database Management Systems, 18 December 2024

Gartner, Voice of the Customer for Cloud Database Management Systems, 24 May 2024

Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.

GARTNER, MGAGIC QUADRANT and PEER INSIGHTS are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

About OceanBase

OceanBase is a distributed database launched in 2010. It provides strong data consistency, high availability, high performance, cost efficiency, elastic scalability, and compatibility with mainstream relational databases. It handles transactional, analytical, and AI workloads through a unified data engine, enabling mission-critical applications and real-time analytics.

To learn more, please visit: https://www.oceanbase.com/

View original content:https://www.prnewswire.com/apac/news-releases/oceanbase-receives-honorable-mention-for-the-second-consecutive-year-in-the-2024-gartner-magic-quadrant-report-302339146.html

SOURCE OceanBase

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Matwings Technology Raised Series A Funding of Tens of Millions USD to Redefine Protein Design

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‘Beyond Structure, Predicting Function’

SHANGHAI, Dec. 25, 2024 /PRNewswire/ — Recently, Shanghai Matwings Technology Co., Ltd. (‘Matwings’), a global leader in AI-driven protein design, announced the successful completion of Series A funding rounds, raising tens of millions of USD, led by Qiming Venture Partners.

Matwings is pioneering a new frontier in protein engineering with its proprietary AI-based general protein design platform, AccelProtein™, which directly predicts protein functionality beyond the structural data. By predicting functionality, AccelProtein™ offers a new approach for acquiring high-functioning proteins.

AccelProtein™ is built on the Pro-PRIME model, a breakthrough developed by a collaborative team led by Professor Liang Hong at Shanghai Jiao Tong University. After years of research focused on data collection, curation, and optimization, the team developed the Pro-series – an AI framework for protein design. Their work, titled “A General Temperature-Guided Language Model to Design Proteins of Enhanced Stability and Activity” was recently published in Science Advances.

A featured case of AccelProtein™’s impact is the design of a specialized Glycosyltransferase enzyme, which is used in the production of EPS-G7, a core material for pancreatitis screening. Within just 4 months, Matwings increased the enzyme’s total glycosylation activity by 7 times, enhanced product specificity from 60% to 98%, and reduced hydrolytic activity by 33%. These improvements cut down the cost of EPS-G7 by 90%.

In another application, Matwings successfully engineered a super alkali-resistant affinity ligand (a nanobody) for affinity chromatography, improving alkali resistance by 3 folds, binding capacity over 100%, and heat stability by 8℃. This innovation saved millions of USD in CMC costs for a Matwings client. Additionally, scale-up production to 5000L has been successfully completed. Such advancement enables low-cost affinity chromatography purification a viable option for a wide range of biologics, bringing more cost-effective solutions for drug production.

Since 2021, Matwings has successfully delivered over 30 protein-engineering and enzyme-mining projects either proprietary (e.g., Enterokinase, Carboxypeptidase B, KEX2 Protease, Maltogenic Amylase, Subtilisin, Protein A, PETase, T7 RNA Polymerase, and phi29 DNA Polymerase) and co-developed with our stakeholders. These projects span across various applications, including drug innovation, in vitro diagnostics, nutrition and healthcare, food and beverage, and green energy.

About Matwings

Matwings, founded in 2021 by an elite team from Shanghai Jiao Tong University, is one of the earliest companies to focus on AI protein models.

Matwings is dedicated to moving beyond directed evolution methods to design and engineer functionally optimized proteins by leveraging a proprietary, pre-trained, AI-based general protein design platform with 780 million curated full-length protein sequence data, including nearly 500 million private data.

This cutting-edge technology platform, AccelProtein™, enables us to engineer proteins and uncover or de novo design novel proteins with significantly improved properties, including stability, activity, affinity, yield, etc.

To date, Matwings has successfully engineered more than 30 proteins either proprietary or co-developed with its stakeholders, and more than 40 ongoing projects across various applications in pharmaceutical industries and synthetic biology industries, e.g.  key enzymes and proteins for CMC, innovative Biologics, synthetic biology and more.

Matwings is actively seeking global partnerships to jointly develop and commercialize new products.

Contact Information:
Email: info@matwings.com
Website: https://www.matwings.com/en/ 
Tel: +86 158 2106 5410
Paper Link: https://www.science.org/doi/10.1126/sciadv.adr2641 

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SOURCE Matwings Technology

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Agoda Highlights Tokyo as Top Global New Year’s Eve Destination

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SINGAPORE, Dec. 26, 2024 /PRNewswire/ — Digital travel platform Agoda has announced Tokyo as the most popular destination for New Year’s Eve, based on accommodation searches. This marks a shift from last year when Taipei held the top spot. Following Tokyo, the list includes Bangkok, Taipei, Pattaya, and Osaka, showcasing a diverse range of preferences among travelers.

The data highlights a perpetual interest in Tokyo, a city known for its unique blend of tradition and modernity. Travelers are drawn to its vibrant celebrations, cultural experiences, and iconic landmarks. Bangkok and Taipei, too, continue to be favored destinations, offering rich cultural festivities and lively atmospheres. Pattaya and Osaka also make the list, appealing to those seeking beachside celebrations and culinary delights, respectively.

Agoda’s data reveals Tokyo’s prominence not only on a worldwide scale but also within Japan. Domestic accommodation searches have increased by 23%, with Tokyo leading as the preferred destination, followed by Osaka, Kyoto, Yokohama, and Okinawa Main Island. For Japanese traveling abroad, the destinations primarily considered are Taipei, Seoul, Bangkok, Pattaya, and Hong Kong.

Hiroto Ooka, Associate Vice President North Asia at Agoda said: “Tokyo’s rise to the top of Agoda’s New Year’s Eve destination list is a testament to the city’s global appeal. Whether you’re celebrating New Year’s Eve in Tokyo, Osaka, or anywhere else in the world, Agoda is ready to help you find the perfect spot to ring in the New Year.”

As travelers prepare for their New Year’s Eve plans, Agoda offers a comprehensive selection of over 4.5 million holiday properties, more than 130,000 flight routes, and over 300,000 activities, all available for seamless booking. Download the Agoda app for the latest deals or visit agoda.com/deals.

 

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SOURCE Agoda

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