Originally featured on BroadcastEngineering.com
Installed home theater market to reach $11 billion by 2012, Parks Associates says
Installed home theaters and multiroom audio systems will open up to consumers at low to medium income levels because of growing adoption of networking technologies, finds a new report from Parks Associates.
The report, “High-end Entertainment Systems: Analysis and Forecasts,” forecasts total U.S. revenues for installed home theaters and multiroom audio systems will grow from $6 billion in 2007 to more than $11 billion by 2012.
Parks also projects the number of new installations to grow 67 percent over the same period, from 166,000 per year in 2007 to 277,000 by 2012.
Despite the current subprime mortgage crisis and a slowing U.S. housing market, the surge in wireless technology will power high-end home theater sales, specifically for the wealthy, toward additional growth for the next half of a decade, says the research organization.
For more information, visit www.parksassociates.com.