WELLESLEY, MA — The global market for home theater technologies and services will grow at a compound annual growth rate of 6.9% through 2013, a new report says.

The market, worth $1.9 billion in 2006, is expected to reach $2.1 billion this year and $2.9 billion by 2013, BCC Research said.

Home theater products, such as audio and display systems, players, media storage and management devices, and other components, generated $962.2 million in revenues in 2006 and should reach an $1.1 billion in 2008, and $1.8 billion by 2013, a CAGR of 11.7%. 

Services revenue is worth an estimated $1 billion and is growing at a CAGR of 0.8%, BCC said.

Consumers use home theater products to reproduce the movie-going experience. Although consumers largely drive the home theater market, luxury purchases are generally made using disposable or discretionary income and the psychology behind such purchases is different than the psychology driving purchases of necessities, says BCC.

 

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