The outlook is more positive over the forecast period. The new government has implemented some unpopular but essential economic reforms, such as foreign exchange management, and it is hoped that these reforms will restore economic stability over the forecast period and lead to higher economic growth.
Both Hi-Fi systems and speakers will register a double-digit decline in volume sales over the forecast period. This is because of the growing popularity of smartphones and wireless speakers, which will negatively affect demand for Hi-Fi systems and speakers.
Appliances and electronics specialists will remain the dominant channel in home audio and cinema over the forecast period, thanks to the desire of consumers to touch, test, see, and listen to the products before making their purchases. Items in home audio and cinema are typically big-ticket items, meaning that they are a larger investment.
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Understand the latest market trends and future growth opportunities for the Home Audio and Cinema industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Audio and Cinema industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Home Audio and Cinema
Home audio and cinema consist of Audio Separates, Home Cinema & Speaker Systems, Hi-Fi Systems and Other Home Audio & Cinema.
See All of Our DefinitionsThis report originates from Passport, our Home Audio and Cinema research and analysis database.
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