A new market study, titled “Discover Global Soundbars Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Soundbars commonly known as speaker bars or media bars, are typically a special type of loudspeaker with multiple drivers. A soundbar encloses multiple speakers, placed in a cabinet and help create a surround sound with stereo effect. It largely enhances the sound quality of audio and can be connected to home theatre systems, computers, TV sets and music players etc.
Owing to its extremely superior features like stream & connect with other portable devices such as laptops, tablets, and smartphones, the soundbar market is gaining much momentum. Moreover, the increasing adoption of emerging television technologies such as 4K & 8K coupled with the reducing price of these devices is one of the major driving factors of the soundbar market growth. Technology Innovation is also likely to provide various opportunities in untapped emerging economies.
The Global Soundbars Market was evaluated at USD 2,840.5 MN in 2017 and is expected to reach USD 5709.5 MN by 2024 growing at a CAGR of 10.5% during the forecast period.
The growing popularity of trends of parties and events in sports, theatres, film industry, corporates along with the demand for soundbars in music player industry are also factors which positively fuel the growth of the soundbar market.
Key Players of Global Soundbars Market =>
Samsung Yamaha Grundig Sonos Toshiba Vizio Bose Polk Audio Pioneer Sony Definitive Technology Harman International Industries Boston Acoustics Altec Lansing/AL Infinity CSR Koninklijke Philips LG Phillips Q Acoustics
The Global Soundbars Market is segmented by Product, Application, Key Players and Region.
With respect to products, the market is split into 2.1-Channel Soundbar, 5.1-Channel Soundbar and Others.
On the basis of applications, the market is categorized into Home Entertainment and Others.
The key manufacturers dominating the market include Samsung, Yamaha, Grundig, Sonos, Toshiba, Vizio, Bose, Polk Audio, Pioneer, Sony, Definitive Technology, Harman International Industries, Boston Acoustics, Altec Lansing/AL Infinity, CSR, Koninklijke Philips, LG, Phillips and Q Acoustics
Geographically, the market spans across key regions of USA, Europe, Japan, China, India, South East Asia
The report provides a country-wise analysis of the regions the Soundbars market spans across. These include
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
North America dominates the market owing to the presence of large number of youth population, major driver for the rise in demand for soundbar market. Coupled with rising disposable income along with an increasing trend of house parties and get–togethers, it further fuels the demand in this region.
Multi-room streaming is the next big thing in the Soundbars market. The advent of connected and networked audio systems would enable reduction in expense, efforts, and time, since all audio devices are wirelessly connected with technologies such as AirPlay, Bluetooth, or Wi-Fi. Maintaining speakers in all rooms is expected to become a growing trend effectively supporting the growth of the speaker market. Increase in the number of smart homes owing to go green policies and energy saving requirements, convenience and connectivity in developed nations such as the US and the UK also fuels the market.
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