Global Soundbar Market Size study by Type, by Installation Method, by Connectivity, by Application and Regional Forecasts 2020-2027
発行: Bizwit Research & Consulting LLP
Global Soundbar Market Size study by Type (Wall-Mounted, Table-Top, Others), by Installation Method (Active Soundbars, Passive Soundbars, Others), by Connectivity (Wi-Fi, Bluetooth, Others), by Application (Home Audio, Commercial, Others) and Regional Forecasts 2020-2027.
Global Soundbar Market is valued approximately at USD 5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.5% over the forecast period 2020-2027. A soundbar (also known as media bar) is defined as the slim unit, with a number of built-in speakers jacketed simultaneously in a particular enclosure. A soundbar comprises of a special loudspeaker that generates sound from the cabinet. It was primarily intended to enhance the sound quality of the audio tracks deprived of loads of wires. To alter its functionality, several manufacturers are designing its hybrid versions, where the functions of soundbar and stereo systems are combined in a single device. Such soundbar embodies left, center, and right speakers, as well as subwoofers, and rare-left and rear-right speakers. Now a days, it is getting immense popularity among individuals, due to its extremely superior attributes such as stream & connect with other portable devices like smartphones, tablets and laptops. Increasing demand for wireless streaming of audio content, rising adoption of smart devices, such as laptops & smartphones, and the introduction of newer and innovative 4K and 8K television technologies are the few factors responsible for high CAGR of the market over the forecast period. Furthermore, increase in number of advanced product launches by the market players is further contemplating the market growth over the forecast period. For instance, in January 2019, Sony Corporation has announced "360 Reality Audio" a new music capability that engages listeners in a three-dimensional sound-field powered by object-based spatial audio technology. Similarly, in October 2018, Bose Corporation has announced the launch of Home Speaker 500, Soundbar 500, 700 in India. Through this product launch, the company aims to expand its operations in India in order to generate high revenue during the fiscal year. This, in turn, is expected to accelerate the growth of soundbar market around the world. Amidst the COVID-19 crisis, the industry is presently faced significant challenges associated to ramping up manufacturing capacities, as the China is the major supplier of raw material of soundbar. Though, several countries are under lockdown as per the government order, they are not getting raw materials and even not having permission to produce, thus hampering the market growth. In addition, availability of low-priced speakers in stand-alone speakers and high cost of soundbars are some other factor limiting the market growth over the forecast period of 2020-2027.
The regional analysis of global Soundbar market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing adoption of smartphone, rising disposable income and rising trend of house parties and get-together in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to the growing media consumption and presence of significant number of local industry players, especially in China and India.
Major market player included in this report are:
Harman International Industries
Sennheiser electronic GmbH & Co. KG
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Installation Method:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2016, 2017, 2018
Base year - 2019
Forecast period - 2020 to 2026
Target Audience of the Global Soundbar Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers