Soundbar Market to Make Great Impact in Near Future by 2022-2030

Description
The global soundbar market size was valued at USD 5,094.4 million in 2020 to USD 9,076.2 million by 2027, at a CAGR of 8.6% from 2021 to 2027. Soundbars are gaining momentum due to the rapid shift in consumer preference for portable yet high-performance audio devices. The audio and voice user interface technologies have evolved significantly to offer a wide range of platforms providing high levels of integration, immersive sound quality, wireless connectivity, and on-device AI for smart devices.

As the support for technologies, such as Dolby Atmos, are expanding into mobile devices, such as smartphones and tablets, the number of compatible devices for wired and wireless soundbars is growing rapidly. These developments are increasing the inclination of consumers toward adopting better and enhanced home entertainment devices. The Dolby Atmos soundbar has revolutionized cinema sound and reinvigorated home entertainment. The concept behind the Dolby Atmos technology is object-based audio, which represents sound as objects in space that can be located and can move anywhere within the space above and around the listener. The soundbar integrated with Dolby Atmos technology provides an immersive audio experience to the consumer, greatly enhancing the viewing experience of rich media content.

Request Sample Copy of this Report: https://www.marketstatsville.com/request-sample/soundbar-market

Various market players are making significant product innovations and developments by integrating multiple technological developments in the market with the existing products or by adding new products to the portfolio. In May 2019, Vizio Inc. introduced its 2019 audio collection with the launch of the VIZIO 36″ 5.1.4 and 36″ 3.1.2 Premium Home Theater Sound Systems with Dolby Atmos. Soundbars outsell traditional home theater receivers, speakers, and subwoofer packages by a large margin. They are compact, simple to set up, and affordable, and their audio quality is often much better than a TV's standard built-in speakers. Significant developments in the consumer electronics industry are making televisions thinner. However, the quality of speakers has seen a downfall. Therefore, the adoption of soundbars is expected to be a suitable choice for TVs, as they offer better sound quality compared to the inbuilt sound quality provided by the TVs.

Global Soundbar Market Dynamics
Drivers: Increasing Demand for Wireless Streaming of Audio Content
The primary reason behind the increasing adoption of soundbars is their ability to stream audio content wirelessly and enhance the overall sound experience. Moreover, the integration of voice assistants, such as Google and Amazon, is also driving customer experience, thereby driving the market. Moreover, the increasing number of smart homes equipped with connected communication devices is also boosting the market for home theatre systems, resulting in the growth of the soundbar market.

The sophistication of wireless communication technologies and the incorporation of advanced technologies have been boosting the growth of audio systems across the entertainment electronics industry across the globe. With new capabilities across home entertainment systems, multiple new launches have led to a competitive environment in multiple regions. For instance, in September 2019, at IFA 2019, TCL launched its RAY?DANZ Sound Bar, a 3.1 -channel Dolby Atmos-based soundbar and wireless subwoofer sound system that offer a full home audio experience for European customers.

Restraints: Availability of Low-Priced Stand-Alone Speakers
The audio systems market is highly competitive due to multiple vendors offering budget speaker systems that are comparatively lower-priced than the soundbars. These speakers are top-rated in emerging economies where a significant share of the population has budget constraints and cannot afford a soundbar system. The sound reproduction quality for home media consumption is continuing to benefit from the innovations that are taking place in the market. The market trend is toward more compact, wireless systems that are increasingly affordable for the average audiophile and home theatre enthusiasts. The vendors in the market have now been offering various functionalities in the affordable segment, such as wireless connectivity, to gain market share and improve sales. Probably the most significant development in the market continues to be the democratization of the home theatre system that has been brought on by affordable, large-screen, hi-def television sets. As TVs are becoming more affordable, an average user does not want to spend much on an audio system, encouraging them to buy an average and affordable speaker system.

Scope of the Report
The study categorizes the global soundbar market based on equipment type, technology, type, installation method, distribution channel, application, and regions.

By Equipment Type Outlook (Volume Units, Revenue, USD Million, 2017-2027)
2.1 Channel
5.1 Channel
7.1 Channel
Others (3.1 and 4.1 channel)
By Technology Outlook (Volume Units, Revenue, USD Million, 2017-2027)
Bluetooth
Wi-Fi
Airplay
By Type Outlook (Volume Units, Revenue, USD Million, 2017-2027)
Wall-Mounted
Table-Top
Others
By Installation Method Outlook (Volume Units, Revenue, USD Million, 2017-2027)
Active Soundbar
Passive Soundbar
Others
By Distribution Channel Outlook (Volume Units, Revenue, USD Million, 2017-2027)
Online
Independent Retailers
Dependent Retailers
Offline
Hypermarket and Supermarket
Standalone Stores
Retail Stores
Independent Sellers
Others
By Application Outlook (Volume Units, Revenue, USD Million, 2017-2027)
Music Players
TV Sets
Computer System
Others
By Region Outlook (Volume Units, Revenue, USD Million, 2017-2027)
North America (Mexico, Canada, US)
South America (Peru, Brazil, Colombia, Argentina, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
Home Audio, by Application, is estimated to be the highest growing segment during the forecast period
Based on the application, the global soundbar market has been segmented into home audio and commercial. Home Audio is the highest growing segment during the forecast period, 2021-2027.

Vendors in the market are offering soundbars for essential consumers that can be paired with the home TV to get a cinematic sound experience in the home itself. These soundbars come in various options that include a single soundbar or a soundbar with an external subwoofer for an immersive experience. A soundbar can level up the home audio experience. The tiny speakers that come in most of the TVs cannot reproduce the frequencies at which the dialogue is most intelligible. A soundbar can produce the full range of sound, allowing the user to hear the conversation at much lower volume levels and with better quality. Even the simplest of soundbars provide sound far superior to the TV's built-in speakers. Moreover, many soundbars available in the market can communicate with other music players and smart speakers via Wi-Fi to stream music throughout their homes.

Asia Pacific accounts for the highest CAGR during the forecast period in the soundbar market
Based on region, the global soundbar market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific is estimated to account for a revenue share of 27.68% in 2020 and is growing at the highest CAGR of 10.7% during the forecast period, 2021-2027. The Asia-Pacific soundbar market is analyzed across Japan, China, India, Australia, and the rest of Asia Pacific.

Buy Report Here: https://www.marketstatsville.com/buy-now/soundbar-market?opt=2950

China dominates the soundbar market in the Asia-Pacific region. The Chinese economy is witnessing continuous growth, stimulated by consecutive increases in industrial output, imports & exports, consumer consumption, and capital investment. Moreover, OEMs' increased R&D expenditure for developing new and advanced wireless audio devices is fueling the growth of the wireless audio device market in the country. Moreover, In India, it is expected to exhibit remarkable growth in the soundbar market. As per IBEF, India's media consumption registered a CAGR of 9% during 2012-2018, about nine times that of the United States and two times that of China.

Explore Full Report with Detailed TOC Here: https://www.marketstatsville.com/table-of-content/soundbar-market

Key Market Players
The global soundbar market is fragmented into a few major players and other local, small, and mid-sized manufacturers/providers, they are Polk Audio (DEI Holdings Inc.), Samsung Electronics Co. Ltd, LG Electronics Inc., Bose Corporation, Onkyo Corporation, Sony Corporation, Voxx International Corporation, Koninklijke Philips NV, Panasonic Corporation, Sennheiser Electronic GmbH & Co. KG, Edifier International Ltd, Boston Acoustics Inc. (DEI Holdings Inc.), Hisense Home Appliance Group Co. Ltd, Sonos Inc., Xiaomi Corporation, Blaupunkt GmbH, and VIZIO Inc.

Recent Developments
In February 2020, Panasonic unveiled the SC-HTB600 Dolby Atmos soundbar (pictured, top), in addition to the lower-spec'd, non-Atmos SCHTB400 model (pictured, below). When fed a Dolby Atmos or DTS:X soundtrack, the Panasonic SC-HTB600 aims to create a convincing virtual surround sound through its two front-facing (sadly not upward-facing), full-range speakers.
In May 2020, Panasonic launched a new soundbar called TV Speaker. The new speaker is sleek, with a length of just 23.4-inches and 2.2-inches in height (4-inches front to back). It also has Bluetooth connectivity. The Bose TV Speaker uses a single connection to the TV via an optical audio cable (included) or an HDMI cable.
In May 2020, SONOS INC. announced the launch of Sonos Arc, a premium smart soundbar that brings immersive, cinema-quality sound to homes around the world. It is built on software-driven audio that immerses listeners in dramatic detail, crystal clear dialogue, and impressive bass, featuring support for Dolby Atmos.
In July 2020, Sony Corporation and Epic Games Inc. announced that Sony had agreed to make a strategic investment of USD 250 million to acquire a minority interest in Epic through a wholly-owned subsidiary of Sony. The acquisition cements an already close relationship between the two companies and reinforces the shared mission to advance state-of-the-art technology, entertainment, and socially connected online services.
Key Issues Addressed
What is the market size by various segmentation of the soundbar by region and its respective countries?
What are the customer buying behavior, key takeaways, and Porter's 5 forces of the soundbar market?
What are the key opportunities and trends for manufacturers involved in the soundbar supply chain?
What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
What and how are regulations, schemes, patents, and policies impacting the growth of the market?
What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
The market player positioning, top winning strategies by years, company product developments, and launches will be?
How has COVID-19 impacted the demand and sales of soundbars in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.

Request For Report Description: https://www.marketstatsville.com/soundbar-market

Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.

Contact US:
Eric Martin
416, East standsberry street,
Perkins, Oklahoma 74059, US
USA: +1-580-205-2707 | India: +91-702-496-8807
Email: sales@marketstatsville.com
MSG Blog https://marketstatsvilleblogs.com/
Web: https://marketstatsville.com/

About US:
Market Statsville Group (MSG) partners with companies and society to confront their essential risks and challenges to capture the enormous opportunities for them. MSG initiated its work in 2017, and since then, the brand is moving to become a pioneer in business advisory and market research services.
We the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and incisive business insights. MSG experienced research analysts are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact.

This release was published on openPR.