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Soundbar Market Trends 2022 | Growth, Share, Size, Demand and Future Scope 2027

11-18-2022 08:50 AM CET | IT, New Media & Software

Press release from: IMARC Group

Soundbar Market Trends 2022 | Growth, Share, Size, Demand

According to the latest report by IMARC Group, titled "Soundbar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global soundbar market reached a value of US$ 3.4 Billion in 2021. A soundbar is an oblong-shaped device that is used to produce a stereo effect. It is a type of audio system enclosure that comprises of numerous individual speakers placed side by side. The device is also characterized by various advanced features, such as infrared remote control, stereo analog inputs and outputs, wireless connectivity option, and other audio processing features pertaining to speaker equalization. It is widely used across the residential, commercial, and entertainment sectors to create virtual surround sound with the help of advanced vibrations technology. Also known as a media or speaker bar, it is widely utilized to offer an enhanced audio experience to the users by eliminating the need for elaborate setups, external wiring and multiple speakers.

Request Free Sample Report: https://www.imarcgroup.com/soundbar-market/requestsample

Market Trends

The global market is primarily driven by the growing preference for online media consumption. The escalating popularity of subscription-based media platforms, such as Netflix, Amazon Prime, Disney+ and Hulu, along with the rising adoption of flat-panel TV sets, has created an increasing requirement for premium viewing experience among the masses, thereby providing a boost to the sales of soundbars. This is supported by improving standards of living, inflating per capita income levels and the availability of high-speed internet connection. The market is further driven by the rapid integration of these devices with voice assistant technology. Several key players, including Bose Corporation, are launching models that support Alexa and Google Assistant to offer seamless content streaming experience, which is widely gaining prominence among individuals. Along with this, the growing adoption of smart homes on the global level has created an increasing demand for connected communication devices, which, in turn, is facilitating the uptake of soundbars. Numerous digital transformations in the music industry are further providing a thrust to the demand for compatible media and entertainment gadgets with good bass response. Some of the other factors contributing to the market growth include rapid digitalization and the launch of numerous television (TV) sets integrated with 8K technology, along with increasing product utilization in the hospitality and institutional sectors. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 9.19% during 2022-2027.

Ask Analyst and Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/soundbar-market

List of Key Companies Covered in this Market Report:

Bose Corporation
Edifier
Harman International Industries
LG Electronics
Panasonic Corporation
Polk Audio
Samsung
Sennheiser Electronic GmbH & Co. KG
Sony Corporation
Yamaha Corporation

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

The report has segmented on the basis of type, installation method, connectivity, application and geography.

Breakup by Type:

Wall-Mounted
Tabletop
Others

Breakup by Installation Method:

Active Soundbar
Passive Soundbar
Others

Breakup by Connectivity:

Wi-Fi
Bluetooth
Others

Breakup by Application:

Home Audio
Commercial
Others

Breakup by Geography:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Contact US

IMARC Group
30 N Gould St Ste R
Sheridan, WY 82801 USA - Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800 Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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