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A soundbar, also known as a media bar or speaker bar, stands for a single cabinet loudspeaker that produces stereo effect. The device mainly comprises of stereo analog inputs and outputs, infrared remote control, wireless connectivity option, and other audio processing features for speaker equalization. It can be primarily classified into three types, including soundbar with subwoofer, all-in-one soundbar and cinematic soundbar, among others. It offers powerful audio quality and surrounds sound by acquiring minimal space and eliminating the need for multiple speakers and external wiring. Furthermore, a soundbar can be connected to several electronic devices, such as television, laptop, PC, smartphone, and music player. The device is widely installed across residential, commercial, and entertainment sectors owing to this.
The global soundbar market is segmented on the basis of type, installation method, connectivity, application, and region. Based on type, the market is divided into Wall-Mounted, Tabletop, and Others. In terms of installation method, the market is categorized into Active Soundbar, Passive Soundbar, and Others. On the basis of connectivity, the market is divided into Wi-Fi, Bluetooth, and Others. On the basis of application, the market is divided into Home Audio, Commercial, and Others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
COVID-19 Scenario Analysis:
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increasing demand for wireless streaming of audio content, the increasing penetration of subscription-based media platforms, such as Amazon Prime and Netflix, rapid digitalization, coupled with the rising adoption of smart devices, such as laptops, smartphones, smart TVs, etc. are the major key drivers of the market. However, the availability of low-priced in stand-alone speakers is a significant factor in restraining market growth. Furthermore, integration of voice assistance technology in the soundbar and the availability of high-speed internet are the factors creating new opportunities for the market.
The Global Soundbar Market Trends are as Follows:
New Product Launches to Flourish the Market
The launch of new products that contain improved capabilities have been launched by leading market players. They have taken necessary steps to improve accuracy of devices and overall functionality as well. Key industry players are focusing on new product development strategies to strengthen the product portfolios and increase their customer bases. In May 2019, Bose launched soundbars that supports Google Voice Assistant. Google's voice assistant is available through an automatic software update on Bose soundbar 500, and Bose soundbar 700.
Surge in Usage in Electronic Devices and Industrial Applications
Various technological advancements have led to the introduction of newer and innovative 4K and 8K television technologies. Moreover, the high internet connectivity, along with rapid integration of soundbar with voice assistants, such as Alexa and Google Assistance, has enhanced the product ability for wireless content streaming, thereby improving the overall experience for the users. Furthermore, the digital transformations in the music industry are also driving the demand for compatible media and entertainment gadgets, such as soundbars, for producing strong sound with good bass response.
Furthermore, various technological upgradations, along with the rapid construction of smart homes, have further fueled the installation of soundbars in the residential spaces. Apart from this, the growing demand for soundbars from the diverse commercial sectors, such as hospitality, retail, corporate, and institutional sectors, continue to propel the growth of the global soundbar market in the forthcoming years.
Key Benefits of the Report:
Questions Answered in the Soundbar Market Research Report:
Key Market Segments
Key Market Players