According to the latest report by IMARC Group, titled "Soundbar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global soundbar market reached a value of US$ 3.18 Billion in 2020. Looking forward, the market is expected to grow at a CAGR of 9.5% during 2021-2026.
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.
A soundbar, also known as media bar, is an oblong-shaped, slender device with built-in speakers that helps to create surround sound and stereo effect. It is designed to improve audio quality by acquiring minimal space and eliminating the need for multiple speakers and external wiring. A soundbar can be connected to various electronic devices, such as computers, laptops, televisions and music players.
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The global soundbar market is driven by the rising adoption of smart devices and the growing popularity of subscription-based media platforms, such as Amazon Prime and Netflix. The market is further facilitated by the introduction of 4K and 8K television technologies. Apart from this, the construction of smart homes and the integration of soundbars with voice assistants, such as Alexa and Google Assistance, have further escalated the installation of soundbars in residential spaces. Moreover, rapid digitalization, transformations in the music industry and technological advancements are some of the other factors that have resulted in the increased demand for soundbars across the globe.
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List of Key Companies Covered in this Market Report:
- Bose Corporation
- Harman International Industries
- LG Electronics
- Panasonic Corporation
- Polk Audio
- Sennheiser Electronic GmbH & Co. KG
- Sony Corporation
- Yamaha Corporation
The report has segmented on the basis of type, installation method, connectivity, application and geography.
Breakup by Type:
Breakup by Installation Method:
- Active Soundbar
- Passive Soundbar
Breakup by Connectivity:
Breakup by Application:
- Home Audio
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 (2015-2020)
- Market Outlook (2021- 2026)
- 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.
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.
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