The global Sound Bar market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.
The global sound bar market size is expected to reach USD 9,625.1 Million in 2028, and register a revenue CAGR of 7.3% during the forecast period. Steady market revenue growth can be attributed to growing demand for Over-The-Top (OTT) on-demand media platforms. OTT media platforms, such as Amazon Prime, Hotstar/Disney+, Netflix, and Apple TV+ are offering a faster and efficient way for content creators to connect with a newer and larger audience base worldwide across mobile devices and living rooms. OTT apps and increasing penetration of mid-range to premium range mobile devices, computers, smart TVs, set-top-boxes, and home audio systems have brought about democratization of high, on-demand quality content. Although in-built speakers in TV sets and other devices have improved substantially over the last couple of years, they still lag behind and do not match the sound quality and experience delivered by sound bars. Also, there are few titles on several OTT platforms that have audio tracks with more number of channels/high dynamic range, and require a dedicated audio system, such as sound bars, to create a fully immersive experience of the dynamic range of those studio tracks. These factors are resulting in growing demand for sound bars across the globe.
In view of the current COVID-19 pandemic, the growth of the Sound Bar industry is expected to be significantly affected, especially due to movement restrictions and lockdowns affecting supply and demand. There has been a significant impact of the COVID-19 pandemic on several sectors of the global market. The Sound Bar sector is expected to be affected too. The economic slowdown and dynamic changes in the demands will also adversely affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall Sound Bar industry.
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Competitive Terrain:
The global Sound Bar industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Altec Lansing Inc., LG Electronics Inc., Sharp Corporation, B & W Group Ltd., Sony Corporation, Panasonic Corporation, JBL, Samsung Electronics Company Ltd., Bose Corporation, Koninklijke Philips NV
Radical Highlights of the Sound Bar Market Report:
- Comprehensive overview of the Sound Bar market along with analysis of the changing dynamics of the market
- Growth Assessment of various market segments throughout the forecast period
- Regional and global analysis of the market players, including their market share and global position
- Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
- Impact of the technological developments and R&D advancements on the Sound Bar market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
- The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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Market Segmentations of the Sound Bar Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Sound Bar market on the basis of product, application, and region:
Segments Covered in this report are:
Product Type Outlook (Revenue, USD Million; 2018–2028)
- Active Sound Bar
- Passive Sound Bar
Connectivity Outlook (Revenue, USD Million; 2018–2028)
- Wired
- HDMI Cable
- Optical cable
- Coaxial Cable
- Others
- Wireless
- Bluetooth
- Wi-Fi
- Wired
Installation Type Outlook (Revenue, USD Million; 2018–2028)
- Table-top
- Wall-mounted
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Regional Outlook of the Sound Bar Market
The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Table of Contents
- Executive Summary
- Research Methodology
- Market Overview
- Regional Landscape
- Global Market Analysis and Forecast by Types
- Global Market Analysis and Forecast by Applications
- Global Market Analysis and Forecast by Regions
- North America Market Analysis and Forecast
- Europe Market Analysis and Forecast
- Asia Pacific Market Analysis and Forecast
- Latin America Market Analysis and Forecast
- Middle East & Africa Market Analysis and Forecast
- Competitive Landscape
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