A sound bar is a one or two piece speaker system, which is used to generate quality sound. It is used along with devices such as computers and televisions. A two piece sound bar system consist a subwoofer. Soundbars are designed to locations where freestanding speakers cannot be installed. Various speakers are fitted that can help build stereo effect and surround sound or both in a sound bar cabinet. Moreover, soundbars can be find by television manufacturers which are designed to pair the aesthetic of the television it’s paired with.
The multi-room streaming is a key trend in the soundbars market. It is expected to drive the market during the foreast period. Rising adoption of smart homes in emerging countries is projected to create a huge demand for soundbars all across the globe during the forecast year. A smart home includes smart consumer electronic devices such as entertainment and media gadgets, which can interconnect with each other via a home network. Increasing demand for smart homes is driving the demand for technologically advanced soundbars. Technologies such as wireless speakers simplify the interaction between the devices which are connected to the home network and deliver easy streaming of videos and music.
The global soundbars market can be segmented based on product, type, connectivity, mounting type, price range, size (mm), end-user, distribution channel, and region. In terms of product, the soundbars market can be bifrcated into active soundbars and passive soundbars. Based on type, the soundbars market can be divided into wire and wireless. In terms of connectivity, the market can be segregated into bluetooth, USB, and Wi-Fi. Based on mounting type, the market can be categorized into wall mount and table top. In terms of price range, the soundbars market can be classified into less than US$100, US$101–US$300, US$301–US$500, US$501–US$700, US$701–US$900, and above US$900.
Based on size (mm), the market can be divided into up to 400 mm, 401mm–600mm, 601mm–800mm, 801mm–1000mm, and above 1000mm. Based on end-user, the soundbars market can be bifrucated into residential and commercial. The commercial segment can be sub-segmented into office, school, others. In terms of distribution channel, the soundbars market can be segregated into online and offline. The offline segment can be divided into hypermarkets & supermarkets, convenience stores, independent electric stores, and department stores.
Based on region, the global soundbars market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America comprises the U.S., Canada, and Rest of North America. Europe includes the U.K., Germany, France, and Rest of Europe. Asia Pacific encompasses India, China, Japan, and Rest of Asia Pacific. Middle East & Africa comprises GCC, South Africa, and Rest of Middle East & Africa. South America consists of Brazil, Mexico, and Rest of South America. North America and Europe accounted for a large share of the market in 2017. However, the soundbars market in Asia Pacific is estimated to expand at a considerable pace during the forecast period. The market in South America is also projected to expand in the near future.
Major companies operating in the global soundbars market include Samsung Group, Sony Corporation of America, Q Acoustics, Koninklijke Philips N.V., Sonos, Inc., Sound United, LLC., FOCAL JMLAB, Bose Corporation, Polk Audio, LG Electronics, Yamaha Corporation, VIZIO, Inc., MartinLogan, Ltd., ZVOX Audio, Harman International Industries, Pioneer Electronics (USA) Inc., Definitive Technology, and Pyle Audio. The global soundbars market is very competitive due to the presence of various established players.
These players are competing on factors such as technology, sound quality, pricing, and size. Intense competition, demographic trends, frequent changes in consumer choice, and consumer spending pattern pose a substantial risk to the players. Players are developing better and advanced technologies to gain a competitive advantage in the market. The competition is projected to intensify in the next few years due to technological advancements and entery of various players in the market.