Global Soundbar Market 2017-2021
A soundbar is a single cabinet loudspeaker that produces surround sound. It occupies minimal space and can be mounted on the wall. It eliminates the need for multiple sound boxes and any external wiring to interconnect satellite speakers. The growing adoption of soundbars has affected the sales of other home audio speakers, such as home theater systems and Blu-ray audio players.
Technavio’s analysts forecast the global soundbar market to grow at a CAGR of 16.18% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global soundbar market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of soundbars.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Soundbar Market 2017-2021
Technavio recognizes the following companies as the key players in the global soundbar market:
Other Prominent Vendors in the market are: Atlantic Technology, Bowers & Wilkins, Cambridge Audio, Definitive Technology, Denon Electronics, Edifier International, Focal-JMLab, Harman International Industries, JBL, JVCKenwood, Koninklijke Philips, Panasonic, Pioneer, Polk Audio, Qualcomm Technologies, Sennheiser, Sonos, Vizio, and ZVOX.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increase in multi-room streaming. The introduction of networked audio systems means the reduction in expense, efforts, and time, as all audio devices are wirelessly connected with technologies such as AirPlay, Bluetooth, or Wi-Fi. These technologies separate a system’s physical and logical connections, which means that a single network carries multiple channels, making it possible to make infrastructure changes relatively quickly and inexpensively. The growing trend of maintaining speakers in all rooms is supporting the growth of the speaker market.”
According to the report, one of the major drivers for this market is increase in number of smart homes. Many homes in developed nations such as the US and the UK are being remodeled to smart homes. A smart home consists of media and entertainment gadgets, consumer electronic devices, and other smart electronics that can interact with each other through a home network. The demand for smart homes is driven by the go green policy, energy saving requirements, need for convenience, and connectivity between different devices.
Further, the report states that one of the major challenges with wireless speakers is the limitation of streaming audio content up to the range of network extension. As these speakers work via the Bluetooth network, it is important for the network range to be strong and equally spread across all areas. If the network is strong in one room and weak in another room, the quality of sound reduces.
Atlantic Technology, Bowers & Wilkins, Cambridge Audio, Definitive Technology, Denon Electronics, Edifier International, Focal-JMLab, Harman International Industries, JBL, JVCKenwood, Koninklijke Philips, Panasonic, Pioneer, Polk Audio, Qualcomm Technologies, Sennheiser, Sonos, Vizio, ZVOX.