South America Sub-Woofer Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Car Audio, Home Audio, Cinema Sound, Sound Reinforcement, and Others) and End-user (Residential and Commercial)

South America Sub-Woofer Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Car Audio, Home Audio, Cinema Sound, Sound Reinforcement, and Others) and End-user (Residential and Commercial)

The sub-woofer market in SAM is expected to grow from US$ 47.75 million in 2021 to US$ 75.09 million by 2028; it is estimated to grow at a CAGR of 6.7% from 2021 to 2028. Changing consumer lifestyles and shifting preference toward the usage of home theaters or home-based cinemas halls by urban areas high profile consumers will create an increasing trend of installing a home theater in almost every home in the upcoming years. Consumers' preference has been shifting towards home entertainment and theatre solutions due to the increasing prices of movie tickets. This trend has encouraged buyers to invest in high-quality speaker systems as they create a cinematic experience in their homes. Moreover, rising sales of large-sized televisions with high screen resolution and projectors have been improving the movie theater experience of consumers in their own homes with more comfort. This trend is expected to promote the demand for sub-woofers in audio systems among consumers over the next few years.

The commercial segment led the SAM multimodal image fusion software market, based on end-user, in 2020. Sub-woofer are used across various commercial applications, including cinema, music, museum, conference rooms, business offices, in heavily populated areas like train stations, airports, and college universities, retail spaces, restaurants/bars, auditorium, concerts, AR/VR, and others. Furthermore, car sudio, cinema sound, sound reinforcements are the application which comes under commercial sectors. Growing exploration activities and developments related to audio system and human-computer interface technology are creating prominent opportunities for the commercial market. The continuous research & development and upgrades in the automotive sector propel the growth of the market. Additionally, the growing consumer interest in technologically advanced audio devices is expected to create a positive impact for the commercial sub-woofer market.

Brazil has reported the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. Governments of these countries have taken several actions to protect their citizens and contain COVID-19’s spread. South America faced lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the US, which are important trade partners of many countries in the region. Containment measures in several countries of South America hampered their economic activities, and the manufacturing and service sectors until the next quarter. The economies are expected to revive once the effect of pandemic subsides. The weakened manufacturing businesses and trade have restrained the sub-woofer market performance in the region.

The SAM sub-woofer market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast of the SAM sub-woofer market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the SAM sub-woofer market. Dynaudio A/S, Harman International, JVC Kenwood Holdings Inc., K-Array, Klipsch Group Inc., Paradigm Electronics Inc., Sony Corporation, and SV Sound are among a few players operating in the market in this region.

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