The report highlights the current impact of COVID-19 on the Sound Bar Market along with the latest economic scenario and changing dynamics of the market. It analyzes the impact of the pandemic on market growth and remuneration. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report estimates the market for Sound Bar Market according to the impact of COVID-19.
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.
The latest research report by Emergen Research, named ‘Global Sound Bar Market - Forecast to 2030 ’, entails a comprehensive review of the global Sound Bar Market present and future trends. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated Sound Bar Market share and size, and revenue estimations over the forecast timeframe. The study is inclusive of a profound analysis of this business sphere focuses on the overall remuneration of the market over the projected period.
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Major Companies and Competitive Landscape
The global sound bar market is moderately fragmented with a large number of small- and medium-sized companies accounting for a major revenue share. Major companies have well-established facilities and are undertaking acquisitions and mergers, and strategic agreements, and are engaging in various research & development activities and initiatives, to develop and deploy new and more efficient technologies and products in the market. Some prominent players operating in the market 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
Competitive Landscape:
The latest report encases an in-depth summary of the intensely competitive landscape of the global Sound Bar Market , with systematic profiling of the companies operating across this industry. In this section of the report, experts have listed down the strategic initiatives undertaken by these market rivals for proposed business expansion. Additionally, it highlights the key developments and financial positions of these companies to explain the overall market scenario. The company profiles of the established and new players have also been assessed in the report through effective analytical tools like SWOT analysis.
Valuable Market Insights:
- The report highlights the latest trends observed in the consumption pattern of each regional segment.
- Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.
- The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Sound Bar Market .
- The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting Sound Bar Market
Objectives of the Global Sound Bar Market Study:
- An in-depth study of the evolving market sectors and the growth & penetration status of the global Sound Bar Market
- COVID-19 Impact Analysis to highlight the major opportunities and challenges
- Strategic recommendations to help readers formulate lucrative business strategies
- Identification of the emerging players and their tactical approaches to expand market presence
- An extensive study of the product portfolios of the major Sound Bar Market players and their regional presence
- A closer look at the strategic initiatives undertaken by the leading companies across this industry, including mergers & acquisitions, collaborations, partnerships, and joint ventures
To know more about the Sound Bar Market report, visit @ https://www.emergenresearch.com/industry-report/sound-bar-market
For the purpose of this report, Emergen Research has segmented the global sound bar market on the basis of product type, connectivity, installation type, application, and region:
- 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
- Installation Type Outlook (Revenue, USD Million; 2018–2028)
- Table-top
- Wall-mounted
- Application Outlook (Revenue, USD Million; 2018–2028)
- Music Players
- Home Sound System
- TV Sets
- Computers
- Others
Regional Outlook (Revenue: USD Billion; 2017-2030 )
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
MEA
Saudi Arabia
UAE
Rest of MEA
Questions addressed in the report:
- What is the estimated market growth rate throughout the forecast period?
- Which end-use industry is expected to witness the highest demand for Sound Bar Market in the near future?
- What is the regulatory framework governing the application of Sound Bar Market in the food industry?
- Which manufacturing processes are utilized for the production of Sound Bar Market ?
The report provides a sophisticated analysis of the insightful data of the Sound Bar Market industry that has been formulated based on thorough primary and secondary research. The details have further been validated and verified by the industry experts. The precise data offered by the report offers fruitful information about sales strategies to improve market performance.
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