Global Soundbar Market: Factors Helping to Maintain Strong Position Globally 2020-2026

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Global Soundbar Market Factors Helping to
Maintain Strong Position Globally 2020-2026
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Industry Overview

• Accordingly, to Global Market Insights research
  report The soundbar market landscape is poised to
  accumulate appreciative gains in the coming years
  owing to the shifting customer preferences
  towards the adoption of IoT-enabled soundbars.
  The incorporation of voice assistants coming with
  the device gives customers a hands-free
  experience for the operation of the soundbar,
  which is influencing product demand.
• Recently, rapid increase in smart TVs sales and
  the easy accessibility of online streaming
  content like web series, music, and movies is
  being observed. Customers are increasingly
  favoring technically advanced soundbars having
  specific features like easy connectivity with
  Bluetooth and Wi-Fi. In addition to this,
  customer are also favoring features like a longer
  battery life and in-built voice assistant.
• According to research report by Global Market
  Insights, Inc., soundbar market is likely to
  exceed 6.5 billion by 2026.

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• Features like built-in voice assistant and
  wireless connectivity are proliferating the sales
  of the soundbar among customers. The demand for
  5.1 channel soundbars is projected to increase
  over the projected time period. This growth is
  ascribed to the rising home theatres trend, which
  has led to a rise in the requirement for an
  effective audio system that is capable of
  facilitating an improved audio experience.
• Furthermore, the 7.1 soundbars are likely to
  foresee a growth of more than 7 CAGR during the
  projected time period owing to consumer
  preference shifting towards sound equipment that
  boast of top-quality cinematic audio capabilities
  in home settings. These soundbars are enabled
  with features such as wireless connectivity,
  Dolby Atmos with HD surround sound, hands-free
  experience and built-in voice based assistant.
  These 7.1 soundbars offer a cinematic audio
  experience and also boosts the experience of
  home-entertainment for audiophile consumers.
• The online distribution channel is likely to
  witness a high adoption because of the growing
  consumer behavior towards browsing e-commerce
  websites. Some of the chief marketing strategies
  adopted by industry players to drive the sales
  includes online advertising, webinar, email,
  social media, online/groups conferences, social
  media, publications, and web search.

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Growth Drivers

• Advent of smart homes and increased adoption of
  IoT devices
• Growing trend of subscription-based streaming
  services such as Netflix and Amazon Prime
• Increased adoption of smart TVs in Asia Pacific
• Growing popularity of voice assistant based
  soundbars in North America
• Demand for enhanced home theater experience in
  Europe

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• The prominent industry players in the market
  include VIZIO Inc, Pioneer Corporation, Polk
  Audio, TCL Corporation LG Electronics Inc.,
  Plantronics, Inc., Bose Corporation, Toshiba
  Corporation, Sennheiser Electronic GmbH Co. KG,
  Onkyo Corporation, Samsung Electronics Co., Ltd.,
  Yamaha Corporation, Sentry Industries, Inc.,
  Blaupunkt GmbH, Sharp Corporation, and Sony
  Corporation among others.

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