The latest report by IMARC Group, titled “India Soundbar Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the India soundbar market size reached US$ 136.6 Million in 2021. A soundbar, also known as a media bar, is an audio system enclosure that creates a stereo effect using advanced vibrations technology. It consists of multiple built-in speakers, stereo analog inputs and outputs, wireless connectivity options, infrared remote control, and other audio processing features. It requires less space and is more cost-effective as compared to conventional stereo sound systems. It also offers powerful audio quality while eliminating the need for multiple speakers and wiring. Owing to these benefits, soundbars are widely adopted in residential and commercial spaces across India.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Soundbar Market Trends:
The market is primarily driven by the growing popularity of subscription-based media platforms, such as Amazon Prime and Netflix. Nowadays, individuals are connecting their televisions and smart devices to speakers to enhance their entertainment experience at home. In addition, the increasing access to intuitive technologies and virtual assistants due to the rising disposable incomes of consumers represent another major growth-inducing factor. Besides this, key players are introducing advanced internet of things (IoT)-enabled devices to expand their consumer base. For instance, Zebronics launched ZEB-Juke Bar 9700 Pro Dolby Atmos soundbar with multiple connectivity options. This, coupled with the rising adoption of flat-panel TV sets, is boosting the sales of soundbars. Moreover, rapid digitalization, improving living standards, increasing penetration of high-speed internet connections, and growing awareness regarding smart and automated systems are some of the other factors creating a favorable market outlook across the country. Looking forward, IMARC Group expects the market value to reach US$ 258.28 Million by 2027, exhibiting a CAGR of 11.33% during the forecast period (2022-2027).
- On the basis of the type, the market has been categorized into wall-mounted, tabletop, and others.
- Based on the installation method, the market has been segregated into active, passive, and other soundbars.
- On the basis of connectivity, the market has been classified into Wi-Fi, Bluetooth, and others.
- Based on the application, the market has been segmented into home audio, commercial, and others.
- On the geographical front, the market has been divided into North India, West and Central India, South India, and East India.
- The competitive landscape of the market has been studied in the report, with the detailed profiles of the major players operating in the industry.
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