IMARC Group, a leading market research company, has recently releases report titled “GCC Soundbar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” The study provides a detailed analysis of the industry, including the GCC soundbar market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the GCC Soundbar Market?
The GCC soundbar market size reached US$ 90 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 153 Million by 2028, exhibiting a growth rate (CAGR) of 9.4% during 2023-2028.
What is Soundbar?
A soundbar represents a speaker that is used to produce sound from a special cabinet. Also referred to as a media or speaker bar, it consists of a slim unit comprising several built-in speakers, which are specifically designed to improve sound quality with minimal wiring. A soundbar can be mounted above or below a display device, as it is manufactured in a horizontal design that enhances the acoustic experience. In addition to this, these speakers can be connected to various electronic devices, such as laptops, PC, smartphones, television, music player, etc. As a result, soundbars find extensive applications across residential, commercial, and entertainment sectors.
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What Are the Growth Prospects and Trends in the GCC Soundbar Market?
The growing penetration of smart devices that can be connected to speakers to enhance the entertainment experience at home is among the primary factors driving the GCC soundbar market. Apart from this, the escalating demand for subscription-based media platforms, such as Amazon Prime and Netflix, the emerging trend of digitalization, and the introduction of newer and innovative 4K and 8K television technologies are further augmenting the market growth. Moreover, the widespread adoption of the soundbar, as it is cost-effective and easier to set up than other conventional stereo systems, is acting as another significant growth-inducing factor. Besides this, the increasing internet connectivity and the rising integration of soundbar with voice assistants, including Alexa and Google Assistance, to enhance the ability for wireless content streaming, thereby improving the overall experience for the users. Additionally, the inflating need for compatible media and entertainment gadgets for producing strong sound with good bass response is expected to bolster the GCC soundbar market in the coming years.
What is Included in Market Segmentation?
The report has categorized the market based on type, installation method, connectivity and application.
Breakup by Type:
Breakup by Installation Method:
Breakup by Connectivity:
Breakup by Application:
Countries Covered:
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Key Highlights of the Report:
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