Sub-Woofer Market Report (COVID-19 Analysis) by Worldwide Market Trends & Opportunities and Forecast to 2028

According to The insight Partners latest market study on "Sub-Woofer Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Application, End-User, and Geography," the market is expected to grow from US$ 834.77 million in 2021 to reach US$ 1,132.62 million by 2028; it is estimated to grow at a CAGR of 4.5% from 2021 to 2028.

The global sub-woofer market is segmented into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. In 2020, APAC led the market with a substantial revenue share, followed by North America and Europe. With increasing disposable income and temporary shutdown of cinemas, the demand for home sub-woofers is anticipated to grow in near future. Moreover, increasing OTT platforms and trend of web series are expected to drive the global sub-woofer market. The sub-woofer market is developed in a few economies, whereas it is still growing substantially in developing economies.

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Continuous technological innovations in home audio systems and increasing demand for high-performance home theaters are increasing the adoption of sub-woofers. Moreover, advancements such as rising application of bluetooth speakers and internet connectivity for music and videos are factors propelling the demand for sub-woofers. Increasing product development in the home application segment is propelling the market. For instance, in 2021, Sonos launched a mini sub-woofer to boost home cinema. Additionally, cinema technologies such as Dolby Atoms, Roman theater, and others have supported the uptake of sub-woofers. The upswing in demand for high-performance, rigid, and reliable cinema sub-woofers is driving the global sub-woofer market
Considering the growing demand for sub-woofers in vehicles, the automotive industry is one of the major contributing sectors toward the market. Also customers have the choice to customize sub-woofers cabinet material as per their requirements. The sub-woofer market is developed in a few economies, whereas it is still growing substantially in developing economies.

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Note - The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on 'Sub-Woofer Market' provides the analysis on impact on Covid-19 on business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.

The audio industry has witnessed a rise in demand for wireless audio devices such as bluetooth speakers and sound-bars. The increasing adoption of bluetooth speakers among customers is creating new revenue streams for market players. Wireless streaming of audio content is also driving the growth of this market. Nowadays, most audio systems are equipped with connectivity features such as bluetooth and Wi-Fi. Devices such as laptops, smartphones, and tablets have Wi-Fi and bluetooth chips, which allow the sub-woofer to play audio wirelessly. Market players are focusing on selling smart speakers and sub-woofers, which is likely to fuel the growth of the market in future.For instance, in March 2021, Sonos introduced its latest speaker (the Sonos Roam), its first fully portable bluetooth speaker, which doubles as a full-fledged member of Sonos system when in reach of Wi-Fi network. Thus, the growing consumer interest toward technologically advanced audio devices is expected to create lucrative opportunities in the global sub-woofer market during the forecast period.

Dynaudio A/S, K-Array, Harman International, Sony Corporation, SV Sound, Pioneer India Electronics Pvt. Ltd., Paradigm Electronics Inc., LW Speakers professional sound systems, Klipsch Group Inc., and JVC Kenwood Holdings Inc. are among the major companies operating in the sub-woofer market.

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