A new generation of TVs has emerged in the past few years, one that promises better contrast, crisper images and brighter colors, all rolled up in thinner, lighter packages.
And given that this new breed of television usually comes with a price tag of upwards of US $1,000, the built in sound on these spectacular new offerings is also fantastic, right?
Nope.
All that concentration on thin and light doesn’t exactly leave room for a stellar sound system. Not to mention, most vendors that are selling fancy TVs have also gotten into the soundbar business.
A soundbar is a slim unit with multiple built-in speakers, designed to dramatically improve sound quality with minimal wiring.
According to Technavio, the number of shipments in the Global Soundbar Market are expected to grow at a CAGR of 18.38 percent from 2014-2019. In terms of revenue, the market is expected to grow at a CAGR of 10.61 percent during the forecast period.
The main reasons that the global market is growing (other than the need to make up for the lackluster sound quality on TVs) basically come down to more disposable income among consumers, and evolution of the music industry and audio technology.
The Paradox of Choice is Alive and Well in the Soundbar Market
But consumers shopping for sound systems are faced with a difficult decision: Is your audio priority focused on gaming, music or movies? Do you opt for surround sound or a home stereo system? Even portable Bluetooth speakers from vendors like Beats, Bose, Skullcandy, Sony, and JBL have built-in bass that provides powerful, portable sound.
Even among soundbars themselves, the options are pretty plentiful. Just a few of the companies that are currently selling soundbars include:
- Arçelik A/S
- Bose Corp.
- CSR plc
- Harman International Industries Inc.
- Koninklijke Philips NV
- Polk Audio Inc.
- Sennheiser Electronic GmBH (Germany)
- Sonos Inc.
- Vizio Inc.
- Voxx International Corp.
- Yamaha Corp.
And this is by no means an exhaustive list.
Even the price of the technology runs the gamut, from US $100 right up to over US $1,500. This wide range of choice is actually a big challenge for vendors in the Global Soundbar Market, as it fragments the consumer base and can lead to smaller revenues in the long run.
Vendors Opting for Product Bundling and DLNA Certification to Boost Sales
A lot of vendors are opting for product bundling to boost sales and attract more customers to their products. In a lot of cases, the sound systems are being bundled together with home theatre systems or flat screen TVs, to make a complete package.
Additionally, a lot of vendors are seeking out DLNA certification for their products. A DLNA-certified soundbar can be connected to various other certified products, which enables easy streaming through various smart devices. This kind of certification is expected to seriously contribute to market growth over the projected period.
