LONDON--(BUSINESS WIRE)--Technavio has published a new report on the Global Soundbar Market, which is expected to post a CAGR of 18.38 and 10.61 percent, in terms of volume and revenue, respectively, from 2014-2019.
The new Technavio report draws attention towards wireless streaming of audio content via soundbars. Most soundbars come with wireless support like Bluetooth, Wi-Fi connectivity and near-field communication (NFC). Moreover, soundbars require less space and use minimal wiring, so the system does not look cluttered.
“The latest soundbars can connect to portable devices like MP3 players, smart phones, tablets and laptops, which offers an added benefit to the end-users,” says Faisal Ghaus, Vice President of Technavio.
The Technavio report also emphasizes the growing number of smart homes worldwide. Homes in developed nations are getting revamped into smart homes with more and more interconnected technology. Consumer electronic devices, media and entertainment gadgets and other smart electronics in a smart home are connected to the home network so they can easily interact with each other.
“The market for smart homes in developing countries is also growing as the spending capacity of consumers in these countries has improved, which is boosting demand for soundbars from these geographies,” says Ghaus.
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Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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