The sub-woofer market is expected to grow from US$ 834.77 million in 2021 to US$ 1,132.62 million by 2028; it is estimated to register a CAGR of 4.5% during 2021–2028.
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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Sub-Woofer Market: Strategic Insights
Market Size Value in US$ 834.77 million in 2021 Market Size Value by US$ 1,132.62 million by 2028 Growth rate CAGR of 4.5% from 2021 to 2028. Forecast Period 2021-2028 Base Year 2021
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Sub-Woofer Market: Strategic Insights
Market Size Value in | US$ 834.77 million in 2021 |
Market Size Value by | US$ 1,132.62 million by 2028 |
Growth rate | CAGR of 4.5% from 2021 to 2028. |
Forecast Period | 2021-2028 |
Base Year | 2021 |
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Speak to AnalystImpact of COVID-19 Pandemic on Sub-Woofer Market
Temporary shutdown of the manufacturing units has negatively impacted growth of the sub-woofer market across the globe and has led to challenges such as disturbance in supply chain and falling business confidence. Due to the COVID-19 outbreak, the production, supply chain process, and research and development (R&D) activities have slowed across the globe. Sales of sub-woofer decreased significantly during the COVID-19 pandemic due to operational constraints in sales channels such as specialty stores and e-commerce platforms. However, various manufacturing firms have restarted production of sub-woofers and is expected to boost growth of the sub-woofer market.
Lucrative Regions for Sub-Woofer Products Providers
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Sub-Woofer Market Insights
Rising Demand for Wireless Audio Devices and Smart Connectivity
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.
Application-Based Market Insights
Based on application, the sub-woofer market is segmented into car audio, home audio, cinema sound, sound reinforcement, and others. In 2020, the home audio segment accounted for the largest market share.
Sub-Woofer Market, by Application, 2020 and 2028 (%)
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End-User-Based Market Insights
Based on end-user, the sub-woofer market is bifurcated into residential and commercial. In 2020, the commercial segment accounted for a larger share in the market.
Players operating in the sub-woofer market adopt strategies such as mergers & acquisitions and technical initiatives to maintain their positions in the market. A few developments by key players are listed below:
- In 2021, K-array unveiled a new line of audio solutions with the aim of introducing new technologies into speaker products while targeting budget-sensitive yet highly demanding applications.
- In 2021, Panasonic and Klipsch announced an exclusive collaboration to deliver the revered “Klipsch Sound” and audiophile-quality performances to in-vehicle experience at the CES trade show in Las Vegas.
The sub-woofer market is segmented into application, end-user, and geography. Based on application, the market is categorized into car audio, home audio, cinema sound, sound reinforcement, and others. Based on end-user, the global sub-woofer market is divided into residential and commercial. Geographically, the sub-woofer market is primarily segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
Company Profiles
- 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.
- JVC Kenwood Holdings Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application and End-user.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Changing consumer lifestyles and shifting preference toward the usage of home theaters or home-based cinemas halls by urban areas high profile consumers will create an increasing trend of installing a home theater in almost every home in the upcoming years. Consumers' preference has been shifting towards home entertainment and theatre solutions due to the increasing prices of movie tickets. This trend has encouraged buyers to invest in high-quality speaker systems as they create a cinematic experience in their homes.
Asia Pacific region dominated the market in 2020 & is expected to be the fastest-growing region as well during the forecast period for the sub-woofer market globally. The growth of the sub-woofer market in Asia Pacific is ascribed to a few leading sound system providers striving to expand and strengthen their presence in the region. The region homes two of the most populated countries globally, namely China and India. These countries have a massive base of young population who are constantly adopting new and advanced speaker solutions, such as smart speakers and home theaters. The rising demand for smart speakers has experienced a drastic increase across developing countries like India, which is further expected to contribute to the market's growth over the years.
Commercial segment was estimated to dominate the market in 2020 and during the forecast period as well. Sub-woofer are used across various commercial applications, including cinema, music, museum, conference rooms, business offices, in heavily populated areas like train stations, airports, and college universities, retail spaces, restaurants/bars, auditorium, concerts, AR/VR, and others. Furthermore, car audio, cinema sound, sound reinforcements are the application that comes under commercial sectors. Growing exploration activities and developments related to audio systems and human-computer interface technology are creating prominent opportunities for the commercial market.
Home audio was estimated to dominate the market in 2020. The home audio system is a personalized audio system. There are four basic types of home theatre audio systems: home-theatre-in-a-box system, sound bar, component system, component separates. A subwoofer is a loudspeaker that handles the lower frequencies or bass. In a piece of home music or home theater audio system, the sub-woofer is often one of the most important speakers in the room. Sub-woofers are important because most speakers in audio or home theater system are not capable of reproducing all the frequencies your audio source sends to them. Consumers preference has been shifting towards home entertainment and theatre solutions owing to the increasing prices of movie tickets. Moreover, the growing prevalence of smart homes across the globe is a major factor contributing to market expansion during the forecast period.
The audio industry has witnessed a shift to the rise in the demand for wireless audio devices, such as Bluetooth speakers and sound bars. The increasing uptake of Bluetooth speakers and other such devices among end-users is creating new revenue streams for market players. The 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. Wireless sound systems, such as smart speakers and sub-woofers, are small and occupy a limited space than home theatre sub-woofers. Most portable devices, such as laptops, smartphones, and tablets, are implemented with Wi-Fi and Bluetooth chips, which allow the sub-woofer to run audio content wirelessly.
A sub-woofer is usually a part of the sound system and is used for producing low-pitched audio frequencies that are known as sub-bass and bass. A sub-woofer is used for various applications such as home audio, cinema sound, car audio, sound reinforcement, outdoor entertainment, etc. The requirement for sub-woofers is growing with the increasing count of public meetings, stand-up comedy shows, and cinema halls. Shifting preferences and changing consumer lifestyles toward the use of on-board infotainment systems in ride-hailing services is anticipated to create promising opportunities for the sub-woofers required in automobiles.
The List of Companies - Global Sub-Woofer Market
- 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.
- JVC Kenwood Holdings Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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