Latin America Soundbar Market Top Companies, Investment Trend, Growth & Innovation Trends 2022-2027

imarc July 6, 2022

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According to IMARC Group’s latest report, titled “Latin America Soundbar Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, the market size reached US$ 295.7 Million in 2021. A soundbar is a single cabinet loudspeaker, which is extensively employed in the commercial, entertainment, and residential sectors for producing stereo effects due to its high-quality audio. It can be operated through various electronic devices, such as desktops, laptops, tablets, smartphones, and music players. The soundbar generally consists of a wireless connectivity option and stereo analog input and output. Currently, it is commercially available in several types like cinematic, all-in-one, and subwoofer.

A soundbar is an audio system enclosure that creates virtual surround sound with the help of advanced vibration technologies. It comprises stereo analog inputs and outputs, infrared remote control, wireless connectivity option, and various other audio processing features for speaker equalization. In the Latin American region, soundbars have gained immense traction as they offer a powerful audio experience, eliminate the need for multiple speakers, and require minimal space and external wirings.

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The widespread adoption of wireless audio devices in commercial sectors, coupled with the increasing utilization of various technological devices, such as desktops, smart TVs, and smartphones, is one of the key factors driving the Latin America Soundbar market toward growth. Additionally, the rising popularity of various subscription-based and over-the-top (OTT) platforms, such as Netflix, Unscreen TV, Amazon, and Vimeo, is another growth-inducing factor.

Latin America Soundbar Market Trends:

Furthermore, the introduction of innovative 4K and 8K television technologies, along with the rapid digitization and the integration of voice assistants like Google Assistance, Siri, and Alexa, is creating a positive outlook for the market. Looking forward, IMARC Group expects the Latin America soundbar market to reach US$ 519.5 Million by 2027, exhibiting a growth rate (CAGR) of 9.99% during 2022-2027.

The Latin American soundbar market is primarily driven by the availability of soundbars in a wide range of shapes and sizes. At present, countries such as Mexico and Brazil are the largest markets for soundbars. The growing prominence of high-end mainstream brands in these countries offering advanced and multifunctional devices is also propelling the market growth. Furthermore, manufacturers are increasingly equipping their devices with one or more smart assistants. This allows users to control the device via their voice and also integrate it with their in-house intelligent device ecosystem. This capability has increased the willingness of consumers to invest in soundbars.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally, and our estimates about the latest market trends and forecasts, are being done after considering the impact of this pandemic.

Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Latin America soundbar market report, along with forecasts at the regional and country-level from 2022-2027. Our report has categorized the market based on type, installation method, connectivity, and application.

Type:

Wall-Mounted
Tabletop
Others

Installation Method:

Active Soundbar
Passive Soundbar
Others

Connectivity:

Wi-Fi
Bluetooth
Others

Application:

Home Audio
Commercial
Others

Country:

Brazil
Mexico
Argentina
Colombia
Chile
Peru
Others

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Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.