GCC Soundbar Market

GCC Soundbar Market Overview:

The GCC soundbar market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. A soundbar, also known as a media bar, comprises stereo analog inputs and outputs, infrared remote control, a wireless connectivity option, and other audio processing features for speaker equalization. It stands for a single cabinet loudspeaker that produces a stereo effect. It offers an enhanced audio experience to the users by reducing the need for elaborate setups, external wiring, and multiple speakers. It can be connected to different devices, including televisions, laptops, desktops, tablets, music players, and smartphones. It is commonly available in subwoofer, all-in-one, and cinematic soundbar variants.

Soundbars find extensive applications in the media and entertainment industry to enhance the experiences of streaming services. This, along with the increasing preferences for streaming content on over-the-top (OTT) platforms, represents one of the major factors augmenting the market growth in the GCC region. Rapid digitization, a considerable reliance on smart devices, and rising penetration of high speed internet connectivity are also favoring the market growth in the region. Moreover, the growing traction of home theater systems that can be connected to speakers to enhance the entertainment experience at home is influencing the market positively. In addition, soundbars are used in corporate spaces for aural communication in conferences and seminars, which is contributing to the market growth in the GCC region. Apart from this, there is a rise in the integration of smart assistants (SAs) in soundbars that have improved the product ability for wireless content streaming and enhanced the overall experience for the users. They also enable users to control the device through their voice and incorporate it with their in-house intelligent device ecosystem. This, in turn, is providing a thrust to the market growth. Furthermore, product manufacturers are introducing soundbars with powerful audio for immersive experiences in restaurants, retail stores, hospitality venues, and bars and clubs. Along with this, the growing trend of cafes with live music and fine dining is offering lucrative growth opportunities to market players operating in the region.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC soundbar market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC soundbar market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC soundbar market in detail for latest trends, outlook and opportunities.

The report analyses the competitive structure of the GCC soundbar market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC soundbar market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC soundbar market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC soundbar market industry. Furthermore, the value chain analysis of the GCC soundbar market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

GCC Soundbar Market Segment Insights:

The GCC soundbar market has been analysed as followed:

By Type:

• Wall-Mounted
• Table-top
• Others

By Installation Method:

• Active Soundbars
• Passive Soundbars
• Others

By Connectivity:

• Wi-Fi
• Bluetooth
• Others

By Application:

• Home Audio
• Commercial
• Others

By Country:

• Saudi Arabia
• United Arab Emirates
• Qatar
• Kuwait
• Oman
• Bahrain

Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.

Competative Landscape: 

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Highlights of the GCC Soundbar Market Report:

• Historical and current scenario
• Trends and developments
• Impact of COVID-19
• Market forecast
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis

Report Customisation:

The GCC soundbar market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs