Report : Asia Pacific Sub-Woofer Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Car Audio, Home Audio, Cinema Sound, Sound Reinforcement, and Others) and End-user (Residential and Commercial)
Commercial Segment to Dominate APAC Sub-Woofer Market during 2021–2028
According to a new market research study on “APAC Sub-Woofer Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application and End-User” is expected to reach US$ 547.40 million by 2028 from US$ 384.74 million in 2021. The market is estimated to grow at a CAGR of 5.2% from 2021 to 2028. The report provides trends prevailing in the APAC sub-woofer market along with the drivers and restraints pertaining to the market growth. Rise in demand for wireless audio devices and smart connectivity is the major factor driving the growth of the APAC sub-woofer market. However, issues associated with the availability of low-quality subwoofers hinder the growth of APAC sub-woofer market.
The APAC sub-woofer market is segmented into type, application and country. In terms of application, the sub-woofer market is categorized into car audio, home audio, cinema sound, sound reinforcement, and others. The others segment dominated the market in 2020 and cinema sound segment is expected to be the fastest growing during the forecast period. Based on end-user, the sub-woofer market is categorized into residential and commercial. The commercial segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Based on country, APAC sub-woofer market is classified into China, India, Japan, South Korea, and Rest of APAC.
The APAC region is hugely affected by a COVID-19, owing to a massive number of cases in China, the country is the most crucial manufacturer and industrial producer since it trades more manufacturing goods than any other country in the globe; it is also a world leader in several types of goods. According to the Organization for Economic Co-operation and Development (OECD), the other major economies outside of China have also impacted by the pandemic, such as huge South Korea, India, Australia, and Japan, and are experiencing downward growth. Since the outbreak of COVID-19 across the Asia-Pacific, several countries have suffered heavily. China, Japan, South Korea, India, Hong Kong, and Taiwan are some of the countries that have incurred a huge loss. The manufacturing sectors in the countries mentioned above have been experiencing low production and a weak supply chain. However, the sudden shutdown of major economic activities in the region has highly impacted the media & entertainment sector as majority of population from India, China, Taiwan, South Korea, and other Asian countries has adopted OTT platforms to spend time when they are idle. This shift in trend has boosted the sub-woofer market as viewers prefer high-quality audio hardware for better experience. Hence, the overall impact of COVID-19 on APAC region is low to moderate.
Dynaudio A/S, Harman International, JVC Kenwood Holdings Inc., K-Array, Klipsch Group Inc., LW Speakers Professional Sound Systems, Paradigm Electronics Inc., Pioneer India Electronics Pvt. Ltd., Sony Corporation, and SV Sound are among the leading companies in the APAC sub-woofer market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, K-array has unveiled a new line of audio solutions with the aim of introducing new technologies into the products while targeting budget-sensitive yet highly demanding applications.
APAC Sub-Woofer Market, By Country, 2020 and 2028 (%)
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