According to the latest research report titled "Sub-Woofer Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to grow from US$ 834.77 million in 2021to reach US$ 1,132.62 million by 2028; it is estimated to grow at a CAGR of 4.5% from 2021 to 2028.

Growing Demand for Automobiles to Drive Market
The development of artificial intelligence (AI) technologies coupled with smartphone connectivity in automotive sub-woofer is expected to drive the market during the forecast period. Additionally, sales of cars are expected to increase in future due to the rising adoption of private vehicles to avoid social contact and exposure to SARS-CoV-2. Thus, the surge in the adoption of in-vehicle infotainment systems in cars is bolstering the demand for sub-woofers. Additionally, luxury cars and autonomous vehicles integrated with high-end infotainment systems and technologies are driving car sales in North America and Europe. As per the Center for Automotive Research (CAR), in 2018, automakers announced substantial investment projects of US$ 4.8 billion in North America and Europe. Major automakers invested US$ 3.7 billion in their US operations, with focus to modernizing the manufacturing process. Such initiatives by car manufacturers are expected to boost the global sub-woofer market.

Across Europe, Germany, France, Italy, and the UK are among the hardest-hit countries by the COVID-19 outbreak. The imbalance in the demand and supply side, and the lockdown phase in several European countries had negative impact on the sub-woofer market in 2020. Owing to the shutdown of production plants and scarcity of laborers, the growth of the sub-woofer market was hampered to a large extent. Moreover, immediate effects of the crisis have affected almost all branches of audio-visual sector such as interruption in production and shutdown of cinemas. Cinemas across the European Union saw 69.0% drop in box-office numbers in 2020, accounting for decrease in revenues by 4 billion compared to 2019. However, with launch of vaccines, the market is expected to witness significant growth during the forecast period.

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 audio devices are expected to drive the sub-woofer market. Additionally, market players are focusing on selling smart speakers and sub-woofers, which is likely to fuel the growth of the market in the future. For instance, in March 2021, Sonos introduced 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 for the global sub-woofer market during the forecast period.

Key Findings of Study:
The global sub-woofer market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). The US, Canada, and Mexico are among the key countries in North America. Moreover, APAC holds a significant share in the global sub-woofer market owing to higher awareness about latest technologies among end users.

Growth in the manufacturing industry in Asian countries such as China, Japan, South Korea, and Taiwan, would further create a positive impact on the market. The region has a strong automotive industry supported by increasing automotive manufacturing across countries such as China and India. For instance, in 2020, India and China produced 3,394,446 and 25,225,242 passenger cars and commercial vehicles, respectively. This rise in automotive manufacturing across the region is expected to increase the demand for automotive speakers, thereby contributing to the sub-woofer market's growth.

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