Surround Sound Processors Market REPORT OVERVIEW
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The global surround sound processors market size was 219.4 million in 2022. As per our research, the market is expected to reach USD 322.5 million by 2028, exhibiting a CAGR of 6.6% during the forecast period.
The COVID-19 pandemic has been unprecedented and staggering, with surround sound processors experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
Surround sound processors, also known as audio processors or AV (audio/video) receivers, are electronic devices that are used to enhance and distribute audio signals in a multi-speaker setup, creating an immersive sound experience for listeners. These processors are commonly used in home theaters, gaming setups, and professional audio environments. They decode audio signals and distribute them to multiple speakers to simulate a three-dimensional sound field, enveloping the listener in a more realistic and engaging auditory experience.
Surround sound processors decode various audio formats, such as Dolby Digital, DTS (Digital Theater Systems), Dolby Atmos, DTS:X, and more. These formats support different channels of audio, allowing for precise placement of sound effects in a 360-degree space. These processors often include technologies like room correction, equalization, and dynamic range compression to optimize audio quality in different room environments and for different listening preferences. Many modern surround sound processors also function as AV receivers, offering video connectivity options such as HDMI inputs and outputs to manage both audio and video signals from different sources, including Blu-ray players, gaming consoles, and media players.
COVID-19 IMPACT : Rise in Home Entertainment to Boost Demand Significantly
COVID-19 had a life changing impact globally. The surround sound processors market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for surround sound processors experienced an increased demand.
Many physical retail stores, including electronics and home theater retailers, were temporarily closed or faced reduced foot traffic due to lockdowns and social distancing measures. This affected the ability of consumers to physically experience and purchase surround sound processors. Economic uncertainties and changes in consumer spending patterns influenced purchasing decisions. As people focused on essential items and cut back on discretionary spending, the demand for premium audio equipment like surround sound processors may have been impacted.
With more people spending time at home due to lockdowns and restrictions on entertainment venues, there was a surge in demand for home entertainment systems. This led some individuals to invest in improving their home theater setups, including surround sound processors, to enhance their audiovisual experiences. The increased adoption of remote work and online streaming created a demand for better audio equipment for video conferencing, virtual events, and streaming content. Some individuals sought to upgrade their audio setups, which could have included surround sound processors for more immersive sound during virtual experiences. The market is anticipated to boost the surround sound processors market share following the pandemic.
LATEST TRENDS
"Integration with Gaming to Broaden Market Growth"
With gaming becoming a significant entertainment segment, some processors were incorporating features to enhance the gaming experience. This included features like low-latency audio processing and audio effects designed to immerse gamers in their virtual worlds. As video technology advanced, many processors were designed to support 4K Ultra HD video and High Dynamic Range (HDR) pass-through, ensuring that both audio and video components were of high quality.
There was a growing interest in high-resolution audio playback, leading to surround sound processors that support lossless audio formats and high sampling rates for improved audio quality. These latest developments are anticipated to boost the surround sound processors market growth.
Surround Sound Processors Market SEGMENTATION
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- By Channel Number
Based on channel number, the market is divided into Less Than 8, 8 to 26, 16 to 24, 24 to 32 and More Than 32.
- By Application
Based on application, the market is bifurcated into Home Theater, Car Audio and Others.
DRIVING FACTORS
"Rise of Streaming Content to Boost Market Share"
The demand for immersive and high-quality audio experiences in home entertainment setups, including home theaters and gaming rooms, is a significant driver. Consumers seek to replicate the cinematic and immersive audio experiences they encounter in theaters, leading to the adoption of surround sound processors. The proliferation of streaming platforms for movies, TV shows, music, and gaming has increased the demand for high-quality audio systems. Consumers are looking for audio equipment that can deliver the best possible sound quality for their streaming content.
"Home Renovation and Design Trends to Boost Market Size"
As homeowners invest in renovating and designing their living spaces, there's an increased focus on creating dedicated home theaters and entertainment areas. This trend fuels the demand for surround sound processors as an integral part of these setups. The trend of smart homes and connected devices has led to the integration of audio systems with smart home ecosystems. Surround sound processors that can be controlled via voice commands or integrated into larger smart home setups offer added convenience and appeal. These factors are anticipated to drive the surround sound processors market share.
RESTRAINING FACTORS
"Evolving Audio Technologies to Hamper Market Share"
The audio industry is rapidly evolving, with new audio technologies and formats emerging. Some consumers might be hesitant to invest in a surround sound processor if they anticipate that newer and more advanced technologies will become available shortly. Sound bars and all-in-one audio systems offer simplified audio solutions with built-in virtual surround sound features. These alternatives can appeal to consumers seeking a convenient audio upgrade without the complexity of a multi-component setup. The factors are anticipated to hinder the growth of the surround sound processors market share.
Surround Sound Processors Market REGIONAL INSIGHTS
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"North America Dominates the Surround Sound Processor Market "
North America, which includes the United States and Canada, has been a significant market for audio and entertainment technologies, including surround sound processors. This is due to a strong consumer demand for home entertainment systems, high disposable income levels, and a robust home theater culture. Europe is the second major shareholder of surround sound processor market.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Sound United [U.S.]
- Premium Audio (VOXX) [U.S.]
- Harman (Samsung) [U.S.]
- Pioneer Corporation [Japan]
- Yamaha [Japan]
- ALPS ALPINE [Japan]
- FOCAL [France]
- Emotiva Audio [U.S.]
- NAD (Lenbrook) [Canada]
- McIntosh [U.S.]
- AUDIOCONTROL [U.S.]
- Trinnov [France]
- Rotel [Japan]
- Lyngdorf Audio (SL Audio A/S) [Denmark
- Krell Industries [U.S.]
- StormAudio [France]
- Extron:Headquarters [U.S.]
- Anthem [Canada]
- Meridian Audio [U.K.]
- Crestron [U.S.]
- Bryston [Canada]
REPORT COVERAGE
This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 219.4 Million in 2022 |
Market Size Value By |
US$ 322.5 Million by 2028 |
Growth Rate |
CAGR of 6.6% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type & Application |
Frequently Asked Questions
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What value is the market expected to touch by 2028?
The global Surround Sound Processors market is expected to reach USD 322.5 million by 2028.
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What CAGR is the market expected to exhibit by 2028?
The market is expected to exhibit a CAGR of 6.6% by 2028.
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Which are the driving factors of the market?
Rise of Streaming Content and Home Renovation and Design Trends are drivers of this market.
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Which are the top companies operating in the market?
Sound United (Masimo), Premium Audio (VOXX), Harman (Samsung), Pioneer Corporation, Yamaha, ALPS ALPINE, FOCAL, Emotiva Audio, NAD (Lenbrook), McIntosh, AUDIOCONTROL, Trinnov, Rotel, Lyngdorf Audio (SL Audio A/S), Krell Industries, StormAudio, Extron, Anthem, Meridian Audio, Crestron and Bryston are key companies operating in the market.
