A sound profit

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Latest research from GfK has shown recently that the soundbars market has more than tripled in the last 12 month period, growing by 238 percent in volume and 185 percent in value year-on-year.

Soundbars with wireless docking capabilities (such as Airplay and Bluetooth), have seen value share more than double in the last 12 months from 14 percent to 41 percent. However, those products with physical ‘cradle’ docking fell from 33 percent to 13 percent in value share, based on the same time period.

Recent product releases with no docking capability have also had a positive impact on the sector, pushing value share up to 57 percent in the last 3 months, compared to 51 percent in the same time period last year, with over half coming from the £300+ price point. This can be compared to only 24 percent for soundbars with docking at the £300+ price point in the same period.

Lucy Twist, Account Manager at GfK comments, “The continued uptake in LED technology in increasingly larger TV screen sizes has brought with it a rise in thinner screens, smaller sound cavities and a deterioration in sound quality produced by the TV’s. This has been recognised both by TV manufacturers and audio-specific brands; putting more focus on the soundbar category as a clutter-free sound upgrade solution, with retailers affording more space within stores to these products. The result is that the soundbar market has more than tripled in the latest 12 months, with products that contain smartphone docking capabilities (both wireless and physical) offering a dual-purpose as a personal stereo. More recently, there has been a movement towards wireless docking (i.e. Airplay and Bluetooth); mirroring a trend seen in other more established audio markets with a shift from physical “cradle” docking to wireless docking.”

www.gfk.com/uk

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