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Soundbar Market worth $15.31 billion by 2030, growing at a CAGR of 8.53% - Exclusive Report by 360iResearch
Soundbar Market | 360iResearch
The Global Soundbar Market to grow from USD 8.63 billion in 2023 to USD 15.31 billion by 2030, at a CAGR of 8.53%.
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A soundbar, also known as a speaker bar or audio bar, is an advanced audio device designed to enhance the audio quality of various multimedia systems, such as televisions and home theaters. Soundbars generally have a compact, sleek design that can be easily mounted on a wall or placed on a TV stand. They are primarily used for improving sound clarity and providing a more immersive audio experience than traditional built-in TV speakers. The soundbar market encompasses the manufacturing, distribution, and sales of these compact audio devices for consumer and home entertainment systems. The rising demand for high-quality home entertainment systems attributed to the increased adoption of streaming services, gaming platforms, and smart devices has raised the adoption of soundbars in recent years. However, challenges such as the high costs of premium soundbars and competition from portable audio devices, including headphones and earbuds, pose limitations to market growth. Besides limiting factors, recent advancements in wireless technology, the introduction of surround sound capabilities, and AI voice assistants have been creating lucrative future opportunities for the global soundbar market. Developing adaptive room calibration technologies, collaborating with content creators on exclusive partnerships or product bundles, and focusing on aesthetically appealing designs present potential scope for the global soundbar market.
In the Americas region, the soundbar market is growing rapidly owing to its large consumer base with high purchasing power, technological advancements in home entertainment systems, and a robust distribution network. The growing adoption of smart homes and IoT (Internet of Things) devices further propels the demand for soundbars as they offer seamless integration with various connected devices. Additionally, popular streaming services encourage users to invest in premium audio equipment to enhance their viewing experiences. The EMEA region exhibits moderate growth in the soundbar market, with Western European countries such as Germany, the UK, France, and Italy leading the industry. These nations have established markets for consumer electronics and contain an affluent population that values quality home entertainment systems. Middle Eastern countries display considerable potential for future expansion attributed to emerging economies, including Saudi Arabia and the United Arab Emirates (UAE), investing heavily in infrastructure development projects, which include shopping malls equipped with modern electronic retail stores. APAC represents one of the fastest-growing regions within the global soundbar market owing to emerging economies such as China and India, where rapid urbanization coupled with increasing per capita income has led to higher demand for advanced consumer electronics. The population in this region is shifting towards premium products, seeking superior audio experiences to complement their high-definition screens and smart devices. In addition, local manufacturers from the region offer budget-friendly soundbars catering to a wider demographic of consumers.
Market Segmentation & Coverage:
This research report categorizes the Soundbar Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Tabletop and Wall-Mounted. The Wall-Mounted is projected to witness significant market share during forecast period.
Based on Connectivity, market is studied across Bluetooth and Wi-Fi. The Bluetooth is projected to witness significant market share during forecast period.
Based on Installation Method, market is studied across Active Soundbar and Passive Soundbar. The Passive Soundbar is projected to witness significant market share during forecast period.
Based on Application, market is studied across Computer System, Music Players, and TV Sets. The TV Sets is projected to witness significant market share during forecast period.
Based on End-Use, market is studied across Commercial and Personal. The Personal is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 35.03% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Soundbar Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Soundbar Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Soundbar Market, highlighting leading vendors and their innovative profiles. These include Altec Lansing Corporation, B & W Group Limited, Bang & Olufsen A/S, Bose Corporation, Definitive Technology, LLC, Edifier International Limited, Honeywell International Inc., Intel Corporation, Klipsch Group, Inc. by VOXX International Company, Koninklijke Philips N.V., LG Corporation, Masimo Corporation, Panasonic Corporation, Samsung Electronics Co., Ltd., Sennheiser Electronic GmbH & Co. KG, Sharp Consumer Electronics Poland sp. z o.o., Sony Corporation, Sound United LLC, Vizio Inc., Yamaha Corporation, and Zebronics India Pvt. Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Soundbar Market, by Type
7. Soundbar Market, by Connectivity
8. Soundbar Market, by Installation Method
9. Soundbar Market, by Application
10. Soundbar Market, by End-Use
11. Americas Soundbar Market
12. Asia-Pacific Soundbar Market
13. Europe, Middle East & Africa Soundbar Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Soundbar Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Soundbar Market?
3. What is the competitive strategic window for opportunities in the Soundbar Market?
4. What are the technology trends and regulatory frameworks in the Soundbar Market?
5. What is the market share of the leading vendors in the Soundbar Market?
6. What modes and strategic moves are considered suitable for entering the Soundbar Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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