The soundbar, also known as media bar is a type of loudspeaker. The soundbar enclosed multiple speakers that are placed in their cabinet which helps to create surround sound and stereo effect. The soundbar is used for enhancing the sound quality of audio tracks playing and it can be connected to devices such as computers, TV sets and music players etc. The soundbar market is gaining the momentum owing to its extremely superior features like stream & connect with other portable devices such as laptops, tablets, and smartphones. Additionally, the growing adoption of emerging television technologies such as 4K & 8K along with the reducing price of these devices is majorly diving the soundbar market growth. Moreover, innovation in technology is likely to provide numerous opportunities in untapped emerging economies.
As per Value Market Research, the Global Soundbar Market is expected was valued USD 2,840.5 MN (by revenue) in 2017 and is anticipated to reach USD 5,709.5 MN by 2024 with a CAGR of 10.5%. By volume, the market was estimated at XX.X Thousand Units in 2017 and is expected to reach XX.X Thousand Units by 2024 with a CAGR of X.X%.
VERSION 2.1 IS GAINING THE MOMENTUM IN THE SOUNDBAR MARKET
Version 2.1 soundbar is widely used across the globe owing to its best sound performance. Additionally, it is used as the center channel for delivering a powerful entertainment upgrade in music and movie. As per the study, Version 2.1 soundbar is estimated to generate USD XX.X MN revenue by the end of 2024.
MUSIC PLAYERS HELPS SOUNDBAR TO GAIN HIGHEST MARKET SHARE
Soundbar market includes computer systems, music players, TV sets, and other applications. The growing trend of events and parties in sports, corporates, film industry, theatres and others are fueling the demand for soundbar over the forecast period. The rising application of soundbar in music player industry is likely to fuel the enormous growth to the segment. It is estimated that the segment will generate USD XX.X MN revenue by the end of 2024.
NORTH AMERICA TO HOLD THE MAXIMUM SHARE
In 2017, North America accounted for the largest share in global soundbar market. It is estimated that it will generate revenue of USD XX.X MN by the end of 2024. The presence of huge number of young population is majorly driving the demand for soundbar market. Additionally, the rising disposable income along with the rising trend of house parties and get–together further fuel the demand in this region.
KEY PLAYERS OF GLOBAL SOUNDBAR MARKET
Bose Corporation, Harman International Industries, Incorporated, Philips Electronics, LG Electronics Inc., Panasonic Corporation, Polk Audio, Samsung Electronics Co., Ltd, Sharp Electronics Corporation, Sony Electronics Inc., Vizio Inc. and Yamaha Corporation are the major player driving the global soundbar market.
As per this study the Global Soundbar Market was valued USD 2,840.5 MN (by revenue) in 2017 and is anticipated to reach USD 5,709.5 MN by 2024 with a CAGR of 10.5%. By volume, the market was estimated at XX.X Thousand Units in 2017 and is expected to reach XX.X Thousand Units by 2024 with a CAGR of X.X%.
A soundbar can be defined as the slim unit, with a number of built-in speakers jacketed together in a single enclosure. It consists of a special loudspeaker that produces sound from the cabinet. A soundbar was designed to improve the sound quality of the audio tracks without loads of wires. In order to modify its functionality, some manufacturers are producing its hybrid versions, where the functions of both, soundbar and stereo systems, are merged together in one device. Such soundbar represents Left, center, and right speakers, along with subwoofers, and rare-left and rear-right speakers.
The soundbar is widely used for enhancing the sound quality of audio tracks playing on TV sets, laptops or computers, mobile phones, and music players. The soundbar not only produces the 3D sound effects, but the use of latest technology makes it ideal for the production of even volume also. The technology has also resulted in the no or less wire concept, which ensures minimum one wire cord of the soundbar; and it looks forward to the easy connectivity with the built-in Bluetooth software or through the Wi-Fi.
Global soundbar market is primarily driven by strong demand from emerging market like China and Japan owing to the reduced in the cost of raw material associated to the soundbar. Another major factor such as advancing technologies and increasing disposable income to lift the expansion of the industry is also likely to provide enormous growth to the market. Moreover, emerging technology and trends are likely to provide numerous opportunities in untapped emerging economies. Also, the increases in events and parties in various industries such as corporate, sports, film industry, and others are expected to drive the demand soundbar in near future. Furthermore, computer systems and television are also important accessories of global soundbar market that is expected to grow within the forecast period. However, However, inbuilt speakers in TV sets has remained one of the most important restraints for soundbar industry.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis, and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of soundbar.
The broad soundbar market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By End-User Market Share 2017
- Version 2
- Version 2.1
- Version 5.1
- Other Version
- Music Players
- TV Sets
- Computer System
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for soundbar in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Soundbar Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the soundbar market includes Bose Corporation, Harman International Industries, Incorporated, Philips Electronics, LG Electronics Inc., Panasonic Corporation, Polk Audio, Samsung Electronics Co., Ltd, Sharp Electronics Corporation, Sony Electronic Inc., Vizio Inc. and Yamaha Corporation. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
Major Company Players Market Share
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.
2. EXECUTIVE SUMMARY
- Introduction To Soundbar
- Report Description
- Objectives Of The Study
- Research Scope
- Research Methodology
3. MARKET ANALYSIS
- Market Highlight
- Global Soundbar Market: Snapshot
4. SOUNDBAR MARKET ANALYSIS BY TYPE
- Porter’s Five Forces Analysis
- Value Chain Analysis
5. SOUNDBAR MARKET ANALYSIS BY APPLICATION
- Market In Version 2
- Market In Version 2.1
- Market In Version 5.1
- Market In Other Version
6. SOUNDBAR MARKET ANALYSIS BY GEOGRAPHY
- Market In Music Players
- Market In TV Sets
- Market In Computer System
- Market In Others
7. COMPETITIVE LANDSCAPE OF THE SOUNDBAR COMPANIES
- North America (NA)
- North America Market Estimates
- North America Market Estimates By Country
- United States (U.S.) Market Estimates By Segments
- Canada Market Estimates By Segments
- Mexico Market Estimates By Segments
- Europe (EU)
- Europe Market Estimates
- Europe Market Estimates By Country
- United Kingdom (UK) Market Estimates By Segments
- Germany Market Estimates By Segments
- France Market Estimates By Segments
- Rest Of Europe Market Estimates By Segments
- Asia Pacific (APAC)
- Asia Pacific Market Estimates
- Asia Pacific Market Estimates By Country
- China Market Estimates By Segments
- Japan Market Estimates By Segments
- India Market Estimates By Segments
- Rest Of Asia Pacific Market Estimates By Segments
- Latin America (LA)
- Latin America Market Estimates
- Latin America Market Estimates By Country
- Brazil Market Estimates By Segments
- Rest Of Latin America Market Estimates By Segments
- Middle East And Africa (MEA)
- Middle East And Africa Market Estimates
- Middle East And Africa Market Estimates By Country
- Middle East Market Estimates By Segments
- Africa Market Estimates By Segments
8. COMPANY PROFILES OF THE SOUNDBAR INDUSTRY (Company Overview, Financial, Major Products & Recent Development)
- Market Competition
- Mergers And Acquisitions
- New Product Launches
- Other Developments
* Tentative TOC
LIST OF TABLES
- Bose Corporation
- Harman International Industries, Incorporated
- Philips Electronics
- LG Electronics Inc.
- Panasonic Corporation
- Polk Audio
- Samsung Electronics Co., Ltd
- Sharp Electronics Corporation
- Sony Electronic Inc.
- Vizio Inc.
- Yamaha Corporation
Table 1. Market Highlights Of Soundbar
Table 2. Global Soundbar Market By Types
Table 3. Global Soundbar Market By Application
Table 4. Global Soundbar Market By Geography
Table 5. North America Soundbar Market
Table 6. Europe Soundbar Market
Table 7. Asia Pacific Soundbar Market
Table 8. Latin America Soundbar Market
Table 9. Middle East And Africa Soundbar Market
Table 10. Partnership/Collaboration/Agreements
Table 11. Mergers And Acquisitions
Table 12. New Product Development
Table 13. Other Developments
LIST OF FIGURES
Fig. 1. Market Segmentation Of Soundbar Market
Fig. 2. Top-Down Approach
Fig. 3. Bottom-Up Approach
Fig. 4. Market Highlights Of Soundbar
Fig. 5. Value Chain Analysis
Fig. 6. Porter’s Five Forces Analysis
Fig. 7. Global Soundbar Market By Types
Fig. 8. Global Soundbar Market By Application
Fig. 9. Global Soundbar Market By Geography
Fig. 10. North America Soundbar Market
Fig. 11. Europe Soundbar Market
Fig. 12. Asia Pacific Soundbar Market
Fig. 13. Latin America Soundbar Market
Fig. 14. Middle East And Africa Soundbar Market
Fig. 15. Market Share Of Soundbar Companies
Fig. 16. Recent Developments In Soundbar Industry
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.