Press release
Soundbars Market to Reach $7.19 Billion by 2029, Driven by Surging Media Streaming and Smart Home Trends
Soundbars Market
The report provides an in-depth analysis of the global soundbars market, covering market dynamics, segmentation, regional landscape, and competitive scenario. It aims to offer a comprehensive overview to industry stakeholders.
Robust research methodologies, including PORTER and PESTEL analysis, have been employed to understand the market's micro-economic factors and their potential impact.
Market Values:
The Global Soundbars Market size was valued at US$ 3.81 Billion in 2022, and the total revenue is expected to grow at a CAGR of 9.5% from 2023 to 2029, reaching nearly US$ 7.19 Billion.
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Market Drivers
Rising popularity of subscription-based media platforms like Netflix and Amazon Prime
Rapid digitization and increasing usage of smart devices like smartphones and smart TVs
Technological advancements in 4K and 8K television technologies
Integration with voice assistants like Alexa and Google Assistant for wireless content streaming
Improving consumer living standards and demand for high-end consumer technology
Market Restraints
Regulatory restrictions on the use of radiofrequency range by wireless sound systems
Potential health risks associated with long-term usage of audio devices
Key Segments
By Installation Method: Active soundbar systems with built-in amplifiers accounted for higher demand
By Connectivity: Bluetooth segment dominated with over 45% revenue share in 2022
By Application: Commercial applications driving demand for advanced volume controls and durability
Regional Insights
North America dominates the market, driven by adoption of media platforms and smart devices
Asia-Pacific region expected to grow at a CAGR of 10.7% between 2023 and 2029, led by China
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What is Soundbars Market Segmentation:
by Type
• Wall-Mounted
• Tabletop
• Others
by Application
•Home Audio
• Commercial
• Others
Through Application Soundbars are used in several commercial applications to improve audio clarity. Commercial-grade soundbars come with sophisticated volume controls that give precise control over output levels. Better materials are used in the construction of commercial soundbars, which increases their durability and ease of cleaning and maintenance.
by Installation Method
• Active Soundbar
• Passive Soundbar
• Others
by Connectivity
• Wi-Fi
• Bluetooth
• Others
In terms of connectivity, the BlueTooth category generated almost 45% of total revenue in 2022. There are several distinct benefits to using Bluetooth speakers. They don't require any additional connections or attachments to function because they connect wirelessly to your tablet, smartphone, and other devices. The majority are perfect for transporting to the park, beach, or any other location where a group of people wants to listen to music together because they are lightweight and portable.
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Who are Soundbars Market Key Players:
• Samsung Group
• Sony Corporation of America
• Q Acoustics
• Koninklijke Philips N.V.
• Sonos, Inc.
• Sound United, LLC.
• FOCAL JMLAB
• Bose Corporation
• Polk Audio
• LG Electronics
• Yamaha Corporation
• VIZIO, Inc.
• MartinLogan, Ltd.
• ZVOX Audio
• Harman International Industries
• Pioneer Electronics (USA) Inc.
• Definitive Technology
• Pyle Audio
• Others
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Table of content for the Soundbars Market includes:
Global Soundbars Market: Research Methodology
Global Soundbars Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.Global Soundbars Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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