Soundbars Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Soundbars Market was valued at USD 6.9 billion in 2023 and will grow at an 8.7% CAGR between 2024 and 2032, attributed to the growing demand for home entertainment systems and the rising adoption of streaming services. As consumers seek to enhance their home theater experiences, soundbars offer a convenient and effective solution for superior audio quality. The increasing popularity of streaming platforms and smart TVs amplifies the need for high-performance soundbars that can deliver immersive sound. This trend drives market growth as more consumers invest in soundbars to complement their entertainment setups and elevate their audio experiences.

The soundbars industry is segregated based on connectivity, price range, product type, size, installation, application, speaker wattage, distribution channel, and region.

The 5-channel soundbar segment garnered USD 2.4 billion in 2023 and will continue growing in the coming years. A 5-channel soundbar features five distinct audio channels that provide an immersive and detailed sound experience. This configuration features a center channel for clear dialogue, left and right front channels for music and sound effects, and left and right rear channels for surround sound, delivering a cinematic audio experience akin to a home theater system. Designed for richer, fuller sound and enhanced surround effects, the 5-channel soundbar is favored by those looking to elevate their home entertainment with superior depth and clarity.

The Bluetooth segment held a 35.5% share in 2023 and will grow at a 9% CAGR through 2032, primarily due to its convenience in connecting soundbars to various devices such as smartphones, tablets, and laptops without the need for cables. The wireless nature of Bluetooth allows users to easily stream music, movies, and other audio directly to their soundbars. The growing popularity of Bluetooth soundbars is driven by their user-friendly design and the increasing desire for a clutter-free home entertainment setup. As consumers increasingly seek flexible and straightforward audio solutions, Bluetooth-enabled soundbars are becoming more favored for their ease of use and convenience.

North America soundbars market was valued at approximately USD 2.2 billion in 2023 and continues to grow steadily as more consumers seek to enhance their home entertainment systems. Soundbars are increasingly popular in this region due to their ability to deliver high-quality audio in a compact design ideal for modern living spaces. The surge in streaming services and high-definition TVs also drives demand for soundbars that can complement advanced visuals with superior sound. Additionally, North American companies are incorporating smart features like voice control and wireless connectivity to appeal to tech-savvy consumers. This blend of technological innovation and a strong interest in home entertainment is driving market growth in North America.

Product Code: 4638

Chapter 1 Methodology and Scope

1.1 Market scope and definitions
1.2 Base estimates and calculations
1.3 Forecast calculations
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021-2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
3.2 Technological overview
3.3 Key news and initiatives
3.4 Regulatory landscape
3.5 Impact forces
- 3.5.1 Growth drivers
  - 3.5.1.1 Increasing demand for home entertainment systems
  - 3.5.1.2 Technological advancements and integration of smart features
  - 3.5.1.3 Growing adoption of flat panel TVs
- 3.5.2 Industry pitfalls and challenges
  - 3.5.2.1 Intense competition and price sensitivity
  - 3.5.2.2 Dependence on tv sales and market saturation
3.6 Growth potential analysis
3.7 Pricing analysis
3.8 Consumer buying behaviour Analysis
3.9 Porter's analysis
3.10 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Soundbars Market Estimates and Forecast, By Product Type, 2021-2032 (USD Billion) (Million Units)

5.1 Key trends
5.2 2 channel sound bars
5.3 3 channel sound bars
5.4 5 channel sound bars
5.5 7 channel sound bars

Chapter 6 Soundbars Market Estimates and Forecast, By Connectivity, 2021-2032 (USD Billion) (Million Units)

6.1 Key trends
6.2 Bluetooth
6.3 Auxiliary
6.4 Wi-fi
6.5 Others (HDMI, optical, etc.)

Chapter 7 Soundbars Market Estimates and Forecast, By Installation Type, 2021-2032 (USD Billion) (Million Units)

7.1 Key trends
7.2 Wall mounted
7.3 Tabletop
7.4 Free standing

Chapter 8 Soundbars Market Estimates and Forecast, By Speaker Wattage, 2021-2032 (USD Billion) (Million Units)

8.1 Key trends
8.2 Up to 99 watts
8.3 100-199 watts
8.4 200-499 watts
8.5 500-799 watts
8.6 Above 800 watts

Chapter 9 Soundbars Market Estimates and Forecast, By Price Range, 2021-2032 (USD Billion) (Million Units)

9.1 Key trends
9.2 Low
9.3 Medium
9.4 High

Chapter 10 Soundbars Market Estimates and Forecast, By Size, 2021-2032 (USD Billion) (Million Units)

10.1 Key trends
10.2 Under 30 inches
10.3 30-60 inches
10.4 Above 60 inches

Chapter 11 Soundbars Market Estimates and Forecast, By Application, 2021-2032 (USD Billion) (Million Units)

11.1 Key trends
11.2 Residential
11.3 Commercial

Chapter 12 Soundbars Market Estimates and Forecast, By Distribution Channel, 2021-2032 (USD Billion) (Million Units)

12.1 Key trends
12.2 Online
- 12.2.1 E-commerce
- 12.2.2 Company websites
12.3 Offline
- 12.3.1 Hypermarkets/Supermarkets
- 12.3.2 Specialty Stores
- 12.3.3 Other retail stores

Chapter 13 Soundbars Market Estimates and Forecast, By Region, 2021-2032 (USD Billion) (Million Units)

13.1 Key trends
13.2 North America
- 13.2.1 U.S.
- 13.2.2 Canada
13.3 Europe
- 13.3.1 UK
- 13.3.2 Germany
- 13.3.3 France
- 13.3.4 Italy
- 13.3.5 Spain
- 13.3.6 Russia
- 13.3.7 Rest of Europe
13.4 Asia Pacific
- 13.4.1 China
- 13.4.2 India
- 13.4.3 Japan
- 13.4.4 South Korea
- 13.4.5 Australia
- 13.4.6 Rest of Asia Pacific
13.5 Latin America
- 13.5.1 Brazil
- 13.5.2 Mexico
- 13.5.3 Rest of Latin America
13.6 MEA
- 13.6.1 South Africa
- 13.6.2 Saudi Arabia
- 13.6.3 UAE
- 13.6.4 Rest of MEA

Chapter 14 Company Profiles

14.1 Bose Corporation
14.2 Bowers and Wilkins
14.3 Denon
14.4 Harman International (JBL)
14.5 Harman Kardon
14.6 Klipsch
14.7 LG Electronics Inc.
14.8 Onkyo
14.9 Pioneer Corporation
14.10 Polk Audio
14.11 Samsung Electronics Co., Ltd.
14.12 Sonos Inc.
14.13 Sony Corporation
14.14 TCL
14.15 VIZIO Inc.
14.16 Yamaha Corporation