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

Publisher Global Market Insights
Published Dec 09, 2024
Length 161 Pages
SKU # GMI19463509

Description

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


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.

Table of Contents

161 Pages
Chapter 1 Methodology & Scope
1.1 Market Definitions
1.2 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.1.1 Country-regional level market size estimate (Bottom-Up Approach)
1.2.1 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
Chapter 2 Executive Summary
2.1 Global soundbars industry 360 degree synopsis, 2023 - 2032
2.2 Business trends
2.3 Product type trends
2.4 Connectivity trends
2.5 Installation type trends
2.6 Speaker wattage trends
2.7 Price range trends
2.8 Size trends
2.9 Application trends
2.10 Distribution channel trends
2.11 Region trends
Chapter 3 Global Soundbars Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factors affecting the value chain.
3.1.2 Profit margin analysis.
3.1.2.1 Factors Affecting Profit Margins:
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.2 Industry impact forces
3.2.1.1 Increasing demand for home entertainment systems
3.2.1.2 Technological advancements and integration of smart features
3.2.1.3 Growing adoption of flat panel TVs
3.2.2 Industry pitfalls & challenges
3.2.2.1 Intense competition and price sensitivity
3.2.2.2 Dependence on tv sales and market saturation
3.3 Growth potential analysis, 2023
3.4 Regulatory Landscape
3.4.1 U.S. 58
3.4.2 Europe
3.5 Future Market Trends
3.6 Pricing Analysis
3.6.1 North America
3.6.2 Europe
3.6.3 Asia Pacific
3.6.4 Latin America
3.6.5 Middle East & Africa
3.7 Technological Landscape
3.8 Consumer Buying Behavior Analysis
3.9 Porter's analysis
3.9.1 Supplier power
3.9.2 Buyer power
3.9.3 Threat of new entrants
3.9.4 Threat of substitutes
3.9.5 Industry rivalry
3.10 PESTEL analysis
Chapter 4 Competitive Landscape
4.1 Introduction
4.2 Global company market share analysis, 2023
4.3 Competitive analysis of major market players
4.4 Competitive positioning matrix
4.5 Strategic outlook matrix
Chapter 5 Global soundbars market, by product type
5.1 Key product type trends
Chapter 6 Global soundbars market, by connectivity
6.1 Key connectivity trends
Chapter 7 Global soundbars market, by installation type
7.1 Key installation type trends
Chapter 8 Global soundbars market, by speaker wattage
8.1 Key speaker wattage trends
Chapter 9 Global soundbars market, by price range
9.1 Key price range trends
Chapter 10 Global soundbars market, by size
10.1 Key size trends
Chapter 11 Global soundbars market, by application
11.1 Key application trends
Chapter 12 Global soundbars market, by distribution channel
12.1 Key distribution channel trends
Chapter 13 Global soundbars market, by region
13.1 Key region trends
13.2 North America
13.3 Europe
13.4 Asia Pacific
13.5 LATAM
13.6 MEA
Chapter 14 Company Profiles
14.1 Bose Corporation
14.1.1 Global overview
14.1.2 Market/Business Overview
14.1.3 Financial data
14.1.3.1 Product Landscape
14.1.4 Strategic Outlook
14.1.5 SWOT analysis
14.2 Bowers & Wilkins Group Ltd.
14.2.1 Global overview
14.2.2 Market/Business Overview
14.2.3 Financial data
14.2.4 Product Landscape
14.2.5 Strategic Outlook
14.2.6 SWOT analysis
14.3 Klipsch Group Inc
14.3.1 Global overview
14.3.2 Market/Business Overview
14.3.3 Financial data
14.3.4 Product Landscape
14.3.5 Strategic Outlook
14.3.6 SWOT analysis
14.4 LG Electronics Inc.
14.4.1 Global overview
14.4.2 Market/Business overview
14.4.3 Financial data
14.4.4 Product landscape
14.4.5 Strategic Outlook
14.4.6 SWOT analysis
14.5 Pioneer Corporation
14.5.1 Global overview
14.5.2 Market/Business overview
14.5.3 Financial data
14.5.4 Product Landscape
14.5.5 Strategic outlook
14.5.6 SWOT analysis
14.6 Polk Audio
14.6.1 Global overview
14.6.2 Market/Business Overview
14.6.3 Financial Data
14.6.4 Product Landscape
14.6.5 Strategic Outlook
14.6.6 SWOT analysis
14.7 Samsung Electronics Co, Ltd.
14.7.1 Global overview
14.7.2 Market/Business overview
14.7.3 Financial data
14.7.4 Product landscape
14.7.5 Strategic outlook
14.7.6 SWOT analysis
14.8 Sonos Inc
14.8.1 Global overview
14.8.2 Market/Business overview
14.8.3 Financial data
14.8.4 Product landscape
14.8.5 Strategic outlook
14.8.6 SWOT analysis
14.9 Sony Corporation
14.9.1 Global overview
14.9.2 Market/Business overview
14.9.3 Financial data
14.9.4 Product landscape
14.9.5 Strategic outlook
14.9.6 SWOT analysis
14.10 TCL Technology Group Corporation
14.10.1 Global overview
14.10.2 Market/Business overview
14.10.3 Financial data
14.10.4 Product landscape
14.10.5 Strategic outlook
14.10.6 SWOT analysis
14.11 VIZIO Inc.
14.11.1 Global overview
14.11.2 Market/Business overview
14.11.3 Financial data
14.11.4 Product landscape
14.11.5 Strategic outlook
14.11.6 SWOT analysis
14.12 Yamaha Corporation
14.12.1 Global overview
14.12.2 Market/Business overview
14.12.3 Financial data
14.12.4 Product Landscape
14.12.5 Strategic outlook
14.12.6 SWOT analysis
14.13 Sennheiser Electronic GmbH & Co. KGs
14.13.1 Global overview
14.13.2 Market/Business overview
14.13.3 Financial data
14.13.4 Product landscape
14.13.5 Strategic outlook
14.13.6 SWOT analysis
14.14 Koninklijke Philips N.V.
14.14.1 Global overview
14.14.2 Market/Business overview
14.14.3 Financial data
14.14.4 Product landscape
14.14.5 Strategic outlook
14.14.6 SWOT analysis
14.15 Panasonic Corporation
14.15.1 Global overview
14.15.2 Market/Business overview
14.15.3 Financial data
14.15.4 Product landscape
14.15.5 Strategic outlook
14.15.6 SWOT analysis
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Chapter 1 Research Methodology
1.1.1 Research approach
1.1.2 Data collection methods
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.4.1 Primary sources
1.4.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 360° synopsis, 2021-2034
2.2 Business trends
2.3 Regional trends
2.4 Capacity trends
2.5 End Use trends
2.6 Application trends
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Regulatory landscape
3.2.1 North America
3.2.1.1 U.S.
3.2.1.1.1 Fuel Cell and Hydrogen Energy Association (FCHEA)
3.2.1.1.1.1 Safety, Codes, and Standards
3.2.1.1.2 Clean Air Act (CCA)
3.2.1.1.3 Inflation Reduction Act 2022 (IRA)
3.2.1.1.4 CSA Fuel Cell Standards
3.2.1.1.5 SAE Fuel Cell Vehicle Safety Committee (automotive) enabling standards
3.2.1.1.6 NFPA 2: Hydrogen Technologies Code
3.2.1.1.7 Overview of Regulations, Codes, and Standards Related to Hydrogen Infrastructure Safety
3.2.1.1.8 Renewable Portfolio Standards (RPS)
3.2.1.2 Canada
3.2.1.2.1 Hydrogen strategy for Canada
3.2.1.2.3 CAN/BNQ 1784-000 National Standards of Canadian Hydrogen Installation Code
3.2.1.2.4 Canadian Standards Association (CSA)
3.2.2 Europe
3.2.2.1 Investments: Government and Collaborative Hydrogen and Fuel Cell Funding
3.2.2.2 European stationary fuel cell codes and standards
3.2.2.3 France
3.2.2.4 Spain
3.2.2.5 Germany
3.2.2.5.1 KfW433 program
3.2.2.6 UK
3.2.3 Asia Pacific
3.2.3.1 Japan
3.2.3.1.1 Investments: Government and Collaborative Hydrogen and Fuel Cell Funding
3.2.3.1.2 Japanese Industrial Standards
3.2.3.1.3 Government Targets
3.2.3.2 South Korea
3.2.3.2.1 KS C IEC 62282-3-100 Standard
3.2.3.2.2 Renewable Portfolio Standard (RPS)
3.2.3.2.3 Government Targets
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.1.1 Initiatives toward developing a hydrogen economy
3.3.1.2 Growing demand for small capacity stationary systems
3.3.1.3 Environment-friendly and a better alternative than existing options
3.3.1.3.1 More efficient than batteries
3.3.2 Industry pitfalls & challenges
3.3.2.1 Lack of infrastructure
3.4 Growth potential analysis
3.5 Porter's analysis
3.5.1 Bargaining power of suppliers
3.5.2 Bargaining power of buyers
3.5.3 Threat of new entrants
3.5.4 Threat of substitutes
3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2024
4.1 Introduction
4.2 Strategic dashboard
4.2.1 Doosan Fuel Cell Co., Ltd.
4.2.1.1 Collaboration
4.2.1.2 Memorandum of Understanding
4.2.1.3 Installation/supply
4.2.2 Bloom Energy
4.2.2.1 Partnership
4.2.2.2 Agreement
4.2.2.3 Product installation
4.2.2.4 Installation/supply
4.2.2.5 Collaboration
4.2.3 SFC Energy AG
4.2.3.1 Acquisition
4.2.3.2 Supply order
4.2.3.3 Memorandum of Understanding
4.2.3.4 Product expansion
4.2.3.5 Business expansion
4.2.4 Plug Power Inc.
4.2.4.1 Certification
4.2.4.2 Installation/supply
4.2.4.3 Business expansion
4.2.4.4 Partnership
4.2.5 Mitochondria Energy
4.2.5.1 Business expansion
4.2.6 NUVERA FUEL CELLS, LLC.
4.2.6.1 Supply Order
4.2.6.2 Memorandum of Understanding (MoU)
4.2.6.3 Partnership
4.2.7 Ballard Power Systems
4.2.7.1 Installation/supply
4.2.7.2 Collaboration
4.2.7.3 Agreement
4.2.8 Honda Motor Co., Ltd
4.2.8.1 Collaboration
4.2.9 FuelCell Energy, Inc.
4.2.9.1 Agreement
4.2.10 AFC Energy
4.2.10.1 Facility plant
4.3 Innovation and technology landscape
4.3.1 Nissan Motor Co. Ltd
4.3.2 GenCell Ltd.
4.3.3 Cummins Inc.
4.3.4 SFC Energy AG
Chapter 5 Market, By Capacity
5.1 Key trends
5.2 10 kW - 50 kW
5.5 > 50 kW
Chapter 6 Market, By End Use
6.1 Key trends
6.2 Residential
6.3 Commercial
6.4 Industry/Utility
Chapter 7 Market, By Application
7.1 Key trends
7.2 Prime Power
7.3 CHP
7.4 Others
Chapter 8 Market, By Region
8.1 Key trends
8.2 North America
8.3 Europe
8.4 Asia Pacific
8.5 Middle East & Africa
8.6 Latin America
Chapter 9 Company Profiles
9.1 Cummins Inc.
9.1.1 Global overview
9.1.2 Market/Business overview
9.1.3 Financial data
9.1.4 Product landscape
9.1.5 Strategic outlook
9.1.6 SWOT analysis
9.2 Ballard Power Systems
9.2.1 Global overview
9.2.2 Market/Business overview
9.2.3 Financial data
9.2.4 Product landscape
9.2.5 Strategic outlook
9.2.6 SWOT analysis
9.3 Plug Power Inc.
9.3.1 Global overview
9.3.2 Market/Business overview
9.3.3 Financial data
9.3.4 Product landscape
9.3.5 Strategic outlook
9.3.6 SWOT analysis
9.4 NUVERA FUEL CELLS, LLC
9.4.1 Global overview
9.4.2 Market/Business overview
9.4.3 Financial data
9.4.4 Product landscape
9.4.5 Strategic outlook
9.4.6 SWOT analysis
9.5 Bloom Energy
9.5.1 Global overview
9.5.2 Market/Business overview
9.5.3 Financial data
9.5.4 Product landscape
9.5.5 Strategic outlook
9.5.6 SWOT analysis
9.6 Doosan Fuel Cell Co., Ltd.
9.6.1 Global overview
9.6.2 Market/Business overview
9.6.3 Financial data
9.6.4 Product landscape
9.6.5 Strategic outlook
9.6.6 SWOT analysis
9.7 Siemens Energy
9.7.1 Global overview
9.7.2 Market/Business overview
9.7.3 Financial data
9.7.4 Product landscape
9.7.5 SWOT analysis
9.8 Fuji Electric Co., Ltd.
9.8.1 Global overview
9.8.2 Market/Business overview
9.8.3 Financial data
9.8.4 Product landscape
9.8.5 SWOT analysis
9.9 FuelCell Energy, Inc.
9.9.1 Global overview
9.9.2 Market/Business overview
9.9.3 Financial data
9.9.4 Product landscape
9.9.5 Strategic outlook
9.9.6 SWOT analysis
9.10 Toshiba Corporation
9.10.1 Global overview
9.10.2 Market/business overview
9.10.3 Financial data
9.10.4 Product landscape
9.10.5 Strategic outlook
9.10.6 SWOT analysis
9.11 SFC Energy AG
9.11.1 Global overview
9.11.2 Market/Business overview
9.11.3 Financial data
9.11.4 Product landscape
9.11.5 Strategic outlook
9.11.6 SWOT analysis
9.12 Aris Renewable Energy, LLC
9.12.1 Global overview
9.12.2 Market/business overview
9.12.3 Financial data
9.12.4 Product landscape
9.12.5 SWOT analysis
9.13 Altergy
9.13.1 Global overview
9.13.2 Market/business overview
9.13.3 Financial data
9.13.4 Product landscape
9.13.5 SWOT analysis
9.14 AFC Energy
9.14.1 Global overview
9.14.2 Market/business overview
9.14.3 Financial data
9.14.4 Product landscape
9.14.5 Strategic outlook
9.14.6 SWOT analysis
9.15 GenCell Ltd.
9.15.1 Global overview
9.15.2 Market/business overview
9.15.3 Financial data
9.15.4 Product landscape
9.15.5 Strategic outlook
9.15.6 SWOT analysis
9.16 Poscoenergy
9.16.1 Global overview
9.16.2 Market/business overview
9.16.3 Financial data
9.16.4 Product landscape
9.16.5 Strategic outlook
9.16.6 SWOT analysis

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