Technavio has been monitoring the soundbar market and it is poised to grow by USD 5.05 billion during 2020-2024, progressing at a CAGR of over 15% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Soundbar Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions-
- What was the value of the soundbar market in 2019?
- Technavio says that the value of the market was USD 4.81 billion in 2019 and it is projected to reach USD 9.86 billion by 2024.
- At what rate is the market projected to grow during the forecast period 2020-2024?
- Growing at a CAGR of over 15%, the market growth will accelerate in the forecast period.
- What is the key factor driving the market?
- The increasing number of smart homes and the popularity of multi-room streaming are the key factors driving the market growth.
- Who are the top players in the market?
- 2 Expect LLC, Altec Lansing Inc., B & W Group Ltd., Bose Corp., Koninklijke Philips NV, LG Electronics Inc., Panasonic Corp., Samsung Electronics Co. Ltd., Sharp Corp., and Sony Corp. are some of the major market participants.
- Which region is expected to hold the highest market share?
- North America
The market is concentrated, and the degree of concentration will accelerate during the forecast period. 2 Expect LLC, Altec Lansing Inc., B & W Group Ltd., Bose Corp., Koninklijke Philips NV, LG Electronics Inc., Panasonic Corp., Samsung Electronics Co. Ltd., Sharp Corp., and Sony Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
An increasing number of smart homes has been instrumental in driving the growth of the market.
Soundbar Market 2020-2024: Segmentation
Soundbar Market is segmented as below:
- Music Players
- TV Sets
- North America
- South America
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Soundbar Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our soundbar market report covers the following areas:
- Soundbar Market size
- Soundbar Market trends
- Soundbar Market analysis
This study identifies the popularity of multi-room streaming as one of the prime reasons driving the soundbar market growth during the next few years.
Soundbar Market 2020-2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the soundbar market, including some of the vendors such as 2 Expect LLC, Altec Lansing Inc., B & W Group Ltd., Bose Corp., Koninklijke Philips NV, LG Electronics Inc., Panasonic Corp., Samsung Electronics Co. Ltd., Sharp Corp., and Sony Corp. Backed with competitive intelligence and benchmarking, our research reports on the soundbar market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Soundbar Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist soundbar market growth during the next five years
- Estimation of the soundbar market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the soundbar market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of soundbar market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher-priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendor Analysis
- Market positioning of vendors
- 2 Expect LLC
- Altec Lansing, Inc.
- B & W Group Ltd.
- Bose Corp.
- Koninklijke Philips NV
- LG Electronics Inc.
- Panasonic Corp.
- Samsung Electronics Co. Ltd.
- Sharp Corp.
- Sony Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.