NEW YORK, Aug. 19, 2021 /PRNewswire/ -- Technavio has been monitoring the soundbar market, operating in the communication services industry. The latest report on the soundbar market, 2021-2025 estimates it to register an incremental growth of USD 2.07 billion, at a CAGR of almost 8% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. 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 among some of the major market participants.
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An increase in the number of smart homes, wireless streaming of audio content, and increasing innovations in technology are some of the factors that have been instrumental in driving the growth of the market. In addition, the increase in multi-room streaming, the advent of cloud services, increased use of e-commerce platforms, and product bundling are some other factors anticipated to influence the market's growth positively in the long run. However, the presence of counterfeit products and growing competition from Bluetooth speakers might hamper the market growth.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Soundbar Market 2021-2025: Segmentation
Soundbar Market is segmented as below:
Based on geographic segmentation, over 36% of the market's originated from North America during the forecast period. In addition, music players segment led the largest market share in terms of application of the soundbar market. This report provides an accurate prediction of the contribution of all the segments to the growth of the soundbar market size.
Soundbar Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The soundbar market report covers the following areas:
Soundbar Market Size
Soundbar Market Trends
Soundbar Market Industry Analysis
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Soundbar Market 2021-2025: Key Highlights
CAGR of the market during the forecast period 2021-2025
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:
Value chain analysis
Market segment analysis
Market size 2020
Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
Five forces summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market Segmentation by Application
Comparison by Application
Music players - Market size and forecast 2020-2025
TV sets - Market size and forecast 2020-2025
Computers - Market size and forecast 2020-2025
Market opportunity by Application
North America - Market size and forecast 2020-2025
Europe - Market size and forecast 2020-2025
APAC - Market size and forecast 2020-2025
South America - Market size and forecast 2020-2025
MEA - Market size and forecast 2020-2025
Key leading countries
Market opportunity by geography
Market positioning of vendors
2 Expect LLC
Altec Lansing Inc.
B & W Group Ltd.
Koninklijke Philips NV
LG Electronics Inc.
Samsung Electronics Co. Ltd.
Scope of the report
Currency conversion rates for US$
List of abbreviations
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