The global soundbar market size was US$ 5480.63 million in 2022. The global market size is forecast to reach US$ 7150.9 million by 2031, growing at a compound annual growth rate (CAGR) of 3% during the forecast period from 2023 to 2031.
A soundbar is a single cabinet loudspeaker that creates a stereo illusion. It is often referred to as a media bar or speaker bar. The major components of the device include stereo analog inputs and outputs, an infrared remote control, and a wireless connectivity option. In addition, it has audio processing features for equalizing the speaker output. It can be broadly divided into three categories, including soundbars with subwoofers, soundbars that are all-in-one, and cinematic soundbars. It provides tremendous audio quality and surround sound by taking up little room and doing away with several speakers and external wiring.
Market Driving Factors
Due to its capacity to broadcast music material wirelessly and enhance the user experience, as well as its potential to interface with voice assistants like Amazon, Google, and others, the soundbar market is expanding.
In the upcoming years, demand for soundbars will grow due to an increase in the number of smart homes that are equipped with networked communication devices, which will increase demand for home theater systems. One of the main drivers propelling the growth of the smart home devices market is the quickening pace of technical development, as well as rising internet penetration, the digital transformation of the broadcasting sector, and falling product prices.
As a result of several technical developments, new, cutting-edge products are now available, which is driving the market expansion throughout the upcoming years. For instance, in September 2023, Bose unveiled a new flagship soundbar that it promises will deliver all of the "big sound from a compact speaker" impact for which the company is known, as well as an entirely new Dialogue Mode inspired by artificial intelligence (AI) that will make sure you never miss a word during even the loudest action scenes.
The factors anticipated to constrain the growth of the market during the forecast period include growing health concerns and tightening limits on the use of the radio frequency spectrum.
Market Segmentation Insights
Based on the Installation Method
During the forecast period, the active Sound Bar segment is likely to increase at the highest growth rate. The active soundbar is nearly self-contained and houses speakers, volume control, digital signal processing, and amplifiers all in the same cabinet. Additionally, an active soundbar differs from a passive soundbar by having an amplifier, and it is advantageous because installing a full sound system with multiple speakers can be challenging in some homes, which is driving up demand for active soundbars throughout the forecast period.
Based on Application
During the projected period, the home sound system is anticipated to gain the highest market share. Soundbars have the capacity to generate a virtual sound depending on the size of the room, giving users a full audio experience. For home theater systems, soundbars serve as a small audio hub. They often have sound aid features that make it simple to play on-demand music.
Geographical Outlook
North America will account for the highest revenue share in the soundbar market during the forecast period. The expansion of the North American market is attributable to rising investments in adding new features to Sound Bars, growing digitization, and expanding OTT use, including Netflix and Amazon Prime. Additionally, the presence of significant key players in the area will be crucial to the expansion of the North America market during the projected period.
On the other hand, the Asia Pacific region will experience the fastest growth. The presence of a sizable customer base in Asia Pacific is largely responsible for the region's growth. Additionally, the market revenue growth in the Asia Pacific region is anticipated to be supported by the rising disposable income in emerging economies like China and India.
List of Prominent Players
Segmentation Outline
The global soundbar market segmentation focuses on Type, Installation Method, Connectivity, Application, and Region.
By Type
By Installation Method
By Connectivity
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL SOUNDBAR MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: SOUNDBAR MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL SOUNDBAR MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL SOUNDBAR MARKET, BY TYPE
5.1 OVERVIEW
5.2 WALL-MOUNTED
5.3 TABLETOP
5.4 OTHERS
6 GLOBAL SOUNDBAR MARKET, BY INSTALLATION METHOD
6.1 OVERVIEW
6.2 ACTIVE SOUNDBAR
6.3 PASSIVE SOUNDBAR
6.4 OTHERS
7 GLOBAL SOUNDBAR MARKET, BY CONNECTIVITY
7.1 OVERVIEW
7.2 WI-FI
7.3 BLUETOOTH
7.4 OTHERS
8 GLOBAL SOUNDBAR MARKET, BY APPLICATION
8.1 OVERVIEW
8.2 HOME AUDIO
8.3 COMMERCIAL
8.4 OTHERS
9 GLOBAL SOUNDBAR MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL SOUNDBAR MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 BOSE CORPORATION
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 EDIFIER
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 HARMAN INTERNATIONAL INDUSTRIES
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 LG ELECTRONICS
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 PANASONIC CORPORATION
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 POLK AUDIO
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 SAMSUNG
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8. SENNHEISER ELECTRONIC GMBH & CO. KG
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 SONY CORPORATION
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 YAMAHA CORPORATION
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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