Soundbar Market Share, Size, Analysis 2030

Soundbar Market

Soundbar Market Size By Type (2, 2.1, 5.1 And Other) For Music Players, TV Sets, Computer Systems And Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends And Forecast, 2020 – 2028

Category: Technology & Media Report Format : PDF Pages: 150 Report Code: ZMR-163 Published Date: Aug-2021 Status : Published
Market Size in 2020 Market Forecast in 2028 CAGR (in %) Base Year
USD 4459.5 Million USD 7871.5 Million 7% 2022

Global Soundbar Market Size

The Global Soundbar market size accounted for USD 4459.5 Million in 2020 and is expected to reach USD 7871.5 Million by 2028, growing at a CAGR of around 7% between 2021 and 2028. Increasing use of smart homes and linked devices, increased demand for high-quality audio systems, and developments in wireless audio technology all contribute to the market's expansion. Moreover, the surge in popularity of streaming services like Netflix, Amazon Prime, and Hulu, which offer high-quality audio content, is also anticipated to increase demand for soundbars.

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COVID-19 Impact Analysis  

The COVID-19 outbreak has hit many commercial platforms hard which could stall development in emerging markets. As a result, various industries have fallen sharply, which has prompted to chop capacity. Many are closed by governments to contain the spread of the virus. The result's a pointy fall in revenues of the sound bar market. Given the importance to all to the economic development of cities, countries, and regions, the broader impact of COVID-19 on the worldwide economy is enormous.

Soundbar Market Overview

The global soundbar market was mainly driven by strong demand from emerging markets like China and Japan owing to the decline in the cost of staples associated with the soundbar. Another major factor is that the advancing technologies and government policies to uphold the expansion of the industry. because of the rapid development of the downstream market, the soundbar industry is additionally during a substantial increase in upgrading technology. However, the structure i.e. size and width of the soundbar may require space enough space to be placed. This might limit the demand for the soundbar market. Furthermore, new technology and trends are likely to supply numerous opportunities in untapped emerging economies.

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Soundbar Market Growth Factors

New product launches and technological advancements are anticipated to possess a positive influence on regional demand. Advanced technologies, like Bluetooth, Wi-Fi, and voice assistant systems, integrated into the audio device help users in providing a hands-free, improved viewing & audio experience. Consumers are preferring high-quality audio experiences. The supply of high-speed internet is supporting the graceful streaming of audio & video content and propelling the soundbar market demand.

Thus, increasing demand from the consumer's side is the key factor pouring the expansion of this market. A soundbar also called a speaker bar, is a special speaker with multiple drivers, which is much wider than it is tall and is always put on a computer monitor or under a television or home theater screen. It can significantly improve the sound experience of consumers, without complex matters of surround sound speakers, wiring, etc. for the whole family theatre.

Soundbar Market Report Scope:  

Report Attributes Report Details
Report Name Soundbar Market Research Report
Market Size in 2020 USD 4459.5 Million
Market Forecast in 2028 USD 7871.5 Million
Compound Annual Growth Rate CAGR of 7%
Number of Pages 144
Forecast Units Value (USD Million), and Volume (Units)
Key Companies Covered Samsung, Vizio, Yamaha, Sony, LG, Philips, Panasonic, Sharp, Bose, Polk Audio, Harman, JVC
Segments Covered By Product, By Application and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)
Countries Covered North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
Base Year 2022
Historical Year 2018 - 2022
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Product Segment Analysis Preview  

Versions 2, 2.1, 5.1, and others are the major product types of the global soundbar market. In 2018, the soundbar market accounted for a 30% share of the 2.1 product type among other versions. However, 2.1 soundbar systems are expected to continue this trend in future years. This growth is attributed to the excellent characteristics it delivers excellent audio performance with a wireless subwoofer and optional center channel for those seeking a powerful entertainment upgrade to their movie and music experience.

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Application Segment Analysis Preview  

The global soundbar market includes music players, television sets, computer systems, and other applications. Music players were the major segments that contribute significant shares of the total market in 2018 and are further expected to continue this trend during the forecast period. The increase in events and parties in various industries such as corporate, sports, film industry, and others is expected to drive the demand for soundbars in near future. However, television and computer systems are also important outlets of the global soundbar market that is expected to grow within the forecast period.

Regional Analysis Preview  

Regionally, North America has been leading the worldwide Soundbar market and is anticipated to continue in the dominant position in the years to come. This region stood around 35% shares of the global market. In addition, the Asia Pacific and Europe region follow North America share by slight differences. Asia-Pacific is the fastest-growing market for soundbars. China exhibits a significant share in 2019 and is also expected to perpetual market within the forecast period. Moreover, Latin America and the Middle East & Africa are expected to have significant growth during the years to come.

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Key Market Players & Competitive Landscape

Detailed company profiles/players of industry leaders including Samsung, Vizio, Yamaha, Sony, LG, Philips, Panasonic, Sharp, Bose, Polk Audio, Harman, and JVC are included in the research.

The Global Soundbar Market is segmented as follows:

By Products

  • Version 2
  • Version 2.1
  • Version 5.1
  • Other Version

By Application

  • Music Players
  • TV Sets
  • Computer Systems
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

Free Analysis

FrequentlyAsked Questions

The global Soundbar Market was valued at USD 4459.5 Million in 2020.

The global Soundbar Market is expected to reach USD 7871.5 Million by 2028, growing at a CAGR of 7% between 2021 to 2028.

One of the major factors driving the soundbar market is the change in the consumption of media i.e. from offline to online.

North America is expected to remain the dominant region over the forecast period. North America followed by Asia-Pacific and Europe in terms of demand for Soundbar.

The research contains detailed profiles of major market participants/major companies, including Samsung, Vizio, Yamaha, Sony, LG, Philips, Panasonic, Sharp, Bose, Polk Audio, Harman, and JVC.

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