Soundbar Market Size, Share, Trend, Growth Analysis 2032

Soundbar Market Insights

Zion Market Research has published a report on the global Soundbar Market, estimating its value at USD 8.14 Billion in 2023, with projections indicating that it will reach USD 16.64 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 8.26% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Soundbar Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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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.

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 is a pointy fall in revenues of the sound bar market. Given the importance to all of 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 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 experiencing 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.

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 provide a hands-free, improved viewing & audio experience. Consumers prefer 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.

A soundbar is a slender unit with frequent built-in speakers. It encompasses a special loudspeaker enclosure that produces sound from a single cabinet. The soundbar is designed to improve the sound quality without using loads of wires. Its condensed structure reduces the use of external wiring. Several manufacturers produce hybrid soundbars, in which the soundbar represents left, center, and right speakers along with the subwoofer, rear-left, and rear-right speakers.

The major driving factor for the global soundbar market is rapidly expanding the market in emerging countries as well as the promotion of flat-panel TVs, and consideration of the layout of the interior space. National policies to promote the development of the industry are likely to fuel the demand for soundbars over the years to come. However, more and more companies are entering this field, and enterprise profits will be diluted which can slow down the growth of the global soundbar market. Nonetheless, advancing technologies and trends are likely to open new doors for this industry in the coming years.

Soundbar Market: Report Scope

Soundbar Market: Segmentation Analysis

Segmentation Analysis by Product 

Versions 2, 2.1, 5.1, and others are the major product types of the global soundbar market.

In 2023, 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 delivering excellent audio performance with a wireless subwoofer and optional center channel for those seeking a powerful entertainment upgrade to their movie and music experience.

Segmentation Analysis by Application 

The global soundbar market includes music players, television sets, computer systems, and other applications.

Music players were the major segments that contributed significant shares of the total market in 2023 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 shortly. However, television and computer systems are also important outlets of the global soundbar market that are expected to grow within the forecast period.

Soundbar Market: Regional Analysis  

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 at around 35% shares of the global market. In addition, the Asia Pacific and Europe regions follow North America share by slight differences.

Asia-Pacific is the fastest-growing market for soundbars. China exhibits a significant share in 2023  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.

Request Free SampleNorth America held the leading market for the soundbar in 2023. It accounted for around 35.0% shares of the entire market of the soundbar and it is expected to continue the dominance over the coming years. North America was followed by Asia-Pacific and Europe. Moreover, Asia Pacific is expected to be the fastest-growing market for the soundbar. In terms of volume consumption, China was one of the largest markets in 2023. Further, it is expected to continue this trend in future years owing to the advanced development and the rapid decline in prices. Furthermore, Latin America and the Middle East & Africa are expected to have significant growth over the years to come.

Soundbar Market: Competitive Analysis

Some of the major players in the global Soundbar market include:

• Samsung
• Vizio
• Yamaha
• Sony
• LG
• Philips
• Panasonic
• Sharp
• Bose
• Polk Audio
• Harman
• JVC

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