Soundbar Market Share, Size and Developments with Industry Revenue, Top Players 2028

The global soundbar market size, and share were valued at $4,459.5 million in 2020 and are projected to reach $7,871.5 million by 2028, expanding at a CAGR of around 7% between 2021 and 2028. The use of smart homes and connected devices, the desire for high-quality audio systems, and advancements in wireless audio technology all contribute to the evolution of the market. Also, the rise in popularity of streaming services such as Netflix, Amazon Prime, and Hulu, which offer high-quality audio content, is expected to enhance demand for soundbars.

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Global Soundbar Market Key Players

Sony Corporation

VIZIO Inc.

Bose Corporation

laupunkt GmbH (Aurelius Group)

Sonos Inc.

Sennheiser Electronic GmbH & Co. KG

Boston Acoustics Inc.

Koninklijke Philips NV

Edifier International Ltd

Xiaomi Corporation

Hisense Home Appliance Group Co. Ltd

Panasonic Corporation

Voxx International Corporation

Polk Audio

Onkyo Corporation

LG Electronics Inc.

Samsung Electronics Co. Ltd

Segmentation Analysis

The Soundbar market is typically divided into many divisions. According to Zion Market Research, the on-demand delivery model sector will account for more than 76 percent of global sales in 2021.

The following are the primary components that are examined for potential growth:

Market, By Product

● Version 2

● Version 2.1

● Version 5.1

● Other Version

Market, By Application

● Music Players

● TV Sets

● Computer Systems

● Others

The global soundbars market size was primarily driven by robust demand from emerging markets such as China and Japan as a result of the falling price of soundbar components. Government policies and increasing technologies also contribute significantly to the expansion of the industry. Due to the increasing growth of the aftermarket, the soundbar sector is also experiencing a major surge in technological advancement. Yet, the size and width of the soundbar may necessitate adequate placement space. This could diminish the demand for soundbars. In addition, new technologies and trends are likely to present significant opportunities in emerging economies that have not yet been exploited.

Global Soundbar Market: Growth Drivers

It is anticipated that the introduction of new products and technical improvements will have a favourable impact on regional demand. Integrated advanced technologies, such as Bluetooth, Wi-Fi, and voice assistant systems, provide a hands-free, enhanced viewing and listening experience for the user. Customers increasingly prefer audio experiences of superior quality. The availability of high-speed internet facilitates the smooth streaming of audio and video content, hence driving market demand for soundbars.

Hence, increasing consumer demand is the driving force behind the expansion of this industry. A soundbar, often known as a speaker bar, is an unique speaker with many drivers that is significantly broader than it is tall and is always placed on a computer monitor or beneath a television or home theatre screen. It can considerably enhance the audio experience of consumers without requiring surround sound speakers, wiring, etc. for the entire home theatre.

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