Soundbar Market Size to Reach US$ 6.1 Billion by 2028, at a Growth Rate of (CAGR) 8.8% | IMARC Group

IMARC Group, a leading market research company, has recently releases report titled "Soundbar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global soundbar market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the soundbar market?

The global soundbar market size reached US$ 3.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.1 Billion by 2028, exhibiting a growth rate (CAGR) of 8.8% during 2023-2028.

What is soundbar market?

A soundbar, also called a media bar or speaker bar, represents a single cabinet loudspeaker that produces a stereo effect. It offers wireless connectivity, infrared remote control, stereo analog inputs and outputs, audio processing features for speaker equalization, etc. Soundbars can be broadly classified into three types, namely, all-in-one soundbars, soundbars with subwoofer, and cinematic soundbars. They deliver powerful audio quality and surround sound effects without using multiple speakers or external wiring, which is why they also take up minimal space. A soundbar can be connected to various electronic devices, such as televisions, smartphones, laptops, PCs, music players, etc. Consequently, media bars are widely utilized across the commercial, residential, and entertainment sectors.

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What are the growth prospects and trends in the soundbar industry?

The growing popularity of subscription-based media platforms, including Amazon Prime and Netflix, is among the primary factors driving the soundbar market. Moreover, the elevating digitalization levels and the escalating adoption of smart devices are further catalyzing the market growth. In addition to this, the introduction of new and innovative 4K and 8K television technologies is acting as another significant growth-inducing factor. Furthermore, the rising integration of these devices with several voice assistants, such as Alexa and Google Assistant, is augmenting the global market. Apart from this, the increasing requirement for compatible media and entertainment gadgets for producing strong and robust sounds with good bass responses is anticipated to bolster the soundbar market over the forecasted period.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

Wall-Mounted
Tabletop
Others

Breakup by Installation Method:

Active Soundbar
Passive Soundbar
Others

Breakup by Connectivity:

Wi-Fi
Bluetooth
Others

Breakup by Application:

Home Audio
Commercial
Others

Breakup by Geography:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Who are the key players operating in the industry?

The report covers the major market players including:

Bose Corporation
Edifier
Harman International Industries
Incorporated
LG Electronics
Panasonic Corporation
Polk Audio
Samsung
Sennheiser Electronic GmbH & Co. KG
Sony Corporation
Yamaha Corporation

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