Sound Bar Market
Sound Bar Market - Global Industry Assessment & Forecast
- By Type Wall-Mounted, Tabletop, Others
- By Installation Method Active Soundbar, Passive Soundbar, Others
- By Connectivity Wi-Fi, Bluetooth, Others
- By Application Home Audio, Commercial, Others
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 5,321.9 Million|
|Revenue 2028:||USD 6,429.0 Million|
|Revenue CAGR (2022 - 2028):||3.2%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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Global Sound Bar Market is valued at USD 5,321.9 Million in the year 2021 and is projected to reach a value of USD 6,429.0 Million by the year 2028. The market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 3.2% over the forecast period.
The Sound Bar Market is witnessing growth due to its ability to stream audio content wirelessly and improve the overall experience, and the ability to integrate with voice assistants like Amazon, Google, etc. is improving the consumer's experience and thus drives the growth of the Sound Bar Market in coming years. Moreover, the rise in the number of smart homes that are furnished with linked communication devices is boosting the demand for home theatre and thus drives the demand for the Sound Bar Market in the coming years. Furthermore, various technological advancements have led to the launch of advanced and innovative 4K and 8K television technologies that are fueling the growth of the Sound Bar Market during the forecast period. Moreover, the high internet connectivity along with the integration of Sound Bar with voice assistants like Google assistance and Alexa have advanced the product quality which is projected to boost the Sound Bar Market growth during the forecast period. Furthermore, the digital transformation in the music industry is also boosting the demand for entertainment gadgets like Sound Bars for generating strong sound with good quality bass. The rapid urbanization and globalization across emerging countries have increased the sales of electronic devices and increased the product launches that are fueling the growth of the Sound Bar Market during the forecast period. Whereas, the increase in the number of smart homes, technological advancements, and new product launches are projected to create a growth opportunity for the Sound Bar Market in upcoming years. The increasing restrictions on the utilization of the radio frequency spectrum, and growth in health concerns are the factors expected to limit the growth of the Sound Bar Market during the forecast period.
Sound Bar Market Size, 2021 To 2028 (USD Million)
The Sound Bar Market is segmented on the basis of type, installation method, connectivity, and application. On the basis of type, the market is segmented as Wall-Mounted, Tabletop, and others. On the basis of installation method, the market is segmented as Active Sound Bar, Passive Sound Bar, and others. On the basis of connectivity, the market is segmented as Wi-Fi, Bluetooth, and others. On the basis of application, the market is segmented as Home Audio, Commercial, and others.
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The active Sound Bar is expected to witness the fastest growth during the forecast period
Based on the installation method, the active Sound Bar segment is projected to experience the fastest growth during the forecast period. The active Sound Bar is close to self-contained and they hold amplifiers, digital signal processing, and volume control including speakers in the same cabinet. Moreover, the presence of an amplifier is what differentiates an active Sound Bar from the passive Sound Bar, and an active Sound Bar is advantageous as the setting of a full sound system with several speakers is almost impossible in certain homes which is increasing the demand for active Sound Bars during the forecast period.
The home sound system is projected to hold the largest market share during the forecast period
Based on the application, the home sound system is expected to acquire the largest market share during the forecast period. Based on the size of the room, Sound Bars include an ability to create a virtual sound that provides a rich sound experience for users. Sound Bars are actually a compact audio hub for home theater systems with many Sound Bars with sound assistance which makes it easy to play on-demand music.
North America is projected to acquire the largest market share during the forecast period
North America holds the largest revenue share in the Sound Bar Market during the forecast period. The growth of North America is attributed to increasing investments in incorporating new capabilities in a Sound Bar, increasing digitalization, and rising penetration of OTT like Amazon Prime and Netflix. Additionally, the presence of major key players in the region is predicted to play an important role in the growth of the Sound Bar Market in North America during the forecast period.
The Asia Pacific is predicted to be the fastest-growing region during the forecast period
The Asia Pacific region is expected to be the fastest-growing region during the forecast period. The growth of Asia Pacific is majorly attributed to the presence of a large consumer base in Asia Pacific. Moreover, the rising disposable income in emerging economies like China, and India are expected to support the market revenue growth in the Asia Pacific region during the forecast period.
The Sound Bar Market is highly fragmented in nature due to the presence of key players in the market. Some of the major key players in the market are Bose Corporation, Edifier, Harman International Industries, LG Electronics, Panasonic Corporation, Polk Audio, Samsung, Sennheiser Electronic GmbH & Co. KG, Sony Corporation, and Yamaha Corporation.
Segmentation of the Global Sound Bar Market:
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
The global Sound Bar valued at USD 5,321.9 Million in 2020 and is expected to reach USD 6,429.0 Million in 2028 growing at a CAGR of 3.2%.
The prominent players in the market are Bose Corporation, Edifier, Harman International Industries, LG Electronics, Panasonic Corporation, Polk Audio, Samsung, Sennheiser Electronic GmbH & Co. KG, Sony Corporation and Yamaha Corporation.
The market is project to grow at a CAGR of 3.2% between 2021 and 2028.
The driving factors of the Sound Bar include
- Growing demand for OTT (over the top) on-demand media platforms
North America was the leading regional segment of the Sound Bar in 2020.