Sound Bar Market to Reach Valuation of USD 6,429.0 Million by 2028 - the ability to integrate with Voice Assistants, Stream Audio Content Wirelessly, and Improve the Experience of Consumers are the factors driving the Market Growth
In terms of revenue, the Global Sound Bar Market is probable to reach USD 6,429.0 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 3.2% from 2022 to 2028.
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.
Key Highlights from the Report:
- The active Sound Bar sub-segment is anticipated to grow at a substantial CAGR. The active Sound Bar is nearby to self-reliant 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 a 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 sub-segment holds a substantial market share in 2021. 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 music on-demand.
- Asia Pacific is the fastest regional segment. The growth of Asia Pacific is majorly attributed to the presence of a large consumer base in the 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.
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.
In addition, 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
North America is the largest market. 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 Sound Bar is segmented as follows:
Browse market data Tables and Figures
Pages and in-depth TOC on "Sound Bar Market Size, Share & Trends Analysis Report 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) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)"
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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