Soundbar Market Size, Trends and Insights By Product (2, 2.1, 5.1, Others), By Application (Music Players, Television, Computer Systems, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030
|Fastest Growing Market:||Asia-Pacific|
- Bose Corporation
- Sony Corporation
- VIZIO Inc.
- laupunkt GmbH (Aurelius Group)
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In the ‘Custom Market Insights’ research report on the Global Soundbar Market, the market was valued at USD 5.1 billion in 2021 and is projected to account for around USD 9.8 billion by 2030. The estimated CAGR is approximately 8.5% between 2022 and 2030. The report further provides an overview of drivers, restraints, and opportunities present in the Soundbar market. Moreover, the report examines the global competitive analysis of the Soundbar market.
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The key purpose of the Global Soundbar Market report is to deliver industry investors, company leaders, private equity companies, and stakeholders comprehensive information facilitating them to make informed strategic decisions concerning the changes in the Soundbar market throughout the world.
Soundbar Market: Overview
Soundbar, also known as a speaker bar, is a wireless audio device. A Soundbar is a single or dual-speaker system that produces high-quality audio. It is used in conjunction with devices such as televisions, laptops, PCs, smartphones, music players, and so on. A two-piece Soundbar system includes a subwoofer. Soundbars are used in situations where freestanding speakers are not an option.
Various speakers are installed in a Soundbar cabinet to help produce a stereo effect, sound system, or both. It improves customer sound experience without the hassles of surround sound speakers, wiring, and other concerns for the entire family theatre. Furthermore, television manufacturers offer Soundbar that is designed to complement the look of the television with which they are paired.
Soundbar Market: COVID – 19 Impact Analysis
This is due to disruptions in their relevant manufacturing and supply-chain operations owing to preventive lockdowns and other restrictions levied by governing authorities worldwide. The same holds for the global Soundbar market.
Moreover, consumer demand has thereafter declined as customers are now more focused on mitigating non-essential expenses from their budgets as the general economic status of the majority of people has been severely impacted by this outbreak. These factors hampered the global Soundbar market. However, as respective governing authorities begin to lift these imposed restrictions, the global Soundbar market is expected to recover.
Soundbar Market: Growth Drivers
The growth in e-commerce supports the demand for Soundbar
The expansion of the e-commerce sector is anticipated to drive the Sound Bar Market over the coming years. This is due to increased mobile phone and internet penetration, as well as increased acceptance of digital payments and favorable demographics. Moreover, the surging adoption of technologically advanced products makes the e-commerce sector more accessible and efficient.
Most devices, including tablets and smartphones, as well as technologies including 3G, 4G, and Wi-Fi, as well as high-speed broadband connectivity, are assisting in boosting the number of online customers. Moreover, the majority of players have established themselves in the e-commerce market in a matter of years. Because of the increasing demand for digital commerce, innovative start-ups have emerged in all segments.
Increasing demand for OTT channels is influencing the demand for Soundbar
The growing popularity of subscription-based media OTT platforms in emerging markets, including Amazon Prime and Netflix, is driving the global Soundbar market. Moreover, rapid digitization, coupled with a rise in the use of smart gadgets like laptops, smart TVs, smartphones, and other smart devices, has increased the global demand for Soundbar.
Various technological advancements have also resulted in the introduction of newer and innovative 4K and 8K television technologies, boosting the market growth. Furthermore, the Soundbar’s robust internet connectivity, combined with its quick integration with voice assistants such as Google Assistant and Alexa, has enhanced the product’s ability to stream wireless content, enhancing the overall user experience.
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Soundbar Market: Segmentation Analysis
In our research scope, the Soundbar market is segmented into product and application. By product, the 2.1 version segment is expected to hold the dominant share in the market throughout 2022-2030. This growth can be due to its outstanding features, such as excellent audio performance, a wireless subwoofer, and an optional center channel for those looking for a robust entertainment improvement to their music or movie experience.
Based on application, music players contributed a significant share of the total market in 2021, and this trend is expected to continue throughout the forecast period. Increased event and party attendance in multiple industries, including corporate, film, sports, and others, are expected to drive demand for Soundbar in the near future. However, television and computer systems are significant outlets for the global Soundbar market, which is likely to expand during the forecast period.
|Feature of the Report||Details|
|Market Size in 2021||USD 5.1 Billion|
|Projected Market Size in 2030||USD 9.8 Billion|
|CAGR Growth Rate||8.5% CAGR|
|Prominent Players||Bose Corporation, Sony Corporation, VIZIO Inc., laupunkt GmbH (Aurelius Group), Sonos Inc., Edifier International Ltd, Xiaomi Corporation, Hisense Home Appliance Group Co. Ltd, Sennheiser Electronic GmbH & Co. KG, Boston Acoustics Inc., Koninklijke Philips NV, Panasonic Corporation, Voxx International Corporation, Onkyo Corporation, LG Electronics Inc., Samsung Electronics Co. Ltd, Polk Audio, and Others|
|Key Segment||By Product, Application, and Region|
|Report Coverage||Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America|
|Buying Options||Request tailored purchasing options to fulfil your requirements for research.|
- As per the analysis shared by our research analyst, the Soundbar market is estimated to grow annually at a CAGR of around 8.5% over the forecast period (2022-2030).
- In terms of revenue, the Soundbar market size was valued at around USD 5.1 billion in 2021 and is projected to reach USD 9.8 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on product segmentation, the 2.1version segment was predicted to hold the maximum market share in the year 2021.
- Based on application segmentation, the music players segment was the leading revenue-generating category in 2021.
- On the basis of geography, the Asia Pacific region was the leading revenue generator in 2021.
- July 2022:ViewSonic Corp. launched the ViewBoard 52 Series, which improves the classroom and learning experience through user-friendly designs and features. The Multimedia Sound Bar embedded in the exterior of this Edtech product is its key differentiator, delivering advanced audio.
- July 2022: boat unveiled a Bluetooth Soundbar with features, including built-in Alexa, EQ modes, 120W RMS, and Dual Far-field mics.
The Asia Pacific has led the global Soundbar market and is expected to maintain its dominance in the coming years. This region accounted for approximately 35% of the global market. Furthermore, the North America and Europe regions trail the Asia Pacific by minor differences.
Asia-Pacific has the fastest- CAGR in the Soundbar market. China has a significant market share in 2021 and is expected to remain so over the forecast period. Furthermore, the Middle East & Africa, and Latin America, are expected to grow significantly in the coming years.
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The Soundbar market is extremely competitive, with prominent players accounting for more than 55% of revenue share. Major industry participants are concentrating on new development strategies to fortify their product portfolios and boost their customer bases. Also, voice assistant integration with Soundbar systems is aiding market participants in expanding their client base and business recognition. Numerous manufacturers of audio equipment are also entering the industry.
An in-depth investment analysis has been performed, providing forecast and prevailing opportunities for the market participants. The market report focuses on significant characteristics of the market that comprise historic data, present market revenues, PEST analysis, technological investments, and competitive analysis in the related industry.
The global Soundbar market is segmented as follows:
- 2.1 Channel
- 5.1 Channel
- 7.1 Channel
- Others (3.1 and 4.1 Channel)
- Music Players
- Computer Systems
- Distribution Channel
- Installation Method
- Active Soundbar
- Passive Soundbar
On the basis of Geography
- The U.S.
- The UK
- Rest of Europe
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Rest of Latin America
Table of Contents
Chapter No. 1: Introduction
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. USP & Key Offerings
1.2. Key Benefits for Stakeholders
1.3. Target Audience
1.4. Report Scope
Chapter No. 2: Executive Summary
2.1. Key Findings
2.1.1. Top Investment Pockets
188.8.131.52. SoundbarMarket Attractiveness Analysis, By Type
184.108.40.206. SoundbarMarket Attractiveness Analysis, By Application
220.127.116.11. SoundbarMarket Attractiveness Analysis, By End Use Industry
18.104.22.168. SoundbarMarket Attractiveness Analysis, By Region
2.2. SoundbarMarket Snapshot
2.3. Global SoundbarMarket, 2022 – 2030 (USD Billion)
Chapter No. 3: COVID 19 Impact Analysis
3.1. Impact Assessment of COVID-19 Pandemic, By Region
3.1.1. North America: Impact of COVID-19 Pandemic
3.1.2. Europe: Impact of COVID-19 Pandemic
3.1.3. Asia Pacific: Impact of COVID-19 Pandemic
3.1.4. Latin America: Impact of COVID-19 Pandemic
3.1.5. The Middle-East and Africa: Impact of COVID-19 Pandemic
3.2. Quarterly Market Revenue by Region 2020 & 2021
3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
3.4. Post COVID-19 Market Revenue, By Region, 2020-2030 (USD Billion)
3.5. Short Term Dynamics
3.6. Long Term Dynamics
Chapter No. 4 : SoundbarMarket – By Type Segment Analysis
4.1. SoundbarMarket Overview, by Type Segment
4.1.1. SoundbarMarket Revenue Share, By Type, 2021 & 2030
4.2. Polyether Soundbar
4.3. Polyester Soundbar
Chapter No. 5 : SoundbarMarket – By Application Segment Analysis
5.1. SoundbarMarket Overview, by Application Segment
5.1.1. SoundbarMarket Revenue Share, By Application, 2021 & 2030
5.2. Flexible Polyurethane Foam
5.3. Rigid Polyurethane Foam
Chapter No. 6 : SoundbarMarket – By End Use Industry Segment Analysis
6.1. SoundbarMarket Overview, by End Use Segment
6.1.1. SoundbarMarket Revenue Share, By End Use Industry, 2021 & 2030
6.2. Carpet backing
6.6. Building & Construction
Chapter No. 7 : SoundbarMarket – Regional Analysis
7.1. SoundbarMarket Overview, by Region Segment
7.1.1. Global SoundbarMarket Revenue Share, By Region, 2021 & 2030
7.1.2. Global SoundbarMarket Revenue, By Region, 2022 – 2030 (USD Billion)
7.2. North America
7.2.1. North America SoundbarMarket Revenue, By Country, 2022 – 2030 (USD Billion)
7.2.2. North America SoundbarMarket Revenue, By Type, 2022 – 2030
7.2.3. North America SoundbarMarket Revenue, By Application, 2022 – 2030
7.2.4. North America SoundbarMarket Revenue, By End Use Industry, 2022 – 2030
7.2.5. U.S. SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.2.6. Canada SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.2.7. Mexico SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.3. Europe 50
7.3.1. Europe SoundbarMarket Revenue, By Country, 2022 – 2030 (USD Billion)
7.3.2. Europe SoundbarMarket Revenue, By Type, 2022 – 2030
7.3.3. Europe SoundbarMarket Revenue, By Application, 2022 – 2030
7.3.4. Europe SoundbarMarket Revenue, By End Use Industry, 2022 – 2030
7.3.5. Germany SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.3.6. France SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.3.7. U.K. SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.3.8. Italy SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.3.9. Spain SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.3.10. Rest of Europe SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.4. Asia Pacific 61
7.4.1. Asia Pacific SoundbarMarket Revenue, By Country, 2022 – 2030 (USD Billion)
7.4.2. Asia Pacific SoundbarMarket Revenue, By Type, 2022 – 2030
7.4.3. Asia Pacific SoundbarMarket Revenue, By Application, 2022 – 2030
7.4.4. Asia Pacific SoundbarMarket Revenue, By End Use Industry, 2022 – 2030
7.4.5. China SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.4.6. Japan SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.4.7. India SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.4.8. South Korea SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.4.9. South-East Asia SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.4.10. Rest of Asia Pacific SoundbarMarket Revenue, 2016 – 2030 (USD Billion) 71
7.5. Latin America
7.5.1. Latin America SoundbarMarket Revenue, By Country, 2022 – 2030 (USD Billion)
7.5.2. Latin America SoundbarMarket Revenue, By Type, 2022 – 2030
7.5.3. Latin America SoundbarMarket Revenue, By Application, 2022 – 2030
7.5.4. Latin America SoundbarMarket Revenue, By End Use Industry, 2022 – 2030
7.5.5. Brazil SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.5.6. Argentina SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.5.7. Rest of Latin America SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.6. The Middle-East and Africa
7.6.1. The Middle-East and Africa SoundbarMarket Revenue, By Country, 2022 – 2030 (USD Billion)
7.6.2. The Middle-East and Africa Soundbar Revenue, By Type, 2022 – 2030
7.6.3. The Middle-East and Africa SoundbarMarket Revenue, By Application, 2022 – 2030
7.6.4. The Middle-East and Africa SoundbarMarket Revenue, By End Use Industry, 2022 – 2030
7.6.5. GCC Countries SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.6.6. South Africa SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
7.6.7. Rest of Middle-East Africa SoundbarMarket Revenue, 2016 – 2030 (USD Billion)
Chapter No. 8 : SoundbarMarket – Industry Analysis
8.2. Market Drivers
8.2.1. Driving Factor 1 Analysis
8.2.2. Driving Factor 2 Analysis
8.3. Market Restraints
8.3.1. Restraining Factor Analysis
8.4. Market Opportunities
8.4.1. Market Opportunity Analysis
8.5. Porter’s Five Forces Analysis
8.6. PEST Analysis
8.7. Regulatory Landscape
8.8. Technology Landscape
8.9. Value Chain Analysis
Chapter No. 9 : Competitive Landscape
9.1. Company Market Share Analysis – 2021
9.1.1. Global SoundbarMarket: Company Market Share, 2021
9.2. Strategic Developments
9.2.1. Acquisitions & Mergers
9.2.2. New Product Launch
9.2.3. Regional Expansion
9.3. Company Strategic Developments – Heat Map Analysis
Chapter No. 10 : Company Profiles
10.1. BASF SE
10.1.1. Company Overview
10.1.2. Key Executives
10.1.3. Product Portfolio
10.1.4. Financial Overview
10.1.5. Operating Business Segments
10.1.6. Business Performance
10.1.7. Recent Developments
10.2. Covestro AG
10.3. Royal Dutch Shell Plc
10.4. The Dow Chemical Company
10.5. Mitsui Chemicals
10.6. Wanhua Chemicals Group
10.7. LANXESS AG
10.8. Huntsman Corporation
10.9. Stepan Company
10.10. Repsol SA
Chapter No. 11: Marketing Strategy Analysis
11.1. Marketing Channel
11.2. Direct Marketing
11.3. Indirect Marketing
11.4. Marketing Channel Development Trends
Chapter No. 12: Research Methodology
12.1. Research Methodology
12.2. Phase I – Secondary Research
12.3. Phase II – Data Modeling
12.3.1. Company Share Analysis Model
12.3.2. Revenue Based Modeling
12.4. Phase III – Primary Research
12.5. Research Limitations
List of Figures
Figures No 1 to 59
List of Tables
Tables No 1 to 49
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
|Perspective||Primary research||Secondary research|
Market Analysis Matrix
|Qualitative analysis||Quantitative analysis|
List of the prominent players in the global Soundbar market:
- Sennheiser Electronic GmbH & Co. KG
- Sony Corporation and Yamaha Corporation
- Harman International Industries
- Bose Corporation
- Sony Corporation
- VIZIO Inc.
- laupunkt GmbH (Aurelius Group)
- Sonos Inc.
- Edifier International Ltd
- Xiaomi Corporation
- Hisense Home Appliance Group Co. Ltd
- Sennheiser Electronic GmbH & Co. KG
- Boston Acoustics Inc.
- Koninklijke Philips NV
- Panasonic Corporation
- Voxx International Corporation
- Onkyo Corporation
- LG Electronics Inc.
- Samsung Electronics Co. Ltd
- Polk Audio
- Altec Lansing
“Asia Pacific” region will lead the global Soundbar market during the forecast period 2022 to 2030.
The expansion of the e-commerce sector is anticipated to drive the Sound Bar Market over the coming years. This is due to increased mobile phone and internet penetration, as well as increased acceptance of digital payments and favorable demographics.
The key players operating in the Soundbar market are Bose Corporation, Sony Corporation, VIZIO Inc., laupunkt GmbH (Aurelius Group), Sonos Inc., Edifier International Ltd, Xiaomi Corporation, Hisense Home Appliance Group Co. Ltd, Sennheiser Electronic GmbH & Co. KG, Boston Acoustics Inc., Koninklijke Philips NV, Panasonic Corporation, Voxx International Corporation, Onkyo Corporation, LG Electronics Inc., Samsung Electronics Co. Ltd, Polk Audio, and Others.
The global Soundbar market is expanding growth with a CAGR of approximately 8.5% during the forecast period (2022 to 2030).
The global Soundbar market size was valued at USD 5.1 billion in 2021 and it is projected to reach around USD 9.8 billion by 2030.