According to the latest report by IMARC Group, titled “Soundbar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” 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.
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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Market Trends
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.
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List of Key Companies Covered in this Market Report:
- Bose Corporation
- Edifier
- Harman International Industries
- Incorporated
- LG Electronics
- Panasonic Corporation
- Polk Audio
- Samsung
- Sennheiser Electronic GmbH Co. KG
- Sony Corporation
- Yamaha Corporation
The report has segmented on the basis of type, installation method, connectivity, application and geography.
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
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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