Soundbar - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Soundbar Market is accounted for $5.18 billion in 2020 and is expected to reach $7.94 billion by 2028 growing at a CAGR of 5.5% during the forecast period. Factors such as increasing the number of smart homes, integration of voice assistance technology in the soundbar, and high popularity of subscription-based music streaming are driving the market growth. However, the availability of low-priced stand-alone speakers is hampering the growth of the market.
Soundbars are audio devices that can project sound from a wider enclosure. They are also known as media bars, and are generally mounted underneath or above a display device. It helps in enhancing the sound experience of consumers.
Based on the connectivity, the bluetooth segment is anticipated to expand at a rapid pace during the forecast period due to greater availability of these devices, at affordable prices and the consumer preference for smart portable devices. By geography, Asia Pacific is going to have high growth during the forecast period owing to growing media consumption and presence of global, regional, and local industry players.
Some of the key players profiled in the Soundbar Market include Bose Corporation, Sonos Inc, Panasonic Corporation, Samsung Electronics Co Ltd, LG Electronics Inc , Boston Acoustics Inc, Hisense Home Appliance Group Co Ltd , Sony Corporation, Xiaomi Corporation, Koninklijke Philips NV, Blaupunkt GmbH (Aurelius Group), Voxx International Corporation, Edifier International Ltd, Polk Audio (DEI Holdings Inc), VIZIO Inc, Sennheiser Electronic GmbH & Co KG, and Onkyo Corporation.
Installation Methods Covered:
• Active Soundbars
• Passive Soundbars
Equipment Types Covered:
• 7.1 Channel
• 5.1 Channel
• 3.1 Channel
• 2.1 Channel
• Home Audio
• Music Players
• Television Sets
Sales Channels Covered:
• Direct Channel
• Distribution Channel
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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