The Soundbar Market is Predict to reach USD 14.5 Billion by 2031, at a CAGR of 9.2%

Soundbar Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Soundbar Market size is expected to reach $14.5 billion by 2031, rising at a market growth of 9.2% CAGR during the forecast period.

The Tabletop segment is registering a CAGR of 8.8 % during the forecast period. This is largely due to tabletop soundbars' convenience and ease of installation. They are particularly popular among consumers who prefer a plug-and-play solution without complex mounting procedures. Additionally, tabletop soundbars often appeal to users with limited technical skills or those living in rented accommodations, where drilling into walls may not be allowed.

The Home Audio segment led the maximum revenue in the Global Soundbar Market by Application in 2023, thereby, achieving a market value of $11 billion by 2031. As more consumers invest in smart TVs and streaming services, the need for high-quality audio systems to complement their viewing experience has grown significantly. Soundbars are often seen as a convenient and space-saving solution for improving audio quality at home without the complexity of traditional multi-speaker setups.

The Active Soundbar segment is experiencing a CAGR of 9 % during the forecast period. Active soundbars are self-contained systems that include built-in amplifiers, eliminating the need for additional equipment like external receivers. A wide variety of consumers who favor plug-and-play solutions are attracted to this simplicity.

The Online segment captured the maximum revenue in the Global Soundbar Market by Distribution Channel in 2023, and thereby, achieving a market value of $9.4 billion by 2031. A broad array of soundbars is available on major online platforms such as Alibaba and Amazon, which simplifies the process of locating products that meet the requirements of consumers. The ease of home delivery and the option to purchase from a market has also contributed to the dominance of the online segment in soundbar sales.

The Bluetooth Segment is growing at a CAGR of 8.9 % during the forecast period. Consumers highly favor Bluetooth soundbars due to their ease of use, affordability, and widespread compatibility with various devices such as smartphones, tablets, and TVs. Bluetooth technology allows for seamless wireless streaming, making it convenient for users to connect their soundbars to their devices without complex setups.

Full Report: https://www.kbvresearch.com/soundbar-market/

The North America region dominated the Global Soundbar Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $5.1 billion by 2031. The Europe region is anticipated to grow at a CAGR of 8.8% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 9.9% during (2024 - 2031).

List of Key Companies Profiled

• Bose Corporation
• Sony Corporation
• Intex Technologies
• Yamaha Corporation
• Samsung Electronics Co., Ltd. (Samsung Group)
• LG Electronics, Inc. (LG Corporation)
• Koninklijke Philips N.V.
• Xiaomi Corporation
• Panasonic Holdings Corporation
• Toshiba Corporation

Soundbar Market Report Segmentation

By Type

• Tabletop
• Wall Mount

By Application

• Home Audio
• Commercial

By Installation Method

• Active Soundbar
• Passive Soundbar
• Other Installation Methods

By Distribution Channel

• Online
• Offline

By Connectivity

• Bluetooth
• Wi-Fi
• Other Connectivity Type

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Soundbar Market Size | Trend Report 2031

• October-2024
• 137 Pages

LAMEA Soundbar Market Size, Growth Trends Report | 2031

• October-2024
• 152 Pages

Europe Soundbar Market Size, Share & Top Key Players 2031

• October-2024
• 151 Pages

Asia Pacific Soundbar Market Size & Analysis Report to 2031

• October-2024
• 155 Pages