“Global Soundbar Market to reach a market value of USD 14.5 Billion by 2031 growing at a CAGR of 9.2%”
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 Europe segment procured 26% revenue share in the soundbar market in 2023. European consumers have shown a strong interest in enhancing their home entertainment experiences, particularly in the UK, Germany, and France. The demand for soundbars in the region has been driven by the increasing popularity of streaming platforms such as Netflix and Amazon Prime, as well as the increasing adoption of smart TVs.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In April, 2024, Sony launched its latest Dolby Atmos soundbar range. The new lineup offers advanced audio features, including immersive 3D sound, providing users with a cinematic experience in their living rooms. Sony continues to push the boundaries of home entertainment audio with its innovative soundbars. Moreover, In September, 2024, Bose unveiled its personal surround sound earbuds and a new soundbar with cutting-edge features. These devices aim to deliver an immersive audio experience with enhanced sound quality and design. Bose’s latest innovations push the boundaries of personal and home audio technology, integrating advanced features for superior sound.
Based on the Analysis presented in the KBV Cardinal matrix; Samsung Electronics Co., Ltd. is the forerunner in the Soundbar Market. In March, 2024, Samsung unveiled flagship HW-Q950C Dolby Atmos soundbar, which aims to redefine home audio experiences. This state-of-the-art soundbar features spatial audio technology to create a three-dimensional soundstage that immerses listeners in their favorite movies and music. Additionally, the HW-Q950C utilizes adaptive sound control and AI sound technology, which analyzes content in real-time to optimize audio output. This ensures that users receive a customized listening experience tailored to their preferences. Companies such as Sony Corporation, Yamaha Corporation, Panasonic Holdings Corporation are some of the key innovators in Soundbar Market.
The demand for high-quality home audio experiences has steadily risen as consumers invest in home entertainment systems. One of the primary benefits of soundbars is their capacity to provide exceptional audio quality without the complexity or high cost of a complete home theater system. While home theater setups typically require multiple speakers and complex wiring, soundbars provide a more affordable, effective, and streamlined solution. Hence, this rising demand for better sound quality in home entertainment is expected to drive the continued growth of the soundbar market.
Additionally, The manner in which consumers access and ingest media content has been significantly altered by the rapid expansion of streaming services, including Netflix, Disney+, Spotify, and Amazon Prime Video. With the rise of on-demand platforms, more people are now watching movies, binge-watching TV shows, and streaming music at home. This shift has driven a corresponding demand for high-quality audio experiences that can match the immersive visual content offered by these platforms. Thus, the continued growth of streaming services is expected to keep driving the demand for soundbars, especially as more immersive content becomes available.
Traditional home theater systems, such as 5.1 and 7.1 surround sound setups, remain popular among audiophiles and home entertainment enthusiasts due to their superior sound quality. These multi-speaker systems provide an immersive audio experience by positioning speakers around the room, which creates true surround sound. Hence, this competition slows the growth of the soundbar market.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.
Based on type, the soundbar market is bifurcated into tabletop and wall mount. The wall mount segment procured 38% revenue share in the soundbar market in 2023. Wall-mounted soundbars are particularly favored by users who want a clean, minimalist look in their home entertainment setup, especially when paired with a wall-mounted TV. These soundbars help save floor or shelf space, making them ideal for modern living spaces where design and aesthetics are important.
Based on application, the soundbar market is segmented into home audio and commercial. The commercial segment acquired 23% revenue share in the soundbar market in 2023. Soundbars are widely adopted in conference rooms, retail environments, hotels, and restaurants, offering a sleek and efficient audio solution. In the corporate sector, soundbars enhance audio quality in video conferencing systems, which has become especially important with the rise of remote work and hybrid work models.
On the basis of installed method, the soundbar market is classified into active soundbar, passive soundbar, and others. The passive soundbar segment recorded 10% revenue share in the soundbar market in 2023. Passive soundbars, which require external amplifiers or receivers, offer greater flexibility in designing a tailored sound system. This segment benefits from consumers looking for superior audio quality and the ability to integrate the soundbar into a more complex home theater setup.
On the basis of distribution channel, the soundbar market is bifurcated into online and offline. The offline segment witnessed 37% revenue share in the soundbar market in 2023. Brick-and-mortar stores, particularly specialized electronics retailers, continue attracting consumers who prefer hands-on experience with the product before purchasing. Many customers value the ability to test soundbars in-store and get personalized recommendations from sales staff.
By connectivity, the soundbar market is divided into Wi-Fi, Bluetooth, and others. The Wi-Fi segment garnered 28% revenue share in the soundbar market in 2023. Wi-Fi-enabled soundbars offer higher sound quality and can connect to home networks, allowing for more expansive functionality. These soundbars often support multi-room audio systems, voice assistants, and streaming services directly from the internet, enhancing the user experience.
Free Valuable Insights: Global Soundbar Market size to reach USD 14.5 Billion by 2031
The Soundbar market exhibits intense competition among various brands and manufacturers. Emerging players focus on innovative features, superior sound quality, and affordability to capture market share. Companies are investing in advanced technologies like Dolby Atmos and wireless connectivity, enhancing user experience while competing on price and product differentiation.
Region-wise, the soundbar market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment garnered 37% revenue share in the soundbar market in 2023. The dominance is due to the high penetration of smart TVs, streaming services, and home entertainment systems. North American consumers are particularly keen on upgrading their audio experiences to match the visual quality of modern 4K and 8K televisions, driving demand for advanced soundbar models.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 7.3 Billion |
| Market size forecast in 2031 | USD 14.5 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 9.2% from 2024 to 2031 |
| Number of Pages | 295 |
| Number of Tables | 503 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, Installation Method, Distribution Channel, Connectivity, Region |
| Country scope |
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| Companies Included | 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, and Toshiba Corporation |
By Type
By Application
By Installation Method
By Distribution Channel
By Connectivity
By Geography
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