Global Sound Bar Market Report and Forecast 2024-2032

Global Sound Bar Market Outlook

The global sound bar market size reached a value of approximately USD 5.99 billion in 2023. The market is further projected to grow at a CAGR of 4.80% between 2024 and 2032, reaching a value of USD 9.14 billion by 2032.

Key Trends in the Sound Bar Market

Sound bar is a rectangular shaped speaker system that transmits sound from an electronic device such as television or computer via several built-in small speakers. It is capable of projecting sound from a wide enclosure and is often used for providing an immersive audio experience to the listener.

• Rising demand for wireless streaming of audio and sounds owing to its convenience, flexibility, and easy installation, is fuelling the demand for sound bars. Various sound bars offer Wi-Fi and Bluetooth connectivity, enhancing the experience of the user.

• The market players are increasingly focussing on integrating voice assistants, such as Alexa and Google Assistant,  along with other functionalities such as artificial intelligence to make media bars more user-friendly, thereby boosting the sound bar market growth.

• Rapid digitalisation and rising penetration of subscription-based streaming platforms such as Netflix and Amazon Prime, among others have extensively contributed towards the demand for sound bar systems to create an immersive cinema experience at home.

Sound Bar Market Analysis

Based on type, the market is segmented into tabletop and wall mount, among others. On the basis of installation method, the market is bifurcated into active soundbar and passive soundbar. By connectivity, the market is categorised into Wi-Fi and Bluetooth, among others. On the basis of application, the market is divided into home audio and commercial. Based on distribution channel, the market is segmented into online and offline. By region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global sound bar market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Bose Corporation

• Samsung Electronics Co. Ltd

• Yamaha Corporation

• Sennheiser electronic GmbH & Co. KG

• Sony Electronics Inc.

• Sonos Inc.

• LG Electronics Inc.

• Onkyo Home Entertainment Corporation

• Klipsch Group, Inc.

• Koninklijke Philips N.V.

• BANG & OLUFSEN GROUP

• Dynaudio A/S

• Others

Sound Bar Market Share by Installation Method

Active sound bars are expected to witness a fast growth during the forecast period as they are considered to be more advantageous in comparison to passive sound bars. Active sound bars are cost-effective, as they come with built-in amplifiers and surround sound capabilities compared to passive soundbars that require outside amplifiers or receivers to operate correctly due to the absence of built-in amplifier. This makes active sound bars extremely convenient from a setup perspective.

Difficulty in setting full sound system with multiple speakers in certain homes thus favours the demand for active sound bars to create a digital surround sound effect with a single piece of equipment, aiding the sound bar market expansion. However, passive soundbars have higher quality, which makes them more expensive despite their fewer components.

Sound Bar Market Share by Region

The market for sound bar in the Asia Pacific is anticipated to grow rapidly over the forecast period owing to the growing adoption of advanced electronic devices and the strong presence of various key players in the region. Increasing construction of smart homes and rising disposable incomes are further boosting the adoption of sound bars. Moreover, rise in research and development expenditure by the manufacturers for developing new and advanced sound bar systems is further contributing to the growth of the sound bar market in the Asia Pacific.

Competitive Landscape

Bose Corporation was founded in 1964 and is headquartered in Massachusetts, United States. It is a retail company that is known for manufacturing and selling audio equipment such as earbuds, speakers, headphones, and sound bars, among others.

Samsung Electronics Co., Ltd is an electronics company that was founded in 1969 and is headquartered in Suwon-si, South Korea. The company manufactures consumer electronics, IT and mobile communication, and device solutions, among others.

Yamaha Corporation was established in 1887 and has its headquarters located in Shizuoka, Japan. The multinational company is focussed on producing wide varieties of products and services including professional audio and drums, among others.

Other major players in the sound bar market include Sennheiser electronic GmbH & Co. KG, Sony Electronics Inc., Sonos Inc., LG Electronics Inc., Onkyo Home Entertainment Corporation, Klipsch Group, Inc., Koninklijke Philips N.V., BANG & OLUFSEN GROUP, and Dynaudio A/S, among others.

Key Highlights of the Report