South Korea Speaker Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

South Korea Speaker Market Growth

The rising demand for high-fidelity audio services, home entertainment systems, stylish and unique speaker designs, rising income levels, and constant advancements in speaker technology are the key factors boosting the growth of South Korea speaker market.

Moreover, there is a rising demand for smart speakers among the tech-savvy population comprising all age groups due to the integration of advanced features with traditional speakers such as voice commands, personal organisation, multi-room connectivity, and room-sensing technology, among others.  For instance, in March 2024, LG launched the LG Soundbar S95TR equipped with three-dimensional sound powered by artificial intelligence (AI) which boasts a seamless and thrilling audio experience.  With the new LG Soundbar S95TR, wireless connectivity and TV speaker use are made possible for smooth TV connectivity.

Also, prominent market players are striving to differentiate themselves from the competitors by incorporating advanced features into their ensembles which is fuelling South Korea speaker market expansion as South Korean consumers place high value and trust on established brands and a company’s reputation for premium quality and service. For instance, smart speakers such as Amazon Echo Gen 4 provide portability and smooth integration with streaming services such as Spotify and grant access to various playlists, artists, and movies available in the region.

Key Trends and Recent Developments

Increasing adoption of smart home technologies, popularity of wireless and Bluetooth speakers, and growth in the automotive audio market are the key trends accelerating the South Korea speaker market value.

September 2024

Hi-Fi brand Technics debuted the SC-CX700 Wireless Speaker System at IFA 2024 allowing users experience music like never before. It was available in three colors Charcoal Black, Silky Gray and Terracotta Brown, crafted from a stylish suede material perfectly complementing any home aesthetic.

August 2024

KEF introduced its flagship speaker, the MUON, in Seoul, crafted by world-renowned industrial designer Ross Lovegrove. Its unique design and technological brilliance featured fluid contours and a striking absence of sharp angles. To provide a closer look at these innovative systems, KEF Korea organized listening sessions at the launch event with visual artist Vakki and cellist-curator Yoon Ji-won.

July 2024

The world’s first dedicated audio museum, Audem, was opened in a residential corner of Seoul, established by Michael Chung, the founder of Korean audio specialist Silbatone Acoustics, in memory of his late father. The Museum is expected to promote speakers launched in the country to a wide range of audiophiles.

March 2024

Samsung Electronics Co introduced a new bluetooth and wireless speaker, Music Frame, to the Korean market. It was a frame-shaped speaker, enabling customers to decorate it with pictures or photos complementing their interior décor. The Frame also facilitated interchanging of images and photos without replacing the panel, which provided a seamless customisation experience.

Rising Demand for Smart Voice Assistants Speakers is Propelling the Growth of South Korea Speaker Market

With the increasing adoption of smart home technologies, the demand for smart speakers in South Korea has surged. Devices like Amazon Echo, Google Nest, and Apple HomePod are growing in popularity, especially among tech-savvy consumers seeking voice-activated control for their home automation systems, entertainment, and daily tasks. Additionally, South Korea’s strong internet penetration and advanced AI technology have contributed to the widespread use of voice assistants like Naver's Clova and Kakao's AI system. Consumers are gravitating toward speakers that not only offer superior sound quality but also integrate seamlessly with other smart devices and platforms, driving growth in the smart speaker segment.

Increasing Adoption in Bluetooth Speakers is Leading to the South Korea Speaker Market Development

The popularity of wireless and Bluetooth speakers continues to rise in South Korea, driven by a shift toward cord-free and portable audio solutions. Consumers are increasingly seeking flexibility in how and where they listen to music, leading to a growing preference for compact, easy-to-carry Bluetooth speakers that provide high-quality sound. Additionally, advancements in wireless technologies like Wi-Fi 6 and Bluetooth 5.0 have improved connectivity and sound quality, making these speakers more appealing for both personal and outdoor use. This trend is particularly popular among younger generations, who value portability and convenience in their audio devices.

Expansion of Premium Audio Products is Increasing the South Korea Speaker Market Revenue

There is a notable shift toward premium audio products in the South Korean speaker market, with consumers willing to invest in high-quality sound systems. Brands like Bose, Sonos, Bang & Olufsen, and Harman Kardon are seeing increased demand in both the home audio and automotive sectors, driven by a growing middle class and a cultural appreciation for high-quality sound. The rise of hi-fi audio systems, soundbars, and high-end wireless speakers for home theaters and premium sound experiences is particularly notable in urban areas where disposable income is higher. This trend reflects a desire for better sound quality and the growing sophistication of audio technology.

Growth in the Automotive Audio Market is Leading to the Expansion of Speaker Market in South Korea

The automotive speaker market in South Korea is another significant growth factor, with in-car entertainment systems becoming more advanced and integrated into modern vehicles. South Korea’s strong automotive industry, led by brands like Hyundai, Kia, and Genesis, is a key driver behind this trend. Consumers are increasingly seeking premium sound systems in their vehicles, such as those developed in partnership with audio brands like Bose, Harman Kardon, and Lexicon. The growth in electric vehicles (EVs) and connected car technologies also presents new opportunities for speaker manufacturers to develop integrated, high-quality audio solutions for a variety of automotive platforms.

South Korea Speaker Industry Segmentation

“South Korea Speaker Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Wired Speaker
• Wireless Speaker

Market Breakup by Application

• Consumer Electronics 
• Professional Audio
• Automotive 
• Others

South Korea Speaker Market Share

Based on type, the market is segmented into wired speakers and wireless speakers. Wireless speakers are gaining popularity in the country due to their compact and stylish designs despite being relatively new in the market as compared to wired speakers. With the use of these speakers, users can establish connections with multiple platforms via smartphones and other Bluetooth and WiFi-enabled equipment.

Leading Companies in South Korea Speaker Market

The market players are continuously developing new battery technologies to meet consumer demands.

• Sony Corporation 
• Samsung Electronics Co. Ltd. 
• Bose Corporation 
• LG Corporation 
• Panasonic Holdings Corporation 
• Apple, Inc. 
• Amazon.com Inc. 
• Alphabet Inc. 
• Marshall Group AB
• Others