Global Soundbar Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Soundbar Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A soundbar is a special speaker with multiple drivers that is much wider than its height and is always placed above a computer monitor or under a TV or home theater screen. Because in a soundbar multiple speakers are placed in a single cabinet, this helps produce a surround sound or stereo effect. It can significantly improve the consumer's sound experience without the complicated issues of surround sound speakers, wiring, etc. throughout the home theater.

Market Overview:

The latest research study on the global Soundbar market finds that the global Soundbar market reached a value of USD 5091.48 million in 2022. It’s expected that the market will achieve USD 10432.49 million by 2028, exhibiting a CAGR of 12.7% during the forecast period.

Lack of ability to produce rich bass

Soundbars provide fairly good sound quality and have good mid- and high-frequency responses, but they often lack the ability to produce rich bass. In some cases, it may be necessary to supplement the Sound Bar with a subwoofer to effectively reproduce the bass of DVD and Blu-ray disc tracks.

Tighter global trading environment

Recently, due to the impact of the trade war, the economic development of the United States, the world's largest importer, and China, the world's largest exporter, will have adverse effects. This will also affect the import and export of the soundbar. As China is a major exporter of electronic audio, the export market is mainly concentrated in the United States, Japan, and other countries and regions.

Loose manufacturing policy

In recent years, the global emphasis on manufacturing has returned. This is not only reflected in the upgrading of emerging markets and integration into the global industrial chain but also intensified competition between major manufacturing and powerful countries.
Last October, the United States issued the Advanced Manufacturing Leadership Strategy Report. In February this year, Germany released the National Industrial Strategy 2030 Plan. The current consumption upgrade and the pursuit of personalization and customization make the future market focus more on the field of individual needs. Due to technological progress, future products will be transformed into smart devices, and advances in materials science can create more complex, powerful and advanced smart devices.

Region Overview:

North America dominated the Soundbar market in 2022, with a market share of 36.46%.

Company Overview:

Samsung is one of the major players operating in the Soundbar market, holding a share of 23.37% in 2023.

Samsung

Samsung Electronics Co., Ltd. manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.

Vizio

VIZIO, headquartered in Irvine, California, is the leading HDTV brand in the United States and the number one soundbar brand in the United States. The Company offers televisions, audio equipment, and accessories. VIZIO's mission is to provide high-performance, smarter products with the latest innovations.

Segmentation Overview:

By type, Mobile Type segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Home Audio segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Soundbar market covered in Chapter 3:

Philips
Bose
Edifier
LG
Sonos
Samsung
Polk Audio
Klipsh
Vizio
Yamaha
Sony

In Chapter 4 and Chapter 14.2, on the basis of types, the Soundbar market from 2018 to 2029 is primarily split into:

Wall-mounted Type
Mobile Type

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Soundbar market from 2018 to 2029 covers:

Home Audio
Commercial
Automotive
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)