The Soundbar Market was at US$ 5.1 billion in 2021 and is growing to approximately US$ 9.8 billion by 2030, with a CAGR growth of 8.5% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, September 1, 2022 /EINPresswire.com/ -- According to the study, The Global Soundbar Market was estimated at USD 5.1 billion in 2021 and is anticipated to reach around USD 9.8 billion by 2030, growing at a CAGR of roughly 8.5% between 2022 and 2030.

Soundbar Market: Overview

Soundbar, also known as a speaker bar, is a wireless audio device. A Soundbar is a single or dual-speaker system that produces high-quality audio. It is used in conjunction with devices such as televisions, laptops, PCs, smartphones, music players, and so on. A two-piece Soundbar system includes a subwoofer. Soundbars are used in situations where freestanding speakers are not an option.

Various speakers are installed in a Soundbar cabinet to help produce a stereo effect, sound system, or both. It improves customer sound experience without the hassles of surround sound speakers, wiring, and other concerns for the entire family theatre. Furthermore, television manufacturers offer Soundbar that is designed to complement the look of the television with which they are paired.

Soundbar Market: Growth Drivers

The expansion of the e-commerce sector is anticipated to drive the Sound Bar Market over the coming years. This is due to increased mobile phone and internet penetration, as well as increased acceptance of digital payments and favorable demographics. Moreover, the surging adoption of technologically advanced products makes the e-commerce sector more accessible and efficient.

Most devices, including tablets and smartphones, as well as technologies including 3G, 4G, and Wi-Fi, as well as high-speed broadband connectivity, are assisting in boosting the number of online customers. Moreover, the majority of players have established themselves in the e-commerce market in a matter of years. Because of the increasing demand for digital commerce, innovative start-ups have emerged in all segments.

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Key Insights:

A) As per the analysis shared by our research analyst, the Soundbar market is estimated to grow annually at a CAGR of around 8.5% over the forecast period (2022-2030).
B) In terms of revenue, the Soundbar market size was valued at around USD 5.1 billion in 2021 and is projected to reach USD 9.8 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on product segmentation, the 2.1version segment was predicted to hold the maximum market share in the year 2021.
D) Based on application segmentation, the music players segment was the leading revenue-generating category in 2021.
E) On the basis of geography, the Asia Pacific region was the leading revenue generator in 2021.

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Regional Landscape

The Asia Pacific has led the global Soundbar market and is expected to maintain its dominance in the coming years. This region accounted for approximately 35% of the global market. Furthermore, the North America and Europe regions trail the Asia Pacific by minor differences.

Asia-Pacific has the fastest- CAGR in the Soundbar market. China has a significant market share in 2021 and is expected to remain so over the forecast period. Furthermore, the Middle East & Africa, and Latin America, are expected to grow significantly in the coming years.

Recent Development

A)July 2022:ViewSonic Corp. launched the ViewBoard 52 Series, which improves the classroom and learning experience through user-friendly designs and features. The Multimedia Sound Bar embedded in the exterior of this Edtech product is its key differentiator, delivering advanced audio.
B) July 2022: boat unveiled a Bluetooth Soundbar with features, including built-in Alexa, EQ modes, 120W RMS, and Dual Far-field mics.
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Key Players

Bose Corporation
Sony Corporation
VIZIO Inc.
laupunkt GmbH (Aurelius Group)
Sonos Inc.
Edifier International Ltd
Xiaomi Corporation
Hisense Home Appliance Group Co. Ltd
Sennheiser Electronic GmbH & Co. KG
Boston Acoustics Inc.
Koninklijke Philips NV
Panasonic Corporation
Voxx International Corporation
Onkyo Corporation
LG Electronics Inc.
Samsung Electronics Co. Ltd
Polk Audio

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The Soundbar Market is segmented as follows:

By Product

2
1
1
Others

By Application

Music Players
Television
Computer Systems
Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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