Surround Soundbars Market to Reach $14.3 Billion, Globally, by 2032 at 7.1% CAGR: Allied Market Research

The surround soundbars market is driven by factors such as increase in demand for enhanced audio experience, increase in demand for wireless streaming of audio content, and use of AI and machine learning to improve dialogue clarity in surround soundbars

NEW CASTLE, Del., Nov. 3, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Surround Soundbars Market, by Channel Type (2 Channel, 3 Channel, 4 Channel, and Above 5 Channel): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, The global surround soundbars market was valued at $7.2 billion in 2022, and is projected to reach $14.3 billion by 2032, growing at a CAGR of 7.1% from 2023 to 2032.

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Surround soundbars are designed to enhance the audio experience of home entertainment system, especially for televisions and home theaters. These are easy to install. These are also compact and fit easily in living spaces.

Prime Determinants of Growth

The surround soundbars market is expected to witness notable growth during the forecast period, owing to growth in demand for enhanced audio experience, increase in demand for wireless streaming of audio content, and use of AI and machine learning to improve dialogue clarity in surround soundbars drives market growth. Moreover, increase in adoption of smart TVs and smart home devices is expected to provide lucrative opportunities for the growth of the Surround soundbars market during the forecast period. On the contrary, high cost of premium surround soundbars is the restraint for Surround soundbars market growth during the forecast period.

Report Coverage & Details:

The above 5 channel segment to maintain its leadership status throughout the forecast period

Based on channel type, the above 5 channel segment held the highest market share in 2022, accounting for more than one-third of the global surround soundbars industry revenue, and is estimated to maintain its leadership status throughout the forecast period, as it is known for its small size & flexibility, and it is widely used with smart TVs. Moreover, the 2 channel segment is projected to manifest the highest CAGR of 7.6% from 2023 to 2032.

Asia-Pacific to Maintain its Dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global surround soundbars market revenue. Asia-Pacific region is expected to witness the fastest CAGR of 7.3% from 2023 to 2032 owing to increase in sale of smart TVs and sound systems in urban areas of developing countries in the region.

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 Leading Market Players:

• Bose Corporation
• JBL
• Klipsch (VOSURROUND SOUNDBARS International Corp.)
• LG Electronics
• Masimo Corporation
• Samsung Electronics
• Sennheiser Electronic GmbH & Co. KG
• Shenzhen Edifier Technology Co., Ltd.
• Sonos, Inc.
• Sony Corporation

The report provides a detailed analysis of these key players of the surround soundbars market. These players have adopted different strategies such as product development, and  product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits For Stakeholders:

• As per the surround soundbars market outlook, this report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the surround soundbars market analysis from 2022 to 2032 to identify the prevailing surround soundbars market opportunities.
• The surround soundbars Market Forecast research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the surround soundbars market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global surround soundbars market trends, key players, market segments, application areas, and surround soundbars Market growth strategies.

Surround Soundbars Key Segments:

By Channel Type

• 2 Channel
• 3 Channel
• 4 Channel
• Above 5 Channel

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
• LAMEA (Brazil, Saudi Arebia, United Arab Emirates, South Africa, Rest of LAMEA)

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