Soundbase Market Size (2023 - 2030):

Global Soundbase Market is estimated to be worth USD 1.13 Billion in 2022 and is projected to reach a value of USD 2.32 Billion by 2030, growing at a CAGR of 9.4% during the forecast period 2023-2030.

A sound base is a compact, space-saving loudspeaker enclosure devised to be positioned directly beneath a TV. It delivers first-rate sound quality and outshines a TV's inbuilt speakers while being pocket-friendly and requiring little setup. Its larger and cuboid structure permits the utilization of bigger and more powerful speakers. It features room for built-in speakers and a subwoofer, negating the necessity for additional audio units unless preferred. A sound base is a top-notch pick for anyone seeking to amplify the audio quality of their flat-screen TV with just one device. These audio systems are relatively small and nestle neatly underneath the TV, acting as an extension of it without obstructing the view, despite being larger than soundbars.

Global Soundbase Market Drivers:

The rising prominence of E-commerce platforms is fueling the growth of the Global Soundbase Market.

The Global Soundbase Market is fueled by the rise of the e-commerce industry. This is brought on by the greater utilization of mobile devices and the internet, coupled with the rising adoption of digital payments. Because of the swift acceptance of technologically optimized commodities, the e-commerce sector is becoming more accessible, as well as effective. Mobile devices, encompassing smartphones, tablets, laptops, etc., together with avant-garde technologies like 4G, 5G, Wi-Fi, etc., are aiding in boosting the number of online patrons. Likewise, it has only taken a few years for the renowned players to establish themselves in the e-commerce domain. As the need for digital commerce grows, creative start-ups in the audio industry have arisen. Therefore, this factor propels the demand for sound bases.

The growing popularity of OTT services is another factor contributing to the growth of the Global Soundbase Market.

The growing acceptance of subscription-based video streaming services like Amazon Prime and Netflix in emerging economies is boosting the Global Soundbase Market. Global demand for sound bases has surged owing to the rapid digitization and rising utilization of smart devices like smartphones, smart TVs, laptops, etc. Technological advancements, like the introduction of cutting-edge 4K and 8K television technologies, further aided in market expansion. The entire user experience has been improved by soundbases' enhanced ability to stream wireless content as well as their robust internet connectivity and easy integration with voice assistants like Alexa, Siri, and Google Assistant. Therefore, this factor also propels the demand for sound bases.

Global Soundbase Market Challenges:

The Global Soundbase Market is encountering obstacles, primarily concerning these sound systems' bigger size and restricted stereo sound dispersion. Soundbases have a larger physical footprint, occupying more space beneath and around one's TV. Moreover, there's the issue of a narrower stereo sound spread. This drawback is due to the utilization of smaller drivers when contrasted with regular home theater speakers. Thus, these hindrances curtail the progress of the Global Soundbase Market.

Global Soundbase Market Opportunities:

The Global Soundbase Market is projected to offer profitable prospects for businesses operating in the home audio equipment domain, fostering partnerships, mergers, collaborations, and agreements during the forecasted period. Furthermore, there is a potential to make technological advancements and upgrades with novel business ideas for a competitive edge in the market by tapping into a profitable outcome. 

COVID-19 Impact on the Global Soundbase Market:

The Global Soundbase Market has been considerably influenced by the COVID-19 outbreak. As a result of rigorous lockdowns, travel restrictions, and social distancing measures, the demand for sound bases waned. Disruptions in the supply chains highly affected the expedited manufacturing and distribution of sound bases. Numerous individuals encountered financial uncertainty, thereby diminishing spending on non-essential items. These factors hampered the market's expansion. Despite these hindrances, the Global Soundbase Market is envisaged to rebound alongside the global recovery from the pandemic.

Global Soundbase Market Recent Developments:

• In March 2023, LG Electronics Inc. introduced its 2023 Soundbar collection (S90QY, SC9S, and S75Q) in India, devised to deliver a captivating audio experience for one's TV, boasting features like IMAX Enhanced and Dolby Atmos. 

• In January 2023, Samsung Electronics Co., Ltd. unveiled 3 new soundbars, namely HW-Q990C (flagship variant), HW-S800B (ultra-slim variant), and HW-G60C (gaming-oriented variant).

• In November 2022, SVS (Specialty Technologies, LLC) launched the SVS Prime Wireless Pro SoundBase, a 2nd generation-integrated stereo amplifier, offering audiophile-quality sound, high-resolution streaming, various connectivity options, and an intuitive user interface.

SOUNDBASE MARKET REPORT COVERAGE:

Global Soundbase Market Segmentation: By Price Range

• Mass

• Premium

Based on the Price Range, the Mass segment occupied the highest market share in the year 2022. The growth can be ascribed to the advantages that mass sound bases offer in contrast to premium counterparts, encompassing affordability, wide outreach, alignment with consumer preferences, inclusivity, and response to augmenting demand. Mass-market sound bases offer pocket-friendly options that cater to price-oriented consumers. They are extensively distributed through various retail outlets, reaching a larger audience. These products accommodate the needs of consumers who give precedence to affordability and value for money without compromising quality. Mass-market brands also focus on inclusivity, appealing to diverse customer bases. 

Global Soundbase Market Segmentation: By End-Use

• Residential 

• Commercial 

Based on the End-Use, the Residential segment occupied the highest market share in the year 2022. The growth can be ascribed to the soundbite’s numerous applications owing to its versatility and ability to amplify the audio experience. Since televisions' built-in speakers lack the punch and clarity to deliver immersive sound, sound bases are frequently employed to enrich the audio quality of TVs. In addition, they are utilized for music playback as they are simple to link with smartphones and tablets, permitting users to instantly access a huge collection of songs through sound bases. Additionally, the extensive utilization of these audio systems in home gaming setups to improve sound effects, positional audio, and immersive surround sound, enabling gamers to precisely pinpoint in-game noises and experience more engaging gameplay, is boosting market expansion.

Global Soundbase Market Segmentation: By Distribution Channel

• Offline Channels

• Online Channels

Based on the Distribution Channel, the Online Channels segment occupied the highest market share in the year 2022. The growth can be ascribed to the rising acceptance of e-commerce and online retailing platforms by several individuals. E-commerce platforms present easy convenience, authenticity, the best prices, and exemplary customer service for sound bases. Individuals have the option to choose their ideal sound base from the variety available on online platforms. Additionally, e-commerce platforms provide customers with legitimate product reviews and feedback, assisting them in making well-informed decisions regarding their ideal sound base.

Global Soundbase Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

Based on the Region, North America occupied the highest share of the Global Soundbase Market in the year 2022. The growth can be ascribed to the region's increased investments in incorporating new features to soundbases, the growing trend of digitalization, and the rising popularity of OTT platforms like Amazon Prime, Netflix, and Disney+ Hotstar. Furthermore, North America houses several prominent market players, encompassing Sonos, Inc., ZVOX Audio, LLC, DEI Holdings, Inc., Bose Corporation, and Harman International Industries, Inc. The region of Asia-Pacific is anticipated to expand at the quickest rate over the forecast period 2023-2030 owing to the rising disposable income in emerging economies like China and India, the booming entertainment and media industry, and the growing awareness regarding advanced audio technologies.

Global Soundbase Market Key Players:

1. Sonos, Inc. (United States)

2. ZVOX Audio, LLC (United States)

3. DEI Holdings, Inc. (United States)

4. Panasonic Holdings Corporation (Japan)

5. Bose Corporation (United States)

6. Harman International Industries, Inc. (United States)

7. Pyle USA Inc. (United States)

8. Sony Corporation (Japan)

9. Canton Elektronik GmbH & Co. KG (Germany)

10. Koninklijke Philips N.V. (Netherlands)