Dublin, Nov. 15, 2024 (GLOBE NEWSWIRE) -- The "North America Soundbar Market Size, Share & Trends Analysis by Type, Application, Installation Method, Distribution Channel, Connectivity, and Country: 2024-2031 Growth Forecast" report has been added to ResearchAndMarkets.com's offering.
The North American Soundbar Market is expected to witness market growth of 8.5% CAGR during the forecast period (2024-2031).
The US market dominated the North American Soundbar Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of USD 3.76 billion by 2031. The Canadian market is experiencing a CAGR of 9.8% during 2024-2031. Additionally, the Mexican market is expected to exhibit a CAGR of 9.5% during 2024-2031.
This market has grown significantly in recent years, driven by increased demand for enhanced audio quality in home entertainment systems. As televisions become thinner and more advanced, their built-in speakers often fail to deliver the robust sound that modern consumers expect. This has led to a rising demand for external audio solutions, with these emerging as a popular choice.
Recent developments in the Mexican market include introducing more budget-friendly models by brands like Samsung and LG, catering to the growing middle class. As smart TVs become more common in Mexican households, these are viewed as an affordable way to enhance audio quality without investing in expensive home theater setups.
Furthermore, the trend toward smaller living spaces in urban areas has increased the appeal of compact soundbars that save space while delivering better sound quality than TV speakers. More Mexican consumers are seeking affordable, high-quality audio solutions as a result of the proliferation of local streaming platforms and the expansion of internet access. Hence, the region will present lucrative growth opportunities for the market throughout the forecast period.
Some of the key companies in the North America Soundbar Market include:
- Bose Corporation
- Sony Corporation
- Intex Technologies
- Yamaha Corporation
- Samsung Electronics Co. Ltd. (Samsung Group)
- LG Electronics, Inc. (LG Corporation)
- Koninklijke Philips N.V.
- Xiaomi Corporation
- Panasonic Holdings Corporation
- Toshiba Corporation
Market Report Segmentation
- By Type
- Tabletop
- Wall Mount
- By Application
- Home Audio
- Commercial
- By Installation Method
- Active Soundbar
- Passive Soundbar
- Other Installation Methods
- By Distribution Channel
- Online
- Offline
- By Connectivity
- Bluetooth
- Wi-Fi
- Other Connectivity Type
- By Country
- US
- Canada
- Mexico
- Rest of North America
For more information about this report visit https://www.researchandmarkets.com/r/1l45n0
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