The global loudspeaker market is set to reach $20.49 billion (£15.24bn) by 2030, according to a new report by MarketsandMarkets™. Increasing demand for superior sound quality, the rise of smart homes, and advancements in wireless audio technology are key factors driving growth.
Currently valued at $16.42bn (£12.17bn) in 2025, this translates as a CAGR of 4.5 per cent, and rising popularity of wireless and Bluetooth technologies represents a key market opportunity, currently. Soundbars are expected to hold the second-largest market share in the loudspeaker market during the forecast period, the report said.
Elaborating, the report stated how soundbars have become an increasingly popular choice for enhancing home audio experiences due to their sleek design and ability to deliver high-quality sound without the need for an entire home theatre system. These devices are designed to fit seamlessly under televisions, providing an immersive sound experience that enhances movies, music, and gaming.
Prominent companies offering soundbars include Samsung, Sony, LG, and Bose, all of which offer a range of models that cater to different preferences and budgets. For instance, Samsung recently launched the HW-S800B, a compact soundbar that features Dolby Atmos technology, enhancing the surround sound experience for users. This model showcases Samsung’s commitment to delivering cutting-edge audio solutions aligned with modern home entertainment needs.
Additionally, smart speakers have revolutionised the loudspeaker industry by integrating voice recognition technology and smart home capabilities into audio devices, MarketsandMarkets commented. These speakers not only deliver high-quality sound but also serve as hubs for controlling various smart devices, accessing information, and streaming music through voice commands.
Prominent companies like Amazon, Google, Apple, and Sonos dominate this segment, offering a range of models tailored to different user preferences. Amazon’s Echo series and Google’s Nest Audio are examples of popular smart speakers that have gained significant market share due to their advanced features and compatibility with various smart home ecosystems.
The US is expected to dominate the loudspeaker market during the forecast period, with the rise of voice-controlled devices like smart speakers playing a significant role as consumers integrate them with other home automation systems.
Demand for high-quality audio devices, including smart speakers, as consumers embrace smart homes, continues to rise. According to the US Census Bureau, nearly 50 per cent of American households had smart home devices in 2021, and this number is expected to grow with advancements in IoT technologies. This integration enables users to control loudspeakers using voice commands through systems like Amazon Alexa or Google Assistant, further driving market expansion. According to the World Metrics report, music festivals contribute significantly to the economy, with music festivals alone bringing in over USD 1.3 billion annually.
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