Wireless Audio Devices Market: Global Size, Share, Trends, Growth and Forecast 2022-2032
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- Status : Published
- Published on: Oct 2022
- Report ID: KDMI-6665
- Available Format: PDF/Excel/DOC
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Wireless Audio Devices Market: Overview and Definition
The Wireless Audio Devices Market is estimated to grow from USD 16.5 billion in 2021 to USD 52.7 billion by 2032 at a healthy CAGR of 17.5% during the forecast period 2022-2032.
A wireless audio device is an electronic device that receives and transmits different sound signals using various technologies, namely Bluetooth, Wi-Fi, airplay, and others. Wireless technologies have allowed the transmission of audio from source to speakers without cables; a wireless audio device offers connectivity, flexibility, expandability, and convenience. Some of the wireless audio devices found in the market are headphones, speakers, audio systems, and tuners to the radio. Wireless audio devices are used in many sectors, such as transportation, industry, commercial, residential, and others.
Wireless Audio Devices Market Growth Drivers and Challenges
The global wireless audio devices use wireless technologies such as Wi-Fi, Bluetooth, and AirPlay to transmit and receive audio signals. Some of the various types of wireless audio devices available on the market are wireless headphones, microphones, speakers, soundbars, audio systems, radio tuners, etc. The key driving factors for the market are increasing penetration of infotainment devices, increasing adoption of mobile devices, and growing application areas of wireless audio devices in the commercial sector, such as events, shows, call centers, and others.
Growing Demand for Portable Audio Devices
Wireless audio technology plays a vital role in growing the market for electronic devices. Due to the high production of wireless speakers, mobility on semiconductors for wireless devices, improvement in technology and the initiation of innovative audio devices, the wireless audio devices market is increasing. Semi-conductors are building blocks used by designers to implement great ideas about audio technology into marketable products. In addition to rapid urbanization, the adoption of intelligent and smart technology solutions is increasing, particularly in retail showrooms, metro towns, and others. This accessibility factor is expected to fuel the growth of the global market for wireless audio devices over the forecast period.
Increasing Demand for Smart Devices
With the increasing demand among customers for audio-based devices, different vendors of audio solutions are introducing new models and features in the segment of wireless audio devices at competitive product prices. High demand for WSNs (wireless sensor networks) is expected to drive market growth for wireless audio devices across various industries. Adoption of smart home automation systems is anticipated to boost demand for smart speakers that use voice assistants to monitor and control connected devices. It is expected that those factors will increase the demand for wireless audio devices.
Wireless audio devices find applications in four major sectors, including the commercial, consumer, automotive, and other sectors, including security & defense. Wireless audio devices are used in the consumer sector as support accessories for smartphones, laptops/computers, and gaming consoles. The commercial sector includes wireless devices used in office spaces, industries, and other business establishments, such as IT parks, sports complexes, hotels, and government organizations. Increasing the use of in-vehicle infotainment devices, advanced driver assistance systems (ADAS), and GPS devices have also boosted the use of wireless headphones, speakers, and others in automobiles, trucks, buses, and other automobiles.
Growth in this market is driven by growing demand for smartphones as a source of entertainment, consumer preferences for mobile devices, and advances in wireless technology. However, frequency compliance and health issues are some of the factors that challenge market growth. High development costs of wireless audio devices, however, are expected to impede market growth over the forecast period.
Wireless Audio Devices Market Regional Analysis
Due to strong consumer demand for cutting-edge wireless audio devices, North America has been a prominent participant in the worldwide wireless audio devices market. Some of the industry's top names, including Apple Inc., Sonos, Inc., and Bose Corporation, are based in the area.
Europe: The demand for high-quality audio goods is predicted to increase significantly, and wireless technology advances will also contribute to this rise. The market in the region is expanding as a result of the growing adoption of wireless audio devices in the commercial sector.
Asia-Pacific: The Asia-Pacific region is expected to witness the fastest growth in the wireless audio devices market due to the increasing adoption of smartphones and other mobile devices, rising disposable incomes, and the growing popularity of music streaming services. The region is home to some of the largest manufacturing hubs for wireless audio devices.
Latin America: The Latin American market is also expected to witness significant growth in the coming years due to the increasing adoption of wireless audio devices in the region. The growing popularity of music streaming services and the increasing disposable incomes of consumers are some of the key factors driving the growth of the market in Latin America.
Middle East and Africa: The Middle East and Africa market is expected to witness steady growth in the coming years due to the increasing adoption of wireless audio devices in the region. The growing popularity of smart home devices and the increasing demand for high-quality audio products are some of the key factors driving the growth of the market in the Middle East and Africa.
The report also covers detailed competitive analysis of major market players of the global wireless audio device market such as Sony Corporation, Bose Corporation, Sennheiser Electronic Gmbh & Company Kg, LG Electronics, Sonos Inc., Koninklijke Philips N.V., Vizio Holdings Inc., Apple Inc., Voxx International Corporation, Harman International and other major & niche players. The global market for wireless audio devices is witnessing a wide range of industry activities such as product launch, innovation, acquisition, partnership, research & development, and expansion across the globe.
Competitive landscape analysis provides a detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development, and other market activities). The study also provides the company’s positioning and market share of the overall market.
Wireless Audio Devices Market Segmentation
- Speaker Systems
- Sound Bars
- Others (Audio/Video (A/V) Controllers, A/V Receivers, Power Amplifiers, Radio Tuners, and Dedicated Speaker Docks)
- Home Audio
- Others (Security & Defense, Industrial, and Medical)
- Smart Devices
- Non-smart Devices
- Radio Frequency
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa and Rest of Middle East & Africa)
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges, and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
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