Wireless Audio Devices Market 2022 includes statistical forecast, competitive landscape, key trend and strategic recommendations by 2030

ByLance T. Lee

Aug 29, 2022

Report Ocean recently added a research report on the wireless audio device market. The report includes an in-depth analysis of market characteristics, impact of COVID-19, size and growth, segmentation, regional and country breakdowns, competitive environment, market shares, trends and strategies. Additionally, it traces the development of the market over time and projects the growth of the regional market. It compares the market to other markets and situates it in relation to the larger market.

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The global wireless audio device market is expected to grow from USD 12.5 billion in 2016 to USD 70.4 billion by 2027, growing at a CAGR of 17% during the forecast period.

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Market scenario:
The global wireless audio device market has witnessed steady growth over the past few years owing to the growing implementation of wireless devices in various industries and growing demand for consumer electronics. The market has been divided into different product categories namely wireless speaker system, wireless headphones, wireless microphone, sound bars and others.

The growing penetration of wireless devices in the commercial sector is one of the major driving factors of the wireless audio device market. For example, wireless microphones are widely used in sporting events. The media and entertainment market has witnessed rapid growth in the Asia-Pacific region, which in turn is driving the demand for wireless microphones. These microphones are widely used in various events such as Olympics, World Cup, Commonwealth and others. Wireless speakers are widely used in residential buildings, mainly due to the growing demand for sophisticated speakers, high-end home theater systems and home automation solutions. Further, the implementation of these wireless devices in the commercial sector is expected to drive the overall market growth.

Consumer electronics is a profitable industry, which continues to grow as companies develop new products and technologies for wireless audio devices. Growing population, increasing consumer preferences for wireless accessories, and changing new technologies in the market are driving the growth of consumer electronics segment. For example, wireless headsets include a speaker and a microphone, which are commonly used during any digital communication. In the United States, 40% of the population uses wireless headphones on wearable devices, which is expected to increase in the future. Sony, Phillips, Apple, Sennheiser, Bose are some of the leading manufacturers of wireless headphones.

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Objective Study of the Wireless Audio Devices Market:
> To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Wireless Audio Devices market
> Provide insights into factors affecting market growth
> Analyze the global wireless audio device market using tools such as Porter’s Five Forces Analysis
> Provide historic and forecast revenue of market segments and sub-segments for four main geographies, North America, Europe, Asia and Rest of the World (ROW) and their countries
> Provide country-level market analysis with respect to current market size and future prospects
> Provide country level market analysis for segment by type, service provider and region
> Provide strategic profiling of key market players, thoroughly analyzing their core competencies and drawing a competitive landscape for the market
> To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Wireless Audio Devices market

Segments-

For the purpose of this study, Market Research Future has segmented the wireless audio devices market into type, service provider, and region.
Product –
> Wireless speaker system
> Wireless Headsets
> Soundbar
> Wireless microphones
Technology –
>Bluetooth
> Wi-Fi
> Reading on air
> Others
Final user –
> Commercial
> Electronics
> Telecommunications
> Automotive
> Security & Challenge
Region
> North America
> Europe
> Asia-Pacific
> Right of way

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Key players
Some of the key players in the global wireless audio devices market include Sony Corporation (Japan), Bose Corporation (USA), Sennheiser Electronic Gmbh & Company Kg (Germany), LG Electronics (South Korea), Sonos, Inc. ( United States), Koninklijke Philips NV (Netherlands), Vizio Holdings, Inc. (United States), Apple Inc. (United States), Voxx International Corporation (United States) and Samsung Electronics Co., Ltd ( South Korea).

Regional Analysis-
North America dominates the wireless audio device market, followed by Asia-Pacific and Europe. The availability of low-cost consumer equipment and the growth of smart phones are driving the growth of the wireless audio device market in North America. Among the North America region, the United States is the leading economy in the wireless audio devices market and is expected to grow with a CAGR of over 16% during the forecast period 2016-2027, while the Asia- Pacific is expected to grow with the highest rate owing to the increasing advancement in technology as well as the growing demand and adoption of smartphones in the region.

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By region, North America dominates the wireless audio device market with a market share of around 46%, while Europe and the rest of the world held 28% and 8% market share respectively in 2016. Asia-Pacific has been the fastest growing region in wireless audio. device market, owing to the growing technological advancement in the region, thus holding about 19% of the market in 2016.
Furthermore, North America dominated the global wireless audio device market, generating USD 5.74 billion in market value in 2016 and is expected to reach USD 34.61 billion by the end of 2027, with a CAGR of in growth of 17.74%. It was followed by Europe, which is expected to generate a market of $14.73 billion by 2027. However, Asia-Pacific is expected to be the fastest growing market with a CAGR of 20.53 % and is expected to generate a market value of $18.10 billion by 2027. However, the rest of the world is growing with a CAGR of 10.67% CAGR over the forecast period, 2016-2027.

Key Findings-
> The global wireless audio device market is expected to reach USD 70 billion by 2027, growing at a CAGR of around 17% during the forecast period 2016-2027.
> By product, wireless speaker systems dominate the market and generated USD 4.48 billion in 2016, while soundbar is expected to grow with the fastest growth at 21.37% CAGR.
> By technology, Bluetooth technology dominates the market and is expected to generate a value of USD 36.46 billion by 2027, growing with a CAGR of 18.95%.
> North America is expected to dominate the wireless audio device market throughout the forecast period.

Contents

Market overview
Market dynamics
Associated industry rating
Market Competitive Landscape
Analysis of leading companies
Market analysis and forecast, by product type
Market analysis and forecast, by applications
Market analysis and forecast, by region
Conclusions and Recommendations
Annex

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