Wireless audio devices are devices that use wireless technologies in order to play various audios. Advancements in technology, especially in the audio sector have created a high demand for wireless audio devices like headphones, soundbars, microphones, and speakers, among others. Devices of innovative shapes and sizes have piqued more interest and usability among consumers due to their appeal. The applications of these devices range from home audio to defense sector. With the changing preference of consumers for mobility and portable devices, the demand for wireless audio devices has increased tremendously, thus leading to the growth of market, globally.
Drivers, Restraints, & Opportunities
The growth of the global market for wireless audio devices is majorly driven by the following factors:
- Growing market for smartphones
- Rising adoption of portable devices
- High expenditure on R&D for wireless audio technology by OEMs
- Advancements in technology
- Rising demand for infotainment services
In addition to the aforementioned factors, the flourishing market for Sound Bars in emerging nations and increased use of wireless audio devices in the hospitality and leisure sector are expected to offer ample growth opportunities in the near future. Although some factors like issues regarding operating frequency compliance and negative health effects on children and other user groups may act as deterrents for the growth of this market, these factors may not have a long-term impact due to the improving technology. Moreover, delivering high-quality audio remains a major challenge for the market players.
Market Overview
The global wireless audio device market is expected to be valued at USD 54.07 Billion by the end of 2022, growing at a CAGR of 23.2% between 2016 and 2022. Geographically, the Americas held the largest market share in 2015, with the U.S. being the key market due to commercialization of new technologies. However, the market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to the huge population of this region and the growing market for consumer electronics including smartphones, tablets, and wireless audio devices.
Based on product, the market was dominated by the segment of speaker systems; however, the market for headsets is expected to grow at the highest CAGR over the forecast period, owing to the rising demand for smartphones as a source of entertainment. Among application, the home audio accounted for the largest market share in 2015. However, the market for consumer application is expected to witness the highest growth over the forecast period in this segment. Moreover, based on technology, Bluetooth is expected to dominate the market with the largest share, owing to a significant growth in its demand.
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Scope of the Research
- Product: Headphones, Headsets, Speaker Systems, Soundbars, Others (including A/V Controllers, A/V Receivers, Power Amplifiers, Radio Tuners, and Speaker Docks)
- Technology: Bluetooth, Wi-Fi, AirPlay, Sonos, Others (AllPlay, WiSA, Play-Fi, KleerNet, SKAA, RF, and IR)
- Application: Home Audio, Consumer, Commercial, Automotive, Others (Security and Defense)
- Geography: Americas, Europe, Asia-Pacific, RoW
Apple Inc. (U.S.), Bose Corporation (U.S.), Sonos, Inc. (U.S.), DEI Holdings Inc. (U.S.), Harman International Industries, Incorporated (U.S.), Samsung Electronics Co., Ltd. (South Korea), Sennheiser Electronic GmbH & Co. KG (Germany), Sony Corporation (Japan), Vizio, Inc. (U.S.), and Voxx International Corporation (U.S.) are some of the leading players involved in the market for wireless audio devices.
