Overview and Scope
Wireless audio devices receive the signals using wireless platforms such as radio frequency waves, infrared, airplay for streaming music, and others. A wireless audio device offers connectivity and flexibility across devices. They do not require a physical wire to broadcast the audio. It provides wireless music streaming for audio systems and other speakers.
Sizing and Forecast
The wireless audio device market size has grown exponentially in recent years. It will grow from $33.71 billion in 2023 to $42.46 billion in 2024 at a compound annual growth rate (CAGR) of 26.0%. The growth in the historic period can be attributed to growth in consumer demand for mobility, smartphone proliferation, growth of streaming services, digital audio quality, high-resolution audio.
The wireless audio device market size is expected to see exponential growth in the next few years. It will grow to $101.71 billion in 2028 at a compound annual growth rate (CAGR) of 24.4%. The growth in the forecast period can be attributed to 5g connectivity, voice assistant integration, growing demand for gaming and vr, health and fitness, augmented reality (ar) and mixed reality (mr),. Major trends in the forecast period include true wireless stereo (tws) earbuds, active noise cancellation (anc), gaming and low latency audio, customization and personalization, wearable integration.
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Segmentation & Regional Insights
The wireless audio device market covered in this report is segmented –
1) By Product: Sound Bars, Wireless Speakers, Wirerless Headsets And Microphones
2) By Technology: Bluetooth, Wi-Fi, Airplay
3) By Application: Commercial, Consumer, Automotive
North America was the largest region in the wireless audio device market in 2023. Asia-Pacific is expected to be the fastest-growing region in the wireless audio device market report during the forecast period. The regions covered in the wireless audio device market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rise in the adoption of wireless devices is expected to propel the growth of the wireless audio device market going forward. Wireless devices are electronic devices such as smartphones, routers, radios, tablets, Bluetooth mice, and keyboards that use radio signals to communicate and do not require a physical wire. The rapid increase in the adoption of wireless devices is promoting the demand for the adoption of wireless audio devices by consumers for entertainment purposes. For instance, according to DataReportal, an online reference library, the number of smartphones in use is rapidly growing at an annual rate of 5.7%, with an average of approximately 1 million new smartphones in use every day. Therefore, the rise in the adoption of wireless devices is driving the growth of the wireless audio device market.
Key Industry Players
Major companies operating in the wireless audio device market include Apple Inc., Boat Lifestyle, Bose Corporation, DEI Holdings Inc., Harman International Industries Inc., Koninklijke Philips N.V., LG Electronics Inc., Logitech International S.A., Plantronics Inc., Samsung Electronics Co. Ltd., Sennheiser electronic GmbH & Co. KG, Shure Incorporated, Sonos Inc., Sony Corporation, Vizio Inc., Voxx International Corporation, Masimo Corporation, Marshall Group, GN Store Nord A/S, Xiaomi Corporation, Bang & Olufsen A/S, Yamaha Corporation, Imagine Marketing Limited, JBL, Earin AB, Audiotonix Group, Sound Devices LLC, Jabra, Amazon.com Inc., Google LLC, Jaybird, Boston Acoustics Inc.
The wireless audio device market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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