A recent report published by Infinium Global Research on wireless audio device market provides in-depth analysis of segments and sub-segments in the global as well as regional wireless audio device market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional wireless audio device market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global wireless audio device market. According to the report, the global wireless audio device market is projected to grow at a CAGR of 17.5% over the forecast period of 2021-2027.

Market Insight

The wireless audio device market was valued at USD 60.38 billion in 2020 and is expected to reach USD 183.2668 billion in 2027, with a CAGR of 17.5% during the forecast period. The need for wireless communication systems has evolved over the years. There is a huge transformation in the audio market due to technology and science. Before, the audio market was bound by wires and physical connections, but now the market is ruled by wireless audio. The wireless audio device market is the demand for today as the use has been incredibly increased. Wireless audio devices include speakers, adapters, integrated microphones, dedicated speaker docks, in-ear monitoring systems, and many more that are being used to play various types of audio files. It can be run on batteries or power cables depending on its design. The leading competitors are Sonos Inc., Avnera Corporation, Logitech International SA, Plantronics Inc., Polk Audio, Apple Inc., etc.

The increased use of technology and various mobility devices boosts the growth of the wireless audio device market. Changes in customer trends and different innovations are the main reasons for more usage of wireless audio. The shift from wired to wireless provides intensified features like improved portability, good audio quality, and noise annulment. The wireless audio devices offer pliability, integration, and expandability. Wireless audio has achieved a new height by changing the media focus to streaming services. It provides personal libraries to people who are fond of music which they can enjoy anywhere anytime. However, there are certain rigorous rules, imposed by the government on noise outrush that hinder the market growth. There are various negative health effects on children and adults, due to excess usage of audio devices that hamper their health in many ways such as ear damage. Moreover, technology is taking over the world, there are various infotainment devices like televisions, PCs, mobiles, laptops, etc., that allow the penetration of the audio market. There are additional advantages of mobility devices in commercial sectors such as education, entertainment, security, home applications, etc. which gives a benefit to the audio market and is adding up to its growth. Novel coronavirus (COVID-19) has affected almost every country in the world. The disease has spread across several countries around the world. The major components of wireless audio devices including sensors, antennas, and other components are produced mainly in countries including China, Taiwan, Thailand, the Philippines, and South Korea. The governments in these countries imposed lockdowns to control the spread of COVID-19. Lockdown in these countries compelled the component manufacturers to reduce their production levels and even stop their production in some cases.

Geographically, North America is leading in the use of wireless audio device market. In North America, the most demanding consumers are the young generation people, tech-savvy people who are more attracted towards the different mobile devices and are making meticulous use of them. The Asia Pacific is also getting into the race by becoming a leading market, due to its vast growing economies such as India, China, and Japan. These countries are going to contribute major transformation in the usage of wireless audio devices, with its demand for increasing need for new technologies and supporting the wireless audio device market in expansion and making it reach new high points.

Segment Covered

The report on the global wireless audio device market covers segments such as product, technology, and end user. On the basis of product, the sub-markets include wireless speaker system, wireless headsets, sound bar, and wireless microphones. On the basis of technology, the sub-markets include bluetooth, wi-fi, airplay, and others. On the basis of end user, the sub-markets include commercial, electronics, telecommunications, automotive, and security & defiance.

Companies Profiled:

The report provides profiles of the companies in the market such as Apple, Inc., Bose Corporation, Harman International Industries, Incorporated, Sony Corporation, Sonos Inc, Avnera Corporation, Logitech International SA, Plantronics Inc, Polk Audio, and Shure Incorporated.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the wireless audio device market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.