Wireless Audio Device Market Size is valued at USD 57.95 Bn in 2023 and is predicted to reach USD 266.91 Bn by the year 2031 at a 21.27% CAGR during the forecast period for 2024-2031.
Wireless audio devices have become increasingly popular due to their convenience and flexibility. They offer a tangle-free and hassle-free audio experience, making them well-suited for a wide range of everyday activities, from listening to music on the go to creating immersive home audio setups. Wireless audio equipment finds applications in a variety of settings, including conferences, meetings, sports broadcasts, and other events, as well as in the fields of media, entertainment, education, and business. The industry is expanding as original equipment manufacturers (OEMs) are investing more in research & development to provide sophisticated wireless audio equipment. The surge in live video streaming, internet-based video content consumption, and remote work and learning during lockdowns has driven the demand for wireless audio devices. In addition, the demand for wireless audio products has been boosted by the rise in remote work, online learning, and home workouts.
Moreover, the adoption of wireless audio devices has risen because of their improved attributes, such as portability, ease of control, and remote accessibility for audio communication. With their ability to offer fast and straightforward audio transmission, wireless functionality, and uncomplicated setup, these devices enhance the overall consumer experience. Consequently, it is expected that the wireless audio device market will expand in response to the growing demand for mobile services.
Competitive Landscape
Some Major Key Players In The Wireless Audio Device Market:
- Apple Inc.,
- HARMAN International,
- Bose Corporation,
- Sonos, Inc.,
- Sony Corporation
- Masimo,
- Sennheiser electronic GmbH & Co. KG,
- VOXX International Corp.,
- VIZIO, Inc.,
- Marshall Group,
- GN Store Nord A/S,
- Plantronics, Inc.,
- Xiaomi,
- Bang & Olufsen,
- Yamaha Corporation,
- LG Electronics
- Imagine Marketing Limited,
- Shure
- Others
Market Segmentation:
The Wireless Audio Device market is segmented on the basis of product and application. As per the product, the market is segmented as headphones, earphones, speaker systems, headsets, microphones, sound bars and true wireless hearables/ earbuds. The technology market is segmented into Airplay, Bluetooth, Wi-Fi, Bluetooth + Wi-Fi, Radio frequency and others. By functionality, the market is segmented into smart devices and non-smart devices. The application market is segmented into consumer, professional, home audio, automotive, and others.
Based On Product, The Bluetooth + WI-FI Segment Is A Major Contributor In The Wireless Audio Device Market.
The Bluetooth + Wi-Fi category is expected to hold a major share. The increasing popularity of wireless audio devices can be attributed to their affordability and portability. A key driver of this growing demand is integrating Wi-Fi and Bluetooth technologies into a single Integrated Circuit. Consumers are increasingly seeking seamless connectivity in their devices, beginning with their smartphones.
The Bluetooth Segment Witnessed Growth At A Rapid Rate.
The Bluetooth segment is projected to grow rapidly in the global Wireless Audio Device market. Bluetooth technology stands as a universally recognized standard that boasts nearly universal compatibility with a wide array of devices, making it the dominant choice among various technologies in the market. Notably, one pivotal advancement in this field emerged with the introduction of Qualcomm aptX and Bluetooth 4.0, which revolutionized speaker sound quality and drove its widespread adoption. Bluetooth technology, in contrast to other wireless audio transmission methods, is known for its energy efficiency, rendering it the preferred option for wireless audio transmission in smartphones. Furthermore, prominent players in the market, such as HTC, Samsung, and OnePlus, have embraced Bluetooth 5.0 technology in their smartphones, further accelerating its adoption.
In The Region, The Asia Pacific Wireless Audio Device Market Holds A Significant Revenue Share.
The Asia Pacific wireless Audio Device market is expected to record the highest market revenue share in the near future due to the increasing use of smartphones & other smart devices as audio sources, further contributing to this escalating demand. Asia Pacific market is experiencing growth propelled by technological advancements and the implementation of regulations concerning the recycling and management of e-waste.Moreover, regulatory initiatives to establish standardized frequency bands for wireless communication between countries are fostering the evolution of wireless audio systems in the region. In addition, Europe is estimated to grow at a rapid rate in the global Wireless Audio Device market.
Recent Developments:
- In Sept 2023, Bose announced the next version of its well-known QuietComfort headphones. It is known all over the world that QuietComfort products are the best, and the QuietComfort Ultra Headphones, the QuietComfort Ultra Earbuds, and the QuietComfort Headphones all live up to that reputation. Some of these are famous comfort and stability, world-class noise cancellation, and high-quality sound. The QC Ultra headphones and earbuds had a brand-new, high-end look and came with Bose Immersive Audio, which made the sound quality even better.
- In Feb 2022, Niantic, Inc. and Sony entered into an agreement for a collaborative effort in the field of auditory AR for headphones. Sony created technologies and products that enabled consumers to experience the virtual world through headphones while capturing the sounds of the real world.
Wireless Audio Device Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 57.95 Bn |
|
Revenue Forecast In 2031 |
USD 266.91 Bn |
|
Growth Rate CAGR |
CAGR of 21.27 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Product, Technology, Functionality and Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Apple Inc (US), HARMAN International (South Korea), Bose Corporation (US), Sonos, Inc. (US), Sony Corporation (Japan), Masimo (US), Sennheiser electronic GmbH & Co. KG (Germany), VOXX International Corp.(US), VIZIO, Inc. (US), Marshall Group (Sweden), GN Store Nord A/S (Denmark), Plantronics, Inc.(US), Xiaomi (China), Bang & Olufsen (Denmark), Yamaha Corporation (Japan), LG Electronics (South Korea) Imagine Marketing Limited (India), Shure (US). |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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