The global market for wireless audio devices has made it possible to send and receive different audio signals using wireless technologies including Bluetooth, Wi-Fi, NFC, and AirPlay, among others. In 2022, it is expected that the market for wireless audio products will be valued US$ 77,076.9 million. According to the prediction, sales of wireless audio equipment would be worth US$ 1,92,627.2 million in 2032 after growing at a CAGR of 9.60 percent.
There are many different kinds of wireless audio equipment on the market, including wireless earphones and headphones, portable speakers, sound bars, wireless home theatre systems, multi-room speakers, and others. The market’s main growth drivers are expanding infotainment device penetration, rising mobile device adoption, and rising applications of wireless audio devices in the business sector, among others.
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Additionally, wireless audio equipment has uses in a number of industries, including consumer goods, transportation, business, security defence, and others. In the consumer market, wireless audio accessories are used to support mobile devices including cellphones, laptops/computers, and game consoles.
The commercial sector includes wireless audio products used in businesses like offices, factories, and other commercial buildings including sports arenas, IT parks, universities, and government buildings. Additionally, the usage of wireless speakers, headphones, and other devices in cars, trucks, buses, and other vehicles has increased due to the widespread use of advanced driver assistance systems (ADAS), in-vehicle infotainment systems, and GPS devices.
Global Wireless Audio Products Market: Drivers and Challenges
Easy adoption of wireless audio products among the people is driven by advanced features offered in the wireless audio products such as flexile audio streaming, product bundling, and, increasing disposable income among the population is also encouraging people to invest in luxury items such as wireless audio products.
Few other factors that positively impact the global wireless audio products market are advancement in audio technology and rising mobile devices penetration which support adoption of wireless speakers.
Stringent government regulations have been imposed regarding the frequency range of audio products.
Few other challenges faced by the vendors in the market include threat of piracy, lesser bandwidth of wireless connection. These are the factors that hinder the growth of global wireless audio product market.
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Global Wireless Audio Products Market: Regional Outlook
On the basis of regions, global wireless audio products market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa.
North America is likely to continue its leading position over the forecast period. The growth of this regional market is largely fuelled by easy adoption and better disposable income among the population.
The continuous penetration of consumer electronics is among the key factors for the healthy pace of growth of the Asia Pacific market which has the highest potential.
Western Europe market holds a notable share in the global wireless audio products market as it is home to several key vendors for sound systems.
Global Wireless Audio Products Market: Competition Landscape
Some of the key players for wireless audio products market are Logitech/ UE, Bose Corporation, Philips, BO, BW, Harman International, Samsung Electronics, Beats Audio (Apple Inc.), Sony Corporation, Sonos Inc., Denon, Yamaha
Key Segments Of The Wireless Audio Products Market
By Product Type:
- Headsets
- Headphones
- Microphones
- Speaker Systems
- Sound Bars
- Others
By Functionality:
- Wi-Fi
- Bluetooth
- Radio Frequency
- Bluetooth + Wi-Fi
- AirPlay
- Others
By Application:
- Consumer
- Home Audio
- Commercial
- Automotive
- Others
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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