Wireless Audio Devices Market to Register High Revenue Growth at 8.4% CAGR During 2018 – 2026

Innovation is the keyword in all things technology; it is the fuel that powers the advancements taking place almost on a daily basis in Information Technology and Smart Devices. When Bluetooth was first introduced, the audio devices ecosystem underwent a massive technological overhaul. Today, when Bluetooth technology underpins almost every known device and system, a newer technology is emerging in the wireless audio devices market. A small Wi-Fi enabled HD transmitting device connects multiple wired or wireless audio devices to other devices for facilitating a private and superior consumer listening experience. This new technology will help overcome the audio limitations of Bluetooth – providing increased opportunities for manufacturers of wireless audio devices.

Manufacturers of wireless audio devices are investing large sums of money in structured product innovations to cater to the demands of consumers. There has been a monumental shift in the fundamental principles of audio technology; it is just a matter of time when wireless technology renders wired devices obsolete. Notable innovations are afloat in the wireless audio devices market. Streaming of audio and music is a hot trend, with consumers preferring to stream music and audio directly into their smartphones and smart devices.

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Multi-room audio streaming using smart speakers is another big opportunity area for manufacturers of wireless audio devices. Multi-room audio systems can either run on the internal Wi-Fi network or interact with one another to form their own network (IoT in action); and are governed by dedicated apps for each system (depending on the brand).

Consumers also prefer to take their music with them and in this context, the adoption of wireless audio devices is anticipated to surge in the coming years. Whether portable speakers or wireless earbuds, the demand for wireless audio devices – especially powerful devices with a smaller form factor and an enhanced battery life – will reach exponential heights in the next few years.

A new study by Persistence Market Research on the wireless audio devices market reveals interesting facets of the global market for wireless audio devices. According to the forecast, revenue from the sales of wireless audio devices is projected to reach about US$ 27 Billion by 2026, witnessing a growth rate of 8.4% during the period 2018 to 2026.

Wireless 24 bit high-res audio formats are trending the global wireless audio devices market and manufacturers are scrambling to add more innovations in product features to provide rich listening experiences to customers. Superior resolution is no longer just an added feature – consumers demand exemplary audio quality through Bluetooth devices and the latest wireless audio devices come with built-in audio enhancement features.

A new innovation in the form of ‘hearables’ is also on the horizon. These wireless audio devices integrate traditional audio formats with wearable technology in devices that come in super small form factors. These devices cater to user preferences of very high quality audio along with advanced product features such as biometric sensors, voice recognition software, and support for cloud based systems. Some of these hearables also have inbuilt personal voice assistance technology and consumers have the option to use these devices to assist in improving speech comprehensibility especially in noisy environments.

Leading American telecommunications equipment and semiconductor company Qualcomm has recently announced an upgrade to its existing wireless stereo technology that enables wireless headsets to deliver superior audio quality with an extended battery life. Powered by Qualcomm’s latest Bluetooth stereo optical compressor, this technology facilitates reduction in power consumption up to 65% for voice calls and music streaming. Wireless audio devices built with this technology are anticipated to be launched in the global market towards the close of 2018. This will be a big leap in the wireless audio devices market and will open more avenues for growth in revenue in the coming years.

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