Wireless Audio Devices Market - Projection Of Each Major Segment Over The Forecast Period

Wireless audio devices use audio technologies such as Wi-Fi, Bluetooth, Airplay, and WiSA to play the music sourced from a computer or other portable devices. These devices are commonly available in the form of Bluetooth speakers, Wi-Fi multiroom speakers, and sound bars. The increasing inclination towards streaming services such as Pandora, Deezer, and Spotify is driving the global wireless audio devices market. The widening base of youth population is positively impacting the growth of the market.

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According to a report by Transparency Market Research, the global market for wireless audio devices is expected to exhibit a CAGR of 1.5% between 2016 and 2024, reaching a valuation of US$10.12 bn by 2024. The report offers a detailed analysis of the various critical parameters of the market, making it a reliable tool for business for existing as well as new players.

The growing popularity of wireless technology enabled products is providing a significant boost to the global demand for wireless audio devices. These devices are being increasingly acknowledged for their compact design and convenience offered by them.

The spiraling demand for infotainment in the automotive industry is augmenting the growth of the global wireless audio devices market. In addition, the increasing implementation of the Internet of Things (IoT) in automobiles and is working in favor of the market.

Despite an array of favorable factors, the incompatibility of the Bluetooth technology with high resolution uncompressed audio files is acting as a major impediment to the growth of the market.

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Moreover, the high susceptibility of the sound quality in Wi-Fi technology to the ambient noise is limiting widespread adoption of wireless audio devices, particularly in the household sector.

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