Asia-Pacific Wireless Audio Market by Technology Innovation and Growth Outlook 2021 to 2026 - Xiaomi Corp, Samsung Electronics Co. Ltd, Apple Inc., Sony Corporation

The Forestry Equipment Market Research Report is an in-depth study that provides industry-leading insight into existing and emerging growth patterns, end-user analysis, and other key data that have been tested and validated by experts and industry professionals. The report studies the market for importance, share, Status, demand and supply, models, competitive landscape, industry chain analysis, and other significant factors. The report also provides a detailed overview of the driving forces of the industry, along with the micro and macro-economic factors that are likely to affect its development.

The Asia-Pacific wireless audio market is expected to register a CAGR of 16% during the forecast period (2021 - 2026). 

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Top Key Players in the Asia-Pacific Wireless Audio Market: Apple Inc. (Including Beats Electronics LLC), Xiaomi Corp, Samsung Electronics Co. Ltd, Harman International Industries Incorporated (JBL), Sony Corporation, Skullcandy Inc., Bose Corporation, Alibaba Group, Baidu Inc., Amazon.com Inc., Google LLC, Realme Chongqing Mobile Telecommunications Corp. Ltd, LINE Corporation, Huawei Device Co. Ltd, GN Audio AS (Jabra), and Others.

Industry News:

- In May 2020 - Xiaomi announced its first true wireless earbuds, the Mi TWS Earphones 2 in India. The Mi True Wireless Earphones 2 have a semi-in-ear design to offer a comfortable fit and offers up to 14 hours of battery life with the charging case and up to 4 hours’ worth of listening on a single charge.

- In Feb 2020 - Xiaomi Mi launched Outdoor Bluetooth Speaker. Mi Outdoor Bluetooth Speaker is quite light and compact, making it easy to carry anywhere and everywhere. It is compatible with both Android and iOS devices and connects via Bluetooth 5.0. The speaker has a frequency response of 20 to 20KHz. The 2,000mAh battery present in the speaker will give 20 hours of music playback.

Key Market Trends:

China to Dominate the Market Growth

- China dominates the Asia-Pacific wireless audio device market. The Chinese economy maintains high-speed growth which has been stimulated by the consecutive increases of industrial output, imports & exports, consumer consumption, and capital investment. Moreover, increased R&D expenditure by OEMs for the development of new and advanced wireless audio devices is fueling the growth of the wireless audio device market in the country.
- Owing to the vast availability of resources and cheap labor, various multinational companies have also set up their manufacturing plants, thus making the country an ideal destination for multi-million investments in the field of wireless audio devices.
- Moreover, China is poised to be a leader, in terms of the volume of smartphones, with a 37% share, by 2018. This emphasizes the importance and growing demand for wireless audio devices in China.
- Asian countries, such as China, India, South Korea, Taiwan, and Japan, have a significant presence of manufacturers of the raw materials used in wireless speakers manufacturing, who has experienced lockdown and disrupted the production schedules. The sales have been down as the lockdown in most of the global economies has been resulted in deliveries limited to essentials and has resulted in companies revising their revenue targets.
- However, with the resurgence, the Chinese market is likely to grow and dominate the Asia-Pacific wireless audio market as there is a surge in the global demand for infotainment devices and a rise in the use of wireless audio devices in the commercial sector.

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