Press release
Wireless Audio Device Market Size, Share, Industry Repor
The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.Wireless Audio Device Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $101.71 billion In 2028 At A CAGR Of 24.4% :
The wireless audio device market size has grown exponentially in recent years. It will grow from $33.71 billion in 2023 to $42.46 billion in 2024 at a compound annual growth rate (CAGR) of 26.0%. The growth in the historic period can be attributed to growth in consumer demand for mobility, smartphone proliferation, growth of streaming services, digital audio quality, high-resolution audio.
The wireless audio device market size is expected to see exponential growth in the next few years. It will grow to $101.71 billion in 2028 at a compound annual growth rate (CAGR) of 24.4%. The growth in the forecast period can be attributed to 5g connectivity, voice assistant integration, growing demand for gaming and vr, health and fitness, augmented reality (ar) and mixed reality (mr),. Major trends in the forecast period include true wireless stereo (tws) earbuds, active noise cancellation (anc), gaming and low latency audio, customization and personalization, wearable integration.
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Wireless Audio Device Market Major Segments
The wireless audio device market covered in this report is segmented -
1) By Product: Sound Bars, Wireless Speakers, Wirerless Headsets And Microphones
2) By Technology: Bluetooth, Wi-Fi, Airplay
3) By Application: Commercial, Consumer, Automotive
Key Driver - Surge In Wireless Device Usage Boosts Wireless Audio Device Market
The rise in the adoption of wireless devices is expected to propel the growth of the wireless audio device market going forward. Wireless devices are electronic devices such as smartphones, routers, radios, tablets, Bluetooth mice, and keyboards that use radio signals to communicate and do not require a physical wire. The rapid increase in the adoption of wireless devices is promoting the demand for the adoption of wireless audio devices by consumers for entertainment purposes. For instance, according to DataReportal, an online reference library, the number of smartphones in use is rapidly growing at an annual rate of 5.7%, with an average of approximately 1 million new smartphones in use every day. Therefore, the rise in the adoption of wireless devices is driving the growth of the wireless audio device market.
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Prominent Trend - Cutting-Edge Product Introductions Drive The Evolution Of The Wireless Audio Device Sector
Product innovations have emerged as the key trend gaining popularity in the wireless audio device market. Companies in the wireless audio device industry are developing new technologies and launching new products into the market to expand the company's customer base and meet customers' requirements. For instance, in March 2021, Sonos, a US-based audio products manufacturing company, introduced Sonos Roam, an ultra-portable, compact-sized smart speaker that is connected completely to Wi-Fi at home and is also easily switched to Bluetooth when outside. It can simultaneously connect to both of them, making it seamlessly stream.
Wireless Audio Device Market Players
Major companies operating in the wireless audio device market include Apple Inc., Boat Lifestyle, Bose Corporation, DEI Holdings Inc., Harman International Industries Inc., Koninklijke Philips N.V., LG Electronics Inc., Logitech International S.A., Plantronics Inc., Samsung Electronics Co. Ltd., Sennheiser electronic GmbH & Co. KG, Shure Incorporated, Sonos Inc., Sony Corporation, Vizio Inc., Voxx International Corporation, Masimo Corporation, Marshall Group, GN Store Nord A/S, Xiaomi Corporation, Bang & Olufsen A/S, Yamaha Corporation, Imagine Marketing Limited, JBL, Earin AB, Audiotonix Group, Sound Devices LLC, Jabra, Amazon.com Inc., Google LLC, Jaybird, Boston Acoustics Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the wireless audio device market in 2023. Asia-Pacific is expected to be the fastest-growing region in the wireless audio device market report during the forecast period. The regions covered in the wireless audio device market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Wireless Audio Device Market Report Structure
3. Wireless Audio Device Market Trends And Strategies
4. Wireless Audio Device Market - Macro Economic Scenario
5. Wireless Audio Device Market Size And Growth
…..
27. Wireless Audio Device Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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