Global Wireless Audio Device Market Research Report- Forecast 2027
The global wireless audio devices market has been witnessing steady growth over the last few years on account of growing implementation of wireless devices in various sectors and the increasing demand for consumer electronics. The market has been divided into various product categories, namely, wireless speaker system, wireless headsets, wireless microphone, sound bars, and others.
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Increasing penetration of wireless devices in the commercial sector is one of the major driving factors for wireless audio device market. For instance, wireless microphones are widely used in sports events. The media and entertainment market has been growing rapidly in the Asia-Pacific region, which in turn is boosting the demand for wireless microphones. These microphones are widely used in various events such as Olympics, World Cup, Commonwealth, and others. Wireless speakers are widely used in residential buildings, majorly due to the increasing demand for sophisticated speakers, high-end home theatre systems, and home automation solutions. Also, the implementation of these wireless devices in the commercial sector, is expected to boost the overall growth of the market.
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Consumer electronics is a profitable industry, which is constantly growing as companies develop new products and technologies for wireless audio devices. The growing population, increasing consumer preferences for wireless accessories and evolution of new technologies in the market, are boosting the growth of consumer electronics segment. For instance, wireless headsets include a speaker and a microphone, which are commonly used during any digital communication. In the U.S., 40% of the population uses wireless headphones on portable devices, which is expected to increase in the future. Sony, Phillips, Apple, Sennheiser, Bose are some of the leading wireless headsets manufacturers.
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The global wireless audio device market is estimated to grow from USD 12.5 Billion in 2016 to USD 70.4 Billion by 2027, growing at a CAGR of 17% during the forecast period.
Objective Study of Wireless Audio Device Market:
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global wireless audio device market
• To provide insights about factors affecting the market growth
• To analyze the global wireless audio device market based on tools such as Porter’s Five Forces Analysis
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies, North America, Europe, Asia, and Rest of the World (ROW) and their countries
• To provide country level analysis of the market with respect to the current market size and future prospective
• To provide country level analysis of the market for segment by type, service provider and region
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global wireless audio device market
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 10
2 MARKET DYNAMICS 11
2.1 MARKET DRIVERS 11
2.1.1 INCREASING PENETRATION OF WIRELESS DEVICES IN THE COMMERCIAL SECTOR 12
2.1.2 INCREASING DEMAND FOR WIRELESS ACCESSORIES WITH CONSUMER ELECTRONIC PRODUCTS 12
2.1.3 INCREASING USAGE OF WIRELESS DEVICES IN THE SECURITY & DEFENCE SECTOR 13
2.2 MARKET INHIBITORS 13
2.2.1 ADVERSE EFFECTS ON HEALTH 13
2.2.2 HIGH DEVELOPMENT COST 13
2.3 SUPPLY CHAIN ANALYSIS 14
2.4 PORTER’S FIVE FORCES ANALYSIS 15
3 GLOBAL WIRELESS AUDIO DEVICE MARKET, BY PRODUCT 16
3.1 INTRODUCTION 16
3.2 MARKET BY SUB-SEGMENT 16
3.2.1 WIRELESS SPEAKER SYSTEM 19
3.2.2 WIRELESS HEADSETS 21
3.2.3 SOUND BAR 22
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