Press release
Wireless Audio Device Market 2017 by Global Key Players: Sony, Bose, LG Electronics, Sonos, Vizio Holdings, Apple, Samsung
Market Highlights
Consumer electronics is a profitable industry which is constantly growing as companies develop new products and technologies in the market. For instance, smart television, wireless headphones, Bluetooth speakers are a part of this segment. The growing population, increasing consumer preferences for wireless accessories and evolution of new technologies in the market is 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 U.S., 40% of population uses wireless headphones on portable devices which is expected to increase in the coming future.
Increasing penetration of wireless devices in commercial and consumer electronics sector, and increasing usage of wireless devices by security & defence sector are expected to drive the market during the forecast period 2016-2027. However, high development cost of wireless audio device is the major factor hindering the market growth.
The Global Wireless Audio Device Market is growing rapidly over 17% of CAGR and is expected to reach at USD ~70 billion by the end of forecast period 2027.
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Key Players
Some of the major players in global Wireless Audio Device Market include Sony Corporation (Japan), Bose Corporation (U.S.), Sennheiser Electronic Gmbh & Company Kg (Germany), LG Electronics (South Korea), Sonos, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Vizio Holdings, Inc. (U.S.), Apple Inc. (U.S.), Voxx International Corporation (U.S.), and Samsung Electronics Co., Ltd (South Korea).
Global Wireless Audio Device Market Segmentation
The global Wireless Audio Device market has been segmented on the basis of product, technology, end-user and region. On the basis of product, the market is segmented into wireless speaker systems, wireless headsets, sound bars, and wireless microphone and others. By technology, the market is divided into bluetooth, Wi-Fi, airplay and others. On the basis of end-user, the market is classified into commercial, electronics, telecommunication, automotive, security & defence and others.
Key Findings
• The global Wireless Audio Device market is expected to reach USD 70 billion by 2027, growing with approximately 17% CAGR during forecast period 2016-2027.
• By Product: Wireless speaker systems are dominating the market and has generated USD 4.48 billion in 2016. Whereas, Sound bar is expected to grow with fastest growing 21.37 % CAGR
• By Technology: Bluetooth technology is dominating the market and expected to generate USD 36.46 billion market by 2027 growing with 18.95% CAGR.
• North America is expected to dominate wireless audio device market throughout the forecast period.
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Market Research Analysis:
Regional analysis for global wireless audio device market is studied in different geographic regions as North America, Europe, Asia-Pacific and Rest of world. The study reveals that North America region would evolve as a leader in global wireless audio device market. North America is the most technically advanced application market due to presence of prominent players, system suppliers, and large IT companies. Europe is expected to be the second highest market in terms of revenue generation. Whereas, Asia-Pacific is expected to witness high growth in the forecast period and projected to grow with approximately 20% CAGR during the forecast period. Technological and industrial growth in Asian countries, such as China and Japan, is giving boost to the wireless audio device market in the coming years. Further, Increasing technological advancements and increasing disposable income in Asia-Pacific region is expected to drive the growth of wireless audio devices market in the region. However, issues related to hearing problems is expected to hinder the growth of the market.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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Akash Anand,
Market Research Future
Office No. 528, Amanora Chambers
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Email: akash.anand@marketresearchfuture.com
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