The global Wireless Audio Devices Market is expected to reach USD 194.85 Billion by 2027, according to a new report by Emergen Research. The growth of this market can be attributed to the increasing demand for wireless audio devices from the commercial sectors and rising technological advancement for the production of innovation devices. Increasing investments in the R&D by the OEMs for the production of advanced devices is augmenting the demand for the industry.
The pandemic has severely disrupted the supply chain, raw material supplies, and demand for the product in the market, as China is one of the major suppliers for the raw materials as well as the finished product. The present condition can be a great opportunity for local manufacturers if they can efficiently cater to the growing demand. However, the scarcity of raw materials is still a major restraining factor in the market. As people are facing a financial crisis, there are changes in consumer buying behavior, which can adversely affect the industry. The liquidity shortfall and the cash crisis have already affected the sales of the product.
Key companies operating in the Wireless Audio Devices market include:
Harman International Industries, Inc., Apple Inc., Bose Corporation, Sony Corporation, Samsung Electronics Co. Ltd., Sennheiser Electronic GmbH & Co. Kg, DEI Holdings, Inc., Plantronics, Inc., Sonos, Inc., and VIZIO, Inc., among others.
Some Key Highlights from the Report
- The increasing flexibility, improved audio quality, better battery life, and lightweight feature of the wireless speaker systems have resulted in the increased demand for the product.
- The Bluetooth accounted for the largest market share of the wireless Audio devices Market in 2019. In comparison to other wireless audio transmission technologies, Bluetooth consumes less power. In order to increase the adoption of Bluetooth, key smartphone manufacturers are planning to include Bluetooth 5.0 technology in smartphones.
- The commercial sector has a wide usage of wireless audio devices due to the growing demand for wireless infotainment devices.
- Asia-Pacific has the highest adoption rate in the market due to the increasing urban middle-class population in countries such as China, Japan, and India and the increasing disposable income of the consumers.
Emergen Research has segmented the global Wireless Audio Devices Market on the basis of Product, Technology, Application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Wireless Headsets & Microphones
- Sound Bars
- Speaker systems
- Other Products
Technology Outlook (Revenue, USD Billion; 2017-2027)
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Application Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
Key Benefits of the Report:
- Comprehensive analysis of the competitive scenario and its changing dynamics
- Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
- In-depth 8-year analysis of the Global Wireless Audio Devices Market
- Critical understanding of the key market segments
- Comprehensive analysis of the drivers, restraints, trends, and opportunities
- Detailed regional analysis and extensive company profiling
- Extensive assessment of current and emerging trends of the market
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