Wireless communication is the growing technology which allows transferring of information from one user to another with the help of radio signals. Wireless audio devices is a kind of devices which uses audio technologies such as Wi-Fi, Bluetooth and airplay to play the music from a computer or other devices. Wireless audio devices offers various features such as expandability, flexibility and connectivity among others. The devices are generally in the form of sound bars, bluetooth speakers, microphones and headsets.
Wireless audio devices are widely used in commercial sectors, such as media & entertainment, education and other various corporate events. 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.
The major growth driver of Wireless Audio Device Market include increasing implementation of wireless devices in commercial sector, increasing demand for wireless accessories with consumer electronic products and increasing usage of wireless devices by security & defence sector. However, high development cost of wireless audio device is expected to hinder the market growth in the forecast period 2016-2027.
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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).
The active incorporation of supply chain management is progressively improving the growth of the market. The critical success factors in the market are easily achieved in the market leading to an elevated pace of development in the forecast period. The enhanced level of importance on the variation of products is raising the number of customers in the market considerably. The long term viability of the market is highly dependent on the techniques and the strategic roadmaps that are engaged by market players. The innovation in products and services of the markets will alter the progression of the market substantially. The market appeal and competitors’ tendencies are markedly enhanced by the strategies that are being used by market players. The market is meaningfully elevated by the developments that are occurring in the market.
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.
The wireless audio device market globally is segmented on the basis of end user, product and technology. By Product, the market segmentation comprises of wireless headsets, sound bars, wireless speaker systems, and wireless microphone among others. By Technology, the market is segmented on the basis of Wi-Fi, Bluetooth, Airplay and, others. By End Users, the market consists of electronics, automotive, commercial, telecommunication, security & defense among others.
Detailed Regional Analysis
The regional analysis of the market states that the North American region is heading the growth of the wireless audio device market followed by Asia Pacific and European region. The availability of inexpensive consumer equipment and rising trend of smart phones are the growth driving factors of the wireless audio device market in the North American region. The US market in the North America region is the foremost economy in the wireless audio device market and is anticipated to develop with a CAGR of more than 16 percent through the forecasted period. While, the Asia Pacific region is anticipated to increase at a high rate to rising advancement in the technology and increasing demand and adoption of smartphones in the region.
Music and stereo companies
Smartphone and audio device manufacturers
The report for Wireless Audio Device market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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TABLE OF CONTENTS
1 Executive Summary
2 Market Dynamics
2.1 Market Drivers
2.2 Market Inhibitors
2.3 Supply Chain Analysis
2.4 Porter’s Five Forces Analysis
3 Global Wireless Audio Device Market, By Product
3.2 Market By Sub-Segment
3.2.1 Wireless Speaker System
3.2.2 Wireless Headsets
3.2.3 Sound Bar
3.2.4 Wireless Microphones
4 Global Wireless Audio Device Market, By Technology
4.2 Market By Sub-Segment
5 Global Wireless Audio Device Market, By End-User
5.2 Market By Sub-Segment
5.2.5 Security & Defence
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