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Illinois, 25 May 2018(News)- 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.
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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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
For the purpose of this study, Market Research Future has segmented the market of wireless audio device into type, service provider and region.
Product –
• Wireless Speaker System
• Wireless Headsets
• Sound Bar
• Wireless Microphones
Technology –
• Bluetooth
• Wi-Fi
• Airplay
• Others
End-User –
• Commercial
• Electronics
• Telecommunications
• Automotive
• Security & Defiance
• North-America
• Europe
• Asia-Pacific
• RoW
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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.)
• Samsung Electronics Co. Ltd (South Korea).
Regional Analysis:
North America is dominating the wireless audio device market, and is followed by Asia-Pacific and Europe. The availability of low cost of consumer equipment and growth of smart phones, are the growth drivers of wireless audio device market in North America. Among North America region, the U.S., is the leading economy in wireless audio device market and is expected to grow with a CAGR of more than 16% during the forecast period of 2016-2027, while Asia-Pacific region is expected to grow with a highest rate due to growing advancement in the technology as well as due to the growing demand and adoption of smartphones in the region.
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 is expected to generate value of USD 36.46 billion by 2027, growing with 18.95% CAGR.
• North America is expected to dominate the wireless audio device market, throughout the forecast period.
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