Market Synopsis of Global Wireless Audio Device Market
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.
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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- 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.
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.
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Regional Analysis of Wireless Audio Device Market:
North America is dominating the wireless audio device market followed by Asia-Pacific and Europe. The availability of low cost of consumer equipment and growing trend of smart phones are the growth drivers of wireless audio device market in North America. The US market among North America region is the leading economy in wireless audio device market and is expected to grow with a CAGR of more than 16% during the forecasted period of 2015-2027.Whereas, Asia-Pacific region is expected to grow with a highest rate due to growing advancement in the technology and growing demand and adoption of smartphones in the region.
- Music and stereo companies
- Smartphone and audio device manufacturers
- Financial institutes
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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