Consumer electronics has become an integral part in today’s world. The changing lifestyle, growing inclination towards smart devices, rising disposable income are increasing the demand for consumer electronics. Also, government promoting digitization and high investments in research & development is increasing the demand for consumer electronics. Therefore, the increasing demand for consumer electronics is expected to boost the growth of the wireless audio devices market.
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. These microphones are widely used in various events such as Olympics, World Cup and Commonwealth among others. Wireless speakers are widely used in residential buildings majorly due to increasing demand for sophisticated speakers, rising demand for high-end home theatre systems and increasing demand for home automation solutions. Therefore, the implementation of these wireless devices in commercial sector is expected to boost the overall growth of the market.
The demand for high technologically advanced products in everyday life has created a need in the market to develop new products in order to attract more customers. The need for customization or new technologically advanced features has increased the cost of development for these wireless audio devices. This could be one factor that could cause hindrance in the growth of wireless audio device market.
The global wireless audio device market is expected to grow approximately at USD 70.47 Billion by 2027, approx.17% of CAGR during the forecast period.
The key players of wireless audio device market includes Sony Corporation (Japan), Bose Corporation (U.S.), Koninklijke Philips N.V. (Netherlands), Apple, Inc. (U.S.), Samsung Electronics Co., Ltd (South Korea), LG Electronics (South Korea), Vizio Holdings, Inc. (U.S.), Sennheiser Electronic Gmbh & Company Kg (Germany), Sonos, Inc. (U.S.) and Voxx International Corporation (U.S.) among others.
Global Wireless Audio Device Market Analysis & Forecast, from 2016 to 2027
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the wireless audio device market.
• To provide insights about factors affecting the market growth.
• To analyze the wireless audio device market based on porter’s five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia Pacific and Middle East & Africa.
• 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 on the basis of product, technology and end user.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the wireless audio device market.
• Music and stereo companies
• Smartphone and audio device manufacturers
• Financial institutes
• Research/Consultancy firms
• The global wireless audio device market is expected to reach USD 70.47 Billion by 2027.
• By Product, wireless speaker system sub segment in wireless audio device market accounts for the largest market share and is growing with approximately ~18.92% CAGR during forecast period.
• By Technology, bluetooth segment holds the largest market share and is growing with approximately ~18.95% CAGR by the end of forecast period.
• By End User, commercial sub segment holds the largest market share and is growing with approximately 20.33% CAGR by the end of forecast period.
• Geographically, North America region has been projected to hold the largest market share in global wireless audio device market whereas, Asia Pacific is expected to be the fastest growing region in the wireless audio device market.
Regional and Country Analysis of Wireless audio device Market Estimation and Forecast
On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. 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. Whereas, Asia-Pacific region is expected to grow at the highest rate owing to the growing technological advancements and increasing adoption of smartphones in the region.
Table of Content: Key Points
1 Executive Summary
2 Market Dynamics
3 Global Wireless Audio Device Market, By Product
4 Global Wireless Audio Device Market, By Technology
5 Global Wireless Audio Device Market, By End-User
6 Global Wireless Audio Device Market, By Region
7 Competitive Landscape
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