According to a new market research report published by Credence Research “Wireless Speakers and Headphones Market (By Product – Wireless Earphones and Headphones; Bluetooth Speakers; Wi-Fi Speakers and Wireless Sound Bars) – Growth, Future Prospects, Competitive Analysis and Forecast 2017 – 2025”, the global wireless speakers and headphones market is expected to grow at a CAGR of 5.1% during the forecast period from 2017 to 2025.
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Market Insights
Increasing adoption of Wi-Fi and integration of various entertainment systems in households across the world have been driving the demand for wireless speakers and sound bars in the recent years. Factors such as ease of set-up coupled with hassle free wireless connectivity between devices have led to the consumer’s inclination towards wireless audio devices. Users connect such Bluetooth speakers and sound bars with their television sets and other multimedia systems to experience a rich and high quality audio output without having to replace their existing multimedia systems. In addition, with the rise of integrated home entertainment systems, users have been deploying numerous Wi-Fi speakers in different rooms within the same house. Thereby, users can ensure optimum sound quality in different rooms with numerous speakers connected to a single entertainment system over the same Wi-Fi network.
Competitive Insights:
The global wireless speakers and headphones market is fairly fragmented with numerous companies operating in the global market. The companies which are specifically manufacturing wireless speakers and headphones have been focusing on enhancing product design and features to gain higher popularity for their products. In addition, large manufacturers in the overall audio industry have been working towards incorporating their existing technology into their wireless products. Some of the key players in wireless speakers and headphones market include Apple, Inc., Bose Corporation, DEI Holdings, Inc., HARMAN International Industries, Inc., LG Electronics, Inc., Samsung Electronics Co., Ltd., Sennheiser Electronic GmbH & Co. KG, Sonos, Inc., Sony Corporation, VIZIO, Inc. and VOXX International Corp.
Key Trends:
- Increasing adoption of Wi-Fi speakers due to rising adoption of integrated home entertainment systems
- Rising number of niche wireless earphone manufacturers offering aesthetically enhanced products
- Leading flagship smartphone manufacturers such as Apple and Google switching from the traditional 3.5mm headphone
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