The Wireless Audio Device Market is projected to reach from USD 56.5 billion in 2024 to USD 70.9 billion by 2029; it is expected to grow at a CAGR of 4.7% from 2024 to 2029. Consumers are becoming increasingly aware of smart gadget features, components, and value propositions. This empowers individuals to make better purchasing judgments. The popularity of smart voice assistants originates from their capacity to improve users' daily lives in a practical and enjoyable manner. Encouragement and social interaction influence user happiness with AI-enabled products. Smart speakers' broad adoption opens up new potential for radio to improve its technological reach and broadcasting, and also to grow into podcasting and in-car audio.
Key players operating in the wireless audio device market are Apple Inc (US), SAMSUNG (South Korea), Bose Corporation (US), Sonos, Inc. (US), Sony Corporation (Japan).
Key players operating in the wireless audio device market are Apple Inc (US), SAMSUNG (South Korea), Bose Corporation (US), Sonos, Inc. (US), Sony Corporation (Japan).
The true wireless hearable/earpods is projected to grow at the highest CAGR during the forecast period.
The market is driven by continuous developments in characteristics such as noise reduction, gesture controls, audio assistance, audio quality, lifespan of batteries, and connection. The potential to create an immersive, three-dimensional listening experience is growing into a popular attribute among consumers when selecting earbuds. The increased popularity of smartphones is boosting the TWS earbuds market, because they are commonly sold as smartphone accessories.The Bluetooth technology is projected to have the highest growth during the forecast period.
The use of Bluetooth is gaining popularity for various compelling reasons, including its adaptability, efficiency, and ongoing innovation. Bluetooth has proven its position as an important technology in a variety of industries, including audio, healthcare, smart homes, and industrial IoT. The ability to offer wireless communication between devices makes it indispensable for advanced technologies. Bluetooth's low power consumption is one of its most distinguishing characteristics. The efficiency is especially important for battery-powered devices, which may operate for a longer period of time without the need for frequent recharging.Asia Pacific region is likely to register highest CAGR.
Rapid development in Asia-Pacific countries is contributing to a more independent lifestyle. Consumers want audio solutions that are convenient for their on-the-go activities, such as commuting or working out. Wireless audio devices meet this desire by offering the option of unattached listening. As disposable incomes improve in many Asia-Pacific countries, people are more prepared to invest in technological goods, such as wireless audio devices. Consumers are also drawn to the visual appeal and range of styles available on the market, which allows them to select products that match their unique style.Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type - Tier 1 - 18%, Tier 2 - 22%, Tier 3 - 60%
- By Designation - C-level Executives - 21%, Directors - 35%, Others - 44%
- By Region - North America - 45%, Europe - 20%, Asia Pacific - 30%, RoW - 5%
Research Coverage:
The report segments the wireless audio device market and forecasts its size by product, technology, application, functionality, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions - North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the wireless audio device ecosystem.Key Benefits to Buy the Report:
- Analysis of Key Drivers (Surge in demand for truly wireless (TWS) earbuds and headphones, Adoption of wireless audio devices in commercial sector, Rising need for Bluetooth and portable speakers). Restraints (Restrictive radio frequency spectrum in audio equipment, Hearing impairment from prolonged use of headphones and earbuds, Interference caused by wireless audio devices in functioning of implanted medical devices). Opportunities (Gaining popularity among health and fitness sector, Advent of Bluetooth LE Audio, Integration of smart home assistants and home theaters) and Challenges (Compromising audio quality due to bandwidth constraints, coding delays, and errors).
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the wireless audio device market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the wireless audio device market across varied regions.
- Market Diversification: Exhaustive information about new solutions, untapped geographies, recent developments, and investments in the wireless audio device market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Apple Inc (US), SAMSUNG (South Korea), Bose Corporation (US), Sonos, Inc. (US), Sony Corporation (Japan) among others in the wireless audio device market.
Table of Contents
1 Introduction
2 Research Methodology
4 Premium Insights
5 Market Overview
6 Wireless Audio Device Market, by Product
7 Wireless Audio Device Market, by Technology
8 Wireless Audio Device Market, by Functionality
9 Wireless Audio Device Market, by Application
10 Wireless Audio Device Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
List of Tables
List of Figures
Companies Mentioned
- Apple Inc.
- Harman International (Subsidiary of Samsung Electronics)
- Xiaomi
- Sony Corporation
- Imagine Marketing Limited
- Bose Corporation
- Sonos, Inc.
- Masimo
- Sennheiser Electronic SE & Co. KG
- Vizio, Inc.
- Voxx International Corp.
- Marshall Group Ab
- Yamaha Corporation
- Lg Electronics
- Bang & Olufsen
- Gn Store Nord a/S
- Plantronics, Inc.
- Shure
- Dali
- Jaybird
- Anker Innovations
- Razer Inc.
- Hp Development Company, L.P.
- Edifier
- Nothing Technology Limited
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 250 |
Published | August 2024 |
Forecast Period | 2024 - 2029 |
Estimated Market Value ( USD | $ 56.5 Billion |
Forecasted Market Value ( USD | $ 70.9 Billion |
Compound Annual Growth Rate | 4.7% |
Regions Covered | Global |
No. of Companies Mentioned | 25 |