Wireless Audio Device Global Market Report 2024

Wireless audio devices utilize wireless platforms, such as radio frequency waves, infrared, and AirPlay, for streaming music and other audio signals. These devices offer connectivity and flexibility across various devices, eliminating the need for physical wires to transmit audio signals. They are particularly popular for wireless music streaming to audio systems and other speakers.

The primary types of wireless audio devices include soundbars, wireless speakers, and wireless headsets and microphones. Soundbars are bar-shaped devices that typically house multiple speakers and are commonly used in conjunction with televisions, computers, mp3 devices, and other audio sources. Various technologies, such as Bluetooth, Wi-Fi, and AirPlay, are employed in these devices, and they find applications in commercial, consumer, automotive, and other settings.

The wireless audio device market research report is one of a series of new reports that provides wireless audio device market statistics, including wireless audio device industry global market size, regional shares, competitors with a wireless audio device market share, detailed wireless audio device market segments, market trends and opportunities, and any further data you may need to thrive in the wireless audio device industry. This wireless audio device market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The wireless audio device market size has grown exponentially in recent years. It will grow from $33.71 billion in 2023 to $42.46 billion in 2024 at a compound annual growth rate (CAGR) of 26.0%. The expansion observed in the historical period in the wireless audio devices market can be attributed to factors such as the growth in consumer demand for mobility, widespread proliferation of smartphones, the rise of streaming services, the increasing importance placed on digital audio quality, and the popularity of high-resolution audio. These factors collectively contributed to the growth of the wireless audio devices market during the historic period.

The wireless audio device market size is expected to see exponential growth in the next few years. It will grow to $101.71 billion in 2028 at a compound annual growth rate (CAGR) of 24.4%. The anticipated growth in the forecast period in the wireless audio devices market can be attributed to factors such as the widespread adoption of 5G connectivity, the integration of voice assistants in audio devices, the growing demand for gaming and virtual reality (VR) experiences, the emphasis on health and fitness features, and the increasing interest in augmented reality (AR) and mixed reality (MR) applications. Major trends expected in the forecast period include the popularity of True Wireless Stereo (TWS) earbuds, the incorporation of Active Noise Cancellation (ANC) technology, advancements in gaming and low-latency audio experiences, a focus on customization and personalization features, and increased integration with wearables.

The wireless audio device market is anticipated to experience growth due to the increasing adoption of wireless devices. Wireless devices, encompassing items like smartphones, routers, radios, tablets, Bluetooth mice, and keyboards, utilize radio signals for communication, eliminating the need for physical wires. The rapid surge in wireless device adoption is fostering a demand for wireless audio devices among consumers for entertainment purposes. According to DataReportal, the global number of smartphones in use is expanding at an annual rate of 5.7%, translating to approximately 1 million new smartphones used daily. Consequently, the uptick in wireless device adoption is a significant driver propelling the growth of the wireless audio device market.

The growth of the wireless audio device market is expected to be fueled by the increasing prominence of online gaming. Online gaming involves playing video games over the internet or a computer network, enabling real-time interaction among players. Wireless audio devices enhance the immersive gaming experience by providing clear, lag-free sound without the limitations of cables. As per Uswitch Limited, around 3.2 billion individuals worldwide engaged in online gaming in 2022, with projections indicating a surge to approximately 5.7 billion gamers by 2032, marking a 44% increase from 2022. Therefore, the rise in online gaming is a key driver for the wireless audio device market.

A notable trend gaining traction in the wireless audio device market is product innovation. Companies within the industry are actively developing new technologies and introducing innovative products to expand their customer base and meet evolving consumer demands. For example, in March 2021, Sonos, a US-based audio products manufacturing company, unveiled Sonos Roam, an ultra-portable, compact-sized smart speaker seamlessly connected to Wi-Fi at home and easily switched to Bluetooth when outdoors, allowing simultaneous connections to both networks.

Major players in the wireless audio device market are launching innovative technologies to address common challenges in wireless audio interactions. Qualcomm Technologies International, Ltd., a US-based Electrical and Electronic Manufacturing company, introduced Snapdragon Sound technology in March 2021. This technology enhances audio experiences across various devices, including smartphones, wireless earbuds, and headsets. Snapdragon Sound aims to provide seamless and immersive audio experiences, addressing challenges like glitches, latency, and audio dropouts. It supports high-resolution 24-bit 96kHz audio, ultra-low latency, improved pairing, and clear voice quality.

In October 2021, Audiotonix, a UK-based company specializing in audio mixing devices, acquired Sound Devices LLC for an undisclosed amount. This strategic acquisition extends Audiotonix's presence into the audio production market. Sound Devices LLC, a US-based company, is known for designing and manufacturing portable audio and video products.

Major companies operating in the wireless audio device market include Apple Inc., Boat Lifestyle, Bose Corporation, DEI Holdings Inc., Harman International Industries Inc., Koninklijke Philips N.V., LG Electronics Inc., Logitech International S.A., Plantronics Inc., Samsung Electronics Co. Ltd., Sennheiser electronic GmbH & Co. KG, Shure Incorporated, Sonos Inc., Sony Corporation, Vizio Inc., Voxx International Corporation, Masimo Corporation, Marshall Group, GN Store Nord A/S, Xiaomi Corporation, Bang & Olufsen A/S, Yamaha Corporation, Imagine Marketing Limited, JBL, Earin AB, Audiotonix Group, Sound Devices LLC, Jabra, Amazon.com Inc., Google LLC, Jaybird, Boston Acoustics Inc.

North America was the largest region in the wireless audio device market in 2023. Asia-Pacific is expected to be the fastest-growing region in the wireless audio device market report during the forecast period. The regions covered in the wireless audio device industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the wireless audio device market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The wireless audio device market consists of sales voice coil, magnet, amplifiers and cone. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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