Global Market for Wireless Audio Device is Anticipated to grow at a Significant Pace i.e., USD 164.3 Billion during the Forecast Period 2022-2028

Published Date: May, 2022

The global wireless audio devices market is anticipated to have significant growth i.e. 17.3% CAGR during the forecast period 2022-2028. The growth of semiconductors and electronic gadgets has been aided by wireless technology.  The demand for sound bars, microphones, speakers, and headphones has skyrocketed, boosting the market dramatically. The market is being driven by growing penetration of infotainment devices, rising usage of mobile devices for seamless connectivity and easy accessibility of information and resources, and burgeoning applications of wireless audio devices in the commercial sector, such as events, exhibitions, contact centers, and others. Depending on the design, modern wireless audio devices can be powered by batteries or power connections. They provide flexibility, connectivity, ease, and expandability, as well as the ability to operate in the 520–1800 MHz vacant spectrum. Smartphone and tablet penetration is expanding rapidly due to changing consumer choices and behavioral trends. The shift in media attention to streaming services like Spotify, Deezer, and Pandora has propelled the wireless audio business to new heights. Music fans can enjoy a wide personal library of tunes via wireless audio devices at home or anywhere.

In June 2021, VOXX International Corporation, a global leader in automotive and consumer technology, announced that its wholly-owned subsidiary, Premium Audio Company, LLC, and Sharp Corporation have successfully formed a joint venture to acquire certain assets of Onkyo Home Entertainment Corporation's audio/video business. The transaction costs $30.8 million in total, plus the assumption of certain liabilities and future commission payments to Onkyo on specific product sales. Premium Audio Company will control around 75% of the JV, while Sharp will own approximately 25%.

The COVID-19 outbreak has had a huge impact on the wireless audio industry as the consumer electronics market was majorly impacted by the coronavirus. There was a temporary suspension of production of consumer electronics products like smartphones and tablets owing to strict lockdown measures taken by the government. This has resulted in a decline in demand for wireless audio devices like wireless headsets and headphones. The ongoing work from home culture and homeschooling are crucial factors to develop the wireless audio device market.

Browse 63 market data Tables and 40 Figures spread through 220 Pages and in-depth TOC on " Wireless Audio Device Market by Product (Headphones, Earphones, Speaker Systems, Headsets, Microphones, Soundbars, True Wireless Hearables/ Earbuds, and Others), by Technology (Smart Devices and Non-Smart Devices), by Functionality (AirPlay, Bluetooth, Wi-Fi, Bluetooth + Wi-Fi, Radio Frequency, and Others), by Application (Commercial, Consumer, Home Audio, Automotive, and Others), and Region - Global Forecast to 2028"

By product, the true wireless hearables is anticipated to have a high CAGR during the forecast period.

On the basis of product, the global wireless audio devices market is segmented into headphones, earphones, speaker systems, headsets, microphones, soundbars, true wireless hearables/ earbuds, and others. The true wireless hearables or earbuds are anticipated to have a high CAGR during the forecast period 2022-2028 due to the increased demand in the consumer segment and increased penetration of smartphones. Apple, SAMSUNG, Sony Corporation, and Bose Corporation are some of the industry players in the true wireless hearable category.

Global Wireless Audio Device Market Segmentation Analysis

Segment

Categorization

Leading Category

Product

 Headphones, Earphones, Speaker Systems, Headsets, Microphones, Soundbars, True Wireless Hearables/ Earbuds, and Others

Headphones (Largest)

Wireless Hearables (High CAGR)

Technology

Smart Devices and Non-Smart Devices

Smart Devices (Fastest)

Functionality

AirPlay, Bluetooth, Wi-Fi, Bluetooth + Wi-Fi, Radio Frequency, and Others

Bluetooth + Wi-Fi (Largest)

 

Application

Commercial, Consumer, Home Audio, Automotive, and Others

Consumer (Fastest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America

(Largest)

Asia-Pacific

(High CAGR)

 

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“APAC is anticipated to have a high CAGR in the wireless audio device industry during 2022-2028.”

APAC is anticipated to grow at a high CAGR during the forecast period 2022-2028 owing to the rising population, increased purchasing power parity of consumers, and surging adoption of innovative audio-related technologies. Furthermore, MNCs are setting up manufacturing plants in the APAC region owing to the extensive availability of raw materials and cheap labor, resulting in the growth of the wireless audio industry.

Some of the major players in the global Wireless Audio Device market include Apple Inc., SONY ELECTRONICS INC., HARMAN International, Sonos, Inc., Bose Corporation, Qualcomm Technologies, Inc., VOXX International Corp., Shure, Sound United, and Koninklijke Philips N.V.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2016–2028

Historical Period

2016–2021

Base Year

2021

Forecast Period

2022–2028

Segments Covered in the Study

Product, Technology, Functionality, Application, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Apple Inc., SONY ELECTRONICS INC., HARMAN International, Sonos, Inc., Bose Corporation, Qualcomm Technologies, Inc., VOXX International Corp., Shure, Sound United, and Koninklijke Philips N.V.

Global Wireless Audio Device Market Coverage

Product Insight and Forecast 2016-2028

  • Headphones
  • Earphones
  • Speaker Systems
  • Headsets
  • Microphones
  • Soundbars
  • True Wireless Hearables/ Earbuds
  • Others

Technology Insight and Forecast 2016-2028

  • Smart Devices
  • Non-Smart Devices

Functionality Insight and Forecast 2016-2028

  • AirPlay
  • Bluetooth
  • Wi-Fi
  • Bluetooth + Wi-Fi
  • Radio Frequency
  • Others

Application Insight and Forecast 2016-2028

  • Commercial
  • Consumer
  • Home Audio
  • Automotive
  • Others

Geographical Segmentation

Wireless Audio Device Market by Region

North America

  • By Product
  • By Technology
  • By Functionality
  • By Application
  • By Country – U.S., Canada, and Mexico

Europe

  • By Product
  • By Technology
  • By Functionality
  • By Application
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Product
  • By Technology
  • By Functionality
  • By Application
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Product
  • By Technology
  • By Functionality
  • By Application
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries