Status : Published Published On : May, 2022 Report Code : VRSME9114 Industry : Semiconductor & Electronics Available Format : Page : 220
2022
2028

Global Wireless Audio Device Market – Analysis and Forecast (2022-2028)
Industry Insight 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 Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)

Industry Overview

The global wireless audio device market is USD 69.3 billion in 2021 and is expected to reach unto USD 154.3 billion by 2028, registering a CAGR of about 17.3% during the forecast period from 2022 to 2028.

Wireless technologies, such as Wi-Fi, Bluetooth, and Air Play, are frequently used to transmit and receive various audio signals resulting in the growth of the global wireless audio devices industry. The main advantage of a wireless audio system is that there are no interconnecting wires, therefore there is less wear and tear of any component. Wireless headphones, microphones, speakers, sound bars, audio systems, radio tuners and other wireless audio equipments, are commonly used wireless audio devices.

Wireless Audio Device Market

These gadgets work as add-ons for smartphones, laptops, desktop computers, and gaming consoles. Wireless audio systems stream music from audio enabled devices to wireless output systems using wireless platforms such as radiofrequency, Bluetooth, infrared, airplay, SKAA, and Wi-Fi. They're utilized to stream media from audio-enabled devices to output systems in real-time. These devices also provide users with increased connectivity, flexibility, and convenience. As a result, they are widely used in the commercial, consumer, automotive, and defense sectors.

The COVID-19 pandemic has led to strict lockdowns resulting in forcing people to stay in their homes. This has increased the adoption of audio devices for entertainment in their homes. Moreover, there is an increased demand for video streaming platforms like Netflix, Amazon Prime, Hot star, etc., the rising trend in video content utilization through live video streaming over the internet, adoption of remote learning, remote working, and home workouts has increased the demand of audio as well as video devices.

Market Segmentation

Insight by Product

On the basis of product, the global wireless audio devices market is segmented into headphones, earphones, speaker systems, headsets, microphones, sound bars, true wireless hearables/ earbuds, and others. The headphones segment is predicted to have a massive market share because the audio data starts from a source, e.g., smartphone, and is wirelessly transmitted to a playback unit that comprises of a speaker and power amplifier.  Certain keys are used to control the playback unit.

Insight by Technology

On the basis of technology, the global wireless audio device market is sub-divided into smart devices and non-smart devices. As per the analysis Smart devices are expected to grow at a faster pace during the forecast period owing to technological development.

Insight by Functionality

On the basis of functions, the global wireless audio device market is classified into Airplay, Bluetooth, Wi-Fi, Bluetooth + Wi-Fi, Radio Frequency, and others. The Bluetooth + Wi-Fi contributes to the largest share in the market. There is a prominent rise in demand of wireless audio devices as they are cost-effective and portable. The unique combination of Wi-Fi and Bluetooth technologies on a single Integrated Circuit has contributed to its rising demand in the market. Consumers want ongoing connectivity in the appliances starting with their smartphones.

Insight by Application

On the basis of application, the global wireless audio device market is divided into commercial, consumer, home audio, automotive, and others. The consumer application is predicted to grow at a faster pace during the projected period owing to the increased adoption of headphones and headsets in consumer electronics like smartphones, computers, and gaming consoles. These smartphones may be used to play music through speakers wirelessly.

Wireless Audio Device Market Report Coverage

Report Metric

Details

Historical Period

2016–2021

Base Year Considered

2021

Forecast Period

2022-2028

Market Size in 2021

$69.3 Billion

Revenue Forecast in 2027

$154.3 Billion

Growth Rate

CAGR 17.3%

Segments Covered in the Report

By Product, By Technology, By Functionality, and By Application

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

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

 

Industry Dynamics

Industry Trends

The increased adoption of connected devices, heighten product innovations, emphasis on technological development, and rise in expenditure on semiconductors for wireless devices are the trends that are prevalent in the wireless audio device industry. The market is also growing due to increased use of wireless audio devices in the defense industry for secure and long-range communications.

Growth Drivers

The inflation in the demand of informative devices like televisions, PCs, mobile phones, laptops, tablets, and in-vehicle informative devices, and rising R&D activities by OEMs heightening of the global wireless audio device industry.  Individuals are interested in mobility solutions like cloud services, the BYOD movement, mobile devices, wireless services, and others.

The enhanced features of wireless audio devices, like portability, easy management and remote accessibility for audio communication, have given rise to popularity of wireless audio devices. Easy and speedy audio transmission, wireless operations and the convenience of installation have become a cause for the rise in demand of wireless audio devices. The wireless audio devices are being availed in mobile services and hence there is an increase in the demand of smartphones.

Also, the rising applications in various sector like education, media & entertainment, sports events, meetings, conferences, auctions, news broadcasting, etc. will further accelerate the market growth.

Challenges

The frequency range of audio devices is subject to stringent government norms such as device volume of more than 85 decibels (dB) and that too for more than 8 hours may impair users' hearing ability. The market's progress is hampered by these considerations. The concern regarding the delivery of high-quality audio, privacy and power consumption related issues, and negative health effects on children due to hearing loss or headache, owing to the usage of the wireless audio device for a longer period of time are some of the challenges faced by the wireless audio device market.

Opportunities

Rapid technological improvement and the growing need for convenience among customers, such as mobility and remote accessibility, would present considerable opportunities for market players in the global wireless audio device industry. Increased sound-bar installations, together with expanding prospects in the hotel and leisure sector, are likely to boost up the market growth.

Geographic Overview

North America dominates the wireless audio industry as the US is at the forefront in terms of the commercialization of novel technologies. Furthermore, increased popularity among consumers, rise in adoption of electronic devices, and importance of developed wireless technologies will propel the growth of the wireless audio device market in the region.

APAC is expected to have a high CAGR during the forecast period 2022-2028 in the wireless audio device market owing to the increased adoption in the consumer electronics sector, increase in economic growth, and rapid industrialization.

Competitive Insight

The market for wireless audio devices is highly fragmented since numerous manufacturers are joining the industry due to the low initial entry cost. The market is remarkably competitive, as a result of it leading market players are drafting a collaboration strategy with other industry leaders in order to discover and launch new solutions to fulfil consumers' growing demands.

Sound United was created in 2012 with a simple mission: to spread joy via music. Today, they are one of the world's largest audio portfolio companies, with Bowers & WilkinsTM, Denon®, Marantz®, Polk Audio, Classé, Definitive Technology, HEOS, and Boston Acoustics® among its renowned brands. Each brand has its own concept and strategy to bring entertainment into the house. Sound United manages the design and manufacture of a wide range of luxury audio equipment’s, including loudspeakers, soundbars, AV receivers, wireless speakers, amplifiers, and headphones.

HARMAN International is a world leader in connected car technology, lifestyle audio, professional audio and lighting solutions, as well as design and analytics. Audiophiles, musicians, and the entertainment venues where they play throughout the world admire HARMAN's renowned brands, which include AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon®, Mark Levinson®, and Revel®. Personal audio solutions from HARMAN are among the best in the market.
In October 2021, Apple launched the third version of AirPods, which include spatial audio and come in a redesigned contoured shape with advanced features and a magical experience. The new AirPods use computational audio to create breakthrough sound with Adaptive EQ by combining the capabilities of the H1 chip with an Apple-designed acoustic system. Users can enjoy Dolby Atmos spatial audio in Apple Music, movies, and TV shows, as well as dynamic head tracking, on all of their Apple devices. The new AirPods are sweat and water-resistant, and they have a force sensor for easy and intuitive music and phone call management. With the easy charging case, one can get up to six hours of listening time1 and up to 30 hours of total listening time.

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%.

Some of the major players in the wireless audio device industry 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.

Region Covered in the Report

•    North America

- U.S.
- Canada
- Mexico

•    Europe

- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe

•    Asia-Pacific (APAC)

- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific

•    Rest of the World (RoW)

- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries

Frequently Asked Questions

The global wireless audio devices market is anticipated to have significant growth i.e. 17.3% CAGR during the forecast period 2021-2027.
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 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
APAC is anticipated to grow at a high CAGR during the forecast period 2021-2027 owing to the rising population, increased purchasing power parity of consumers, and surging adoption of innovative audio-related technologies.
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.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle

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