Wireless Audio Market by Product (Speaker, Soundbar, Headset, Headphone, Microphone), Technology (Bluetooth, Wi-Fi, Airplay, RF), Application (Home Audio, Consumer, Commercial, Automotive), and Region - Global Forecast to 2023
“The wireless audio market to grow at a CAGR of 10.06% between 2017 and 2023”
The wireless audio market is expected to grow from USD 16.13 billion in 2016 to USD 31.80 billion by 2023, at a CAGR of 10.06% between 2017 and 2023. The major factors driving the growth of the wireless audio market include smartphones as a source of entertainment, consumer preferences for portable devices, and advancements in wireless technologies. However, compliance issues in operating frequency, and negative health effects on children and other user groups are the major factors restraining the growth of the wireless audio market.
“The Bluetooth technology to hold the largest size of the wireless audio market by 2023”
The wireless audio market for Bluetooth will witness a significant growth in the coming years, with initiatives underway for a higher throughput, more ubiquitous usage, and links with Wi-Fi and ultra-wideband (UWB) broadcast technologies. In addition, the Bluetooth technology makes it easy for advanced electronics devices to interact with one another without relying on traditional wired connection.
“Wireless audio market in APAC to grow at a high rate between 2017 and 2023”
The wireless audio market APAC region is likely to grow at a high rate between 2017 and 2023. The market for consumer electronics, including smartphones, tablets, and wireless audio devices, in APAC is increasing rapidly with a high rate of development in most of the countries in this region. In addition, factor such as rising urbanization, individuals’ acceptance for the developments based on innovative technologies, and increasing popularity of streaming music services are contributing to the growth of the wireless audio market in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry people. The breakup of the profile of primary participants has been given below:
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40%
• By Region: North Americas – 45%, Europe – 17%, APAC – 30%, and RoW – 8%
The report profiles the top players in the wireless audio market, along with providing their respective market ranking analysis. Prominent players such as Bose Corporation (US), Sonos. Inc. (US), Harman International Industries, Incorporated (US), Apple Inc. (US), and Sony Corporation (Japan) have been profiled in this report.
• The wireless audio market, by product, includes speaker systems, soundbars (active and passive soundbars), headsets (traditional headsets and wireless earbuds), headphones, and microphones.
• The wireless audio market, by technology, covers Bluetooth, Wi-Fi, Radio Frequency (RF), Bluetooth +Wi-Fi, and AirPlay.
• The wireless audio market, by application, comprises home audio, consumer (smartphones, laptops/computers, gaming consoles) commercial, and automotive
• The geographic analysis has been done with regard to—the Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
Reasons to Buy This Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market ranking analysis of top players, value chain analysis; company profiles that discuss basic views on the competitive landscape, emerging and high-growth segments of the wireless audio market, high-growth regions, and market dynamics such as drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Market penetration: Comprehensive information on wireless audio products offered by the top players in the wireless audio market
• Market development: Comprehensive information about lucrative emerging markets—the report analyzes the market for wireless audio across regions
• Market diversification: Exhaustive information about new products, untapped geographies, and recent developments, in the overall wireless audio market
• Competitive assessment: In-depth assessment of market ranking analysis, strategies, products, and leading players in the wireless audio market
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