The global wireless audio devices market is anticipated to grow at a CAGR of around 19.2% during the forecast period 2021 to 2028 and to reach around US$ 193.5 Bn by 2028.
Increasing consumer spending on consumer electronics and rising demand for infotainment systems are major factor expected to driven the growth of global market. In addition, increasing demand for smart electronic devices such as headphones, microphones, speakers, sound bars, and audio systems, radio tuners, and others, rapid technological advancements by major players, and approach towards development of wireless devices are major factors expected to driven the growth of target market.
Major players are focused on enhancing the business presence through strategic merger & acquisition and partnerships in order to enhance the product portfolio this is expected to boost the growth of target market.
In 2020, HRX partnered with Flipkart Group in order to launch their very first range of audio devices. The product range comprises wireless earbuds, two types of neckband headphones, Bluetooth earphones and a portable Bluetooth speaker. This is expected to help the company to enhance the customer base.
In 2018, Sound Devices a global leader in portable and installed production sound and video products for a wide range of professional applications acquired Audio Limited. This acquisition is expected to help the company to enhance the customer base and business presence.
In 2016, Logitech International S.A. a manufacturer of computer peripherals and software acquired Jaybird. The acquisition was worth US$ 50 Mn and is expected to help the company in growth of audio and music-listening products.
In addition, high investment by major players for R&D activities and approach towards introduction of innovative solutions are other factors expected to support the growth of target market.
In 2020, Xiaomi Corporation a global company producing quality products at honest pricing launched Redmi AirDots S new wireless audio product. This product launch is expected to help the company to enhance the customer base.
In 2019, Lenovo a multinational technology company launched HT10 TWS flagship airbuds, bluetooth headsets and a digital voice recorder.
In 2019, Sound One launched V9 Bluetooth wireless headphones that comes with Bluetooth 5.0 technology and has a range of up to 33 feet. This is expected to attract new customer and enhance the profit ratio of the company.
However, factors such as of high cost of devices and stringent government regulations related to product approval are expected to hamper the growth of global market. In addition, side effect of the frequency in ears is expected to challenge the growth of target market.
Advancements is wireless products by major players and approach towards integration of features such as health tracker and controlling of connected home appliances along with innovative product offerings are factors responsible to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnership and agreements between regional and international players is expected to support the revenue transaction of the target market.
Segment Analysis by Region
The market in North America is expected to account for significant revenue share owing to rising demand form smart devices that provide more flexibility and connectivity as compared to old devices. In addition, presence of large number of players operating in the country and innovative product offerings is expected to support the growth of target market.
Business development activities by major players through merger & acquisitions and approach towards increasing the consumer reach through adoption of online sale are factors responsible to impact the target market growth.
The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Global Wireless Audio Devices Market
2017 - 2028
2021 - 2028
Product, Technology, Distribution Channel, Application, and Geography
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Wireless Audio Devices Market Segment Analysis, 2020
The global market is segmented into product, technology, distribution channel and application. The product segment is bifurcated into wireless headsets & microphones, wireless speaker systems, sound bars, and others. Among product the wireless headsets & microphones is expected to account for significant revenue share in the target market due to high consumer spending on smart electronic devices.
The technology segment is further divided into bluetooth, Wi-Fi, airplay, and others and the airplay is expected to witness faster growth in the global market over the forecast period. Among the distribution channel the online segment is expected to account for major revenue share owing to high consumer preference of online buying.
The players profiled in the report are Shure, Bose Corporation, Vizio Inc., Sennheiser Electronic GmBH, Koninklijke Philips N.V., DEI Holdings Inc., Sony Corporation, Philips Electronics Corporation, Logitech International SA, Avnera Corporation, Apple Inc., Harman International Inc., Sonos Inc., and VOXX International Corporation.
Market By Product
Wireless Headsets & Microphones
Wireless Speaker Systems
Market By Technology
Others (Sonos and SKAA)
Market By Distribution Channel
Market By Application
Others (Defense & Security)
Market By Region
The global wireless audio devices market in 2027 is expected to be above US$ 192.5 Bn.
In application segment the commercial segment is growing at faster pace.
The CAGR of the global wireless audio devices market from 2020-2027 is above 18.9%.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are Avnera Corporation, Apple Inc., Harman International Inc., Sonos Inc., and VOXX International Corporation.
The report provides insights on global wireless audio devices market segment by product, technology, distribution channel, application and major geographic regions.
The market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).