Wireless Audio Device Market - Global Forecast to 2028: Market to Grow by Over $100 Billion with True-Wireless Segment Leading
Global Wireless Audio Device Market
Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Wireless Audio Device Market by Product (Headphones, True Wireless Hearables/Earbuds, Speaker) Technology (Bluetooth, Wi-Fi, Airplay), Application (Home Audio, Consumer, Professional, Automotive), Functionality and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global wireless audio device market was valued at USD 58.5 billion in 2023 to USD 159.3 billion by 2028; it is expected to grow at a CAGR of 22.2% from 2023 to 2028
The report segments the wireless audio device market and forecasts its size by product, technology, functionality, application, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions- North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the wireless audio device ecosystem.
The expansion of the wireless audio device market is being driven by the increasing utilization of wireless audio devices within households, the global surge in the adoption of wireless headphones, and rising consumer demand for such wireless audio devices. The consumer electronics segment including smartphones, computers, and gaming consoles, utilize wireless audio devices like headphones and headsets. The growing prevalence of technologically advanced smartphones has generated a heightened need for wireless headphones and headsets.
The wireless audio device market is dominated by a few globally established players such as Apple Inc (US), HARMAN International (South Korea), Bose Corporation (US), Sonos, Inc. (US), Sony Corporation (Japan), Masimo (US), Sennheiser electronic GmbH & Co. KG (Germany), VOXX International Corp.(US), VIZIO, Inc. (US), Marshall Group (Sweden). The study includes an in-depth competitive analysis of these key players in the wireless audio device market, with their company profiles, recent developments, and key market strategies.
The true wireless hearables/earbuds product is projected to grow at the highest CAGR during the forecast period.
True wireless hearables/earbuds are projected to grow at the highest CAGR during the forecast period. True wireless earbuds deliver a cord-free listening experience, removing the necessity for tangled cables.
They also feature a compact and easily portable design, enhancing their suitability for users with active lifestyles. The combination of convenience, technological advancements, versatile capabilities, and user-friendly features has made true wireless earbuds widely accessible and appealing, resulting in their rapid adoption by a global consumer base.
The Bluetooth technology is projected to grow at the highest CAGR during the forecast period.
The Bluetooth technology will likely grow at the highest CAGR during the forecast period. Bluetooth technology serves as a vital component in the Internet of Things (IoT) ecosystem, enabling communication among diverse smart devices, including audio equipment, within smart homes and similar environments.
With ongoing advancements in Bluetooth technology within these domains, it retains its position as the favored wireless communication standard for audio devices, thereby playing a significant role in fueling the expansion of the wireless audio device market.
Asia Pacific region is likely to grow at the highest CAGR.
The Asia-Pacific region, known for its status as the most densely populated in the world, is experiencing a surge in demand for consumer electronics like smartphones and tablets. This surge is a significant driver behind the expansion of the wireless audio device market in this region. Additionally, the increasing prevalence of smart devices is another key factor contributing to the growth of wireless audio devices in Asia Pacific.
Key Benefits to Buy the Report:
Analysis of Key Drivers (Surge in global demand for Truly Wireless (TWS) earbuds and headphones, Rise in the use of wireless audio devices in the commercial sector, Consumers rising interest in rich video content is pulling demand for wireless compact devices). Restraints (Restrictions on the use of radio frequency spectrum by wireless audio equipment, Restrictions on the use of radio frequency spectrum by wireless audio equipment). Opportunities (Restrictions on the use of radio frequency spectrum by wireless audio equipment, Advent of Bluetooth LE Audio, Increased demand for home theaters and LCDs) and Challenges (Effect of bandwidth constraints, coding delays, and bit errors on audio quality).
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the wireless audio device market.
Market Development: Comprehensive information about lucrative markets - the report analyses the wireless audio device market across varied regions
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the wireless audio device market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Apple Inc (US), HARMAN International (South Korea), Bose Corporation (US), Sonos, Inc. (US), Sony Corporation (Japan) among others in the wireless audio device market.
Key Attributes:
Report Attribute | Details |
No. of Pages | 217 |
Forecast Period | 2023 - 2028 |
Estimated Market Value (USD) in 2023 | $58.5 Billion |
Forecasted Market Value (USD) by 2028 | $159.3 Billion |
Compound Annual Growth Rate | 22.2% |
Regions Covered | Global |
Companies Mentioned
Apple Inc.
Bang & Olufsen
Bose Corporation
Dali
Gn Store Nord A/S
Imagine Marketing Limited (Boat Lifestyle)
Jaybird
Lg Electronics
Marshall Group (Zound Industries)
Masimo
Plantronics, Inc.
Samsung (Harman International)
Sennheiser Electronic GmbH & Co. KG
Shure
Sonos, Inc.
Sony Corporation
Vizio, Inc.
Voxx International Corp.
Xiaomi
Yamaha Corporation
For more information about this report visit https://www.researchandmarkets.com/r/qfva9s
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