Use of Portable Electronic Devices for Entertainment, Drives Wireless Audio Devices Market

By admin | January 18, 2019 |

The global wireless audio devices market was valued at US$6.92 bn in 2014 and is forecast to grow at a CAGR of 24.2% from 2015 to 2022.

Wireless audio devices are gadgets that use wireless technology such as Wi-Fi or Bluetooth for audio playback. The global wireless audio devices market was valued at US$6.9 bn in 2014. In present times, one of the major uses of portable devices such as smartphones and tablets is for entertainment purposes, due to their compatibility with Bluetooth and Wi-Fi technologies for accessing audio content wirelessly. The utilization of wireless soundbars for receiving audio content, which does not require cables and connections, is boosting the use of wireless audio devices for domestic entertainment needs. From the looks of it, the wireless audio devices market is slated to reach a valuation of US$38.5 bn by 2022, rising at a whopping 24.20% CAGR from 2015 to 2022.

Higher Convenience of Wireless Audio Devices Accounts for Growth of Global Market

The global market for wireless audio devices is divided on the basis of product, application, technology, and geography.By product, wireless speaker systems, wireless headphones, wireless soundbars, and wireless microphones are the segments of the wireless audio devices market. Out of these, wireless headphones were the leading product segment in 2014, accounting for more than 25% of the overall market for wireless audio devices. Wireless headphones present the convenience of Bluetooth connectivity, compactness, longer battery life, and often noise cancellation, which are driving demand for wireless headphones. In emerging economies, increasing disposable incomes have led to the surging demand for newer electronics such as wireless headphones for the sense of music-on-the-go.

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On the basis of technology, Bluetooth and Wi-Fi are the two major segments into which the wireless audio devices market is divided. Among the two, Bluetooth technology is widely used across a large number of devices such as smartphones, tablets, high-definition headsets, modems, console gaming equipment, media players, robotics systems, watches, and laptops. Other than these, Sonos, PlayFi, and AirPlay are some other technologies used for receiving and sending audio signals.

Wireless Audio Devices Suitable for Congregational Need of Corporations

Commercial, personal, and others (defense and automotive) are the key application segments of the wireless audio devices market. By revenue, it is the commercial sector that accounts for the largest revenue contribution to the market. In large corporations, wireless technology is a part and parcel of everyday operations. In this regard, wireless microphones are extensively used for seminars and conferences in these organizations. Wireless soundbars are also used for playing audio content in large meeting halls of corporations.

On a geographical consideration, North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa are the regional segments of the wireless audio devices market. In 2014, North America, Asia Pacific, and Europe were the key contributors to the market, with North America solely accounting for 29% of the market. In the coming years, the Middle East and Africa and Latin America regions are poised to exhibit significant demand for wireless audio devices due to rising living standard in these regions.

Some of the major companies operating in the global wireless audio devices market are Bose Corporation, Sennheiser Electronic GmbH, Apple Inc., Harman International, Sony Corporation, and Koninkiljke Philips N.V., DEI Holdings, Polk Audio, VOXX International, and Vizio Inc.