Enjoy complimentary customisation on priority with our Enterprise License!
The wireless audio devices market is estimated to grow at a CAGR of 19.77% between 2022 and 2027. The size of the market is forecast to increase by USD 57,887.46 million. The growth of the market depends on several factors, including the comfort of wireless technology, the growing penetration of smart devices, and the popularity of wireless streaming of audio content.
This report extensively covers market segmentation by product (speaker systems, headphones, and others), application (residential, commercial, and automotive), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
Download Wireless Audio Devices Market Sample Report
The convenience of wireless technology is notably driving the wireless audio devices market growth, although factors such as the need for high-speed internet connectivity may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The convenience of wireless technology is notably driving the wireless audio devices market growth. The emergence of wireless technology has been one of the technological advances in the 21st century. Short-range radio waves help in sharing data such as pictures, music, documents, and videos. They are also used in headphones and speakers to transfer signals, which help in sharing sound from a smart device to a wireless audio device.
Also, the cord-free feature of wireless audio devices is convenient for users. It offers mobility and a hands-free experience to continue doing any other task without hassles. Noise filtering, long-distance operations, multitasking, high-quality audio, reliability, and multitasking are some of the key features of wireless audio devices that are driving the market. Increasing penetration of smart devices The growing penetration of smart devices such as smartphones, tablets, laptops, smart TVs, streaming media players, and other multimedia devices is expected to drive the demand for supporting accessories such as wireless audio devices. Bluetooth headphones are widely preferred wearable connected devices that work in sync with smartphones.
The wireless audio market share will grow exponentially as manufacturers are implementing new ideas and manufacturing top-class products. Over the years, the wireless audio market has expanded from different angles in terms of product aesthetics, size, and features. Vendors are coming up with technologies to track health parameters using smart wearables. When it comes to audio devices, companies are also producing customized products to retain customers and expand their business. Noise-cancellation headphones are becoming well-renowned in the market as they can continuously measure, compare, and respond to external noise. The emergence of nanochip technology has boosted the development of wireless audio devices that can fit into human ears. Apple AirPods is a product that has contributed significantly to the miniaturization of wireless audio devices. Advances such as these are expected to propel the global wireless audio devices market during the forecast period.
Vendors are spending huge amounts on the R and D of wireless audio devices. They have successfully improved the battery life and efficiency of the devices compared with previous versions. They are also focusing on manufacturing wireless audio devices that are waterproof, suitable for outdoor use, and can withstand harsh conditions. Some of the noteworthy rugged wireless audio devices are Bose SoundLink Color, TREX Max A34, UE Megaboom, ECOXGEAR Eco Stone, Braven BRV-X, and Aukey SK-M4. These trends will help the wireless speakers market grow.
The need for high-speed internet connectivity may impede the wireless audio devices market growth. The need for complete network coverage and high-speed data is one of the factors that limit the growth of the global wireless audio devices market. For instance, smart speakers, which are connected to smart home automation devices, require reliable and high-speed Internet connectivity to function effectively. End-users rely on wireless Bluetooth or a Wi-Fi plugin to connect their smart audio devices, such as headphones and speakers, to other devices that are part of home automation systems, including devices such as surveillance systems, smart lighting systems, and smart locks. To achieve a reliable connection between smart speakers, headphones, and home automation devices, good Internet connectivity is required. Poor network coverage results in poor connection, no voice command, and an automatic disconnection from Wi-Fi. These issues can hamper the growth of the market.
Wireless audio can also lead to severe health problems and the wireless audio devices market industry has to come up with a solution for this challenge. The regular use and increased contact time with EMF radiations may severely affect head and brain tissues. The electromagnetic waves produced by wireless audio devices may lead to serious brain damage. The sustained use of wireless audio devices may lead to other health risks, such as hearing complications and hearing loss. When the volume exceeds 90 decibels, it could result in hearing loss. The use of wireless audio devices at high volumes can offer temporary as well as permanent hearing loss. In addition, the sharing of headphones among multiple users can cause ear contamination and infections. These factors will impede the market growth.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Wireless Audio Devices Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bose Corp. - The company has a wide range of product offerings, including headphones, and speakers such as portable, smart home, home theatre, and soundbars
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the speaker systems segment will be significant during the forecast period. Wireless speaker systems have an enhanced aesthetic appeal and numerous applications. One of the major factors that are positively influencing the growth of the segment is the increased penetration of wireless speakers among tourists. The demand for wireless speaker systems is increasing among tourists, especially the younger generation.
Get a glance at the market contribution of various segments Request a PDF Sample
The speaker systems segment showed a gradual increase in market share from USD 13,113.39 million in 2017 and continued to grow by 2021. Other major factors driving the growth of the segment are the increasing use of wireless speakers by tourists, the growing adoption of smart home devices and smart home automation, and the emergence of voice assistants and smart wireless speakers. Voice-activated smart speakers can listen, record, and respond to the user's commands. For instance, Alexa, Google Assistant, and Siri can perform tasks, such as turning off the TV and turning on the lights.
Get customized reports as per your requirements
APAC is projected to contribute 30% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
In 2021, North America was the largest segment of the global wireless audio devices market, and it is likely to remain dominant during the forecast period. The US, Canada, and Mexico are the major contributing countries in the region, adding to the demand for wireless audio devices. Though the consumer electronics industry in the Americas is moving toward saturation, the availability of fitness, sports, and entertainment wireless audio devices will fuel the growth of the wireless audio devices market in the region during the forecast period. The high penetration of wireless audio devices in the region is attributed to technological progress, which has accelerated their adoption. Most of the countries in the region are developed and considered technologically advanced. The high adoption rate of smart devices and multimedia gadgets is expected to propel the demand for wireless audio devices soon.
The COVID-19 crisis reduced the frequency of purchase of consumer electronics and increased the lead time for the delivery of orders. Limited availability of raw materials and components, restricted labour supply, and other supply chain-related costs were some of the challenges that most industry players faced. The lifting of lockdowns in various parts of the world since H1 2021 has significantly increased consumer demand for wireless audio devices, mostly through online channels.
Wireless Headphones market - The market share is projected to grow by USD 1.51 billion with a CAGR of 16.46% during the forecast period 2021 to 2026.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by type, product, distribution channel, and region.
Wireless Audio Devices Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 19.77% |
Market growth 2023-2027 |
USD 5,7887.46 million |
Market structure |
Fragmented |
YoY growth (%) |
13.95 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 30% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Apple Inc., Bose Corp., Earin AB, FKA Distributing Co. LLC, GN Store Nord AS, LG Electronics Inc., Masimo Corp., PHAZON, Plantronics Inc., Samsung Electronics Co. Ltd., Sennheiser Electronic GmbH and Co. KG, Shure Inc., Sonos Inc., Sony Group Corp., TruSound Audio, VIZIO Holding Corp. Inc., VOXX International Corp., Xiaomi Inc, Yamaha Corp., and Zound Industries International AB |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Stay updated on Wireless Speakers Market! Request PDF sample
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.