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The wireless audio devices market size is forecast to increase by USD 57.89 billion, at a CAGR of 19.77% between 2022 and 2027. Market growth hinges on several factors, notably the convenience of wireless technology, the widespread adoption of smart devices, and the surge in demand for wireless audio streaming. The ease and flexibility offered by wireless solutions have become increasingly attractive to consumers and businesses alike, driving market expansion. With the proliferation of smart devices such as smartphones, tablets, and smart speakers, there's a natural integration and reliance on wireless connectivity, further fueling market growth. Additionally, the preference for streaming audio content wirelessly has become a dominant trend, influencing consumer choices and shaping market dynamics. These factors collectively contribute to the robust growth and evolution of the wireless technology market, reflecting changing consumer preferences and technological advancements.
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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
The market has experienced significant growth in recent years, driven by advancements in consumer lifestyles and requirements for connectivity and mobility. Smartphones and tablets have become the primary sources of audio content consumption, leading to the popularity of wireless headphones, earbuds, and other portable devices. Consumers seek high-quality wireless audio devices with features such as noise-cancellation, AI, machine learning, and sensory technology. Wireless audio devices have expanded beyond traditional headphones and earbuds to include wearable electronics like smartwatches and automotive infotainment systems. Brands like NVIDIA Triton, AWS Global Accelerator, and SensoryCloud are leveraging AI and machine learning to enhance user experiences. Streaming platforms such as Spotify and Apple Music continue to dominate the audio content landscape, driving demand. Moreover, the travel restrictions imposed by the pandemic have further boosted the market, allowing consumers to stay connected with family and friends while on the go. In-ear voice assistants like ChatGPT and AI-powered sensory technology are also gaining traction, offering hands-free control and personalized experiences. Overall, the market is poised for continued growth, driven by consumer electronics innovations and evolving consumer preferences. 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 market growth. The 21st century has witnessed the rise of wireless technology, revolutionizing the way we share data and consume media. This technology, which utilizes short-range radio waves, enables the transfer of multimedia content such as images, music, documents, and videos between smartphones, tablets, and other portable devices. With the abandonment of wired audio connectors in consumer electronics like smartphones, the demand for wireless audio gadgets is surging.
Moreover, consumer lifestyles and requirements are increasingly favoring connectivity, mobility, and convenience. Wireless audio machines, including headphones and speakers, are integral to this trend. 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 gadgets. 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. The advancement of technology has significantly transformed consumer lifestyles, leading to a shift in music consumption from physical media to cloud-based services. This trend is driving the demand for wireless audio gadgets, enabling users to access digital content stored on remote servers using smartphones, tablets, and other portable devices.
Moreover, with the increasing popularity of connectivity and mobility, consumer requirements for it to continue to evolve. Consumer electronics and wearable electronics companies are responding to these needs by introducing innovative wireless audio devices. Travel restrictions and the desire to connect with family and friends have fueled the growth of this market. Advances such as these are expected to propel the global market during the forecast period.
The need for high-speed internet connectivity may impede the market growth. The market is driven by consumer demand for technology integration with their smartphones, tablets, and portable devices. Consumer lifestyles and requirements prioritize connectivity, mobility, and seamless integration with consumer electronics and wearable electronics. However, limitations in network coverage and high-speed data, particularly in certain countries, hinder market growth.
Moreover, end-users connect wireless audio devices, such as headphones and speakers, to other devices via Bluetooth or Wi-Fi for home automation systems, including surveillance systems, smart lighting, and smart locks. Advanced technologies like AI, machine learning, and sensory integration are increasingly incorporated into it, such as in-ear voice assistants, smartphones, and smartwatches. These factors will impede the market growth during the forecast period.
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.
Market Customer Landscape
Companies 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 companies, including:
Qualitative and quantitative market growth analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the speaker systems segment will be significant during the forecast period. The market, including speakers and headphones, is experiencing significant growth due to the integration of advanced technology and increasing consumer lifestyles focused on connectivity and mobility. Smartphones, tablets, and other portable devices have become essential tools for consumers, driving the demand. Consumer requirements for convenience and flexibility have led to the widespread adoption.
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The speaker systems segment showed a gradual increase in market share from USD 13.11 billion in 2017 and continued to grow by 2021. Travel restrictions and the desire to connect with family and friends have further boosted the market. Artificial Intelligence (AI) and machine learning technologies are being integrated into it, such as in-ear voice assistants like ChatGPT, smartphones, and smartwatches. Automotive infotainment systems, NVIDIA Triton, gRPC, AWS Global Accelerator, and SensoryCloud are also adopting wireless audio technology. Streaming platforms like Spotify and Apple Music have made audio content more accessible than ever, leading to an increase in demand for wireless headphones and earbuds, such as Sony Corporation's WF-C700N with noise-cancellation features. Hence, such factors are fuelling the growth of the segment which in turn drives the market during the forecast period.
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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. The market in North America, which includes the US, Canada, and Mexico, is expected to lead the global market due to the region's high penetration of these devices. Fueled by the demand for fitness, sports, and entertainment devices, the market's growth is driven by technological advancements, such as Netflix and Hotstar streaming services, Bluetooth and wireless connectivity, and real-time features like Google Fast Pair, dual-channel transmission, gaming mode, and Multi-function Buttons (MFB). Millennials and Gen Z prefer eco-friendly materials, and they cater to this trend. Devices like Realme Buds Air offer Bluetooth and Wi-Fi connectivity, making them compatible with smart devices and voice assistants like Amazon Alexa, Google Assistant, and Apple Siri. Hence, such factors are driving the market in APAC during the forecast period.
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 market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
In the modern world of technology and connectivity, the demand for Wireless Audio Devices has significantly increased. Technology such as Smartphones, Tablets, and Computers have become an integral part of our daily lives, and the need for seamless audio experience is essential. Consumer preferences have shifted towards wireless audio solutions, such as Bluetooth headphones, speakers, and earbuds. Smartphones and other portable devices have made it convenient for consumers to enjoy their favorite music, podcasts, and audiobooks on-the-go. Consumer electronics companies like Apple, Sony, and Bose have introduced innovative wireless audio devices, such as AirPods, WH-1000XM4, and QuietComfort Earbuds, respectively. Moreover, the convenience of wireless audio devices is further enhanced by their ability to connect to multiple devices, long battery life, and advanced features like noise cancellation and voice assistants. The market is expected to grow at a CAGR of 11.3% from 2020 to 2027, with wireless audio devices being a significant contributor to this growth. In summary, the market is thriving due to the increasing demand for portable and convenient audio solutions, advanced features, and seamless connectivity with various 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 5.78 billion |
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 companies, Market Positioning of companies, 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 research and growth, Market forecasting, 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. |
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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
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