$69.6 Bn Wireless Audio Device Market - Global Forecast to 2026: Moving Beyond the Era of Using Headphones for Audio Only - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Wireless Audio Device Market with COVID-19 Impact Analysis Product, Technology (Bluetooth, Wi-Fi, Bluetooth+Wi-Fi, Airplay), Application (Home Audio, Consumer, Commercial, Automotive), Functionality and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The wireless audio device market size is projected to grow from USD 69.6 billion in 2021 and to reach USD 153.3 billion by 2026; it is expected to grow at a CAGR of 17.1% during the forecast period.

The key factors contributing to the growth of the market include a surge in global demand for infotainment devices and increased R&D expenditure by OEMs for the development of new and advanced wireless audio devices are some of the prominent factors for the growth of the wireless audio device market globally.

The market for true wireless audio device/earbuds could grow at the highest CAGR during the forecast period.

The true wireless hearables or earbuds segment is expected to witness exponential growth during the forecast period owing to the high demand for true wireless hearables among the consumer segment. The major player in the market, Apple (US), has a major market share in the true wireless hearables category. The other prominent players offering true wireless hearables are Samsung (South Korea), Bose Corporation (US), Sony Corporation (Japan), GN Group (Denmark), etc.

The gradual shift from wired audio devices to wireless audio devices has resulted in major demand for earbuds. Moreover, the significant penetration of smartphones has also facilitated the growth of true wireless hearables.

The market for Bluetooth technology is estimated to account for the largest share during the forecast period in the wireless audio device market.

The Bluetooth segment of the wireless audio device market is projected to grow at the highest CAGR during the forecast period. Audio streaming in wireless audio devices used in consumer electronics is carried out using Bluetooth technology. The growth of this segment can be attributed to the initiatives undertaken by manufacturers to increase the throughput of wireless audio devices equipped with Bluetooth technology that is used in consumer electronics.

The wireless audio device market in the APAC is expected to witness robust growth during 2021-2026.

The wireless audio device market in APAC is projected to grow at the highest CAGR from 2021 to 2026. APAC, being the most populated region in the world, is witnessing increased demand for consumer electronics, such as smartphones and tablets, thereby leading to the growth of the wireless audio device market in the region.

The growing penetration of smart devices is another factor driving the growth of wireless audio devices in the region. North America is the largest market in terms of market size owing to the offerings made by the established players such as Apple, Sonos, Bose Corporation, Sound United, etc.

The major players in the wireless audio device market are Apple (US), Bose Corporation (US), Sony Corporation (Japan), Harman International Industries (South Korea), Sonos (US), SoundUnited (US), Sennheiser (Germany), Vizio (US), VOXX International (US) and Zound Industries (Sweden).

Premium Insights

• Wireless Audio Device Market to Witness Lucrative Growth Opportunities from 2021 to 2026
• Bluetooth Segment Held the Largest Share of Wireless Audio Device Market in 2020
• True Wireless Hearables/Earbuds Segment of Wireless Audio Device Market to Grow at the Highest CAGR from 2021 to 2026
• Consumer Segment Projected to Hold the Largest Share of Wireless Audio Device Market in 2026
• Wireless Audio Device Market in India to Grow at the Highest Rate from 2021 to 2026

Market Dynamics

Drivers

• Surge in Global Demand for Infotainment Devices
• Rise in the Use of Wireless Audio Devices in the Commercial Sector
• Increased R&D Expenditure by OEMs for the Development of New and Advanced Wireless Audio Devices
• Digital Transformation Brought by the COVID-19 Pandemic

Restraints

• Restrictions on the Use of Radiofrequency Spectrum by Wireless Audio Equipment
• Health Issues Resulting from Prolonged Use of Audio Devices
• Hearing Impairment Resulting from Continuous and Prolonged Exposure to Audio
• Interference Caused by Wireless Audio Devices in the Functioning of Implanted Medical Devices

Opportunities

• Moving Beyond the Era of Using Headphones for Audio Only
• Tracking Health and Fitness of Wearers
• Controlling Electrical Appliances in Connected Homes
• Advent of Smart Speakers
• Increased Demand for Home Theaters and LCDs

Challenges

• Effect of Bandwidth Constraints, Coding Delays, and Bit Errors on Audio Quality

Industry Trends

Technology Analysis

• Next Generation of Bluetooth Audio
• Improvements in Voice AI and Machine Learning

Revenue Shift and New Revenue Pockets for the Wireless Audio Device Market

Patent Analysis

• Important Innovations and Patent Registrations, 2014-2020
• Number of Patents Granted from 2011 to 2020 for Wireless Audio Device

Tariff and Regulatory Landscape

Case Studies

• Partnership of Plantronics with Salesforce
• Deployment of Music System at Psalms of David Festival, Poland

Companies Mentioned

• Apple Inc.
• Boat Lifestyle
• Bose Corporation
• Bragi
• Dali
• Devialet
• Earin
• GN Group
• Harman International Industries
• Human Inc.
• Jam
• Jaybird
• LG
• Phazon
• Plantronics
• Sennheiser
• Shure
• Sonos
• Sony Corporation
• Sound United
• Trusound Audio
• Vizio
• Voxx International Corporation
• Yamaha Corporation
• Zound Industries

For more information about this report visit https://www.researchandmarkets.com/r/rvo8v0

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