Pune, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Market Analysis
The global Wireless Audio Devices Market is highly lucrative and predicted to witness significant growth at a 17% CAGR over the forecast period (2016-2027), reveals the Market Research Future (MRFR) report. Wireless audio devices get audio signals through RF or radiofrequency waves and not cables. Generally, they have two units- a sound outputting device or the main speaker connected with the RF transmitter and RF receiver. The transmitter is connected to the source where radio signals are created, and the receiver is attached to the speaker that gets the outputs audio and signals. The radio frequencies or transmission of signals can be attained using different wireless technologies like Wi-Fi, airplay, Bluetooth, or others.
Attractive Features that Bolster Market Growth
As per the Market Research Future report, there are numerous factors that are pushing the wireless audio devices market size. These include the growing implementation of wireless devices in the commercial sector like corporate, education, media, and entertainment for different purposes like auctions, news broadcasting, sports events, meetings, and conferences, growing need for wireless accessories with consumer electronic products, the growing use of wireless devices by the defense and security sector, demand for mobility services for effective connectivity such as wireless services, mobile devices, BYOD trend, cloud services, and increasing need for infotainment devices. Additional factors adding market growth include increased expenditure on research and development by OEMs to develop advanced and new wireless audio devices, technological advances and innovations in devices, an amalgamation of wireless audio device products with various applications like automotive, commercial, and consumer, preference of consumers for portable devices, and surging demand for smartphones.
On the contrary, issues associated with health such as brain cancer and hearing impairment, frequency compliance, frequency errors in sound quality, and improper effect of coding & bandwidth may deter market growth over the forecast period.
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COVID-19 Analysis
The COVID-19 crisis had a mixed effect on the wireless audio devices market. It had a major effect on the consumer electronics market. Various precautionary measures undertaken by the government, such as lockdowns and physical distancing, have led to the suspension of businesses temporarily and halt in the consumer electronics products production like smartphones and tablets. The lockdown has resulted in the reduction of sales of smartphones that are technologically advanced and led to a fall in demand for wireless audio devices like headphones and wireless headsets. Decreased production of wireless audio devices has also impacted the sales of the products. The wireless audio devices market has also been impacted by halted exports and supply chain disruptions, for China is the hub for finished goods and raw materials used to manufacture electronic products.
On the brighter side, with people being compelled to stay indoors due to the lockdown, there has been a rise in the usage of audio devices for entertainment. A growing demand has been experienced for video streaming platforms such as Hotstar, Netflix, and Amazon Prime. The rising trend of video content consumption and live video streaming online has automatically boosted the demand for audio devices. Further, home workouts, remote learning, and remote working have also boosted the need for audio products, which is projected to have a positive impact on the market growth.
Impact of COVID-19 on Wireless Audio Device Market:
https://www.marketresearchfuture.com/report/covid-19-impact-wireless-audio-device-market
Market Segmentation
The Market Research Future report provides an inclusive analysis of the wireless audio devices market based on end user, technology, and product.
By product, the global wireless audio devices market is segmented into wireless microphones, soundbars, wireless headsets, wireless speaker systems, and others. Of these, the wireless speaker systems segment will lead the market over the forecast period.
By technology, the global wireless audio devices market is segmented into airplay, Wi-Fi, Bluetooth, and others. Of these, the Bluetooth and Wi-Fi segments will dominate the market over the forecast period.
By end user, the global wireless audio devices market is segmented into security and defense, automotive, telecommunication, electronics, commercial, and others. Of these, the commercial segment will spearhead the market over the forecast period.
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Regional Segmentation
North America to Dominate Wireless Audio Devices Market
By region, the wireless audio devices market covers growth opportunities and the latest trends across Asia Pacific (APAC), Europe, North America, and Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. The availability of low-cost consumer equipment, the growing trend of smartphones, higher adoption of electronic devices, consumers high disposable income, rapid industrialization, the presence of top vendors and tech-savvy generation and increasing use of wireless audio devices across different enterprises are adding to the global wireless audio devices market growth in the region.
In the APAC region, the global wireless sound market is predicted to have sound growth over the forecast period. The presence of a well-established consumer electronics market, increasing population of middle-class consumers in Japan, India, and China, multinational companies setting up manufacturing plants in China for the wide availability of cheap labor and resources, presence of smartphone providers in China, increasing use of smartphones in India along with adaption of technology, growing adoption for wireless audio devices for its innovative features such as portability, easy manageability, and remote accessibility for audio communication, and increasing spending capabilities are adding to the global wireless audio devices market growth in the region.
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Notable Players in The Global Wireless Audio Devices Market Are:
- Samsung Electronics Co., Ltd (South Korea)
- Voxx International Corporation (U.S.)
- Apple Inc. (U.S.)
- Bose Corporation (U.S.)
- Vizio Holdings, Inc. (U.S.)
- Sonos, Inc. (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- LG Electronics (South Korea)
- Sennheiser Electronic Gmbh & Company Kg (Germany)
- and Sony Corporation (Japan)
- M&A
Browse Adjacent Markets: Consumer Electronic Devices Market Research Reports & Consulting.
Industry Updates
January 2021- boAt has joined hands with Dixon Technologies for twin wireless speakers.
January 2021- Sony has launched its latest 360 reality audio wireless speakers & video streaming service.
January 2021- Arrow has launched BX90 Pro, its latest wireless in-ear neckband headset.
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