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Wireless Audio Device Market : Global Demand Analysis & Opportunity Outlook 2024

Published On : 09:40 AM, 14th September, 2017 REP-ID-369 Category: ICT & Electronics

Wireless Audio Device Market Overview

A wireless audio device is an electronic device which receives and transmits various sound signals with the help of different technologies, namely Bluetooth, Wi-Fi, air play and others. A wireless audio device offers connectivity, flexibility, expandability and convenience. Head phones, speakers, audio systems, radio tuners are some of the wireless audio device present in the market. Wireless audio device are being used in many sectors such as transportation, industries, commercial, residential and others.

Market Size & Forecast

Global wireless audio device market is anticipated to flourish at a compound annual growth rate (CAGR) of 26.1% over the forecast period 2017-2024. The global wireless audio device market is projected to reach at a valuation of about USD 24.2 Billion by the end of 2024. Rising adoption for infotainment devices, increase in demand for mobile and its accessories and rapid urbanization are some of the key factors which are driving the global market of wireless audio device market.

Geographically, global wireless audio device market is segmented into North America, Asia Pacific, Europe, Middle East & Africa and Latin America region.

wireless audio devices

North America region accounted for the highest market share, with more than 40% share in overall wireless audio device market. North America region is likely to drive the global wireless audio device market due to higher adoption of electronic devices and high income of the consumers in this region.

Developing economics such as India, China and others in Asia Pacific region has boosted the growth rate of wireless audio device market in this region. Increasing demand for infotainment devices and mobility services are the anticipated to drive the wearable audio device market over forecast period 2017-2024.

Over the past few years, wireless audio devices have faced many transformations. Leading market players are developing high resolution wireless audio devices with improved sound quality. Latin America and Middle East & Africa regions are also anticipated to witness a satisfactory growth in near future.

Market Segmentation

Our-in depth analysis of the global wireless audio devices market includes the following segments:

By Product Type                                                                      

  • Wireless Headsets & Microphones
  • Wireless Speaker Systems
  • Sound Bars
  • Others (A/V receivers, Power Amplifiers etc.)

By Technology

  • Bluetooth
  • Wi-Fi
  • Airplay
  • Others

By Application

  • Commercial
  • Consumer
  • Automotive
  •  Others (Defense & Security)

By Region

Global wireless audio device market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis.

Growth Drivers & Challenges

Development of new technologies in wireless audio device sectors has been attracting the consumers and thus, propels the demand for wireless audio devices. Rise in adoption for infotainment device and mobility services are some of the major drivers of the global wireless audio devices market.

The compatibility of modern wireless audio devices with other technologies such as mobile phones, computer, laptop, tablet and other devices is a major reason for the rise in demand for the wireless audio devices.

Increasing purchasing power of the consumers and their willingness to purchase new and advance technologically driven products has sparked the demand for wireless audio devices. The wireless audio devices are being used in almost every sector like in automobiles, residential, defense & security, commercial and others

However, compatibility of wireless audio devices with every enhancement in other technology including mobiles, laptops, tablet and other is one of the major challenges to the wireless audio device manufacturers. Apart from that, the presence of local vendors in market has affected the overall revenue of the global market. Their cheap quality and low price product offering is reducing the market share of the organized players.

Key Players  

  • DEI Holdings Inc.
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Harman International Inc.
  • Koninklijke Philips N.V.
  • Sony Corporation
  • VOXX International Corporation
  • Apple Inc.
  • Beats Electronics
  • Bose
  • Samsung Electronics
  • Altec Lansing
  • Anvera
  • Braven
  • Denon Electronics
  • Jawbone
  • JVC Kenwood

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global wireless audio devices market is segmented as follows:

  • By Product Type Market Size & Y-O-Y Growth Analysis
  • By Application Market Size & Y-O-Y Growth Analysis
  • By Technology Type Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

Key Answers Captured in Report?
Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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