Huge Demand of Global Wireless Audio Device Market during 2021-2029
New Study Reports ” Wireless Audio Device Market 2021: Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast To 2029″ has been Added on PMR.
Report Overview
The report on the Wireless Audio Device Market provided based on the recent developments and data that has been collated from the previous year’s looks to provide a thorough understanding. The market overview provided in the initial section looks to provide the reader with adequate information regarding the product and services. It focuses on the market definition along with the product applications and end-user industries. The report covers a period spanning from 2021 to 2029. Competitive analysis and prominent industry trends have been included in the in-depth study provided in the main section of the report.
Global sales of wireless audio devices surpassed the market value of US$ 2.5 Bn in 2018, predominantly driven by rapid expansion of music industry and flourishing prospects of the music streaming space.
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To cater to increasing customer demand for online audio streaming, leading vendors of wireless audio devices are focusing on product innovation. Moreover, the market is recently witnessing introduction of innovative online music streaming services that offer high-definition (HD) and high resolution (Hi-Res) audio. This, as suggested by a new Persistence Market Research (PMR) study, will push the growth of wireless audio devices market over 2019 – 2029.
Apple recently unveiled its brand new AirPods Pro and Samsung already has its wireless Galaxy Buds. A brand like Realme is also set to launch its new wireless earbuds in certain Asian markets. A radical shift of industry from wired to wireless complements the projections that the gadget world will go wireless soon. As the global audio accessory space has been flooding with wireless earphones and pods that continue to garner massive interest from smartphone companies, the global market for wireless audio devices will be on an upward trend over the foreseeable future.
Key Players:
The report has profiled some of the Important players prevalent in the global like – Panasonic Corporation, Bose Corporation, Yamaha Corporation , Sony Corporation, JVC KENWOOD Corporation, Logitech International S.A, Marshall, Samsung Electronics, Panasonic Corporation, Sonos, boAtlifestyle.in, Philips and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Wireless Audio Device.
Key Takeaways – Wireless Audio Devices Market Study
- Exponential smartphone sales account for maximum demand for wireless earphones, which is projected for a striking CAGR during the forecast period.
- Rapid penetration of mobile devices supporting adoption of portable Bluetooth speakers would remain notably high in Asia Pacific.
- Discounted offers by leading online retailers on a wide variety of wireless audio devices significantly contribute to sales of wireless audio devices.
- Considerable adoption of wireless audio technology for applications such as in-car infotainment systems is also driving market growth.
- Pairing of various portable wireless speakers into a single device has been a trend when it comes to multi-room music distribution. In line with the surge in demand for multi-room music system, sales of wireless audio devices will also be on an upward trend in the near future.
- Customers are increasingly demanding a variety of music streaming features such as high audio quality, easy accessibility on multiple platforms, and playlist customization.
- The latest trend of truly wireless has been taking the industry by storm. Global leaders such as OnePlus are working with truly wireless earbuds, which would be available on the market in the near future.
New market entrants continue to focus on integrating the trending next-generation technologies such as Artificial Intelligent (AI) and Natural Language Processing (NLP) to offer advanced wireless audio devices at competitive prices. This would significantly push the adoption of wireless audio devices through the next decade.
Enhanced Wi-Fi Capabilities Arguing Well for Market Growth
Demand for wireless-enabled audio devices such as headphones, speakers, microphones, and sound-bars is increasing at a remarkable pace. Technological advancements in Wi-Fi capabilities like Wi-Fi direct with its multi-role, and multi-channel functionality tend to significantly enhance the user experience of their offerings in new generation of wireless audio devices category. Amazon Company introduced Alexa in September 2018 with an intent to offer entertainment features such as Amazon Music, TIDAL, new release notification, and right-left stereo pairing.
- For instance, in August 2019, the Bose Corporation, a leading manufacturer of wireless audio devices and software test solutions, introduced the portable home speaker with combine benefits of improved battery power, ease of voice control, etc.
- For instance, in January 2019, the KLIPSCH, announced the new product of small wireless in ear headphones that allows people to premium sound and listen comfortably solutions.
Key Stakeholders
Wireless Audio Device Market Manufacturers
Wireless Audio Device Market Distributors/Traders/Wholesalers
Wireless Audio Device Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Major Highlights of the Wireless Audio Device Market Report:
- The Wireless Audio Device Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
- The report dives deeper into the market and explains the dynamic factors bolstering market growth.
- The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
- The report analyzes the Wireless Audio Device Market presence across major regions of the world.
- It determines the production & consumption capacities and demand & supply dynamics of each regional market.
- The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
- It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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