The global wireless audio devices market is anticipated to grow at a CAGR of around 19.2% during the forecast period 2021 to 2028 and to reach around US$ 193.5 Bn by 2028.

Market Dynamics

Increasing consumer spending on consumer electronics and rising demand for infotainment systems are major factor expected to driven the growth of global market. In addition, increasing demand for smart electronic devices such as headphones, microphones, speakers, sound bars, and audio systems, radio tuners, and others, rapid technological advancements by major players, and approach towards development of wireless devices are major factors expected to driven the growth of target market.

Major players are focused on enhancing the business presence through strategic merger & acquisition and partnerships in order to enhance the product portfolio this is expected to boost the growth of target market.

In 2020, HRX partnered with Flipkart Group in order to launch their very first range of audio devices. The product range comprises wireless earbuds, two types of neckband headphones, Bluetooth earphones and a portable Bluetooth speaker. This is expected to help the company to enhance the customer base.

In 2018, Sound Devices a global leader in portable and installed production sound and video products for a wide range of professional applications acquired Audio Limited. This acquisition is expected to help the company to enhance the customer base and business presence.

In 2016, Logitech International S.A. a manufacturer of computer peripherals and software acquired Jaybird. The acquisition was worth US$ 50 Mn and is expected to help the company in growth of audio and music-listening products.

In addition, high investment by major players for R&D activities and approach towards introduction of innovative solutions are other factors expected to support the growth of target market.

In 2020, Xiaomi Corporation a global company producing quality products at honest pricing launched Redmi AirDots S new wireless audio product. This product launch is expected to help the company to enhance the customer base.

In 2019, Lenovo a multinational technology company launched HT10 TWS flagship airbuds, bluetooth headsets and a digital voice recorder.

In 2019, Sound One launched V9 Bluetooth wireless headphones that comes with Bluetooth 5.0 technology and has a range of up to 33 feet. This is expected to attract new customer and enhance the profit ratio of the company.

However, factors such as of high cost of devices and stringent government regulations related to product approval are expected to hamper the growth of global market. In addition, side effect of the frequency in ears is expected to challenge the growth of target market.

Advancements is wireless products by major players and approach towards integration of features such as health tracker and controlling of connected home appliances along with innovative product offerings are factors responsible to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnership and agreements between regional and international players is expected to support the revenue transaction of the target market.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to rising demand form smart devices that provide more flexibility and connectivity as compared to old devices. In addition, presence of large number of players operating in the country and innovative product offerings is expected to support the growth of target market.

Business development activities by major players through merger & acquisitions and approach towards increasing the consumer reach through adoption of online sale are factors responsible to impact the target market growth.

Competitive Landscape

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Market	Global Wireless Audio Devices Market
Analysis Period	2017 - 2028
Base Year	2020
Forecast Data	2021 - 2028
Market Stratification	Product, Technology, Distribution Channel, Application, and Geography
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

 

Wireless Audio Devices Market Segment Analysis, 2020

The global market is segmented into product, technology, distribution channel and application. The product segment is bifurcated into wireless headsets & microphones, wireless speaker systems, sound bars, and others. Among product the wireless headsets & microphones is expected to account for significant revenue share in the target market due to high consumer spending on smart electronic devices.

The technology segment is further divided into bluetooth, Wi-Fi, airplay, and others and the airplay is expected to witness faster growth in the global market over the forecast period. Among the distribution channel the online segment is expected to account for major revenue share owing to high consumer preference of online buying.

The players profiled in the report are Shure, Bose Corporation, Vizio Inc., Sennheiser Electronic GmBH, Koninklijke Philips N.V., DEI Holdings Inc., Sony Corporation, Philips Electronics Corporation, Logitech International SA, Avnera Corporation, Apple Inc., Harman International Inc., Sonos Inc., and VOXX International Corporation. 

Market Segmentation

Market By Product

Wireless Headsets & Microphones
Wireless Speaker Systems
Sound Bars
Others

Market By Technology

Bluetooth
Wi-Fi
Airplay
Others (Sonos and SKAA)

Market By Distribution Channel

Online
Offline

Market By Application

Commercial
Consumer
Automotive
Others (Defense & Security)

Market By Region

North America
•    U.S.
•    Canada

Europe
•    U.K.
•    Germany
•    France
•    Spain
•    Rest of Europe

Asia-Pacific
•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Rest of Asia-Pacific

Latin America
•    Brazil 
•    Mexico
•    Rest of Latin America

Middle East & Africa
•    GCC
•    South Africa
•    Rest of Middle East & Africa

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