Global Wireless Audio Devices Market, by Technology (Bluetooth, Wi-Fi, Airplay, and Others (Sonos and SKAA)), by Product (Wireless Speaker Systems, Headphones, Sound Bars, Microphones, and Others), by Application (Automotive, Home Application, and Commercial Application)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2028, is expected to be valued at US$ 199.27 billion by 2028, exhibiting a CAGR of 16.70% during the forecast period (2021 - 2028), as highlighted in a report published by Coherent Market Insights.
Wireless audio devices are used to transmit and receive various types of audio signals, with the help of wireless technologies such as Bluetooth, Wi-Fi, or airplay. The signal is directly broadcasted using a wireless device such as Bluetooth or through another device such as router.
In addition, the growth of the global wireless audio devices market is attributed to the increasing sales of mobile phones, computers, or laptops across the globe. For instance, according Coherent Market Insights analysis, during January – March of the year 2021, number of shipments of mobile phones got increased by more than 20% year-on-year, and it has crossed the mark of 38 million, which is expected to boost the sales of wireless audio devices, as that are majorly used with smartphones for the entertainment purpose. In addition, the adoption of smartphones in India is majorly getting increased due to increasing penetration and low cost of internet, and increasing disposable income of people.
The global wireless audio devices market was accounted for US$ 56.31 Bn in terms of value in 2020 and is expected to grow at a CAGR of 16.70% for the period 2021-2028.
Global Wireless Audio Devices Market - Impact of Coronavirus (Covid-19) Pandemic
Asia pacific region is one of the fastest growing region, while China is one of the major manufacturer of electronics components. However, Asia Pacific region was severely impacted due to COVID – 19, as all the economic activities were halted and strict lockdown got imposed in several countries such as India and Australia.
In addition, consumer spending on leisure items also got affected due to the concerns of rising infection. The Asia Pacific region has experienced a significant decline in sales of various consumer electronics items such as smart TV and wireless audio devices. Moreover, during COVID – 19 pandemic the shortage of semiconductor chips has also impacted the wireless audio device market negatively.
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Major companies operating in the global wireless audio devices market include: Apple Inc., Bose Corporation, Cisco Systems, Inc., Jabra, HARMAN International, Logitech, Sennheiser electronic GmbH & Co. KG, Shure Incorporated, Sonos, Sony Corporation, Sound United, VIZIO, Inc., VOXX International Corp, and Zound Industries International AB.
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