$ 69.6 billion market for wireless audio devices – Global forecast for 2026: Moving past the era of using audio-only headphones – ResearchAndMarkets.com

The “Market for Wireless Audio Devices with COVID-19 Impact Analysis Product, Technology (Bluetooth, Wi-Fi, Bluetooth + Wi-Fi, Airplay), Application (Home Audio, Consumer, Commercial, Automotive), Functionality and Region – Global Forecast for 2026” report has been added ResearchAndMarkets.com’s offer.

The market size for wireless audio devices is projected to grow from USD 69.6 billion by 2021 and reach USD 153.3 billion by 2026; it is expected to grow at a CAGR of 17.1% during the forecast period.

The key factors contributing to the growth of the market include an increase in the global demand for infotainment devices and increased R&D expenditure by OEMs for the development of new and advanced wireless audio devices are some of the prominent factors for the growth of the wireless audio device market globally.

The market for truly wireless audio device / earbuds could grow at the highest CAGR in the forecast period.

The real segment of wireless hearing aids as earbuds is expected to witness exponential growth in the forecast period due to the high demand for real wireless hearing aids among the consumer segment. The most important player in the market, Apple (FS), has a large market share in the category of truly wireless hearables. The other leading players offering true wireless hearables are Samsung (South Korea), Bose Corporation (US), Sony Corporation (Japan), GN Group (Denmark), and so on.

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The slow shift from wired audio devices to wireless audio devices has resulted in great demand for earbuds. Moreover, the significant penetration of smartphones has also facilitated the growth of true wireless hearing aids.

The market for Bluetooth technology is rumored to account for the largest share in the forecast period in the market for wireless audio devices.

The Bluetooth segment of the wireless audio device market is expected to grow at the highest CAGR in the forecast period. Audio streaming in wireless audio devices used in consumer electronics is performed using Bluetooth technology. The growth of this segment can be attributed to the initiatives taken by manufacturers to increase the throughput of wireless audio devices equipped with Bluetooth technology used in consumer electronics.

The market for wireless audio devices in the APAC is expected to witness robust growth during 2021-2026.

The market for wireless audio devices in APAC is projected to grow at the highest CAGR from 2021 to 2026. APAC, as the most populous region in the world, is witnessing increased demand for consumer electronics, such as smartphones and tablets, and leading the way to the growth of the wireless audio device market in the region.

The growing penetration of smart devices is another factor driving the growth of wireless audio devices in the region. North America is the largest market in terms of market size due to the offers made by the established players like Apple, Sonos, Bose Corporation, Sound United, etc.

The major players in the wireless audio device market are Apple (FS), Bose Corporation (FS), Sony Corporation (Japan), Harman International Industries (South Korea), Sonos (FS), SoundUnited (FS), Sennheiser (Germany) ), Vizio (FS), VOXX International (FS) and Zound Industries (Sweden).

Premium insight

  • Market for wireless audio devices to witness lucrative growth potential from 2021 to 2026

  • Bluetooth segment held the largest share of the market for wireless audio devices in 2020

  • True Wireless Hearables / Earbuds Segment of Wireless Audio Device Market to Grow at the Highest CAGR from 2021 to 2026

  • Consumer segment is projected to hold the largest share of the wireless audio device market in 2026

  • India’s wireless audio device market to grow at the highest rate from 2021 to 2026

Market Dynamics

Drivers

  • Surge in global demand for Infotainment devices

  • Rising in the use of wireless audio devices in the commercial sector

  • Increased R&D spend by OEMs for the development of new and advanced wireless audio devices

  • Digital transformation brought about by the COVID-19 pandemic

Restraints

  • Restrictions on the use of radio frequency spectrum by wireless audio equipment

  • Health problems due to prolonged use of audio devices

  • Hearing impairment as a result of continuous and prolonged exposure to audio

  • Interference caused by wireless audio devices in the functioning of implanted medical devices

Opportunities

  • Move past the era of using headphones only for audio

  • Monitor caregiver health and fitness

  • Check electrical appliances in connected homes

  • Coming from Smart Speakers

  • Increased demand for home theaters and LCDs

Challenges

  • Effect of bandwidth constraints, encoding delays and bit errors on audio quality

Industry Trends

Technology Analysis

  • Next generation of Bluetooth Audio

  • Improvements in Voice AI and Machine Learning

Revenue shift and new revenue pockets for the wireless audio device market

Patent analysis

  • Major innovations and patent registrations, 2014-2020

  • Number of patents granted from 2011 to 2020 for Wireless Audio Device

Tariff and Regulation Landscape

Case Studies

  • Plantronics Partnership with Salesforce

  • Deployment of music system at Psalms of David Festival, Poland

Companies called

  • Apple Inc.

  • Boat Lifestyle

  • Bose Corporation

  • bragi

  • Dali

  • Devialet

  • earin

  • GN Group

  • Harman International Industries

  • Human Inc.

  • Jam

  • Jaybird

  • LG

  • Phazon

  • Plantronics

  • Sennheiser

  • Shure

  • Sonos

  • Sony Corporation

  • Sound United

  • Trusound Audio

  • Vizio

  • The company Voxx International Corporation is based in Germany

  • The company Yamaha Corporation

  • The company Zound Industries

For more information on this report, visit https://www.researchandmarkets.com/r/rvo8v0


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