At CAGR of 24.2%, Wireless Audio Devices Market to exceed US$38.5 bn Globally by 2022

The global wireless audio devices market, valued at US$ 6.92 Bn in 2014, is expected to grow at a CAGR of 24.2% during the period from 2015 to 2022. The wireless audio devices market encompasses devices such as wireless speaker systems, microphones, sound bars, receiver systems, wireless transmitters, integrated audio system, in-ear monitoring systems, and musical pickups. The persistent rise in the portable devices applications such as smartphones, tablets, and various other multimedia devices is boosting the demand for wireless audio devices globally. Wi-Fi and Bluetooth are the most commonly used technologies for wireless audio signal transmission.

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In 2014, wireless headphones was the most dominant product segment, accounting for over one-fourth of the total wireless audio devices market around the world. One of the major factors stimulating the demand for wireless headphones is the rise of disposable income in developing economies. A few other factors, such as Bluetooth connectivity, longer battery life, compactness, and noise cancellation, contribute to the growing demand for wireless headphones. The rise in smartphone adoption is the key factor driving the demand for wireless audio devices worldwide. Wireless speakers and sound bars are emerging wireless audio devices as wireless technology replaces the complex wired transmission systems with high portability and unique designs. Wireless technologies such as Wi-Fi or Bluetooth, are frequently used with devices such as smartphones, media players, tablets, headsets, laptops, and console gaming equipment. Sonos, AirPlay, infrared, radio frequency, and PlayFi are some other technologies that are used in wireless audio devices for sending and receiving audio signals for playback. Among all, the commercial sector is the leading segment in the wireless audio devices market due to its high rates of revenue generation. The growing number of applications for connected wireless technologies is encouraging the growth of the wireless audio devices market in the commercial sector. Wireless microphones, integrated with devices such as speakers, are frequently used in organizations to conduct seminars and conferences, by transmitting and receiving audio signals.

North America, Asia Pacific, and Europe are the main contributing regional markets for the wireless audio devices. Among all wireless audio product type segments, wireless soundbars is expected to grow the fastest. Growing R&D innovation and increasing desire for audio clarity is encouraging customers to choose wireless or Bluetooth-enabled soundbars. The rising smart homes trend in North America is driving the adoption of wireless audio devices in the region. Some of the major players in the wireless audio devices market are Bose Corporation, Harman International, Sennheiser Electronic GmbH, Sony Corporation, Apple, Inc., Koninkiljke Philips N.V., DEI Holdings, VOXX International, Polk Audio, and Vizio Inc.

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