PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1545408
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1545408
The Wireless Audio Device Market is projected to reach from USD 56.5 billion in 2024 to USD 70.9 billion by 2029; it is expected to grow at a CAGR of 4.7% from 2024 to 2029. Consumers are becoming increasingly aware of smart gadget features, components, and value propositions. This empowers individuals to make better purchasing judgments. The popularity of smart voice assistants originates from their capacity to improve users' daily lives in a practical and enjoyable manner. Encouragement and social interaction influence user happiness with AI-enabled products. Smart speakers' broad adoption opens up new potential for radio to improve its technological reach and broadcasting, and also to grow into podcasting and in-car audio.
Scope of the Report | |
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Years Considered for the Study | 2018-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million) |
Segments | Type, Application, and Region |
Regions covered | North America, Asia Pacific, Europe, Middle East & Africa, and South America |
Key players operating in the wireless audio device market are Apple Inc (US), SAMSUNG (South Korea), Bose Corporation (US), Sonos, Inc. (US), Sony Corporation (Japan).
"The true wireless hearable/earpods is projected to grow at the highest CAGR during the forecast period."
The market is driven by continuous developments in characteristics such as noise reduction, gesture controls, audio assistance, audio quality, lifespan of batteries, and connection. The potential to create an immersive, three-dimensional listening experience is growing into a popular attribute among consumers when selecting earbuds. The increased popularity of smartphones is boosting the TWS earbuds market, because they are commonly sold as smartphone accessories.
"The Bluetooth technology is projected to have the highest growth during the forecast period."
The use of Bluetooth is gaining popularity for various compelling reasons, including its adaptability, efficiency, and ongoing innovation. Bluetooth has proven its position as an important technology in a variety of industries, including audio, healthcare, smart homes, and industrial IoT. The ability to offer wireless communication between devices makes it indispensable for advanced technologies. Bluetooth's low power consumption is one of its most distinguishing characteristics. The efficiency is especially important for battery-powered devices, which may operate for a longer period of time without the need for frequent recharging.
"Asia Pacific region is likely to register highest CAGR."
Rapid development in Asia-Pacific countries is contributing to a more independent lifestyle. Consumers want audio solutions that are convenient for their on-the-go activities, such as commuting or working out. Wireless audio devices meet this desire by offering the option of unattached listening. As disposable incomes improve in many Asia-Pacific countries, people are more prepared to invest in technological goods, such as wireless audio devices. Consumers are also drawn to the visual appeal and range of styles available on the market, which allows them to select products that match their unique style.
Breakdown of primaries
The wireless audio device market is dominated by a few globally established players such as Apple Inc (US), SAMSUNG (South Korea), Bose Corporation (US), Sonos, Inc. (US), Sony Corporation (Japan), Masimo (US), Sennheiser electronic SE & Co. KG (Germany), VOXX International Corp.(US), VIZIO, Inc. (US), Marshall Group AB (Sweden). The study includes an in-depth competitive analysis of these key players in the wireless audio device market, with their company profiles, recent developments, and key market strategies.
The report segments the wireless audio device market and forecasts its size by product, technology, application, functionality, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions-North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the wireless audio device ecosystem.