Press release
Wireless Audio Device Market Report 2024: Strategies And Recent Developments | Plantronics Inc., Samsung Electronics Co. Ltd., Sennheiser electronic GmbH & Co. KG, Shure Incorporated, Sonos Inc., Sony Corporation, Vizio Inc.
Wireless Audio Device Market Size
The Business Research Company offers in-depth market insights through Wireless Audio Device Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The wireless audio device market size has grown exponentially in recent years. It will grow from $33.71 billion in 2023 to $42.46 billion in 2024 at a compound annual growth rate (CAGR) of 26.0%. The growth in the historic period can be attributed to growth in consumer demand for mobility, smartphone proliferation, growth of streaming services, digital audio quality, high-resolution audio.
The wireless audio device market size is expected to see exponential growth in the next few years. It will grow to $101.71 billion in 2028 at a compound annual growth rate (CAGR) of 24.4%. The growth in the forecast period can be attributed to 5g connectivity, voice assistant integration, growing demand for gaming and vr, health and fitness, augmented reality (ar) and mixed reality (mr),. Major trends in the forecast period include true wireless stereo (tws) earbuds, active noise cancellation (anc), gaming and low latency audio, customization and personalization, wearable integration.
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Market Segmentation:
The main types of products in wireless audio devices are soundbars, wireless speakers, and wireless headsets and microphones. Soundbars are bar-shaped devices that usually contain more than one speaker and are used in combination with televisions, computers, mp3 devices, and others. The various technologies include Bluetooth, Wi-Fi, and Airplay that are used in applications such as commercial, consumer, automotive, and other applications.
Major Driver - Surge In Wireless Device Usage Boosts Wireless Audio Device Market
The rise in the adoption of wireless devices is expected to propel the growth of the wireless audio device market going forward. Wireless devices are electronic devices such as smartphones, routers, radios, tablets, Bluetooth mice, and keyboards that use radio signals to communicate and do not require a physical wire. The rapid increase in the adoption of wireless devices is promoting the demand for the adoption of wireless audio devices by consumers for entertainment purposes. For instance, according to DataReportal, an online reference library, the number of smartphones in use is rapidly growing at an annual rate of 5.7%, with an average of approximately 1 million new smartphones in use every day. Therefore, the rise in the adoption of wireless devices is driving the growth of the wireless audio device market.
Competitive Landscape:
Major companies operating in the wireless audio device market include 5JH-2024-S36SAG, Plantronics Inc., Samsung Electronics Co. Ltd., Sennheiser electronic GmbH & Co. KG, Shure Incorporated, Sonos Inc., Sony Corporation, Vizio Inc., Voxx International Corporation, Masimo Corporation, Marshall Group, GN Store Nord A/S, Xiaomi Corporation, Bang & Olufsen A/S, Yamaha Corporation, Imagine Marketing Limited, JBL, Earin AB, Audiotonix Group, Sound Devices LLC, Jabra, Amazon.com Inc., Google LLC, Jaybird, Boston Acoustics Inc.
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Top Trend - Cutting-Edge Product Introductions Drive The Evolution Of The Wireless Audio Device Sector
Product innovations have emerged as the key trend gaining popularity in the wireless audio device market. Companies in the wireless audio device industry are developing new technologies and launching new products into the market to expand the company's customer base and meet customers' requirements. For instance, in March 2021, Sonos, a US-based audio products manufacturing company, introduced Sonos Roam, an ultra-portable, compact-sized smart speaker that is connected completely to Wi-Fi at home and is also easily switched to Bluetooth when outside. It can simultaneously connect to both of them, making it seamlessly stream.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Wireless Audio Device Market Characteristics
3. Wireless Audio Device Market Trends And Strategies
4. Wireless Audio Device Market - Macro Economic Scenario
5. Wireless Audio Device Market Size And Growth
…..
27. Wireless Audio Device Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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