The global wireless audio products market is projected to reach USD 77,076.9 Million in 2022. Based on the report, sales of wireless audio products are likely to soar at a CAGR of 9.60% to reach an evaluation of USD 1,92,627.2 Million by 2032.
The demand for wireless audio products is soaring due to the growing applications in the commercial sector, increasing adoption of mobile devices, additional penetration of infotainment devices, and others. These factors have proven to actively contribute towards the wireless audio products market growth as well as wireless audio products market key trends and opportunities.
| Report Attribute | Details |
|---|---|
| Wireless Audio Products Market Value (2022) | USD 77,076.9 Million |
| Wireless Audio Products Market Anticipated Value (2032) | USD 1,92,627.2 Million |
| Wireless Audio Products Projected Growth Rate (2022 to 2032) | 9.60 % |
Wireless audio products are used to receive and transmit several audio signals via wireless technologies such as Wi-Fi, Bluetooth, AirPlay, NFC, and many others. Some of the many types of wireless audio products available in the wireless audio products market are sound bars, wireless earphones and headphones, wireless home theatre systems, portable speakers, multi-room speakers, and others.
Additionally, the global demand for wireless audio devices will continue to increase owing to their application in several sectors such as commercial, consumer, automotive, security, and defense, amongst others. In the consumer sector, wireless audio products are used along with mobile devices like laptops, computers, smartphones, and gaming consoles. Hence it escalates the wireless audio products market future trends.
In the commercial sector, wireless audio products are used in industries, office spaces, educational institutes, sports complexes, IT parks, and government offices.
The growing use of advanced driver assistance systems (ADAS), GPS devices, and in-vehicle infotainment has promoted the adoption of wireless audio products, such as speakers, headphones, etc., in trucks, cars, buses, and other automobiles.
It has been determined that the demand for wireless audio products has been substantially growing and the rate of adoption is increasing parallelly owing to shifts in consumption patterns and market trends, and these factors are anticipated to propel the wireless audio products market growth during the forecast period.
In the last few years, the demand for microphones, sound bars, headphones, and speakers has significantly increased, and this has considerably boosted the wireless audio device adoption trends and wireless audio products market opportunities.
Increasing sales of wireless audio products have supported the audio industry to adjust depending on the consumers’ shifting wireless audio products market trends. However, concerns over rendering superior-quality audio signals are anticipated to pose a threat to the wireless audio products market.
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One of the key reasons is the surging demand for infotainment devices across the globe which is driving the wireless audio products market future trends. With the introduction of portable infotainment devices such as mobile phones, laptops, tablets, etc., the need for mobile accessories has increased around the world.
Smart devices use wireless audio technologies such as Wi-Fi and Bluetooth for streaming music and transferring data which boosts the wireless audio products adoption trends.
The wireless audio products market is soaring owing to the growing adoption of smartphones. For example, Apple Inc. makes use of AirPlay which is a wireless audio technology integrated into iPhones. This enables consumers to stream multimedia content to other products that are licensed and supported by AirPlay. Therefore, the thriving infotainment devices market is one of the key factors attributing to the wireless audio products market growth.
Amongst people, there is an easy adoption of wireless audio products owing to enhanced features offered in the wireless audio products like product bundling, flexible audio streaming, and growing disposable income amongst the population is urging people to capitalize on luxury items such as wireless audio products.
Some of the other factors which lucratively influence the wireless audio products market opportunities are the latest developments in audio technology and growing mobile device penetration which strengthens the adoption of wireless speakers.
Currently, most of the wireless audio products market manufacturers of headphones are aiming to enhance the audio output quality of the devices to steal a bigger wireless audio products market share. Nevertheless, manufacturers’ focus on wireless audio products is anticipated to move further than audio in the future.
The companies are trying to manufacture various smart audio products. These wireless and smart audio products offer both infotainment and monitor health and track various factors of the human body.
Besides the wireless audio products market driving factors, many governments have enforced stringent regulations on limitations of a range of wireless audio devices’ acceptable frequency. The use of wireless audio devices at more than 85 decibels (dB) for continuously more than 8 hours can have an adverse effect on listeners’ hearing ability. This factor is anticipated to hamper the wireless audio products market growth during the forecast period.
A few other challenges which the vendors face in the wireless audio products market include lesser bandwidth of wireless connection and the threat of piracy. These are the factors that hinder the wireless audio products market growth.
The increasing use of voice assistant-based products in North America is likely to boost the wireless audio products market growth regionally. North America accounts for 32.60% of the wireless audio products market share owing to fast-paced industrialization, increasing adoption of wireless audio devices, and the presence of key market players. Increasing the use of wireless soundbars is likely to promote the demand for wireless audio products in North America.
One of the other factors driving the North American wireless audio products market is the consumer shift towards online shopping habits. Numerous retailers, like Walmart, Amazon, etc., are concentrating on upgrading their online sales channels to meet the demand for the latest wireless audio products market trends and improve the experience of the user.
The COVID-19 pandemic lucratively impacted the wireless audio products market in North America. As the government imposed stringent lockdowns in 2020, the adoption of smart audio devices and wireless audio devices increased. The rising demand for platforms such as Amazon Prime and Netflix has boosted the consumers to purchase wireless audio products and thereby promoting the wireless audio products market growth in this region.
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Europe's wireless audio products market is said to be accountable for 17.60% of the wireless audio products market share globally. Growing demand for wireless audio products is credited to their ease of access and wireless connectivity to tablets, smartphones, or any other device. Furthermore, most wireless audio products are portable and can be easily carried across.
While vacationing, consumers prefer spending time for several leisure activities, such as listening to music, and this has encouraged the demand for wireless audio products in the European market. Virtual assistants like Cortana by Microsoft, Alexa by Amazon, Google Assistant by Alphabet, Inc., and Siri by Apple render an accessible platform and can operate numerous functions from combining with home automation products and playing the radio.
There is a constant upgradation of features of virtual assistant devices, and these swift developments boost the demand for wireless audio products having AI virtual assistant technologies, hence promoting the European wireless audio products market growth.
With time business models evolve, sometimes because of changes in the wireless audio products market and many a time due to the invention of new technology. This leads to the emergence of new and exciting trends. FMI closely monitors the start-up ecosystem from around the globe and presents multiple interesting new pieces of information which gain popularity.
In December 2021, German start-up Bragi and Indian home ground brand Noise announced an exclusive partnership for next-gen wireless earphones. Noise has claimed to be the biggest intellectual property owner and inventor of true wireless headphones.
This is Bragi’s first-ever tie-up with an Indian brand, and under this collaboration, Bragi and Noise will work together to launch an intelligent range of audio devices powered by the patented Bragi OS in India. The state-of-the-art headphones will be designed by both teams, and the first set is predicted to be launched in the first half of 2022.
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Some of the key players in the wireless audio products market are Sony Corporation, VOXX International Corporation, Apple Inc., Philips, Amazon, Sonos Inc., DEI Holdings, Inc., Harman International, Denon, Yamaha, Shure Incorporated, Vizio Inc., Samsung Electronics, Bose Corporation, Sennheiser Electronic, YAMAHA, Jabra, and Google.
Wireless audio products market players have adopted strategies such as product approvals, product launches, market initiatives, and mergers and acquisitions. In January 2021, Harman continued to grow its award-winning Onyx Series with the addition of Harman Kardon Onyx Studio 7.
This latest Bluetooth speaker includes high stereo performance sound and a crafty industrial design for the most discreet audio consumers. In December 2020, Apple announced AirPods Max which is a pioneering wireless headphone that gets the magic of AirPods to an over-ear design with high-reliability sound.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 9.6% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Functionality, Application, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC Countries, South Africa |
| Key Companies Profiled | Sony Corporation; VOXX International Corporation; Apple Inc.; Philips; Amazon; Sonos Inc.; DEI Holdings, Inc.; Harman International; Denon; Yamaha; Shure Incorporated; Vizio Inc.; Samsung Electronics; Bose Corporation; Sennheiser Electronic; YAMAHA; Jabra; Google |
| Customization | Available Upon Request |
The growth outlook for the wireless audio products market is predicted to advance at a CAGR of 9.60% from 2022 to 2032.
The North American region is anticipated to lead the wireless audio products market during the forecast period.
The wireless audio products market size is likely to hold a valuation of USD 1,92,627.2 Million by 2032.
1. Executive Summary | Wireless Audio Products Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type 5.1. Portable 5.2. Earphones 5.3. Headphone 5.4. Non-transportable 5.5. Others 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Sales Channel 6.1. Organized 6.2. Unorganized 6.3. Online/E-Commerce 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Sector 7.1. Automotive 7.2. Commercial 7.3. Security 7.4. Defence 7.5. Others 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Price Range 8.1. Low 8.2. Medium 8.3. High-End/Premium 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. Middle East and Africa 10. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Logitech/ UE 17.2. Bose Corporation 17.3. Philips 17.4. Bang & Olufsen 17.5. Harman International 17.6. Samsung Electronics 17.7. Beats Audio (Apple Inc.) 17.8. Sony Corporation 17.9. Sonos Inc. 17.10. Denon 17.11. VOXX International Corporation 17.12. Sennheiser Electronic 17.13. Bowers & Wilkins 18. Assumptions & Acronyms Used 19. Research Methodology
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