Global Wireless Audio Devices Market - 2023-2030

Global Wireless Audio Devices Market - 2023-2030

Market Overview
The global wireless audio devices market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 18.2% during the forecast period (2023-2030).

Wireless audio devices facilitate stereo signal transmission from smartphones, tablets or other audio sources to a powered sound system using Bluetooth or wi-fi (boombox, stereo receiver, car system, etc.). The need for speakers, headphones, microphones, sound bars and other audio equipment has grown tremendously, which has helped the market. Audio system sales have increased, enabling the audio business to adapt to shifting consumer tastes.

Market Dynamics
The growing need for mobility devices
In recent years, there has been a growth in consumer demand for mobility services due to seamless connectivity and easy access to information and resources. Cloud services, the BYOD movement, mobile devices, wireless services and other mobility solutions are becoming increasingly popular with people. The enhanced features of wireless audio devices, such as portability, ease of management and distant accessibility for audio communication, have expanded their uptake. Customers' experiences are improved by wireless operation, rapid & simple audio transmission and simple installation of wireless audio equipment. As a result, the market for wireless audio devices is driven by rising consumer demand for mobile services.

Applications for wireless audio equipment are expanding in the commercial sector
In the business world, wireless audio devices are frequently utilized for events, including conferences, meetings, sporting events, news broadcasts and auctions, as well as in the media and entertainment, educational and corporate sectors. The market is flooded with wireless products like wireless speaker systems, headphones and microphones. It is a significant driver of the market expansion for wireless audio devices.

COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis
The global wireless audio devices market is segmented based on type, technology, application and region.

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The use of Bluetooth is a widely recognized standard. The fact that it works with practically every gadget is the main factor in the technology's superior performance compared with other products in the market. 94% of speakers have Bluetooth technology, which indicates that consumers have a lot of faith in wireless audio, according to the Bluetooth 2020 Report. Approximately 423 million Bluetooth speakers are anticipated to be supplied in 2025, up from 350 million units in 2021. It's believed that most of them will be smart speakers. Consumer speakers' capacity to wirelessly broadcast audio material and improve wired and wireless listening experiences is the main factor driving consumer speaker adoption.

Geographical Analysis
The growing automakers in Asia-Pacific
The rising demand for electric vehicles in the region is expected to promote wireless audio devices over the forecast period. For instance, the IEA reports that China sold the most electric cars in Asia-Pacific in 2021. (more than 3.33 million units). Comparatively, 10,3000 electric vehicles were sold in New Zealand in 2021. The market in the area is anticipated to grow rapidly due to the sales of electric vehicles. The nation's rising demand for wireless audio devices is mostly due to its expanding economy, high per capita income, adoption of high-quality, global wireless audio systems and their supporting eco-system.

Competitive Landscape
The major global players in the market include Apple Inc. (Beats), Bose Corporation, Harman International Industries (JBL), LG Electronics, Philips Electronics, Samsung, Sennheiser Electronic GmbH & Co., Sonos Inc., Sony Corporation and Vizio, Inc.

Why Purchase the Report?
• To visualize the global wireless audio devices market segmentation based on type, technology, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of wireless audio devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global wireless audio devices market report would provide approximately 61 tables, 59 figures and 205 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies