Global Wireless Audio Market: Overview
Wireless Audio is a wireless technology specially designed to play various types of audio files. These wireless audio devices include speaker adapters, microphones, integrated audio system, musical pickups, wireless transmitters and receiver system, sound bar, in-ear monitoring systems, wireless speaker system, and dedicated speaker docks. Modern wireless audio devices can be run by batteries or power cables depending on the designs. They offer flexibility, connectivity, convenience, and expandability; it is also capable of operating in the vacant spectrum between 520 MHz–1800 MHz. Changing consumer preferences and behavioral shifts have resulted in increasing penetration of smartphones and tablets globally. Changing the focus of media toward streaming services such as Spotify, Deezer and Pandora have taken the wireless audio market to the new height. Wireless audio devices offer vast personal libraries of songs to the music lovers to enjoy at home or other places.
Global Wireless Audio Market: Growth Factors
Increasing need for mobility devices and advancements in wireless audio technologies are factors anticipated to drive the global wireless audio market growth in the near future. The key factor of the global market is rising demand for infotainment services. Increasing investment in the R&D and further innovation in the wireless audio devices may open up new growth opportunities in the global market. Conversely, its heavy use may adversely affect children and end-user, and operating frequency compliance; all these factors may hinder the global wireless audio market to some extent.
Global Wireless Audio Market: Segmentation
The global wireless audio wireless audio market is categorized based on technology as Wi-Fi, play-Fi, Airplay, SONOS, Bluetooth, SKAA, and others. On the basis of application, the global market is classified as a commercial application, defense and security application, consumer and home application, automotive application, and others. Of these, Bluetooth is the largest application segment is the global market. Commercial application is the second largest across the globe due to higher demand for wireless audio devices from automotive and defense sectors. Moreover, the global wireless audio market is divided based on the product as wireless headsets & microphones, sound bars, wireless speaker systems, and others. Of these, wireless speaker systems are the dominating segment globally. Further, wireless speaker systems are sub-segmented as speaker adapters, dedicated speaker docks, and Bluetooth speakers.
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Global Wireless Audio Market: Regional Analysis
North America is the leading region in the global wireless audio market. Asia Pacific follows the same trend. North America, especially the U.S., contributes for the largest market chunk due to increasing disposal income and increasing spending power of the population. Asia-Pacific is the fastest growing market owing to emerging economies such as India, China, and Japan. These countries are anticipated to show significant growth in the coming years. These are some major markets for wireless audio devices and are expected to exhibit double-digit growth in the next few years.
Global Wireless Audio Market: Competitive Players
Major players in the global wireless audio market are Harman International, Inc., Apple, Inc., Plantronics, Inc., DEI Holdings, Inc., and Bose Corporation, Vizio, Inc., Polk Audio, Inc., and Koninklijke Philips N.V. Other players influencing the global market are Bluetooth Sig, Inc., Boston Acoustics, Inc., Sony Corporation, Sennheiser Electronic GmbH, Avnera Corporation, VOXX International Corporation, and Shure.