The wireless audio device market size is projected to grow from USD 69. 6 billion in 2021 and to reach USD 153. 3 billion by 2026; it is expected to grow at a CAGR of 17. 1% during the forecast period. The key factors contributing to the growth of the market include a surge in global demand for infotainment devices and increased R&D expenditure by OEMs for the development of new and advanced wireless audio devices are some of the prominent factors for the growth of the wireless audio device market globally.
New York, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wireless Audio Device Market with COVID-19 Impact Analysis Product, Technology, Application, Functionality and Region - Global Forecast to 2026" - https://www.reportlinker.com/p05226973/?utm_source=GNW
The market for true wireless audio device/earbuds could grow at the highest CAGR during the forecast period
The true wireless hearables or earbuds segment is expected to witness exponential growth during the forecast period owing to the high demand for true wireless hearables among the consumer segment.The major player in the market, Apple (US), has a major market share in the true wireless hearables category.
The other prominent players offering true wireless hearables are Samsung (South Korea), Bose Corporation (US), Sony Corporation (Japan), GN Group (Denmark), etc.The gradual shift from wired audio devices to wireless audio devices has resulted in major demand for earbuds.
Moreover, the significant penetration of smartphones has also facilitated the growth of true wireless hearables.
The market for Bluetooth technology is estimated to account for the largest share during the forecast period in wireless audio device market
The Bluetooth segment of the wireless audio device market is projected to grow at the highest CAGR during the forecast period.Audio streaming in wireless audio devices used in consumer electronics is carried out using Bluetooth technology.
The growth of this segment can be attributed to the initiatives undertaken by manufacturers to increase the throughput of wireless audio devices equipped with Bluetooth technology that is used in consumer electronics.
Wireless audio device market in the APAC is expected to witness a robust growth during 2021-2026
The wireless audio device market in APAC is projected to grow at the highest CAGR from 2021 to 2026.APAC, being the most populated region in the world, is witnessing increased demand for consumer electronics, such as smartphones and tablets, thereby leading to the growth of the wireless audio device market in the region.
The growing penetration of smart devices is another factor driving the growth of wireless audio devices in the region. North America is the largest market in terms of market size owing to the offerings made by the established players such as Apple, Sonos, Bose Corporation, Sound United, etc.
The breakup of primaries conducted during the study is depicted below:
• By Company Type: Tier 1 – 55 %, Tier 2 – 25%, and Tier 3 –20%
• By Designation: Directors– 50%, Managers – 30%, and Others – 20%
• By Region: Americas– 40%, Europe – 35%, APAC – 20%, and RoW – 5%
The major players in the wireless audio device market are Apple (US), Bose Corporation (US), Sony Corporation (Japan), Harman International Industries (South Korea), Sonos (US), SoundUnited (US), Sennheiser (Germany), Vizio (US), VOXX International (US) and Zound Industries (Sweden).
The report segments the wireless audio device market and forecasts its size, by volume and value, based on region (North America, Europe, Asia Pacific, and RoW), product (headphones, earphones, true wireless hearables/earbuds, speaker systems, headsets, soundbars, microphones), technology (Bluetooth, Wi-Fi, Bluetooth+Wi-Fi, Airplay, Others), application (home audio, consumer, commercial, automotive and others), functionality (smart devices and non-smart devices)
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the wireless audio device market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying This Report
• This report includes the market statistics pertaining to product, technology, application, functionality and region
• An in-depth value chain analysis has been done to provide deep insight into the wireless audio device market.
• Major market drivers, restraints, challenges, and opportunities have been detailed in this report.
• The report includes an in-depth analysis and ranking of key players.
Read the full report: https://www.reportlinker.com/p05226973/?utm_source=GNW
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