March 25th,2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Wireless Audio Devices Market.
The Wireless Audio Devices Market is estimated to grow from USD 16.9 billion in 2020 to USD 43.0 billion by 2026 at a healthy CAGR of 17.1% during the forecast period.
Wireless audio conveys an audio signal to a wireless by employing a radio-frequency transmitter. The audio data signal, together with other non-audio data, is broadcast as a radio emission. The wireless audio system offers expandability, connectivity, convenience, and suppleness. Wireless audio devices use wireless platforms like radiofrequency, Bluetooth, Wi-Fi, etc.
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Wireless Audio Devices Market Share: By Application Trends
Based on application, the wireless audio devices market is classified into consumer, commercial, automotive, others. The consumer segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. Wireless audio devices such as headphones and headsets are widely used in consumer electronics such as computers, smartphones, and gaming consoles. The rising adoption of technologically-advanced smartphones by consumers has led to an increased demand for wireless headphones and headsets, thereby bolstering the segment growth.
Wireless Audio Devices Market Share: By Region
By region, the Asia Pacific market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly attributed to rapid technological advancements, well-established consumer electronics in the region, and the large presence of product manufacturers. Also, the vast availability of resources and cheap labor encourages various multinational companies to set up their manufacturing plants in APAC, which further proliferates regional market growth.
COVID-19 Impact on Global Wireless Audio Devices Market
The COVID-19 outbreak has moderately affected the wireless audio devices industry. The pandemic has turned the lives of people worldwide, with the number of cases increasing rapidly. The pandemic affected the communication infrastructure and automotive, consumer electronic sectors, thus affecting every stakeholder in the supply chain.
Key players operating in the Wireless Audio Devices market are-
- Apple Inc. (US)
- Bose Corporation (US)
- DEI Holdings Inc. (US)
- Samsung Electronics Co. Ltd. (Harman International Inc.) (South Korea)
- Koninklijke Philips NV (Netherlands)
- Sennheiser Electronic GMBH & Co. KG (Germany)
- Shure Incorporated (US)
- Sony Corporation (Japan)
- Vizio Inc. (US).
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Features of the Report:
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Wireless Audio Devices Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors.
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