Improving Internet connectivity, a rising disposable income and the increasing acceptance of streaming services by the mainstream all point to a positive future for the wireless audio devices market. Numerous surveys conducted have shown that consumers prefer the portability, convenience, and flexibility offered by wireless audio devices even if their wired brethren offer a superior audio experience or additional features. Persistence Market Research has studied the wireless audio devices market in its upcoming report ‘Wireless Audio Devices Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025’.
The global wireless audio devices market has five key geographic regions viz. North America, Latin America, Europe, APAC, and MEA. Each has a dedicated section where we take a detailed look at the regional drivers, restraints, opportunities, and threats followed by an impact analysis. The historical market size of the largest countries in each region has been compared and contrasted with the anticipated growth expected in the wireless audio devices market on the basis of the taxonomy. For companies that wish to target only specific high growth regions in the wireless audio devices market or even a particular segment, this section of the wireless audio devices market report can be extremely beneficial.
The wireless audio devices market has grown by leaps and bounds in the 21st century and this has compelled key stakeholders to commit massive R&D investment to this dynamic sector. You can expect nothing less than the most intense competition in this sector as manufacturers experiment with different materials, colors, features and try to leave their closest rivals trailing in their wake. Our informative report has profiled some of the most prominent companies operating in the global wireless audio devices market. We provide a brief company description, product offerings, key financials, recent developments, and strategies adopted in the wireless audio devices market. It is recommended to conduct a SWOT analysis of the major companies actively involved in the wireless audio devices market as this can allow you to study their market performance clearly.
One-of-a-kind Research Methodology
The research methodology adopted by Persistence Market Research for all of our reports including that on the wireless audio devices market is trusted by our valuable customers. Our team of highly diverse and knowledgeable analysts begin with exhaustive primary and secondary research after which a market player list that consists of all important nodes of the value chain is prepared. After all the necessary data has been gathered from the latter by way of a questionnaire, it is rigorously scrutinized with the help of the triangulation method. The report is then thoroughly validated using advanced company tools to glean all the required qualitative and quantitative insights pertaining to the wireless audio devices market.
The wireless audio devices market report begins with the executive summary that is concise yet comprehensive. This includes an overview as well as our analysts’ insights of the wireless audio devices market that take the form of the overall approach to adopt, usage type to target, price range to aim at, with a unique differentiating strategy. Our experts have given their valuable recommendations that would help you immensely in the wireless audio devices market. This section concludes with the Wheel of Fortune that is an attractive, graphical representation of the wireless audio devices market. The introduction chapter of the wireless audio devices market report is closely related to the executive summary and can be read in tandem with it. This comprises the definition along with the taxonomy of the wireless audio devices market.
Wireless Audio Devices Market Taxonomy
By Distribution Channel
By Product Type
By End User
R&D imperative to stay ahead in the wireless audio devices market
Audio device manufacturers have focused their attention on product innovation and R&D as customers seek ‘newer, better, and more improved’ products. The widespread adoption of mobile devices such as smartphones and tablets has spurred the demand for improved sound quality delivered by portable Bluetooth speakers. Manufacturers have experimented with different colors, shapes, and sizes with varied use cases and this has directly benefited the wireless audio devices market. Improved connectivity features also attract customers in no small measure to the wireless audio devices market.
Portable speakers gaining traction in the wireless audio devices market
Customers, particularly in developed regions such as Western Europe and North America have a greater likelihood of purchasing premium priced products and this applies to the wireless audio devices market as well. This is largely due to a higher disposable income coupled with the presence of major brands in these countries. In addition, the sales of premium priced portable Bluetooth speakers is expected to increase in Eastern Europe in the medium term as these products offer greater convenience and a superior user experience when compared to their wired counterparts.
The portable speakers segment in the global wireless audio devices market is estimated to hold a market share of about 46% by the end of 2025. This segment will witness high Y-o-Y growth during the forecast period and register a CAGR of 10.5% in terms of value. The portable speakers segment is also expected to register the maximum incremental opportunity in the global wireless audio devices market during 2017 – 2025.
Mobile first world supports the rise of portable Bluetooth speakers
The APAC region led by China and India is witnessing explosive economic growth. A rising disposable income allows people in this dynamic region to spend money on what was once considered a luxury such as portable Bluetooth speakers. Improved Internet connectivity and the preference of people for audio and video online streaming services is projected to boost the wireless audio devices market. Cloud computing has provided limitless opportunities for audiophiles to access the content they love anywhere, anytime, even from the most remote and far-flung locations.
Changing tastes play a major role in the wireless audio devices market
Consumer tastes have dramatically changed in the 21st century and music has moved to a digital format, compelling manufacturers in the wireless audio devices market to design systems accordingly. Initially, customers gave a higher priority to speakers that boasted a higher wattage and sound quality. Unfortunately, this created a nuisance for others in the vicinity because of the loud noise generated. Therefore, customers now look at other key factors such as Wi-Fi and Bluetooth connectivity, card reader plug in, etc.
Battery drain a critical restraint in the wireless audio devices market
Portable Bluetooth speakers run on either inbuilt or external batteries that need to be frequently recharged. The battery life of these devices is not yet ideal as portable speakers usually last for a few hours at the most. This poses a key challenge to market these devices in the wireless audio devices market, especially in emerging economies that may face frequent rolling blackouts. Portable speakers that run on Bluetooth are typically of a higher cost and they may have certain compatibility issues when compared to wired audio devices. The latter offer a greater number of features, higher range coverage, and USB port facilities that could stifle the demand in the wireless audio devices market.
Focus on the U.S. in North America wireless audio devices market
Companies are advised to direct their attention to the U.S. and North America wireless audio devices market as the continent has a number of advantages in its favor. Portable speakers are predicted to grow with an exponential CAGR of 10.5% in North America for the period from 2017-2025. From a value of just over US$ 1.5 Bn in 2017, portable speakers in North America are anticipated to be worth approx. US$ 3.4 Bn by the end of the forecast period.