Wireless Audio Device Market

Global Market Study on Wireless Audio Devices: Smart Speakers and Earphones Highly Lucrative Categories

Global Wireless Audio Device Market Segmentation by Product Type - ( Earphones, Headphones, Portable Speakers), Headphone segment is having a dominant position in the wireless audio devices market with the share of 38.7%.

Industry: Semiconductor Electronics

Published Date: February-2023

Format: PPT*, PDF, EXCEL

Delivery Timelines: Contact Sales

Number of Pages: 320

Report ID: PMRREP4094

Report Price

$ 4900*

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Wireless Audio Devices Market Outlook

The market for wireless audio devices was valued at US$ 7,266.1 Mn in 2022, and by the end of 2033, it is expected to grow to US$ 47,378.8 Mn. The market for wireless audio devices is estimated to valuate to US$ 8,508.6 Mn in 2023 and is predicted to grow at a CAGR of 19.1% from 2023 to 2033.

Wireless audio devices are devices that send & receive sound signals through the use of radio frequency, Bluetooth, infrared, airplay and Wi-Fi. Wireless audio devices that are being widely used such as headsets, headphones, amplifiers, microphones, speakers, dedicated speaker docks, radio tuners and sound bars. These devices serve as add-ons for laptops, smartphones, gaming consoles and desktop computers. These devices provide real-time wireless media streaming from audio-enabled devices to the output systems and enhance the user experience with flexibility, increased connectivity and convenience.

Rising demand for infotainment systems, rising adoption of semiconductors & electronic devices, growing penetration of sound-bars, microphones, speakers and headphones are some of the significant factors accelerating the growth of wireless audio device market. Additionally, rapidly rising demand for audio systems together with the growing popularity of voice-controlled assistants such as Amazon Alexa & Google Assistant has increased demand for wireless audio devices that are compatible with these services.

Wireless audio device market consists of 45% shares of global audio device market.

In terms of the regional market landscape, the market in North America held a leading market share of 28.4% in the global landscape in 2022. Meanwhile, demand for wireless audio devices in the Europe region will hold around 23.3% of the market in 2022.

Wireless audio devices Market Size (2023)

US$ 8,508.6 Mn

Projected Market Value (2033)

US$ 47,378.8 Mn

Global Market Growth Rate (2023-2033)

28.4%

Headphone Segment Market Share (2022)

38.7%

India Market Growth Rate (2022)

24.6%

Bluetooth Segment Market Share (2022)

37.8%

What are the Major Factors Impending the Growth of wireless audio devices Market?

“High Cost Together with The Limited Battery Life Is the Major Restraining Factor to The Adoption of Wireless Audio Devices”

Wireless audio devices are generally more expensive compared to traditional wired audio devices, which can limit their adoption. Additionally, most wireless audio devices have limited battery life, which requires frequent recharging and can be inconvenient for users along with that Interference from other wireless devices, such as Wi-Fi, can disrupt the performance of wireless audio devices, which can negatively impact the user experience.

Moreover, rise in the adoption of smart speakers has increased competition for wireless audio devices, as smart speakers offer similar functionality and ease of use. All these are the major impediments to the growth of wireless audio device market.

  • In January 2023, Philips had launched TAH8506BK which offers a remarkable theatrical experience that puts the consumer right in the centre of the action, as well as a multi-point connect feature that enables the consumer to switch seamlessly between gadgets.
  • In January 2023, Sony India had launched NW-ZX707 Walkman, it is claimed to provide improved sound & longer battery lifespan for hi-fi fans & audiophile. The NW-ZX707 is a greater music player with a sleek design that offers an authentic audio experience. It includes a DSD Remastered version Engine, which converts PCM audio to 11.2 MHz DSD for increased enjoyment.

What are the major driving forces behind the dominant share of U.S wireless audio devices Market?

“Growing Penetration of Portable Devices”

The growth of wireless audio devices market in US region can be attributed to the various features like they offer convenience & flexibility as they do not require cords or cables to connect to other devices and so on. Additionally, rising penetration of smartphones has led to a greater demand for wireless audio devices as they can be easily connected to phones and other portable devices.

Owing to such developments, U.S. is analysed to have the dominant market share of 19.5 % in global wireless audio devices market in 2022.

What are the growth opportunities for wireless audio device market in India?

“Increasing Utilization of Bluetooth Headphones and Other Wireless Audio Devices”

With the widespread adoption of smartphones and other connected devices, more and more people in India are becoming familiar with wireless audio technology & looking for more convenient ways to listen to music & other audio content. Additionally, wireless audio devices, such as Bluetooth headphones & speakers, are becoming more popular since they offer greater freedom and ease of use compared to traditional wired audio devices. All these factors are creating a favorable opportunity for the adoption of wireless audio devices in India.

Such factors in the wireless audio devices market is estimated to grow at a CAGR of 24.6% over the forecast period in India.

What Are the Factors Contributing to The Significant Market Share of Europe in The Global Wireless Audio Devices Market?

Expansion of E-commerce industry along with the low cost of audio devices

The development of new technologies such as Bluetooth 5.0 and Wi-Fi 6 has made wireless audio devices more efficient & user-friendly as well as the expansion of e-commerce, the availability of wireless audio devices has increased, making it easier for consumers to purchase them. Additionally, decreasing cost of wireless audio technology has made these devices more affordable for consumers, fuelling demand.

Such factors are expected to accelerate the adoption of wireless audio devices systems in the European region.

Category-wise Insights

Why Headphone Segment Is Analysed to Have the Significant Market Share in The Wireless Audio Devices Market?

Headphone segment is having a dominant position in the wireless audio devices market with the share of 38.7%, owing to the factors such as the rise of mobile devices, consumers are looking for headphones that offer the convenience of wireless connectivity & the ability to move freely without being tethered to a device.

Additionally, Improvements in wireless technology have resulted in better sound quality and longer battery life, making wireless headphones more appealing to consumers. Moreover, wireless headphones are becoming more popular among people who lead active lifestyles, such as runners and gym-goers, as they provide greater freedom of movement. Such factors are leading to the increased market share of headphone segment in wireless audio devices market.

Why Bluetooth Segment Held the Largest Market Share in The Wireless Audio Devices Market In 2022?

Based on the technology, Bluetooth wireless audio devices market held the largest market share of 37.8% in 2022. This market growth is attributed to the factors such as growing popularity of voice-activated virtual assistants like Amazon Alexa and Google Assistant, is boosting demand for Bluetooth audio devices that are compatible with these platforms.

Additionally, rising trend of smart home devices, such as smart speakers & smart displays, is another factor contributing to the growth of the Bluetooth audio device market. Furthermore, expansion of e-commerce and online retail has made it easier for consumers to purchase Bluetooth audio devices, and this has also driven the market growth.

Competitive Landscape

In addition to some established brands, there are many smaller players that are offering cheaper alternatives. To succeed in this market, companies are required to offer products that have unique features, superior sound quality, and a user-friendly design.

  • In January 2023, OnePlus HAD launched Buds Pro 2 wireless earbuds with Google Android's Spatial Audio. It is among the first wireless earbuds to incorporate Google's signature locational audio feature.
  • In January 2023, Apple had launched HomePod 2, its next-generation wireless speaker. It has a configuration that is very equivalent to the original Apple HomePod, but it has a newly designed audio system which is even more geared toward Dolby Atmos & Spatial Audio.

Recent developments related to key players providing wireless audio devices market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Business Transcription Industry Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2018-2022

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • Turkey
  • South Africa
  • GCC Countries

Key Market Segments Covered

  • Product
  • Technology
  • Distribution Channel
  • End User
  • Region

Key Companies Profiled

  • Panasonic Corporation
  • Bose Corporation
  • Yamaha Corporation
  • Sony Corporation
  • JVC KENWOOD Corporation
  • Logitech International S.A
  • Marshall
  • Samsung Electronics
  • Panasonic Corporation
  • Sonos
  • boAtlifestyle.in
  • Philips

Pricing

Available upon Request

Key Segments of wireless audio devices Market Industry Research

Product:

  • Earphones
  • Headphones
  • Portable Speakers

Technology:

  • Bluetooth
  • Wi-Fi
  • Others

Distribution Channel:

  • Organized Retail
  • Unorganized Retail
  • Online/E-commerce

End User:

  • Residential
  • Commercial

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East and Africa

To know more about delivery timeline for this report Contact Sales

Companies Covered in This Report

  • Panasonic Corporation
  • Bose Corporation
  • Yamaha Corporation
  • Sony Corporation
  • JVC KENWOOD Corporation
  • Logitech International S.A
  • Marshall
  • Samsung Electronics
  • Panasonic Corporation
  • Sonos
  • boAtlifestyle.in
  • Philips

Frequently Asked Questions

In 2022, the market value of wireless audio devices was US$ 7,266.1 Mn.

The global wireless audio devices market is estimated to advance at a 19.1% CAGR through 2033.

The market for wireless audio devices is forecasted to climb to US$ 47,378.8 Mn by 2033 end.

Demand for wireless audio devices market in India is projected to rise at a CAGR of 24.6% over the forecast period.

In 2022, the North America wireless audio devices market held a dominant market share of 28.4%.  

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