The wireless audio device market is projected to grow at CAGR of 18. 6% from 2020 to 2025, in terms of value. The wireless audio device market is projected to grow from USD 57. 3 billion in 2020 to USD 134.
New York, Feb. 14, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wireless Audio Device Market by Product, Technology, Application, Functionality, Region - Global Forecast to 2025" - https://www.reportlinker.com/p05226973/?utm_source=GNW
2 billion by 2025; it is expected to grow at a CAGR of 18.6% from 2020 to 2025. Surge in the global demand for infotainment devices, rise in use of wireless audio devices in commercial sector, and increased R&D expenditure by OEMs for the development of new and advanced wireless audio devices are fueling the growth of the wireless audio device market.
The consumer application segment of the wireless audio device market in APAC is projected to grow at the highest CAGR in terms of value during the forecast period.
Wireless audio devices such as headphones and headsets are used in consumer electronics such as smartphones, computers, and gaming consoles.Rising adoption of technologically-advanced smartphones has led to an increased demand for wireless headphones and headsets in APAC.
These smartphones can also be used to play music wirelessly through speaker systems and soundbars.
Based on functionality, the smart devices segment of the wireless audio device market is projected to grow at the highest CAGR in terms of value from 2020 to 2025.
Smart devices are those wireless audio devices that are used to track the health and fitness of users by recording and saving information related to their workouts that include the duration and the speed of their workouts.These devices modify audio, carry out language translation, and activate smart assistants to provide answers to verbally asked questions.
They also control different systems installed in homes through an inbuilt virtual assistant feature.
The home audio application segment of the wireless audio device market in APAC is projected to grow at the highest CAGR in terms of value during the forecast period.
The use of wireless audio devices for in-home applications has led to the increased global demand for wireless audio devices in APAC.Wired speakers and home theaters carry with them a mesh of wires.
They also limit the floor space area for users.However, wireless home audio systems enable the freedom of movement, both inside and outside homes.
These devices make the home theater systems or in-home entertainment systems highly viable and less complex.
Break-up of the profiles of primary participants is as follows:
• By Company Type: Tier 1 = 18%, Tier 2 = 22%, and Tier 3 = 60%
• By Designation: C-level Executives = 21%, Directors = 35%, and Others = 44%
• By Region: Americas = 45%, Europe = 20%, APAC = 30%, and RoW = 5%
Key players operating in the wireless audio device market are Apple Inc. (US), HARMAN International Industries Inc. (US), Bose Corporation (US), Sonos Inc. (US), Sony Corporation (Japan), DEI Holdings, Inc. (US), Sennheiser Electronic GmbH & Co. KG (Germany), VIZIO, Inc. (US), VOXX International Corporation (US), Plantronics Inc. (US), Ossic Corporation (US), Phazon (Canada), Trüsound Audio (US), Jam (US), Earin (Sweden), Human (US), Bragi (Germany), Jaybird (US), Devialet (France), and Dali A/S (Denmark).
This research report segments the wireless audio device market based on product, application, technology, functionality, and region.The report discusses major drivers, restraints, challenges, and opportunities pertaining to the wireless audio device market, as well as its value chain.
The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key growth strategies adopted by them.
Key Benefits of Buying the Report
The report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall wireless audio device market and its segments.This report is also expected to help stakeholders understand the competitive landscape of the market and gain insights to enhance the position of their businesses and plan suitable go-to-market strategies.
The report also helps them understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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