Product Code: SE 3050
The Wireless Audio Device Market is projected to reach from USD 56.5 billion in 2024 to USD 70.9 billion by 2029; it is expected to grow at a CAGR of 4.7% from 2024 to 2029. Consumers are becoming increasingly aware of smart gadget features, components, and value propositions. This empowers individuals to make better purchasing judgments. The popularity of smart voice assistants originates from their capacity to improve users' daily lives in a practical and enjoyable manner. Encouragement and social interaction influence user happiness with AI-enabled products. Smart speakers' broad adoption opens up new potential for radio to improve its technological reach and broadcasting, and also to grow into podcasting and in-car audio.
Scope of the Report |
Years Considered for the Study | 2018-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million) |
Segments | Type, Application, and Region |
Regions covered | North America, Asia Pacific, Europe, Middle East & Africa, and South America |
Key players operating in the wireless audio device market are Apple Inc (US), SAMSUNG (South Korea), Bose Corporation (US), Sonos, Inc. (US), Sony Corporation (Japan).
"The true wireless hearable/earpods is projected to grow at the highest CAGR during the forecast period."
The market is driven by continuous developments in characteristics such as noise reduction, gesture controls, audio assistance, audio quality, lifespan of batteries, and connection. The potential to create an immersive, three-dimensional listening experience is growing into a popular attribute among consumers when selecting earbuds. The increased popularity of smartphones is boosting the TWS earbuds market, because they are commonly sold as smartphone accessories.
"The Bluetooth technology is projected to have the highest growth during the forecast period."
The use of Bluetooth is gaining popularity for various compelling reasons, including its adaptability, efficiency, and ongoing innovation. Bluetooth has proven its position as an important technology in a variety of industries, including audio, healthcare, smart homes, and industrial IoT. The ability to offer wireless communication between devices makes it indispensable for advanced technologies. Bluetooth's low power consumption is one of its most distinguishing characteristics. The efficiency is especially important for battery-powered devices, which may operate for a longer period of time without the need for frequent recharging.
"Asia Pacific region is likely to register highest CAGR."
Rapid development in Asia-Pacific countries is contributing to a more independent lifestyle. Consumers want audio solutions that are convenient for their on-the-go activities, such as commuting or working out. Wireless audio devices meet this desire by offering the option of unattached listening. As disposable incomes improve in many Asia-Pacific countries, people are more prepared to invest in technological goods, such as wireless audio devices. Consumers are also drawn to the visual appeal and range of styles available on the market, which allows them to select products that match their unique style.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type - Tier 1 - 18%, Tier 2 - 22%, Tier 3 - 60%
- By Designation- C-level Executives - 21%, Directors - 35%, Others - 44%
- By Region-North America - 45%, Europe - 20%, Asia Pacific - 30%, RoW - 5%
The wireless audio device market is dominated by a few globally established players such as Apple Inc (US), SAMSUNG (South Korea), Bose Corporation (US), Sonos, Inc. (US), Sony Corporation (Japan), Masimo (US), Sennheiser electronic SE & Co. KG (Germany), VOXX International Corp.(US), VIZIO, Inc. (US), Marshall Group AB (Sweden). The study includes an in-depth competitive analysis of these key players in the wireless audio device market, with their company profiles, recent developments, and key market strategies.
Research Coverage:
The report segments the wireless audio device market and forecasts its size by product, technology, application, functionality, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions-North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the wireless audio device ecosystem.
Key Benefits to Buy the Report:
- Analysis of Key Drivers (Surge in demand for truly wireless (TWS) earbuds and headphones, Adoption of wireless audio devices in commercial sector, Rising need for Bluetooth and portable speakers). Restraints (Restrictive radio frequency spectrum in audio equipment, Hearing impairment from prolonged use of headphones and earbuds, Interference caused by wireless audio devices in functioning of implanted medical devices). Opportunities (Gaining popularity among health and fitness sector, Advent of Bluetooth LE Audio, Integration of smart home assistants and home theaters) and Challenges (Compromising audio quality due to bandwidth constraints, coding delays, and errors).
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the wireless audio device market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the wireless audio device market across varied regions.
- Market Diversification: Exhaustive information about new solutions, untapped geographies, recent developments, and investments in the wireless audio device market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Apple Inc (US), SAMSUNG (South Korea), Bose Corporation (US), Sonos, Inc. (US), Sony Corporation (Japan) among others in the wireless audio device market.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 STUDY OBJECTIVES
- 1.2 MARKET DEFINITION
- 1.3 STUDY SCOPE
- 1.3.1 MARKETS & REGIONS COVERED
- 1.3.2 YEARS CONSIDERED
- 1.3.3 INCLUSIONS AND EXCLUSIONS
- 1.4 CURRENCY CONSIDERED
- 1.5 UNITS CONSIDERED
- 1.6 LIMITATIONS
- 1.7 STAKEHOLDERS
- 1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
- 2.1 INTRODUCTION
- 2.2 RESEARCH DATA
- 2.2.1 SECONDARY DATA
- 2.2.1.1 Secondary sources
- 2.2.1.2 Key data from secondary sources
- 2.2.2 PRIMARY DATA
- 2.2.2.1 Breakdown of primary interviews
- 2.2.2.2 Key data from primary sources
- 2.2.2.3 Key industry insights
- 2.2.2.4 Primary sources
- 2.3 FACTOR ANALYSIS
- 2.4 MARKET SIZE ESTIMATION
- 2.4.1 BOTTOM-UP APPROACH
- 2.4.1.1 Approach to estimate market size using bottom-up analysis
- 2.4.2 TOP-DOWN APPROACH
- 2.4.2.1 Approach to estimate market size using top-down approach (supply side)
- 2.5 MARKET BREAKDOWN & DATA TRIANGULATION
- 2.6 RESEARCH ASSUMPTIONS
- 2.7 RESEARCH LIMITATIONS
- 2.8 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN WIRELESS AUDIO DEVICE MARKET
- 4.2 WIRELESS AUDIO DEVICE MARKET, BY APPLICATION
- 4.3 WIRELESS AUDIO DEVICE MARKET, BY TECHNOLOGY
- 4.4 WIRELESS AUDIO DEVICE MARKET, BY PRODUCT
- 4.5 WIRELESS AUDIO DEVICE MARKET, BY FUNCTIONALITY
- 4.6 WIRELESS AUDIO DEVICE MARKET IN ASIA PACIFIC, BY APPLICATION AND FUNCTIONALITY
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Elevating demand for true wireless earbuds and headphones
- 5.2.1.2 Rising adoption of wireless audio devices in commercial sector
- 5.2.1.3 Increasing use of Bluetooth and portable speakers
- 5.2.2 RESTRAINTS
- 5.2.2.1 Restrictive radio frequency spectrum in audio equipment
- 5.2.2.2 Hearing impairment from prolonged use of headphones and earbuds
- 5.2.2.3 Disruption in operation of implanted medical devices due to interference from wireless audio devices
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Popularity of wireless audio devices in health and fitness sector
- 5.2.3.2 Advent of Bluetooth LE Audio
- 5.2.3.3 Integration of smart home assistants and home theaters
- 5.2.4 CHALLENGES
- 5.2.4.1 Compromised audio quality due to bandwidth constraints, coding delays, and errors
- 5.3 VALUE CHAIN ANALYSIS
- 5.4 ECOSYSTEM ANALYSIS
- 5.5 INVESTMENT AND FUNDING SCENARIO
- 5.6 PRICING ANALYSIS
- 5.6.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY PRODUCT
- 5.6.2 AVERAGE SELLING PRICE TREND OF WIRELESS AUDIO DEVICES, BY REGION
- 5.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
- 5.8 TECHNOLOGY ANALYSIS
- 5.8.1 KEY TECHNOLOGIES
- 5.8.1.1 Bluetooth
- 5.8.1.2 Wi-Fi
- 5.8.2 CONTEMPORARY TECHNOLOGIES
- 5.8.2.1 Active voice cancellation (AVC)
- 5.8.2.2 Near field communication (NFC)
- 5.8.3 ADJACENT TECHNOLOGIES
- 5.8.3.1 Augmented reality (AR) and virtual reality (VR)
- 5.8.3.2 Smart home integration
- 5.9 PORTER'S FIVE FORCES ANALYSIS
- 5.9.1 THREAT OF NEW ENTRANTS
- 5.9.2 THREAT OF SUBSTITUTES
- 5.9.3 BARGAINING POWER OF SUPPLIERS
- 5.9.4 BARGAINING POWER OF BUYERS
- 5.9.5 INTENSITY OF COMPETITIVE RIVALRY
- 5.10 KEY STAKEHOLDERS AND BUYING CRITERIA
- 5.10.1 KEY STAKEHOLDERS IN BUYING PROCESS
- 5.10.2 BUYING CRITERIA
- 5.11 CASE STUDY ANALYSIS
- 5.11.1 ROWKIN, INC. (US) INTEGRATES BLUETOOTH 5.0 TECHNOLOGY IN ITS EARBUDS FOR QUICK PAIRING AND ENHANCED AUDIO QUALITY
- 5.11.2 TIMEKETTLE TECHNOLOGY INTRODUCES AI-POWERED TRANSLATOR EARBUDS FOR SEAMLESS MULTILINGUAL COMMUNICATION
- 5.11.3 WISEER ENABLES INTUITIVE MUSIC CONTROLS USING NEURAL INTERFACE TECHNOLOGY
- 5.12 TRADE ANALYSIS
- 5.12.1 IMPORT SCENARIO (HS CODE 851830)
- 5.12.2 EXPORT SCENARIO (HS CODE 851830)
- 5.13 PATENT ANALYSIS
- 5.14 KEY CONFERENCES AND EVENTS
- 5.15 REGULATORY LANDSCAPE
- 5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- 5.15.2 STANDARDS
- 5.15.2.1 ISO/IEC 18000-6:2010
- 5.15.2.2 ISO 14915-1:2002
- 5.16 IMPACT OF AI/GEN AI ON WIRELESS AUDIO DEVICE MARKET
- 5.16.1 INTEGRATION OF AI INTO WIRELESS AUDIO DEVICES: USE CASES
- 5.16.1.1 Sony WH-100XM4
- 5.16.1.2 AirPods Pro by Apple
- 5.16.1.3 Noise Cancelling Headphones 700 by Bose
- 5.16.1.4 The Dash Pro by Bragi
6 WIRELESS AUDIO DEVICE MARKET, BY PRODUCT
- 6.1 INTRODUCTION
- 6.2 HEADPHONES
- 6.2.1 INCORPORATION OF ADVANCED NOISE-ISOLATING FEATURES TO FUEL DEMAND FOR WIRELESS HEADPHONES
- 6.3 EARPHONES
- 6.3.1 ASIA PACIFIC TO BE LARGEST MARKET FOR WIRELESS AUDIO DEVICE IN EARPHONES SEGMENT
- 6.4 TRUE WIRELESS HEARABLES/EARBUDS
- 6.4.1 AIRPLAY AND BLUETOOTH TECHNOLOGIES TO DRIVE GROWTH OF TRUE WIRELESS HEARABLES/EARBUDS
- 6.5 SPEAKERS
- 6.5.1 RISING DEMAND FOR PORTABLE WIRELESS AUDIO SOLUTIONS TO DRIVE MARKET
- 6.6 SOUNDBARS
- 6.6.1 DEMAND FOR SOUNDBARS GROWING DUE TO THEIR COMPATIBILITY WITH TV SETS, SMARTPHONES, AND MUSIC SYSTEMS
7 WIRELESS AUDIO DEVICE MARKET, BY TECHNOLOGY
- 7.1 INTRODUCTION
- 7.2 BLUETOOTH
- 7.2.1 OFFERS GOOD SOUND QUALITY AND LOWER LATENCY
- 7.3 WI-FI
- 7.3.1 CAPABILITY TO SEAMLESSLY STREAM SAME AUDIO AMONG MULTIPLE DEVICES TO DRIVE DEMAND
- 7.4 AIRPLAY
- 7.4.1 INTEGRATION OF AIRPLAY WITH APPLE DEVICES TO ENSURE USER-FRIENDLY EXPERIENCE TO SUPPORT MARKET GROWTH
- 7.5 RADIO FREQUENCY
- 7.5.1 RADIO FREQUENCY TECHNOLOGY CRITICAL FOR LIVE PERFORMANCES AND GAMING APPLICATIONS DUE TO ITS LOWER LATENCY
- 7.6 OTHER TECHNOLOGIES
- 7.6.1 WIRELESS SPEAKER & AUDIO (WISA)
- 7.6.2 KLEERNET
- 7.6.3 ALLPLAY
- 7.6.4 SKAA
- 7.6.5 PLAY-FI
- 7.6.6 INFRARED (IR)
8 WIRELESS AUDIO DEVICE MARKET, BY FUNCTIONALITY
- 8.1 INTRODUCTION
- 8.2 SMART DEVICES
- 8.2.1 INTEGRATION OF VOICE ASSISTANTS INTO WIRELESS HOME AUDIO DEVICES TO DRIVE MARKET
- 8.3 NON-SMART DEVICES
- 8.3.1 DURABILITY AND AFFORDABILITY DRIVING DEMAND FOR NON-SMART WIRELESS AUDIO DEVICES
9 WIRELESS AUDIO DEVICE MARKET, BY APPLICATION
- 9.1 INTRODUCTION
- 9.2 HOME AUDIO
- 9.2.1 REDUCED FLOOR SPACE WITH COMPACT DESIGNS TO FUEL MARKET GROWTH
- 9.3 PROFESSIONAL
- 9.3.1 ENHANCED REMOTE WORK EFFICIENCY WITH NOISE-CANCELLING TECHNOLOGY TO DRIVE MARKET GROWTH
- 9.4 CONSUMER
- 9.4.1 INCREASING ADOPTION OF BLUETOOTH + WI-FI TECHNOLOGY TO DRIVE MARKET
- 9.5 AUTOMOTIVE
- 9.5.1 INCORPORATION OF FULLY WIRELESS AUDIO DEVICES AND IN-CAR INFOTAINMENT SYSTEMS IN LUXURY VEHICLES TO DRIVE MARKET
- 9.6 OTHER APPLICATIONS
10 WIRELESS AUDIO DEVICE MARKET, BY REGION
- 10.1 INTRODUCTION
- 10.2 NORTH AMERICA
- 10.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA
- 10.2.2 US
- 10.2.2.1 Rising popularity of online streaming services to drive demand
- 10.2.3 CANADA
- 10.2.3.1 Adoption of innovative products to support market growth
- 10.2.4 MEXICO
- 10.2.4.1 Huge investments in E-commerce and retail channels to drive market
- 10.3 EUROPE
- 10.3.1 MACROECONOMIC OUTLOOK FOR EUROPE
- 10.3.2 UK
- 10.3.2.1 Growing popularity of online music and radio streaming to fuel market growth
- 10.3.3 GERMANY
- 10.3.3.1 Increased adoption of soundbars and wireless portable speakers to drive demand
- 10.3.4 FRANCE
- 10.3.4.1 Adoption of voice assistants for smart home applications to contribute to market growth
- 10.3.5 REST OF EUROPE
- 10.4 ASIA PACIFIC
- 10.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC
- 10.4.2 CHINA
- 10.4.2.1 Strong manufacturing sector to fuel market growth
- 10.4.3 JAPAN
- 10.4.3.1 Surging demand for consumer electronics equipped with wireless audio devices to boost market
- 10.4.4 SOUTH KOREA
- 10.4.4.1 Increasing focus on developing wireless audio products to foster market growth
- 10.4.5 INDIA
- 10.4.5.1 True wireless hearables/earbuds segment to register highest CAGR during forecast period
- 10.4.6 REST OF ASIA PACIFIC
- 10.5 REST OF THE WORLD (ROW)
- 10.5.1 MACROECONOMIC OUTLOOK FOR ROW
- 10.5.2 SOUTH AMERICA
- 10.5.2.1 Adoption of emerging technologies to support market growth
- 10.5.3 MIDDLE EAST & AFRICA
- 10.5.3.1 Rising demand for wireless headphones and wireless speakers to fuel market growth
11 COMPETITIVE LANDSCAPE
- 11.1 OVERVIEW
- 11.2 KEY STRATEGIES/RIGHT TO WIN
- 11.3 MARKET SHARE ANALYSIS
- 11.4 REVENUE ANALYSIS
- 11.5 COMPANY VALUATION AND FINANCIAL METRICS
- 11.6 BRAND/PRODUCT COMPARISON
- 11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
- 11.7.1 STARS
- 11.7.2 EMERGING LEADERS
- 11.7.3 PERVASIVE PLAYERS
- 11.7.4 PARTICIPANTS
- 11.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
- 11.7.5.1 Company footprint
- 11.7.5.2 Product footprint
- 11.7.5.3 Application footprint
- 11.7.5.4 Region footprint
- 11.8 STARTUPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX, 2023
- 11.8.1 PROGRESSIVE COMPANIES
- 11.8.2 RESPONSIVE COMPANIES
- 11.8.3 DYNAMIC COMPANIES
- 11.8.4 STARTING BLOCKS
- 11.8.5 COMPETITIVE BENCHMARKING
- 11.8.5.1 Detailed list of key startups/SMEs
- 11.8.5.2 Competitive benchmarking of key startups/SMEs
- 11.9 COMPETITIVE SCENARIO AND TRENDS
- 11.9.1 PRODUCT LAUNCHES
- 11.9.2 DEALS
12 COMPANY PROFILES
- 12.1 KEY PLAYERS
- 12.1.1 APPLE INC.
- 12.1.1.1 Business overview
- 12.1.1.2 Products/Solutions/Services offered
- 12.1.1.3 Recent developments
- 12.1.1.3.1 Product launches/developments
- 12.1.1.4 MnM view
- 12.1.1.4.1 Key strengths
- 12.1.1.4.2 Strategic choices
- 12.1.1.4.3 Weaknesses and competitive threats
- 12.1.2 HARMAN INTERNATIONAL (SUBSIDIARY OF SAMSUNG ELECTRONICS)
- 12.1.2.1 Business overview
- 12.1.2.2 Products/Solutions/Services offered
- 12.1.2.3 Recent developments
- 12.1.2.3.1 Product launches/developments
- 12.1.2.3.2 Deals
- 12.1.2.4 MnM view
- 12.1.2.4.1 Key strengths
- 12.1.2.4.2 Strategic choices
- 12.1.2.4.3 Weaknesses and competitive threats
- 12.1.3 XIAOMI
- 12.1.3.1 Business overview
- 12.1.3.2 Products/Solutions/Services offered
- 12.1.3.3 Recent developments
- 12.1.3.3.1 Product launches/developments
- 12.1.3.4 MnM view
- 12.1.3.4.1 Key strengths
- 12.1.3.4.2 Strategic choices
- 12.1.3.4.3 Weaknesses and competitive threats
- 12.1.4 SONY CORPORATION
- 12.1.4.1 Business overview
- 12.1.4.2 Products/Solutions/Services offered
- 12.1.4.3 Recent developments
- 12.1.4.3.1 Product launches/developments
- 12.1.4.4 MnM view
- 12.1.4.4.1 Key strengths
- 12.1.4.4.2 Strategic choices
- 12.1.4.4.3 Weaknesses and competitive threats
- 12.1.5 IMAGINE MARKETING LIMITED
- 12.1.5.1 Business overview
- 12.1.5.2 Products/Solutions/Services offered
- 12.1.5.3 Recent developments
- 12.1.5.3.1 Product launches/developments
- 12.1.5.4 MnM view
- 12.1.5.4.1 Key strengths
- 12.1.5.4.2 Strategic choices
- 12.1.5.4.3 Weaknesses and competitive threats
- 12.1.6 BOSE CORPORATION
- 12.1.6.1 Business overview
- 12.1.6.2 Products/Solutions/Services offered
- 12.1.6.3 Recent developments
- 12.1.6.3.1 Product launches/developments
- 12.1.6.3.2 Deals
- 12.1.6.4 MnM view
- 12.1.6.4.1 Key strengths
- 12.1.6.4.2 Strategic choices
- 12.1.6.4.3 Weaknesses and competitive threats
- 12.1.7 SONOS, INC.
- 12.1.7.1 Business overview
- 12.1.7.2 Products/Solutions/Services offered
- 12.1.7.3 Recent developments
- 12.1.7.3.1 Product launches/developments
- 12.1.7.3.2 Deals
- 12.1.7.4 MnM view
- 12.1.7.4.1 Key strengths
- 12.1.7.4.2 Strategic choices
- 12.1.7.4.3 Weaknesses and competitive threats
- 12.1.8 MASIMO
- 12.1.8.1 Business overview
- 12.1.8.2 Products/Solutions/Services offered
- 12.1.8.3 Recent developments
- 12.1.8.3.1 Product launches/developments
- 12.1.8.3.2 Deals
- 12.1.9 SENNHEISER ELECTRONIC SE & CO. KG
- 12.1.9.1 Business overview
- 12.1.9.2 Products/Solutions/Services offered
- 12.1.9.3 Recent developments
- 12.1.9.3.1 Product launches/developments
- 12.1.9.3.2 Deals
- 12.1.10 VIZIO, INC.
- 12.1.10.1 Business overview
- 12.1.10.2 Products/Solutions/Services offered
- 12.1.10.3 Recent developments
- 12.1.10.3.1 Product launches/developments
- 12.1.10.3.2 Deals
- 12.1.11 VOXX INTERNATIONAL CORP.
- 12.1.11.1 Business overview
- 12.1.11.2 Products/Solutions/Services offered
- 12.1.11.3 Recent developments
- 12.1.11.3.1 Product launches/developments
- 12.1.11.3.2 Deals
- 12.1.12 MARSHALL GROUP AB
- 12.1.12.1 Business overview
- 12.1.12.2 Products/Solutions/Services offered
- 12.1.12.3 Recent developments
- 12.1.12.3.1 Product launches/developments
- 12.2 OTHER PLAYERS
- 12.2.1 YAMAHA CORPORATION
- 12.2.2 LG ELECTRONICS
- 12.2.3 BANG & OLUFSEN
- 12.2.4 GN STORE NORD A/S
- 12.2.5 PLANTRONICS, INC.
- 12.2.6 SHURE
- 12.2.7 DALI
- 12.2.8 JAYBIRD
- 12.2.9 ANKER INNOVATIONS
- 12.2.10 RAZER INC.
- 12.2.11 HP DEVELOPMENT COMPANY, L.P.
- 12.2.12 EDIFIER
- 12.2.13 NOTHING TECHNOLOGY LIMITED
13 APPENDIX
- 13.1 INSIGHTS OF INDUSTRY EXPERTS
- 13.2 DISCUSSION GUIDE
- 13.3 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 13.4 CUSTOMIZATION OPTIONS
- 13.5 RELATED REPORTS
- 13.6 AUTHOR DETAILS