Overview:
The global Wireless Audio Market size is expected to grow up
to USD 70 billion by 2027 by registering around 17% CAGR during the forecast
period of 2019 to 2027. Market Research Future (MRFR) believes that the market
has a chance of registering better growth as factors like growing competition
among players, hike in the inclusion of technologies, growing demand from
several end user companies, attractive designs, increasing demand for gadgets
that require such electronic devices for support, the growing instance of work
from home, and others are bolstering the global market.
Competitive Landscape:
Bose Corporation (U.S.), Voxx International Corporation
(U.S.), Sony Corporation (Japan), LG Electronics (South Korea), Sennheiser
Electronic Gmbh & Company Kg (Germany), Koninklijke Philips N.V.
(Netherlands), Sonos, Inc. (U.S.), Apple Inc. (U.S.), Vizio Holdings, Inc.
(U.S.), and Samsung Electronics Co., Ltd (South Korea) are some of the big
shots involved in devising strategies for the global wireless audio devices
market.
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Segmentation:
The global report containing the wireless audio device market
study includes a discussion based on the product, technology, and end user.
These segments reveal data that got sieved by analysts later to provide a
better understanding of the market flow and prepare a ground for devising
efficient strategies.
By product, the global report on the Wireless
Audio Devices Market Analysis reveals segments like wireless headsets,
soundbars, wireless speaker systems, wireless microphones, and others.
By technology, the global study of the wireless audio device
market includes segments like Wi-Fi, Airplay, Bluetooth, and others. The
Bluetooth technology is expected to cross USD 36.46 billion mark.
By end-user, the report on the wireless audio device market
comprises an understanding of electronics, telecommunication, commercial,
security & defense, automotive, and others. The automotive segment has a
huge scope for growth.
Regional Analysis:
Low-cost equipment and rising intake of smartphones are
expected to help North America maintain its dominant position. The region has
Asia Pacific and Europe in its tail. The US market has a scope to register
around 16% CAGR during the forecast period.
Industry News:
In August 2020, Samsung has unveiled its new Galaxy Buds Live.
The product looks convenient and its outer design looks quite attractive for
daily use. It is a part of what Samsung believes the wider Galaxy ecosystem
that improves healthy life, better communication, and maximum input from
technology. The new TWS earbuds display new designs that the company projects
as extremely ergonomic and comes with an ability to provide great comfort. The
company has upgraded the model with AKG-tuned 12mm drivers to improve sound
quality. It also has a bass duct to deliver the same result. It comes with
three microphones and a Voice Pickup Unit to ensure clear audio quality during
the call. It also has an Active Noise Cancellation that would place it ahead of
many of its competitors.
In July 2020, Qualcomm Technologies International, Ltd., or
QTIL, recently announced its collaboration with India's e-commerce company
Flipkart to launch its range of wireless audio devices under the HRX brand in
India. Qualcomm powered products, an exclusive part of the new HRX audio
collection, include - Neckband 1 ― HRX Wave 7R, True Wireless Earbuds – HRX
X-Drops 9G, and Neckband 2 ― HRX X-wave 14 R.
During the COVID-19 pandemic, the market has experienced some
drastic changes due to the changes in workplace policies. Companies started
preferring work from home, which witnessed a rapid uptake of wireless audio
devices. In fact, the education sector, which is now relying on virtual media,
has recorded a jump in the sales of the product.
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