Wireless Audio Device Market Size Global Forecast Research to 2026

The latest Wireless Audio Device market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most players in this market. The major players in the wireless audio device market are Apple (US), Sony Corporation (Japan), Harman International Industries (South Korea), Sonos (US) and Bose Corporation (US). The wireless audio device market size is projected to grow from USD 69.6 billion in 2021 and to reach USD 153.3 billion by 2026; it is expected to grow at a CAGR of 17.1% during the forecast period.

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COVID-19 Impact on the Global Wireless Audio Device Market

The COVID-19 pandemic has resulted in disruptions across the world, which led to the global health and financial crisis. The wireless audio device market, too, has been affected by the pandemic. The major players in the North American region faced supply issues owing to the lockdowns and movement restrictions imposed by several governments. The region also witnessed a shortage of semiconductor chips as the production was halted to contain the spread of the virus.

The region witnessed a decline in revenue caused by the pandemic in the first half of 2020. However, the demand started rising from the second half of 2020 for wireless audio devices after opening up the economic activity. The second half of 2020 witnessed a surge in the annual shipments for several consumer electronics, including personal audio devices arising out of several factors such as improvements in the infection rate, opening up of physical stores, shifting consumer behavior such as revenge buying, etc.

The COVID-19 pandemic has resulted in severe disruptions, which has halted the economic activities across Europe in the year 2020. The supply chain has been severely impacted due to the closing of factories and stores across Europe to curb the spread of the virus. The major players in the region, such as Zound Industries and GN Group in the wireless audio device market, have witnessed a decline in their shipments for wireless audio devices during the first two to three quarters of 2020. The situation fairly improved during the last quarter of 2020, where the movement restrictions and lockdowns imposed were lifted. The opening up of brick and mortar shops and the impartments in the supply chain have resulted in the increased demand for consumer electronics in general.

 Wireless Audio Device Market Dynamics

Driver: Surge in global demand for infotainment devices

With the advent of portable infotainment devices such as laptops, mobile phones, and tablets, the requirement for mobile accessories has increased globally. Smartphones use wireless audio technologies such as Bluetooth and Wi-Fi for data transfer and music streaming. These wireless technologies, such as Bluetooth or Wi-Fi, enable smartphones to provide an easy way to stream music to wireless speakers or headphones. Therefore, the increasing adoption of smartphones drives the growth of the wireless audio device market. For instance, Apple, Inc. uses AirPlay, a wireless audio technology incorporated in iPhones, which allows users to stream multimedia content to other AirPlay-supported and licensed products. Thus, the flourishing infotainment devices market is one of the major factors contributing to the growth of the wireless audio device market globally.

Restraint: Restrictions on the use of radiofrequency spectrum by wireless audio equipment

Wireless audio devices use a frequency range that is allocated to 4G and other data applications. In Australia, the 694-820 MHz frequency range was commonly used for the operations of wireless audio equipment such as microphones and headsets. However, in May 2013, the Australian Communications and Media Authority (ACMA) revised regulations related to the operations of wireless microphones and other audio devices in this frequency range in the country. This spectrum is reserved for mobile voice and data applications, thereby restricting the operations of wireless audio devices in the 694-820 MHz frequency range. Consequently, wireless microphones and audio devices were re-tuned to operate in 520–694 MHz or 1,790–1,800 MHz frequency ranges. Such stringent government regulations significantly affect the growth of the wireless audio device market, thereby acting as a restraint for the market.

Opportunity: Moving beyond the era of using headphones for audio-only

Presently, most of the manufacturers of headphones are focusing on improving the quality of the audio output of their devices to grab a large share of the wireless audio device market. However, the focus of manufacturers of wireless audio devices is expected to move beyond audio in the future. The development of smart devices has led the manufacturers to track health parameters using smart wearables. The companies are trying to develop several smart audio devices, which not only offers infotainment but also monitor health and track different parameters of the human body.

Challenge: Effect of bandwidth constraints, coding delays, and bit errors on audio quality

Engineers designing wireless audio devices must ensure that these devices deliver high-quality audio in real-time using wireless technology. Bandwidth constraints, coding delays, and bit errors affect the quality of the audio delivered by wireless audio devices. Though innovations in wireless technologies such as Bluetooth and Wi-Fi offer advantages in terms of reception of digital audio wherever and whenever required, the convergence of audio with video in consumer devices poses a challenge to manufacturers of these devices. Moreover, the availability of full bandwidth for wireless audio devices used in different applications is impractical. For instance, the maximum bandwidth available for Bluetooth data transfer is an advanced audio distribution profile (AD2P) of 768 kbps. Thus, the effect of bandwidth constraints, coding delays, and bit errors on audio quality acts as a challenge for the wireless audio device market.

The market for true wireless audio device/earbuds could grow at the highest CAGR during the forecast period

The true wireless hearables or earbuds segment is expected to witness exponential growth during the forecast period owing to the high demand for true wireless hearables among the consumer segment. The major player in the market, Apple (US), has a major market share in the true wireless hearables category. The other prominent players offering true wireless hearables are Samsung (South Korea), Bose Corporation (US), Sony Corporation (Japan), GN Group (Denmark), etc. The gradual shift from wired audio devices to wireless audio devices has resulted in major demand for earbuds. Moreover, the significant penetration of smartphones has also facilitated the growth of true wireless hearables.

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The market for Bluetooth technology is estimated to account for the largest share during the forecast period in the wireless audio device market

The Bluetooth segment of the wireless audio device market is projected to grow at the highest CAGR during the forecast period. Audio streaming in wireless audio devices used in consumer electronics is carried out using Bluetooth technology. The growth of this segment can be attributed to the initiatives undertaken by manufacturers to increase the throughput of wireless audio devices equipped with Bluetooth technology that is used in consumer electronics.

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