Wireless Audio Equipments Market Size, Share, Growth and Industry Analysis by Type (Headphones, Headsets, Speaker Systems, Soundbars, Microphones And, Others) By Application (Commercial, Consumer, Automotive, And, Others) Regional Forecast To 2031

Wireless Audio Equipments Market Report Overview

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The wireless audio equipments market size is anticipated to be worth USD 23.200 billion in 2022 and the market is projected to touch USD 47.789 billion by 2030 with a CAGR of 9.5 % during the forecast period.

The market's growth and demand returning to pre-pandemic levels when the pandemic is finished is what caused the abrupt increase in CAGR.

A wireless audio equipment is a part of the wireless audio system. It provides connectivity, flexibility, convenience, and expandability. They work with the help of Bluetooth, infrared, radio frequency, and, Wi-fi. They can also be used for streaming music from devices that are audio enabled to wireless output systems. 

In the past few days many infotainment devices have gained a lot of market. The increasing sale of devices like laptops, computers, and tabs has amplified the market growth. This is considered as the latest development in the market.

Increasing use of wireless audio equipments in commercial and gaming sector is providing growth opportunities for the market. Mobility services have gained popularity over the years.  These acts as the factors driving the market wireless audio equipments market growth.

COVID-19 impact: Reduction in Demand for Automotive Industry Reduced Market Growth

The pandemic of COVID-19 created a lot of problems to all the sectors. The uncertainty caused by the market affected every market. Wireless audio equipments are majorly used in four important sectors. These sectors include automotive, commercial, consumer, and security and defense.

During the time of pandemic there was a decrease in the demand for automotives. This had a direct impact on the wireless audio equipments market. Another factor that affected the market was the sudden decline in the process of manufacturing. The demand decreased whereas the supply remained high. Therefore, there was no equilibrium in the supply chain of the product. All of these factors affected the market during the pandemic.

LATEST TRENDS

"High Demand for Infotainment Devices to Increase Market Growth"

Wireless audio equipments are used mainly as support accessories especially for devices like smartphones, laptops, as well as in gaming consoles. Apart from this they are also used in industries, office spaces, sport complex, government organizations IT parks as well as hotels. Their vast uses in different sectors have considerably increased their demand.

Recently there has been a great level of penetration of infotainment devices. Television, personal computers, and vehicle infotainment devices have increased in the past few years. High level of penetration by such devices. This is considered as the latest trend in the market.

Wireless Audio Equipments Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

Headphones, Headsets, Speaker Systems, Soundbars, Microphones and, Others. The headphones segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Commercial, Consumer, Automotive, and, Others. The commercial segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Adoption of Wireless Equipments in Commercial Sector to Accelerate Market Growth"

Wireless audio equipments are being used in commercial sector along with automotive, and consumer sector. These devices form a major part of education, media, entertainment, and corporate.  This has helped in increasing the market growth.

Wireless audio devices like cellular phones, Bluetooth devices, and portable mp3 players are used in conferences, news events, broadcasting of live events, meetings, auctions, and sports events. Wireless devices like speaker systems, microphones, and headphones are also used for gaming. This has increased the wireless audio equipment wireless audio equipments markets share.

"Rising requirement for mobility services to Propel Market Growth "

Mobility services have become the need of the hour. Mobility services use joint digital channels to allow the users to pay, plan, and even book, different types of services. There is a shift from personally owned modes towards mobility.

Wireless audio equipments fulfill requirements like seamless connectivity, required by the customers. Easy access to resources and information is one of more advantage. Such devices can easily be carried from one place to another. They are also remotely accessible, and manageable. Wireless devices can be very helpful in providing good experiences to the customers as they embody certain feature like easy installation, wireless operation, and, fast audio transmission.

RESTRAINING FACTOR

"Limitations Imposed on Radiofrequency Spectrums to Decrease Market Growth"

Wireless audio equipments make use of radiofrequency spectrums for the purpose of communication. These radiofrequency spectrums are electromagnetic signals. Certain devices have a range on such frequencies. The frequencies can lie between the range of 3Khz to 300 GHz.

However, there are certain limitations that have been imposed on these frequencies by the Federal Communications Commission (FCC). The FCC controls radio frequencies in electronic devices. Some of the wireless audio equipments are subject to the authorization rules given by the commission. This can act as a major factor hampering the market growth.  

Wireless Audio Equipments Market Regional Insights

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"North America to Dominate Market Share in Upcoming Years"

North America is predominantly occupying the largest share in the market. This growth is driven by factors like increasing use of audio streaming devices that are wireless like earphones, headphones, and speakers in this particular region. 

Music industry is very rapidly developing in North America.  With the growth of music market in this region the adoption of such wireless devices has also increased. All these factors have made North America the leading shareholder in the market.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

LIST OF TOP WIRELESS AUDIO EQUIPMENTS COMPANIES

• Apple Inc. (U.S.)
• Samsung Electronics Co., Ltd. (South Korea)
• Sony Corporation (Japan)
• Voxx International Corporation (U.S.)
• Harman International Industries, Incorporated (U.S.)
• Bose Corporation (U.S.)
• Sonos (U.S.)
• Dei Holdings (India)
• Sennheiser Electronic GmbH & Co. Kg (Germany)
• Vizio, Inc (U.S.)
• Ossic Corporation (U.S.)
• Phazon (U.S.)
• Trusound Audio (India)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. The top industrial players along with the region that dominates the market has also been given for the readers to know.