Wireless audio devices are electronic devices that use wireless technology to stream audio. These devices include wireless headphones, microphones, speakers, sound bars, and audio systems, among others. Wireless audio devices are mostly used for entertainment and communication purposes in personal and professional applications. Wi-Fi, Bluetooth, AirPlay, Sonos, and SKAA are some of the popular technologies used for wireless streaming of A/V signals. Wireless audio devices offer numerous advantages over wired devices such as portability, convenience, cost-effectiveness, efficiency, and flexibility.
The adoption of wireless audio devices has increased in the recent years, owing to features such as ease of access, remote operability, and efficient data exchange. Factors such as growth of consumer electronics market, technological advancements in digital platforms for wireless audio transmission, such as Sonos, SKAA, and others, untapped emerging markets, and high disposable income are expected to supplement the market growth. Improved user experience through cloud-based solutions for online music streaming has created ample opportunities for the market growth. However, stringent regulations regarding permissible frequency range of audio devices along with harmful effects on hearing ability of users due to excessive use of these devices hamper the market growth.
The wireless audio devices market is segmented on the basis of product type, technology, application, and geography. The product type segment includes wireless headsets & microphones, wireless speaker systems, sound bars, and others (radio tuner, power amplifier, and A/V controller). The technologies used for wireless streaming are Bluetooth, Wi-Fi, AirPlay, and others (SKAA, Sonos). Wireless audio devices have been increasingly adopted across different verticals including commercial, consumer, automotive, and others (defense and security). The wireless audio devices market is analyzed on the basis of geography, which includes North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is projected to be the fastest growing region among others, owing to high adoption of wireless audio devices in countries such as China, India, and Japan. The key players profiled in the report include Apple, Inc., Bose Corporation, Harman International Industries, Incorporated, Sony Corporation, Shure Incorporated, Koninklijke Philips N.V., Sonos, Inc., VIZIO, Inc., VOXX International Corporation, and Sennheiser Electronic GMBH & Co. KG.
The study provides an in-depth analysis of the wireless audio devices market along with current and future trends to elucidate the imminent investment pockets.
The report provides information regarding key drivers, restraints, and opportunities along with their impact analysis.
Porter’s Five Forces and SWOT analyses of key market players in the industry have been provided to highlight the growth strategies adopted by them.
The value chain analysis of the industry signifies the key intermediaries involved, and elaborates their roles and value additions at every stage of the value chain.
The quantitative analysis of the market during the period of 2014–2022 has been provided to elaborate the market potential.
Key market segments:
The market is segmented based on product, technology, application, and geography.
Wireless Headsets & Microphones
Wireless Speaker Systems
Others (Radio Tuner, Power Amplifier, A/V Controller)
Others (Sonos, SKAA)
Others (Defense and Security)
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
CHAPTER 2 EXECUTIVE SUMMARY
2.1 CXO Perspective
CHAPTER 3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key Findings
3.2.1 Top impacting factors
3.2.2 Top investment pockets
3.2.3 Top winning strategies
3.3 Porters five forces analysis
3.3.1 Low volume purchases of products and low switching cost of buyers moderate the bargaining power of suppliers
3.3.2 Presence of large number of companies in the market and low switching of buyers increase the competition in the market
3.3.3 The market is highly fragmented and there is a lack of industry leader which leads to the threat of new entrants in the market
3.3.4 Unavailability of strong substitute for wireless audio devices
3.3.5 Low substitution of products and price sensitivity of buyers moderate the bargaining power of buyer
3.4 Value chain analysis
3.5 Market share analysis, 2015
3.6 Market Dynamics
18.104.22.168 Increasing penetration of infotainment devices
22.214.171.124 Rising need for mobility services
126.96.36.199 High application of wireless audio devices in the commercial sector
188.8.131.52 Adverse effects on hearing ability
184.108.40.206 Regulations on the frequency range of audio devices
220.127.116.11 Rapid technological advancement
18.104.22.168 Customers increasing need for convenience
CHAPTER 4 WORLD WIRELESS AUDIO DEVICES MARKET BY PRODUCT
4.1 Wireless Headsets & Microphones
4.1.1 Key market trends
4.1.2 Key drivers and opportunities
4.1.3 Market size and forecast
4.2 Wireless Speaker Systems
4.2.1 Key market trends
4.2.2 Key drivers and opportunities
4.2.3 Market size and forecast
4.3 Sound bars
4.3.1 Key market trends
4.3.2 Key drivers and opportunities
4.3.3 Market size and forecast
4.4.1 Key market trends
4.4.2 Key drivers and opportunities
4.4.3 Market size and forecast
CHAPTER 5 WORLD WIRELESS AUDIO DEVICES MARKET BY TECHNOLOGY
5.1.1 Key market trends
5.1.2 Key drivers and opportunities
5.1.3 Market size and forecast
5.2.1 Key market trends
5.2.2 Key drivers and opportunities
5.2.3 Market size and forecast
5.3.1 Key market trends
5.3.2 Key drivers and opportunities
5.3.3 Market size and forecast
5.4.1 Key market trends
5.4.2 Key drivers and opportunities
5.4.3 Market size and forecast
CHAPTER 6 WORLD WIRELESS AUDIO DEVICES MARKET BY APPLICATION
6.1.1 Key market trends
6.1.2 Key drivers and opportunities
6.1.3 Market size and forecast
6.2.1 Key market trends
6.2.2 Key drivers and opportunities
6.2.3 Market size and forecast
6.3.1 Key market trends
6.3.2 Key drivers and opportunities
6.3.3 Market size and forecast
6.4.1 Key market trends
6.4.2 Key drivers and opportunities
6.4.3 Market size and forecast
CHAPTER 7 WORLD WIRELESS AUDIO DEVICES MARKET BY GEOGRAPHY
7.1 North America
7.1.1 Key market trends
7.1.2 Key drivers and opportunities
7.1.3 Market size and forecast
7.2.1 Key market trends
7.2.2 Key drivers and opportunities
7.2.3 Market size and forecast
7.2.7 Rest of Europe
7.3.1 Key market trends
7.3.2 Key drivers and opportunities
7.3.3 Market size and forecast
7.3.8 Rest of Asia-Pacific
7.4 Latin America, Middle East and Africa (LAMEA)
7.4.1 Key market trends
7.4.2 Key drivers and opportunities
7.4.3 Market size and forecast
7.4.6 Saudi Arabia
7.4.7 Rest of LAMEA
CHAPTER 8 COMPANY PROFILE
8.1 Apple Inc.
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Business performance
8.1.4 Key strategies and developments
8.1.5 SWOT analysis of Apple Inc.
8.2 Bose Corporation
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Key strategies and developments
8.2.4 SWOT analysis of Bose Corporation
8.3 HARMAN International Industries, Incorporated
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Business performance
8.3.4 Key strategies and developments
8.3.5 SWOT analysis of Harman International Industries, Incorporated
8.4 Sony Corporation
8.4.1 Company overview
8.4.3 Business performance
8.4.4 Key strategies and developments
8.4.5 SWOT analysis of Panasonic Corporation
8.5 Shure Incorporated
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Key strategies and developments
8.5.4 SWOT analysis of Shure Incorporated
8.6 Koninklijke Philips N.V
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Business performance
8.6.4 Key strategies and developments
8.6.5 SWOT analysis of Koninklijke Philips N.V
8.7 Sonos Inc.
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Key strategies and developments
8.7.4 SWOT analysis of Sonos Inc.
8.8 VIZIO, Inc.
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Business performance
8.8.4 Key strategies and developments
8.8.5 SWOT analysis of VIZIO Inc.
8.9 VOXX International Corporation
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Business performance
8.9.4 Key strategies and developments
8.9.5 SWOT analysis of VOXX International Corporation
8.10 Sennheiser Electronic GMBH & Co. KG
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Business performance
8.10.4 Key strategies and developments
8.10.5 SWOT analysis of Sennheiser Electronic GMBH & Co. KG
Wireless audio devices have emerged as an ideal alternative to traditional wired audio devices, owing to their portability, convenience, cost-effectiveness, efficiency, and flexibility. Increasing penetration of infotainment devices, such as mobile phones, laptops, tablets, automobile infotainment devices, coupled with increasing demand for mobility services drive the market growth. In addition, the adoption of wireless audio devices has increased in the commercial sectors including, tourism, education, and media & entertainment among others.
In 2015, wireless speaker systems segment accounted for the maximum revenue share in the overall wireless audio devices market due to compatibility of wireless speakers with computer and infotainment devices such as mobile phones, tablets, and laptops. The latest features integrated in wireless speakers including high definition sound, Dolby Digital sound, 3D surround sound, and others boost the market growth for wireless speakers. In addition, the sound bar segment is presently the fastest growing segment, and is projected to grow at a CAGR 28.2% during the forecast period due to its compatibility with LED TVs, mobile devices, and emerging growth of consumer electronics market.
The Bluetooth technology segment is projected to maintain its dominance in the overall wireless audio devices market during the forecast period due to features such as low energy consumption, easy connectivity and cost efficiency. In addition, Bluetooth can seamlessly stream high quality music through a temporary personal area network. Furthermore, Airplay technology segment is anticipated to grow at a CAGR of 26.6% during the forecast period due to increasing penetration of Apples devices such as iPhone, iPad, iPod Touch, and others.
In 2015, consumer segment generated the highest revenue in the market, followed by commercial and automotive sectors. This is attributed to the growth in smartphones and consumer electronic market. Automotive sector is projected to grow at the fastest CAGR of 26.5% during the forecast period.
North America accounted for majority of the global market share in 2015, and is expected to maintain its dominance during the forecast period. Advanced wireless technologies, such as Bluetooth, AirPlay, and Wi-Fi coupled with high disposable income of consumers is expected to boost sales in this region. Asia-Pacific is projected to grow at the highest CAGR during the forecast period due to increasing economic growth and rapid industrialization in countries such as India, China, Japan, Singapore, and others.
Key findings of the Wireless Audio Devices Market study
In 2015, wireless speaker systems segment dominated the overall wireless audio devices market in terms of revenue, and is projected to grow at a CAGR of 23.5% during the forecast period.
Airplay technology segment is expected to grow at a remarkable CAGR of 26.6% from 2016 to 2022.
Sound bars segment is projected to grow at the highest CAGR of 28.2% during the forecast period.
Consumer segment is projected to generate the highest revenue in the market during the forecast period.
In 2015, North America generated the highest revenue among all regions in thewireless audio devices market.
Apple, Inc., Bose Corporation, Harman International Industries, Incorporated, Sony Corporation, and Shure Incorporated among others are some of the prominent players in the market. Market players have focused on technological advancement of products and acquisitions for expansion in the market. For instance, in May 2016, Apple, Inc., a leading player in the industry, introduced wireless EarPods in the wireless headphones segment to expand its customer base and increase product offerings in wireless technology.
Harman International Industries, Incorporated
Koninklijke Philips N.V.
VOXX International Corporation
Sennheiser Electronic GMBH & Co. KG