Wireless Audio Devices Market Size

Wireless Audio Devices Market Growth Projections and Opportunities

Wireless audio devices, which utilize radio frequency (RF) waves to receive audio signals, have emerged as a significant market, replacing traditional audio cables. Comprising an RF receiver and an RF transmitter unit, these devices have gained traction due to the growing adoption of wireless technology in consumer applications and the expanding leisure and hospitality sector globally. The surge in the acceptance of smartphones as entertainment sources, technological advancements in wireless solutions, and increased spending on semiconductor components for wireless devices contribute to the market's growth. However, challenges such as potential health concerns associated with wireless devices and technical complexities pose hurdles for the industry. This report delves into industry analysis, market dynamics, competitive insights, and key market players.
The broader audio device market is experiencing noteworthy growth and is anticipated to reach substantial levels by 2022. Within this market, wireless audio devices are gaining prominence, poised for significant growth in the coming years. In 2015, the wireless audio device market generated $15,413.9 million in revenue, with a projected CAGR of 11.0%, reaching $33,177.0 million by 2022. Key players in the industry, including Sony Corporation, Bose Corporation, Sennheiser Electronic GmbH & Company KG, Harman International Industries Incorporated, and others, are actively pursuing product launches and mergers to expand their market presence.

Wireless headsets hold the largest market share at 42% in 2016, while wireless microphones account for the lowest share at 9%. The demand for portable music systems, such as tablets, smartphones, and music players, fuels the growth of wireless headsets. Technological advancements, specifically the reduction in overall headphone weight, further contribute to the popularity of wireless headsets. Bluetooth technology dominates with a 67% market share in 2016 due to its universal compatibility with most devices. Bluetooth Special Interest Group (SIG) oversees Bluetooth standards, trademarks, and technologies, with members like Apple Inc., Toshiba Corporation, and Ericsson Technology Licensing. Wi-Fi-enabled audio devices are on the rise, driven by the popularity of multi-room audio systems, allowing consumers to enjoy music in multiple rooms simultaneously. Leading companies like Sonos and LG employ Wi-Fi technology in closed platforms. Airplay technology holds a 5% market share but is expected to exhibit the highest growth rate due to increasing application support.

The wireless audio device market is segmented by key technologies, including Airplay, Bluetooth, Wi-Fi, and others (Skaa, Play-Fi, Sonos, RF, and IR). Additionally, the market is categorized by key products, encompassing wireless sound bars, wireless microphones, wireless headsets, and wireless speaker systems.

In conclusion, the wireless audio device market is witnessing substantial growth driven by consumer preferences, technological advancements, and increasing applications. While challenges exist, industry players are actively addressing them through innovation and strategic partnerships, positioning the market for sustained expansion in the foreseeable future.