Press release
Wireless Audio Devices Market: Latest Trends and Forecast Analysis up to 2024
Attracted by the prevailing prospects, technology firms such as Google are also aggressively investing in wireless audio devices. The competition is set to build up as Google pits its Google Cast against the likes of Apple Airplay, says TMR.
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The demand for wireless audio devices is expected to rise in response to the increasing adoption of wireless technology enabled products, projects TMR. The compact design of these products and convenience they offer will further boost their proliferation worldwide. Audio technologies such as Wi-Fi, Bluetooth, Airplay, and WiSA are now used for the transmission of audio files between these devices.
Wireless audio devices with built-in Wi-Fi and Bluetooth play the music sourced from a PC or other portable devices. “Being independent of speakers’ location, these devices score high on convenience,” said a TMR analyst. Due to the impact of these factors, the sales of wireless audio devices are expected to increase in the forthcoming years.
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The TMR analyst further states that “Among various wireless audio technologies available in the market, Bluetooth accounted for a major share in the home audio shipments in 2015.” “The Wi-Fi technology on the other hand is integrated into room speakers such as DNLA and Airplay. In the next few years the technology will also make inroads into mobile speakers and sound bars,” he added.
Despite witnessing favorable opportunities, the incompatibility of the Bluetooth technology with high resolution uncompressed audio files limits the deployment of wireless audio devices. Also the vulnerability of the sound quality in Wi-Fi technology to the ambient noise also negatively impacts the adoption of wireless audio devices, particularly in the household sector.
Nevertheless, the leisure and hospitality industries exhibit ample opportunities for the global wireless audio devices market. The market is also expected to gain impetus from the launch of the latest technologies.
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By product, Bluetooth speakers accounted for the largest share of the market in 2014. Regionally, the U.S. has been exhibiting the most attractive prospects for enterprises operating in the global wireless audio devices market. Considering robust demand reported by developing nations such as India and China, APAC is expected to provide vendors attractive opportunities to capitalize on during the forecast period.
TMR has pegged the value of the global wireless audio devices market at US$9.04bn in 2014. Exhibiting a CAGR of 1.5%, the market is projected to reach US$10.12 bn by the end of 2024.
Information included in the report is based on a report, titled “Wireless Audio Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2024” published by Transparency Market Research
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.
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