The global wireless audio devices market is expected to witness high growth potential over the next six years owing to a surge in demand for infotainment systems. Wireless technology has played a pivotal role in the growth of semiconductors and electronic devices. The demand for sound-bars, microphones, speakers, and headphones has considerably increased over the last five years which has significantly bolstered the market. Increased sales of audio systems have helped the audio industry to adapt according to consumers’ changing trends. Issues in delivering high-quality audio signals are expected to pose a challenge to the market.
The major drivers of the wireless audio devices market are high expenditure on semiconductor for wireless devices, increasing requirement for mobility, advancement in technologies, and introduction of innovative devices. A wireless audio device offers more flexibility and connectivity as compared to its wired counterpart. Increasing consumer applications equipped with wireless devices has opened up new avenues in the industry. Leading players have emphasized on harnessing the growth potential in the lucrative Middle Eastern market. Increasing opportunities in the hospitality and leisure sector coupled with increased sound-bar installments are expected to favorably impact market growth.
A wireless audio device has to comply according to emission regulations set by various regulatory bodies; compliance with such regulations may pose a challenge to market growth. Negative health effects on children are expected to restrain market growth over the forecast period.
The wireless audio devices market can be segmented on the basis of application, product, and technology. The product segment can be categorized into wireless speaker system, microphone, sound bar, power amplifier, A/V controller, radio tuner, and headphone. On the basis of application, the market can be segregated into automotive, consumer & home application, and special & commercial application. Several standards incorporating wireless devices include Wi-Fi, SKAA, and Bluetooth.
Key players in the wireless audio devices market include Apple Inc., Harman International Inc., Shure, Bose Corporation, Vizio Inc., Sennheiser Electronic GmBH, Koninklijke Philips N.V., DEI Holdings Inc., Sony Corporation, Philips Electronics Corporation, Logitech International SA, Avnera Corporation, Sonos Inc., and VOXX International Corporation. Leading players have innovated to integrated several features in a single device. For instance, AirPlay, Apple’s protocol suite enables wireless streaming of photos, videos, and audio along with related metadata between devices.
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The global electronics devices market (including consumer electronics and industrial electronics devices) is expected to be impacted significantly by COVID-19 as China is one of the major suppliers for the raw materials (used to manufacture devices) as well as the finished products. The industry is on the brink of facing a reduction in production, disruption in supply, and price fluctuations. While this can vastly encourage local manufacturers to step up and address the growing demand, the scarcity of raw material can still pose a challenge to this industry. The sales of prominent electronic companies is expected to be affected in the near future. The report will account for Covid19 as a key market contributor.
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