Wireless Audio Device Market To Observe An Uptick In Growth With 16.60% CAGR By 2032

Market Research Future Published a Half-Cooked Research Report on Global Wireless Audio Device Market Research Report.

Wireless Audio Device Market Overview 

The wireless audio device market will witness a healthy growth from 2023 to 2032, a research report suggests. Growing at a CAGR of 16.60%, the market is projected to reach USD 146.6 billion by 2032. Increasing use of wireless audio devices in the commercial sector is expected to support the market growth along with increasing need for mobility services. As predicted by analysts, low research and development budgets will negatively affect the market’s performance from 2023 to 2032. During the forecast period, the market will be supported by the demand for mobility services amongst consumers and efficient connectivity and ease of access of information. The lack of effective communication on the other hand will challenge audio equipment sector based organizations functioning in the global wireless audio device market. Analysts have split the market into product, technology, and end-users segments based on products and services. 

Audio equipment based companies have been profiled. Supply chain related problems are set to affect the global market during the forecast period 2023 to 2032. The report also provides the market’s performance forecasts till 2030. Analysts have studied the strategy of audio equipment segment based organizations to help new entrants and established businesses. The audio equipment sector itself is supported by advanced features of wireless audio devices as well as ease of manageability. During the forecast period 2023 to 2032, the wireless audio device market is set to witness a health growth across product, technology, and end-users segments as well as regional markets. 

Market Segmentation 

The audio equipment sector has seen growth across product, technology, and end-users segments owing to remote access for audio communication and the growing demand for mobile services. To study the market, analysts have further segmented product, technology, and end-users into product on the basis of Bluetooth, Airplay, and Wi-Fi. The market is further segmented into technology sub segment which is split into electronics, automotive, and institute. Additionally, the wireless audio device market on the basis of end-users is segmented into soundbar, wireless microphone, and wireless headset. 

The segmental analysis presented in the report provides audio equipment field based organizations insights into key growth factors such as ease of installation as well as challenges such as the shifting preference for cheaper alternatives the market will face from 2023 to 2032. The increasing preference of consumers and the introduction of new products are some of the key factors having an influence on audio equipment industry based companies, suggest analysts as per the wireless audio device market report. But the report also identifies concerns regarding high cost and the unorganized retail sector as major threats companies in audio equipment will face till 2032. 

Regional Overview

Audio equipment market based companies in the wireless audio device market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. A rise in the disposable income will be a key growth driver for regional markets. However, supply and demand gap will turn out to be a threat. For the forecast period 2023 to 2032 each of these regional markets are studied in the report. Starting from North America, the regional market and audio equipment vertical based companies are spread across the United States, Canada, and Mexico. Unstable electronic component prices will turn out to be a major challenge from 2023 to 2032. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by growing investments across different sectors as well as the increasing spending power, suggests the report. Similarly, the audio equipment sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the wireless audio device market covers the Middle East and Africa. Forecast based on the reports findings are presented for the forecast period till 2032. 

Competitive Landscape 

The global wireless audio device market research report brings a comprehensive study of product, technology, and end-users market segments, regional analysis, and audio equipment vertical based company details of key players. As the forecast period 2023 to 2032 will bring new opportunities for the market owing to the rise in distribution channels and the surging usage across different industries, the market is set to grow at a compound annual growth rate of 16.60% and is predicted to reach a value of US$146.6 billion by 2032. With SWOT analysis of audio equipment sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as The weak supply chain and the easy availability of alternative products, companies in the audio equipment sector can change the way business is done. 

Industry News

Logitech International has revealed that it has decided to purchase Jaybird LLC for nearly $50 million in cash, plus a potential pay of up to $45 million if growth goals are met within the next two years. Jaybird is the market leader in wireless audio wearables, which it pioneered in 2006. With an emphasis on introducing music to active lives, Jaybird has developed innovative wireless audio for sports. The award-winning BlueBuds X as well as, most notably, X2 wireless buds have a devoted fan base among sports enthusiasts.