CHICAGO, Feb. 10, 2020 /PRNewswire/ -- According to the new market research report "Wireless Audio Device Market by Product (Speaker Systems, Soundbars, Headsets, Headphones, Microphones), Technology (Bluetooth, Wi-Fi, AirPlay), Application (Home Audio, Consumer, Commercial), Functionality, Region - Global Forecast to 2025", published by MarketsandMarkets™, the Wireless Audio Device Market is projected to grow from USD 57.3 billion in 2020 to USD 134.2 billion by 2025; it is expected to grow at a CAGR of 18.6% from 2020 to 2025. Factors such as the surge in the global demand for infotainment devices, rise in use of wireless audio devices in the commercial sector, and increased R&D expenditure by OEMs for the development of new and advanced wireless audio devices are fueling the growth of the wireless audio device market.
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The consumer application segment of the wireless audio device market in APAC is projected to grow at the highest CAGR during the forecast period."
Wireless audio devices such as headphones and headsets are used in consumer electronics such as smartphones, computers, and gaming consoles. The rising adoption of technologically-advanced smartphones has led to an increased demand for wireless headphones and headsets in APAC. These smartphones can also be used to play music wirelessly through speakers and soundbars.
The wireless audio device market in India is projected to grow at the highest CAGR during the forecast period.
The consumer electronics sector in India has witnessed substantial growth over the last few years. This sector plays a significant role in the economy of the country and provides employment to a huge part of its population. Rising individual income levels, increasing foreign direct investments, and growing government impetus with Make in India initiative have led to the growth of the consumer electronics sector in India, thereby leading to the growth of the wireless audio device market in the country.
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Key players operating in the wireless audio device market are Apple Inc. (US), HARMAN International Industries Inc. (US), Bose Corporation (US), Sonos Inc. (US), Sony Corporation (Japan), DEI Holdings, Inc. (US), Sennheiser Electronic GmbH & Co. KG (Germany), VIZIO, Inc. (US), VOXX International Corporation (US), Plantronics Inc. (US), Ossic Corporation (US), Phazon (Canada), Trüsound Audio (US), Jam (US), Earin (Sweden), Human (US), Bragi (Germany), Jaybird (US), Devialet (France), and Dali A/S (Denmark).
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