Wireless Audio Market, 2022 by Product (Speaker, Soundbar, Headset, Headphone, Microphone), Technology (Bluetooth, Wi-Fi, Airplay, RF), Application (Home Audio, Consumer, Commercial, Automotive) – Research and Markets

DUBLIN–()–The “Wireless
Audio Market by Product (Speaker, Soundbar, Headset, Headphone,
Microphone), Technology (Bluetooth, Wi-Fi, Airplay, RF), Application
(Home Audio, Consumer, Commercial, Automotive), and Region – Global
Forecast to 2023”
report has been added to Research and
Markets’
offering.

The wireless audio market is expected to grow from USD 16.13 Billion in
2016 to USD 31.80 Billion by 2023, at a CAGR of 10.06% between 2017 and
2023.

The growth of this market is propelled by the increasing demand for
smartphones as a source of entertainment, consumer preferences for
portable devices, and advancements in wireless technologies.

The market for Bluetooth +Wi-Fi technology is expected to grow at a high
rate between 2017 and 2023. Combo wireless modules are mainly used in
smartphones, smart meters, medical devices, and home audio devices. The
increasing adoption of combo wireless modules for various applications
is contributing to the high growth of the market.

Home audio applications are expected to hold a major market size between
2017 and 2023. The growth of this market can be attributed to the
continuous technological innovations in home audio devices and
increasing consumer demand for high-performance home theaters, owing to
rising disposable income. In addition, developments in Wi-Fi and
Bluetooth speakers and dedicated speaker docks are expected to increase
consumer spending on audio equipment for enhanced audio quality.

Suppliers and manufacturers of such equipment are increasingly focusing
on expanding in the market by making these systems user friendly and
visually less intrusive. In addition, there is an increasing demand for
portable audio equipment, which has the ability to stream high-quality
audio content from the Internet. Therefore, the advancements in digital
technology, with changing media options from conventional to modern
system, are contributing toward the growth of the market for home audio
applications.

Market Dynamics

Drivers

  • Growing Demand for Smartphones As a Source of Entertainment
  • Consumer Preferences for Portable Devices
  • Advancements in Wireless Technologies

Restraints

  • Compliance Issues in Operating Frequency
  • Negative Health Effects On Children And Other User Groups

Opportunities

  • Significant Growth in the Market for Soundbars
  • Increasing Use of Wireless Audio Devices in the Hospitality And
    Leisure Sector
  • Growth in On-Demand Music Streaming Services

Challenges

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