Market Highlights
The wireless audio device market will witness a healthy growth from 2016
to 2027, a research report suggests. Growing at a CAGR of 17%, the market is
projected to reach USD 70 billion by 2027. 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 2016 to 2027. 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 2016 to
2027. The report also provides the market’s performance forecasts till 2027.
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 2016 to
2027, the wireless audio device market is set to witness a health growth across
product, technology, and end-users segments as well as regional markets.
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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 2016 to 2027. 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
2027.
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 2016 to 2027 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 17% and is predicted to reach a value of US$70
billion by 2027. 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.
Regional Analysis:
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 2016 to 2027 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 2016 to 2027. 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 2027.
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.
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