Mid-range Portable Speakers to Drive the Global Wireless Audio Devices
Market
Simplicity, portability and convenience are the three key factors that drive consumers
to switch to a wireless lifestyle by purchasing devices sold in the wireless audio
devices market. In addition to this, improving Internet infrastructure has allowed
streaming services to become popular across both developed and emerging markets.
Approximately a fifth of Twitter users have received portable speakers as a gift and
half of those surveyed on Facebook said that they preferred to buy cost-effective
portable speakers. All these factors portray a bright future for the wireless audio
devices market that has been studied by Persistence Market Research in a new report
titled ‘Wireless Audio Devices Market: Global Industry Analysis 2012 – 2016 and
Forecast 2017 – 2025’. The wireless audio devices market is on track to be worth
more than US$ 25 Bn by the end of 2025 and grow at a CAGR of 8.5% from 20172025.
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North America Most Attractive Region in the Wireless Audio Devices Market
It is hardly surprising that North America accounted for a third of the wireless audio
devices market in 2016 and this is anticipated to drop only marginally by the end of
the forecast period. The region has several factors in its favor such as high disposable
income, widespread Internet connectivity, and a population that is quicker to adopt
the latest gadgets and gizmos. Audio and video streaming services have become
extremely popular here and it is only a matter of time before these services outpace
traditional content delivery formats. The North America wireless audio devices
market is likely to exceed US$ 7 Bn by end 2025 and represents an incremental dollar
opportunity of more than US$ 3 Bn during the eight-year study period.
Bluetooth Technology Dominates the Wireless Audio Devices Market
The proliferation of Bluetooth technology in smartphones, tablets, and laptops has
come to the notice of key players in the wireless audio devices market. The Bluetooth
segment dominates the wireless audio devices market with a market share estimated
to touch 70% by 2025 end and it is unlikely to cede this commanding position to the
Wi-Fi segment anytime soon. The Bluetooth segment is expected to record the
highest segmental CAGR of 8.8% for the period 2017-2025.
Focus on Organized Retail and E-commerce in the Wireless Audio Devices
Market
While organized retail is currently the largest distribution channel in the wireless
audio devices market, e-commerce should become much more important in the days
ahead. A Y-o-Y growth rate that is always in excess of 8% throughout the duration of
the forecast period makes e-commerce a particularly enticing distribution channel in
the wireless audio devices market and it is projected to push past US$ 8.3 Bn by end
2025.
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Portable Speakers Popular in the Wireless Audio Devices Market
Manufacturers are experimenting with various colors, sizes, features, and
technologies in the wireless audio devices market and they have invested heavily in
the portable speakers product type segment because of sustained consumer demand
for this product. A high Y-o-Y growth rate is predicted to make this segment account
for a market share of approximately 46% of the wireless audio devices market at the
end of the study period.
Residential Users More Lucrative than Commercial Users
The wireless audio devices market is more of a consumer centric market and
residential users represent approximately 4/5th market share. The residential end use
segment is poised to be almost five times larger than the commercial segment by end
2025 and key stakeholders would do well to devise products that are well-suited to
residential users.
Global Wireless Audio Devices Market: Competition Dashboard
Persistence Market Research has profiled some of the most prominent companies
active in the wireless audio devices market. These include Beats Electronics, Bose
Corporation, Harman International Industries, Yamaha Corporation, Sony
Corporation, JVCKENWOOD Corporation, Logitech International S.A, LG
Electronics Inc., Samsung Electronics, Panasonic Corporation, Sound United, Pioneer
Corporation, Plantronics Inc., Koninklijke Philips N.V., Jawbone, Braven, Intex
Technologies, and Altec Lansing.
Key Insights into the Wireless Audio Devices Market
There has been a rapid uptake of wireless speakers as consumers seek out
convenience and portability over all else. Portable speakers within the price range of
US$ 200-500 are estimated to witness the highest demand as new companies are
entering the mid-range segment. Key players could also try to strengthen their longterm business contracts and provide superior aftersales service to distinguish
themselves from rivals in the wireless audio devices market.
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