Wireless Audio Device Market to Witness a Rise of US$ 25 Bn by the end of 2025

Posted by ashutosh sable on December 13th, 2017

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 2017-2025.

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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.

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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.

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.

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 long-term business contracts and provide superior aftersales service to distinguish themselves from rivals in the wireless audio devices market.