ICT & Electronics Wireless Audio Device Market | Page 2

The global wireless audio devices market is segmented into product type such as
wireless headsets & microphones, wireless speaker systems, sound bars, others
(A/V receivers, power amplifiers etc.). Among these segments, wireless headsets
& microphones segment is expected to grow at remarkable pace during the
forecast period. Increasing penetration of smartphones is a major factor which is
fueling the growth of this segment.
Global wireless audio devices market is expected to register a 26.1% CAGR over
the forecast period. The global wireless audio device market is projected to reach
at a valuation of about USD 24.2 Billion by the end of 2024. The market is
expected to witness significant growth during the forecast period owing to a
number of factors such as rising disposable income of the consumers and
increasing use of in-vehicle infotainment devices.
The consumer segment by application is likely to grow at a remarkable pace
during the forecast period. Spiked penetration of smart devices such as smart
phones, tablets, smart TVs and others is anticipated to be the dynamic factor
behind the growth of this segment in near future.
Increasing utilization of wireless audio speakers in commercial places
Rising applications of wireless audio speakers in commercial sectors such as
media and entertainment, education and corporate sectors is envisioned to drive
the growth of market at significant pace during the forecast period. Further,
utilization of wireless audio speakers in events such as sport events and others is
also fuelling the growth of market.
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Rapid technological advancements
Wireless audio devices are offering features such as easy and quick audio
transmission, wireless operation, and ease of installation. Further, growing
technological advancements with wireless audio devices to enhance experience of
consumers is likely to foster the growth of global wireless audio device market
during the forecast period.
However, high cost associated wireless audio devices as compared to other
audio devices and presence of other alternatives such as wired audio speakers are
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