The Wireless Audio Device Market is projected to reach from USD 58.5 billion in 2023 to USD 159.3 billion by 2028; it is expected to grow at a CAGR of 22.2% from 2023 to 2028. The growth of the wireless audio device market is highly attributed to the changing preferences of consumers for wireless connectivity because of convenience, mobility, technological advancement, improved battery life, smartphone trends and growing ecosystem.
Apple Inc (US), HARMAN International (South Korea), Bose Corporation (US), Sonos, Inc. (US), Sony Corporation (Japan), Masimo (US), Sennheiser electronic GmbH & Co. KG (Germany), VOXX International Corp.(US), VIZIO, Inc. (US), Marshall Group (Sweden), GN Store Nord A/S (Denmark), Plantronics, Inc.(US), Xiaomi (China), Bang & Olufsen (Denmark), Yamaha Corporation (Japan), LG Electronics (South Korea) Imagine Marketing Limited (India), Shure (US) are some of the key players in the Wireless Audio Device Market. Product launches and developments have been the most dominating strategy adopted by the key players from 2020 to 2023 to help them broaden their customer base.
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Apple Inc. leads the global industry in the development of electronic devices, spanning mobile communication, media gadgets, personal computing, and digital music players. Their renowned product lineup includes the iPhone, iPad, Mac, iPod, Apple Watch, and Apple TV. Key software offerings encompass iOS, macOS, watchOS, tvOS, iCloud, and Apple Pay. Apple also provides services such as advertising, AppleCare, cloud services, digital content, and payment services. The primary customers of the company are in the consumer, small and mid-sized business, education, enterprise, and government market. Apple has a worldwide presence in countries such as the US, the UK, Canada, Japan, China, Italy, Australia, Germany, France, Switzerland, the UAE, Taiwan, South Korea, etc.
HARMAN International, commonly known as HARMAN, is a subsidiary of Samsung Electronics is a global company that specializes in the design and development of connected products and solutions for a wide range of customers, including automobile manufacturers, consumers, and businesses. Their offerings encompass connected car systems, audiovisual products, solutions for enterprise automation, and a variety of connected services. The products are supported by its brands, including AKG Acoustics (Australia), Harman Kardon (US), Infinity Systems (US), JBL Incorporated (US), Lexicon (US), and Mark Levinson Audio System (US). Harman Kardon specializes in both home and car audio equipment, while Infinity Systems specializes in loudspeakers. AKG Acoustics offers a range of products such as microphones, headphones, wireless audio systems, and related accessories for both professional and consumer markets. JBL, on the other hand, consists of two distinct divisions: J3L Consumer, which focuses on manufacturing audio equipment for the consumer home market, and J8L Professional, which produces equipment for studio, installed sound, tour sound, portable sound (production and DJ), and cinema markets.
The company specializes in the engineering, design, development, marketing, and retailing of sound systems. Bose's core mission revolves around creating innovative technologies that bring tangible benefits to customers. Over the years, Bose has introduced groundbreaking innovations across various industries, revolutionizing the audio landscape. Their product range spans home audio, car audio, portable audio solutions, and public space audio systems, leaving an indelible mark on how people experience music.
Sonos Inc. is an American company that specializes in the development and manufacturing of audio products, with a notable focus on multi-room audio solutions. Sonos stands as a prominent global brand renowned for delivering exceptional sound experiences. Their mission is to enhance people's listening experiences by granting them access to their favorite content and offering flexible control options. In 2005, Sonos introduced the world's first multi-room wireless sound system, solidifying their reputation as pioneers in wireless home audio technology. Presently, their product lineup encompasses a wide range of wireless and home theater speakers, components, and accessories, catering to the ever-evolving needs of consumers for home audio solutions.
Furthermore, Sonos consistently introduces new features across its platform, enhancing functionality, expanding services, refining sound quality, and enriching the overall user experience. Sonos offers wireless audio systems such as speakers, home theaters, and audio streaming components. The company holds offices in Boston and Seattle, USA, as well as international offices in the Netherlands, the UK, Australia, Germany, and China.
Sony Corporation is actively engaged in the development, design, manufacturing, and sale of a diverse range of electronic equipment, instruments, and devices. These products cater to a wide spectrum of markets, including consumer, professional, and industrial sectors. Sony's extensive product portfolio encompasses network services, gaming hardware and software, televisions, audio and video recording and playback devices, as well as still and video cameras and mobile phones. Additionally, the company is involved in image sensor manufacturing. They manage and license the lyrics and music of songs, and they produce and distribute animation titles, including game applications based on these animated works. Sony's reach extends to the production, acquisition, and distribution of motion pictures and television programming. They also operate television and digital networks.
Wireless Audio Device Market by Product (Headphones, True Wireless Hearables/Earbuds, Speaker) Technology (Bluetooth, Wi-Fi, Airplay), Application (Home Audio, Consumer, Professional, Automotive), Functionality and Region - Global Forecast to 2028
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