The wireless audio device market size is projected to grow from USD 69.6 billion in 2021 and to reach USD 153.3 billion by 2026; it is expected to grow at a CAGR of 17.1% during the forecast period. The key factors contributing to the growth of the market include a surge in global demand for infotainment devices and increased R&D expenditure by OEMs for the development of new and advanced wireless audio devices are some of the prominent factors for the growth of the wireless audio device market globally.
Apple (US), Bose Corporation (US), Sony Corporation (Japan), Harman International Industries (South Korea) and Sonos (US) are some of the major companies across the globe in the wireless audio device market. The companies in the wireless audio device market have adopted various strategies in such as partnerships, collaborations and acquisitions to grow in the wireless audio device market. The organic and inorganic strategies has helped the players in the market to expand themselves globally with innovative offering in the wireless audio device market.
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Apple (US) manufactures, designs, and markets media and mobile communication devices. The company’s product offerings include iPhone, Mac, iPad, wearables, and home accessories. 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. AirPlay is a proprietary protocol stack/suite developed by the company. It allows wireless streaming of audio, video, and photos, along with the related metadata among different devices. AirPlay was launched in 2004 as AirTunes. Its name was changed to AirPlay in 2010. In May 2014, Apple acquired Beats Electronics, a US-based company that manufactures wireless headphones. With this acquisition, Beats Electronics LLC (also known as Beats by Dr. Dre) became a subsidiary of Apple Inc. The subsidiary of the company primarily focuses on manufacturing headphones and speakers. Beats offers a range of wireless audio products, including the Beats Studio 3 Wireless, which is equipped with Bluetooth technology and has 40-hours of battery life. It has 22-hours of battery life for the adaptive noise cancellation.
HARMAN International Industries (South Korea), commonly known as HARMAN, is a subsidiary of Samsung Electronics. It designs, manufactures, and markets audio and infotainment solutions for the automotive, consumer electronics, and professional markets 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). Infinity Systems, AKG Acoustics, JBL (James Bullough Lansing), and Harman Kardon are some of the brands owned by HARMAN International Industries that deal with audio products. Harman Kardon offers home and car audio equipment, while Infinity Systems provides loudspeakers. AKG (Akustische und Kino-Geräte Gesellschaft m.b.H.) Acoustics offers microphones, headphones, wireless audio systems, and related accessories for professional and consumer markets. JBL comprises two independent divisions—JBL Consumer, which manufactures audio equipment for the consumer home market and JBL Professional, which produces professional equipment for studios, as well as for the installed sound, tour sound, portable sound (production and DJ), and cinema markets.
Bose Corporation (US) is an American manufacturing company that predominantly sells audio equipment. The company was established by Amar Bose in 1964 and is based in Framingham, Massachusetts. Bose Corporation engineers, designs, develops, researches, markets, and retails sound systems. The company is driven by one fundamental goal: to develop new technologies with real customer benefits. Bose innovations have spanned decades and industries, creating and transforming categories in audio and beyond. Bose products for the home, in the car, on the go, and in public spaces have become iconic, changing the way people listen to music. Its recently launched noise-cancelling headphones are the first-of-their-kind audio augmented reality platforms, which make new audio experiences possible for users. These headphones have 4-microphone systems, which pick up the voice and isolate it while cancelling the noise. The major competitors of the company are Klipsch Group. (US), Pioneer Corporation (US), Sennheiser Electronic (Germany), VOXX International (US), HARMAN International Industries (US), and Sony Corporation (Japan).
Sonos (US) is an American developer and manufacturer of audio products; the company is best known for its multi-room audio products. It was founded in 2002 and is headquartered in Santa Barbara, California. Sonos is one of the worlds leading sound experience brands. As the inventor of multi-room wireless audio products, Sonos innovation helps the world listen better by giving people access to the content they love and allowing them to control it however they choose. The company debuted the world’s first multi-room wireless sound system in 2005 and has since been a leading innovator in wireless home audio. Today, its products include wireless and home theatre speakers, components, and accessories to address consumers’ evolving home audio needs. In addition to new product launches, the company frequently introduces new features across the platform, providing its customers with enhanced functionality, services, improved sound, and an enriched user experience. Sonos offers wireless audio systems such as speakers, home theaters, and audio streaming components. The company has its offices in Boston (US) and Seattle (US), as well as in the Netherlands, the UK, Australia, Germany, and China. Sonos has grown its market all over the world, in over 60 countries. With a constant focus on R&D activities for wireless audio devices, Sonos is improving the music experience of its customers by offering them different products.
Sony Corporation (Japan) is involved in the development, design, production, manufacture, and sale of various kinds of electronic equipment, instruments, and devices for consumer, professional, and industrial markets such as network services, game hardware and software, televisions, audio and video recorders and players, still and video cameras, mobile phones, and image sensors. The company is also engaged in the development, production, manufacture, and distribution of recorded music and the management and licensing of the words and music of songs as well as the production and distribution of animation titles, including game applications based on animation titles. Sony is involved in the production, acquisition, and distribution of motion pictures and television programming and the operation of television and digital networks. The company also offers various financial services, including life and non-life insurance operations through its Japanese insurance subsidiaries and banking operations through a Japanese internet-based banking subsidiary. The major competitors of the company in the wireless audio device market are Sennheiser (Germany), Bose Corporation (US), Yamaha Corporation (Japan), Philips (Netherlands), Panasonic Corporation (Japan), and HARMAN International (US).
Wireless Audio Device Market with COVID-19 Impact Analysis Product, Technology (Bluetooth, Wi-Fi, Bluetooth+Wi-Fi, Airplay), Application (Home Audio, Consumer, Commercial, Automotive), Functionality and Region - Global Forecast to 2026
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