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 some of the factors that are likely to inhibit the growth of wireless audio devices market in the near future.
The report titled “Wireless Audio Device Market: Global Demand Analysis & Opportunity Outlook 2024”delivers detailed overview of the global wireless audio devices market in terms of market segmentation by product type, by technology, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global wireless audio devices market which includes company profiling of Koninklijke Philips N.V. , Sony Corporation, Apple Inc., Samsung Electronics, Beats Electronics, Bose Corp., Jawbone, LG Electronics, Harman Kardon and Jabra. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global wireless audio devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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