The adoption of wireless audio devices has increased in the commercial sectors including, tourism, education, and media & entertainment among others. Wireless audio devices have emerged as an ideal alternative to traditional wired audio devices, owing to their portability, convenience, cost-effectiveness, efficiency, and flexibility. Increasing penetration of infotainment devices, such as mobile phones, laptops, tablets, automobile infotainment devices, coupled with increasing demand for mobility services drive the market growth.
Key market players such as – Apple, Inc., Bose Corporation, Harman International Industries, Incorporated, Sony Corporation, and Shure Incorporated
The global wireless audio devices market is expected to garner $38,807.5 million by 2022, registering a CAGR of 24.4% during the period 2016-2022.
North America accounted for majority of the global market share in 2015, and is expected to maintain its dominance during the forecast period. Advanced wireless technologies, such as Bluetooth, AirPlay, and Wi-Fi coupled with high disposable income of consumers is expected to boost sales in this region. Asia-Pacific is projected to grow at the highest CAGR during the forecast period due to increasing economic growth and rapid industrialization in countries such as India, China, Japan, Singapore, and others.
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The Bluetooth technology segment is projected to maintain its dominance in the overall wireless audio devices market during the forecast period due to features such as low energy consumption, easy connectivity and cost efficiency. In addition, Bluetooth can seamlessly stream high quality music through a temporary personal area network. Furthermore, Airplay technology segment is anticipated to grow at a CAGR of 26.6% during the forecast period due to increasing penetration of Apples devices such as iPhone, iPad, iPod Touch, and others.
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In 2015, consumer segment generated the highest revenue in the market, followed by commercial and automotive sectors. This is attributed to the growth in smartphones and consumer electronic market. Automotive sector is projected to grow at the fastest CAGR of 26.5% during the forecast period.
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