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A surge in the global demand for infotainment devices and increased R&D expenditure is likely to push the wireless industry to flourish from USD 69.6 billion to USD 153.3 billion by 2026.
FREMONT, CA: The wireless audio device market is estimated to make an increase at a CAGR of 17.1 percent from USD 69.6 billion in 2021 to USD 153. 3 billion by 2026, from the sum of USD 69.6 billion in 2021. Some of the significant causes for the growth of the wireless audio device market globally includes a surge in global demand for infotainment devices and increased R&D spending by OEMs for the development of new and sophisticated wireless audio devices. Due to the strong demand for real wireless listening devices among consumers, the true wireless earbuds category is predicted to increase at an exponential rate throughout the forecast period. The tech giant Apple contributes to the significant market share in the true wireless hearables category and is a major player in the industry. Samsung, Bose Corporation, Sony Corporation, GN Group are included in the list of other companies providing true wireless hearables. A gradual increase in the demand for earbuds is mainly due to the shift from the use of wired audio devices to wireless audio devices, besides, smart phones play a role in the growth of wireless hearables.
During the forecast period, the Bluetooth sector of the wireless audio device market is likely to grow at an increasing rate. Bluetooth technology is utilised to stream audio in wireless audio devices used in consumer electronics. Initiatives by the manufacturers to boost the productivity of wireless audio devices equipped with Bluetooth Technology is also a major contribution to the segment’s rise. The most populated region APAC showcases a considerably huge demand for consumer electronics, which in turn drives the wireless industry in the market. The research also includes a detailed analysis of the wireless audio device industry's major drivers, constraints, opportunities, and challenges. In addition to the quantitative features of these marketplaces, the research also addresses qualitative aspects.