Global Wireless Audio Devices Market to exceed US$38.5 bn by 2022

Date: 2015-12-03

The market for wireless audio devices, globally, is forecast to reach US$38.52 bn in 2022. Key factor driving the growth of global wireless audio devices market include increasing demand of smartphones as a source of entertainment. Furthermore, rising demand for portable devices is another important factor supporting the adoption of wireless audio devices, globally.

The global wireless audio devices market was valued at US$6.92 bn in 2014 and is forecast to grow at a CAGR of 24.2% from 2015 to 2022. The persistent shift in application of portable devices such as smartphones, tablets and multimedia devices is one of the key factors stimulating the demand for wireless audio devices, globally.

Based on geographic regions, the wireless audio devices market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In terms of regional adoption, Europe, Asia Pacific and North America were the key contributors to the global wireless audio devices market in 2014, with North America leading the market with around 29% share. The demand of wireless audio devices is poised to grow considerably in Middle East & Africa and Latin America during the forecast period. Presently, Brazil holds the maximum share in the Latin America wireless audio devices market.

The wireless audio devices market comprises prominent manufacturers, all attracted by the potential opportunities in the market. These manufacturers are focusing on technological innovations in wireless audio devices such as development and integration of noise cancellation technology in wireless headphones. Major industry participants include Bose Corporation, Harman International, Sennheiser Electronic GmbH, Sony Corporation, Apple, Inc. and Koninkiljke Philips N.V., among others. The report studies global wireless audio devices market and provides estimates in terms of revenue (US$ Bn) from 2013 to 2022. Market estimates on the basis of product type and geography have also been provided for each region. The market has been segmented as follows:

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