Wireless technology has proved beneficial in the overall growth of the global semiconductor and electronics industry. The technology is largely applied into audio devices and audio streaming devices, in order to attain music streaming. With rapid technological improvements, wireless audio devices are gaining immense popularity. Increasing adoption of innovative information technology solutions and constant innovations are driving the wireless audio device market at impressive pace. As a result of all this, experts are hoping for an impressive future for the industry. Rising demand and constant innovation are anticipated to be the strongest reasons for this impressive growth in terms of trends, revenue and expansion of businesses across different parts of the world.
Categories in Wireless Audio Devices Industry
In order to perform in-depth analysis of the industry, expert researchers segment the wireless audio device market into different sections. These sections are based on the types of products, technologies, applications and their geographic presence. Wireless speakers, microphones, headphones and sound bars are the most common types of products available in the market. These devices work using different wireless technologies like Wi-Fi, SKAA, IR and Bluetooth. Applications of wireless audio devices are majorly centered across home applications, consumer goods and commercial sector. Commercial applications area includes public places, hotels, restaurants, data centers, entertainment centers and hospitals. Geographically, the industry is divided into four basic regions, which include Europe, the Americas, Asia pacific and rest of the world.
Forecasting Reports from 2013 to 2018
According to the market research reports, wireless audio device market is estimated to make impressive growth at an expected CAGR of 24.02%. The industry is expected to maintain this growth rate from 2013 to 2018. During the forecasting period of over four to five years, the market is poised to reach worth $13.75 billion by 2018. Excellent audio quality, unrestrained access and aesthetically appealing appearance are the strongest drivers for the rising demand for wireless audio devices on global level. To serve the rising demand, manufacturers in the industry are coming up with advanced products and innovative operations, which are further driving the demand scale. Apart from excellent penetration in developed regions like North America and Europe, the industry is also attracting emerging markets like Latin America, Asia Pacific and Middle East and Africa.
All these factors are expected to influence the future of wireless audio device market, beyond the forecasting period. These current market trends are expected to be positive for long term investments in the industry, which is attracting new businesses and key players in the industry. Existing businesses on the other hand are looking to expand their businesses across emerging markets to reap maximum advantages.