WIRELESS AUDIO DEVICES MARKET ANALYSIS

Market Challenges And Opportunities

Wireless Audio Market- Drivers:

Growing demand of wireless audio devices in commercial sector

Rising implementation of wireless audio devices in commercial sector such as events, shows, call centers, and others are the key driving factors of the global wireless audio device market. For instance, according to Coherent Market Insights analysis, several countries are showing significant growth rate in number of events organized, the average growth rate was around 40%. In addition, the marketing budgets of organizations in several European countries such as Germany, the U.K., are rising at a CAGR between 4% and 13%, which is expected to boost the adoption of wireless audio devices.

Growing demand for Bluetooth headsets

In addition, rising adoption of Bluetooth technology for headsets is expected to drive the growth of Bluetooth technology market over the forecast period. For instance, according to Coherent Market Insights analysis, the adoption of wireless Bluetooth headsets is expected to grow with a CAGR of around 12% over the forecast period (2023 – 2030).

Wireless Audio Market- Opportunities:

Increasing demand for wireless headphones

With rise of smartphones and portable music players, more and more people are using headphones to listen to music on the go. Wireless headphones provide convenience and freedom of movement, and are becoming increasingly popular. For instance in March 2023 UK-based audio brand Nothing has launched its newest pair of wireless earbuds. Following on from its inaugural Ear(1)

Gaming industry surges for best quality audio

Gaming is another area where wireless audio is becoming increasingly popular. Gamers require high-quality sound for an immersive gaming experience. For instance Sept 2022 JBL launches Quantum 350 Wireless gaming headset with 22 hours

Wireless Audio Market- Restraints:

Impact on children

Wireless audio devices need to comply with various emission regulations set by the various regulatory bodies across the globe, furthermore, several negative impacts on children such as hearing loss or headache, owing to usage of wireless audio device for a longer period of time, is expected to hamper the growth of wireless audio devices over the forecast period

Latency in audio streaming and range of connectivity

Wireless audio devices transmits audio form one device to another by electromagnetic bandwidth which is limited and travels upto distance of 10 meters and it causes delay in transmitting audio to the speakers