Market for wireless audio devices advance due to acceptance of streaming services

Technology - Mohit Shah - Sep 27,2017

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market for wireless audio devices advance due to acceptance of streaming services

Improving internet connectivity along with rising disposable income and increasing acceptance of streaming services is likely to boost the market for wireless audio devices market.

Audio device manufacturers have started focusing their attention on various product innovation to offer better and improved products. Furthermore, the widespread adoption of mobile devices such as tablets and smartphones has encouraged the demand for improved sound quality supplied through portable Bluetooth speakers. 

As per active report evaluations, a wide range of customers in developed regions such as Western Europe and North America have established a greater likelihood of purchasing premium priced products and this indeed includes wireless audio devices. Further, the prime driving factors for the market of wireless audio devices is fixed at proliferation of internet, surging disposable income of consumers and growing acceptance of streaming services by the audience.

Considering the technological factor, the global market for wireless audio devices is concerned with Bluetooth, Wi-Fi, NFC, RFID and others. It is interesting to know that, the portable speakers segment under wireless audio devices is estimated to grab a market share of about 46% until the end of 2025. North America is seen as a prosperous market region for wireless audio devices. The demand for portable speakers in this region is quite impressive and the segment is predicted to grow with an exponential CAGR of 10.5% for the period 2017-2025.

Currently, there is intense competition among manufacturers, since the prominent companies are experimenting with all sorts of features, colors and materials with an aim to take down rivals. In the coming years, the industry for wireless audio devices is expected to expand due to such standard innovations. 

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