Wireless Audio Market Growth Forecast at 23.2% CAGR to 2020

PUNE, India, April 29, 2016 /PRNewswire/ --

The growth of wireless audio market is mainly driven by smartphones, rise in the adoption of portable devices and is expected to reach $54.07 billion by 2022; at a CAGR of 23.2% between 2016 and 2022 with the segment of consumer application is forecast to rise at a highest CAGR during the forecast period.

Complete report on global wireless audio market spread across 152 pages, profiling 10 companies and supported with 70 tables and 57 figures is now available at http://www.rnrmarketresearch.com/wireless-audio-market-by-product-soundbar-speaker-headphones-headset-technology-bluetooth-wi-fi-sonos-airplay-application-home-audio-consumer-automotive-commercial-and-geography-global-forecast-to-2022-market-report.html .

There is an increasing demand for wireless audio products such as wireless headsets, headphones, speakers, and sound bars because of the growth of the market for smartphones, which are used as a source of entertainment, rise in the adoption of portable devices, high expenditure on R&D for wireless audio technology by OEMs, advancements in technologies, and growing demand for infotainment services.

The growth of the consumer application is majorly driven by the rapid growth of the markets for smartphones, computers, and tablets. Most of the smartphones, tablets, and computers in the market are equipped with inbuilt Bluetooth and Wi-Fi connectivity; thus, it's very convenient for the users of smartphones, tablets, and computers to play music using wireless audio products.

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (34%), Tier 2 (40%) and Tier 3 (26%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (32%), Director Level (28%) and others (40%) from various key organizations operating in the global wireless audio market. The primary interviews were conducted worldwide covering regions such as Americas (40%), Europe (30%), APAC (20%) and RoW (10%).