A new report from Research and Markets (www.researchandmarkets.com) says that the global wireless audio devices market will be worth $39 million by 2022.
The market is expected to garner $38,807.5 million by 2022, registering a CAGR [compound annual growth rate] of 24.4% during 2016-2022, according to the research group. The wireless speaker systems segment is expected to dominate the market through 2022. North America is expected to be the leading region in the market during the forecast period.
Research and Markets says that wireless audio devices have emerged as an ideal alternative to traditional wired audio devices, owing to their portability, convenience, cost-effectiveness, efficiency, and flexibility. Increasing penetration of infotainment devices, such as mobile phones, laptops, tablets, automobile infotainment devices, coupled with increasing demand for mobility services drive the market growth. In addition, the adoption of wireless audio devices has increased in the commercial sectors including, tourism, education, and media and entertainment among others.
In 2015, wireless speaker systems segment accounted for the maximum revenue share in the overall wireless audio devices market due to compatibility of wireless speakers with computer and infotainment devices such as mobile phones, tablets, and laptops. The latest features integrated in wireless speakers including high definition sound, Dolby Digital sound, 3D surround sound, and others boost the market growth for wireless speakers, says Research and Markets.