The wireless audio market is expected to grow from USD 16.13 Billion in 2016 to USD 31.80 Billion by 2023, at a CAGR of 10.06% between 2017 and 2023.
The overall wireless audio market was valued at USD 16.13 billion in 2016 and is expected to reach USD 31.80 billion by 2023, at a CAGR of 10.06% between 2017 and 2023. The major factors driving the growth of the wireless audio market include increasing demand for smartphones as a source of entertainment, consumer preferences for portable devices, and advancements in wireless technologies.
The competition in the wireless audio market is high because of the presence of a large number of players. Some of the key players in the wireless audio market are Apple Inc.(US), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Bose Corporation (US), Sonos.
Inc. (US), DEI Holdings, Inc. (US), Harman International Industries, Incorporated (US), Sennheiser electronic GmbH & Co. KG (Germany), VIZIO, Inc.(US), and Voxx International Corporation (US).
Bose Corporation designs, develops, and markets sound systems. The company was founded in 1964 and is based in Massachusetts, US.
The company offers its products and services through retail stores, authorized dealers, audio integrators, and consultants in the US. In the wireless audio market, the company develops sound solutions designed for numerous applications in space programs, home audio systems, stadiums, auditoriums, department stores, restaurants, and the automotive sector, among others.
It provides automotive sound systems to a wide range of vehicle manufacturers, including Audi, Cadillac, Chevrolet, Fiat, and Porsche. Its professional sound systems are designed for several applications in restaurants, stadiums, nightclubs, performing-art centers, concert halls, auditoriums, and houses of worship.
The company offers loudspeakers, amplifiers, related software, and audio devices-related accessories; its products are embedded with latest technologies. The company mainly focuses on product lunches and development to grow in the market.
For instance, in April 2017, Bose launched a new Bluetooth speaker. This speaker has features such as omni-directional performance, new acoustic design, spread deep and super quality sound in every direction, and 12 hours of battery life.
The speakers can be integrated with NFC technology, which offers touch to pair and built in microphones for calling, and can be connected to Siri and Google Now.
Sonos, Inc. was founded in 2002 and has its headquarters in California US. The company has additional offices in Boston, Seattle, the Netherlands, the UK, and Germany, among others.
It has expanded its market presence in more than 60 countries worldwide. In addition, it has partnered with several streaming music providers, such as Spotify and napster, to connect its audio devices directly with such services.
With a constant focus on R&D in software and services, Sonos is improving its customers’ music experience. The company provides wireless audio systems, speakers, soundbars, home theaters, and audio streaming systems.
It focuses on developing innovative products to stay ahead in the competition. For instance, in March 2017, company launched PLAYBASE, a wireless home sound system and the newest speaker in the company’s home theater line-up.
PLAYBASE is a thin, powerful speaker, which can directly fit under the TV.
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