How fast is the wireless audio market growing? Shockingly fast…
Thanks to smartphones, tablets and other mobile devices of choice the wireless audio market which include technologies like; bluetooth sound bar speakers, wireless sound systems, wireless headphones and microphones are in high demand.
Shockingly the audio wireless market has reported growth 3 times faster than the current smartphone market, expected to rake in as much as $38.5-billion within 7 years.
Now when we compare the wireless audio market’s projected numbers to last year’s $6.9-billion value, we show a compound annual growth rate of just over 24 percent from now to 2022.
According to the IDC, the smartphone market is projected to show only an 8 percent compound annual growth rate from now to 2019.
Anshul Gupta, research director at Gartner says that the smartphone market has seen slower growth in recent years because the market is driven by replacement, seeing fewer-first time buyers.
Apple, Bose, Harman, Sennheiser, Sony, and Philips are currently leading the wireless audio market today.