Market Insights Reports delivers key insights on the Asia-Pacific Wireless Audio market in its latest report titled, “Asia-Pacific Wireless Audio Market – Growth, Trends, COVID-19 Impact, And Forecasts (2021 – 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The Asia-Pacific wireless audio market is expected to register a CAGR of 16% during the forecast period (2021 – 2026).
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Top Key Players in the Asia-Pacific Wireless Audio Market: Sony, Samsung Electronics, Xiaomi, Bose Corporation, Apple, and Others.
– In May 2020 – Xiaomi announced its first true wireless earbuds, the Mi TWS Earphones 2 in India. The Mi True Wireless Earphones 2 have a semi-in-ear design to offer a comfortable fit and offers up to 14 hours of battery life with the charging case and up to 4 hours’ worth of listening on a single charge.
– In Feb 2020 – Xiaomi Mi launched Outdoor Bluetooth Speaker. Mi Outdoor Bluetooth Speaker is quite light and compact, making it easy to carry anywhere and everywhere. It is compatible with both Android and iOS devices and connects via Bluetooth 5.0. The speaker has a frequency response of 20 to 20KHz. The 2,000mAh battery present in the speaker will give 20 hours of music playback.
Key Market Trends:
Bluetooth Speakers to Witness Highest Market Growth
– The need and popularity of wireless speakers bolstered the demand for Bluetooth speakers over the past few years. This trend can be attributed to the greater availability of these devices at affordable prices and the consumer preference for smart portable devices. ?
– With this rising demand for wireless speakers, Bluetooth technology has gained momentum in the market for speakers, globally. This is because the technology works with a wide range of mobile devices, including Apple iPhone and Android smartphones. Bluetooth speakers also tend to be less pricey than WiFi options.
– Moreover, in the Chinese market, the prominence of Bluetooth speakers has increased. According to Qualcomm, as of 2019, the Chinese consumers looked for better sound quality, the ability to play at loud volumes without distortion, long standby hours on battery, an affordable price, and Bluetooth speakers fit best for these demands.
– Furthermore, the launch of Bluetooth 5.0 version enabled a new feature, which allows the user to play audio on two connected devices at the same time. In other words, one can play audio on two different speakers in different rooms. This is expected to boost the market growth for Bluetooth speakers.
Top Line Market Forecast:
Both Regional and Asia-Pacific sectors are included in the Outlook, with special breakouts for the NAM, European, MENA, and Asia-Pacific regions. The data covered is from 2015 to 2019 historically and from 2020 to 2026 forecasted, it also includes the impact of Covid-19 both on the short- and long-term prospects of the industry.
Browse Complete Report details with Table of Content:
China to Dominate the Market Growth
– China dominates the Asia-Pacific wireless audio device market. The Chinese economy maintains high-speed growth which has been stimulated by the consecutive increases of industrial output, imports & exports, consumer consumption, and capital investment. Moreover, increased R&D expenditure by OEMs for the development of new and advanced wireless audio devices is fueling the growth of the wireless audio device market in the country.
– Owing to the vast availability of resources and cheap labor, various multinational companies have also set up their manufacturing plants, thus making the country an ideal destination for multi-million investments in the field of wireless audio devices.
– Moreover, China is poised to be a leader, in terms of the volume of smartphones, with a 37% share, by 2018. This emphasizes the importance and growing demand for wireless audio devices in China.
– Asian countries, such as China, India, South Korea, Taiwan, and Japan, have a significant presence of manufacturers of the raw materials used in wireless speakers manufacturing, who has experienced lockdown and disrupted the production schedules. The sales have been down as the lockdown in most of the global economies has been resulted in deliveries limited to essentials and has resulted in companies revising their revenue targets.
– However, with the resurgence, the Chinese market is likely to grow and dominate the Asia-Pacific wireless audio market as there is a surge in the global demand for infotainment devices and a rise in the use of wireless audio devices in the commercial sector.
This Asia-Pacific Wireless Audio Market report addresses:
– The Market size from 2016-2021
– Expected market growth until 2026
– Forecast of how market drivers, restraints, and future opportunities will affect
– Segment and regions that will drive or lead the market growth and why
– Comprehensive mapping of the competitive landscape
– In-depth analysis of key sustainability strategies adopted by market place
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Post Covid-19 Analysis:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
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