Wireless Audio Device Market Size Global Forecast Research to 2026
The latest Wireless Audio Device market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most players in this market. The major players in the wireless audio device market are Apple (US), Sony Corporation (Japan), Harman International Industries (South Korea), Sonos (US) and Bose Corporation (US). The wireless audio device market size is projected to grow from USD 69.6 billion in 2021 and to reach USD 153.3 billion by 2026; it is expected to grow at a CAGR of 17.1% during the forecast period. Download PDF Brochure @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1275&utm_source=Freprosonali&utm_medium=sonali&utm_campaign=sonali
COVID-19 Impact on the Global Wireless Audio Device Market The COVID-19 pandemic has resulted in disruptions across the world, which led to the global health and financial crisis. The wireless audio device market, too, has been affected by the pandemic. The major players in the North American region faced supply issues owing to the lockdowns and movement restrictions imposed by several governments. The region also witnessed a shortage of semiconductor chips as the production was halted to contain the spread of the virus. The region witnessed a decline in revenue caused by the pandemic in the first half of 2020. However, the demand started rising from the second half of 2020 for wireless audio devices after opening up the economic activity. The second half of 2020 witnessed a surge in the annual shipments for several consumer electronics, including personal audio devices arising out of several factors such as improvements in the infection rate, opening up of physical stores, shifting consumer behavior such as revenge buying, etc. The COVID-19 pandemic has resulted in severe disruptions, which has halted the economic activities across Europe in the year 2020. The supply chain has been severely impacted due to the closing of factories and stores across Europe to curb the spread of the virus. The major players in the region, such as Zound Industries and GN Group in the wireless audio device market, have witnessed a decline in their shipments for wireless audio devices during the first two to three quarters of 2020. The situation fairly improved during the last quarter of 2020, where the movement restrictions and lockdowns imposed were lifted. The opening up of brick and mortar shops and the impartments in the supply chain have resulted in the increased demand for consumer electronics in general. Wireless Audio Device Market Dynamics Driver: Surge in global demand for infotainment devices