Bluetooth technology to occupy the biggest share of the global wireless audio market by 2023
Bolstered by the increase in demand for smartphones, bluetooth technology is set to hold the largest size of the wireless audio market by 2023.
Bluetooth technology to occupy the biggest share of the wireless audio market by 2023
The wireless audio market is estimated to grow at a CAGR (compound annual growth rate) of 10.06% from $16.13bn in 2016 to $ 31.80bn according to a research by Reportlinker.
Links with Wi-Fi and ultra-wideband (UWB) broadcast technologies and the ability to interact with other devices without relying on traditional wired connection has further boosted its growth.
The report further claimed the increase in market for smartphones, tablets, and wireless audio devices would power the wireless audio market in APAC region to grow at a high rate between 2017 and 2023.
Chinese smartphone brands now account for 24% of global market, while India powered ahead of US to become the world's second largest smartphone market.