WiSA Technologies, Inc. (NASDAQ: WISA), a leading innovator in wireless audio technology for intelligent devices and next-generation home entertainment systems, is pleased to report seeing continued penetration into the $296 billion wireless audio market fueled by interest in its WiSA E software.
WiSA E wireless multichannel software offers significant advantages for both consumer electronics manufacturers and end users. For manufacturers, WiSA E integrates multichannel wireless audio functionality into streaming media devices without the need for costly hardware solutions, thereby reducing production costs and enhancing product offerings.
As software, WiSA E functionality can be unlocked at any time, providing end users the freedom to add multichannel audio capabilities on their timeframe and offering manufacturers an aftermarket revenue stream based on consumer activation. WiSA E-certified devices offer interoperability seamlessly across different products and brands, ensuring broad compatibility and consumer appeal. End users benefit from the ease of expanding their audio setup, as WiSA E allows them to seamlessly add satellite speakers at any time, creating an immersive home audio environment. This flexibility and user-friendly approach make WiSA E a compelling solution for bringing high-quality wireless audio to a mass market.
“Consumers are searching the market for the type of disruptive technology that we have created, and our manufacturers and partners are seeing the benefits of our software,” says Brett Moyer, CEO of WiSA Technologies. “We have gained significant momentum given the recent deals we’ve signed and are just on the cusp of gaining leadership in the space. We will continue to drive visibility to our brand and educate the audio market, while focusing on our goals of scaling, driving growth, and delivering shareholder returns. Given the strong foundation we’ve laid out and the momentum we’ve gained, we expect to continue locking down licensing agreements at every turn. Our technology is already penetrating the market, giving consumers ample options while still upholding our standards of interoperability and high-quality audio excellence.”
According to Grand View Research, the wireless audio device market was valued at $107.92 billion in 2023 and is expected to grow at a CAGR of 15.5% from 2023 to 2030, surpassing $296 billion. Interoperability and compatibility issues have been known as factors that hinder the growth of the wireless audio device market, which presents a massive opportunity for WiSA’s audio solutions.
About WiSA Technologies, Inc.
WiSA Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung; LG; Hisense; TCL; Bang & Olufsen; Platin Audio; and others, the company delivers immersive wireless sound experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. WiSA Technologies, Inc. is a founding member of WiSA™ (the Wireless Speaker and Audio Association) whose mission is to define wireless audio interoperability standards as well as work with leading consumer electronics companies, technology providers, retailers, and ecosystem partners to evangelize and market spatial audio technologies driven by WiSA Technologies, Inc. The company is headquartered in Beaverton, OR with sales teams in Taiwan, China, Japan, Korea, and California.
About the WiSA Association
WiSA® educates, evangelizes, and promotes solutions for spatial audio in the home. Working in collaboration with technology developed by WiSA Technologies, Inc., WiSA Association engages with leading consumer electronics companies, technology providers, retailers, and ecosystem partners to make immersive audio an experience everyone can enjoy. WiSA, LLC – the Wireless Speaker and Audio Association – is a wholly owned subsidiary of WiSA Technologies, Inc. For more information about WiSA, please visit: www.wisatechnologies.com.
Safe Harbor Statement
This press release contains forward-looking statements, which are not historical facts, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify these forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements, including statements herein regarding our business opportunities and prospects, as well as our licensing initiatives and expectations, are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties regarding, among other items: the degree to which the licensee implements the licensed technology into its products, if at all; the timeline to any such implementation; our current liquidity position and the need to obtain additional financing to support ongoing operations; general market, economic and other conditions; our ability to continue as a going concern; our ability to maintain the listing of our common stock on Nasdaq; our ability to manage costs and execute on our operational and budget plans; our ability to achieve our financial goals; and other risks as more fully described in our filings with the U.S. Securities and Exchange Commission. The information in this press release is provided only as of the date of this press release, and we undertake no obligation to update any forward-looking statements contained in this press release based on new information, future events, or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240606097711/en/