2000s

The Wave continued providing a local service to the Swansea, Neath Port Talbot and East Carmarthenshire. In 2002, The Radio Authority announced plans for a Swansea DAB multiplex to form, allowing The Wave to broadcast on a digital platform under the format of contemporary hit radio.^[5] 2003 saw the station adding the South Wales' Hit Music tagline as their slogan^[6] as well as a highly popular competition called A Week on Wheels, which returned the following year as a promotion.^[7]

In January 2004, The Wave was officially launched on the new DAB multiplex.^[8] The Wave came under management of UTV Radio in 2005, when the company acquired The Wireless Group, the owner of the station in the early 2000s.^[9] The station also ran Party in the Park concerts in Singleton Park, Swansea for many years, but due to the financial cost, the event ended in 2006.^[10] Instead, The Wave began a partnership with Escape into the Park, a similar music event involving mostly contemporary dance music.^[11] In 2008, The Wave began using the marketing brand You Love It, We Play It, which was processed by then-owners UTV Radio.^[12] The following year, the station switched to the Today's Best Mix strapline.^[13]

2010s

The Wave and Swansea Sound were involved in UTV Media's Wales Live scheme, an aborted attempt to provide a service designed to support local news through radio, television and online services. The project was set to launch by October 2010, but ultimately failed.^[14]

The Wave, along with other local commercial radio stations within the UK, became a part of the Radioplayer UK project, an internet service formed by the BBC, Global Radio and the Guardian Media Group to supply a listen live feed of UK radio stations across the world.^[15][16] The Wave's owner, UTV, was renamed the Wireless Group in 2016.^[17] On 8 February 2019, The Wave was sold alongside Swansea Sound and the Wireless Group's network of local radio stations to Bauer Radio.^[18]

2020s

In May 2020, Bauer announced that The Wave would join the Hits Radio network, while retaining its localised on-air branding.^[19] The Wave began carrying most of the network's off-peak programming from Manchester from 15 June 2020.^[20] The Wave officially joined the Hits Radio network on 20 July 2020.^[21] In May 2022, The Wave began broadcasting network programming after the local breakfast show on weekdays, alongside hourly local news bulletins seven days a week and traffic updates at peak times.^[22]