Global True Wireless Stereo Earbuds Market by Price Band (Over USD 200, Below USD 100, USD 100-199) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global true wireless stereo earbuds market was valued at USD 25.32 Billion in 2020. It is projected to grow at a 36.1% compound annual growth rate (CAGR), between 2021 and 2028. The market growth of true wireless stereo (TWS), earbuds is expected to be driven by the increasing demand for streaming audio and the rapid expansion of short video apps. TWS earbuds are an integral part the smart audio device industry and will see strong growth in the future. Already, the industry has seen the benefits of integrating multiple sensors into one device. The future will see radical technological advances, such as the development of cost-effective Bluetooth chips that last longer and have a longer lifespan, which will allow for market growth.

Apple AirPods were a key player in driving market growth in 2016. Many other players, including audio and smartphone manufacturers, followed their lead. TWS is the fastest-growing segment of the smart personal audio market, having been launched four years ago. The global uptake of these devices has led to supply chain improvements, with technological developments focusing on the main control chip and power management. Technology will not be the only market driver. Audio quality and convenience will continue to be key drivers. These devices are popular because of their cable-free functionality, longer battery life and more than 70% greater battery life.

Asia Pacific accounted for a significant market share in 2020. Products below USD 100 are seeing strong demand. APAC has a dynamic market with both affordable and premium products. Consumers from Japan and South Korea prefer premium products over high-end ones. However, consumers from Southeast Asia have shown a preference for low-to-mid-priced products. As vendors such as Realme and Xiaomi strive to increase product availability in price-sensitive regions, APAC's demand for affordable devices is likely to rise over the forecast period.

The industry suffered minor losses due to COVID-19-led disruptions in its supply chain. TWS earbuds were not produced in China during the early 2020. However, production was back to normal by the second quarter. However, the pandemic didn't affect consumer demand because a greater percentage of product sales were online. The rising product demand for fitness activities/work-from-home has kept the market growth steady during the pandemic.

Earbuds are becoming more popular as hearing aid devices. To assist those with hearing impairments, manufacturers are focusing on including hearing aid features in their earbuds. Nuheara Limited, Apple Inc. and others have integrated ear ID personalization in the microchips used in TWS headphones. This microchip allows users to create unique sound IDs based on their ear profile and listening ability. The sound travels through the earbud's metal and is amplified/reduced depending on the settings made by the user via the hearing aid technology. Vendors have the opportunity to add new features to their products which will be a boon for future market growth.

Insights on Price Bands

The USD 100-199 price range segment was responsible for more than 50% of the total revenue in 2020. Market share has been largely contributed by vendors such as Apple Inc. and Samsung Electronics Co. Ltd. Apple Inc. will continue to dominate the global market for hearables over the next few years. The growth of the price range below USD 100 has been boosted by the COVID-19 pandemic and the associated uncertainties.

Many products have been launched by Indian and Chinese brands like Xiaomi, Baseus and boAt. This has resulted in a decrease in sales of higher-priced items, which in turn led to an increase in average selling prices worldwide for TWS earbuds in 2020. The pandemic's impact is decreasing, so the demand for mid-range products will likely increase, resulting in the launch of new products priced between USD 100 and USD 199. In 2021, companies such as Apple Inc. and Sony Corporation are expected to release new products in the low to mid-priced segment.

Regional Insights

North America dominated the global TWS market demand for 2020, with a share of more than 37%. Asia Pacific was close behind. TWS has seen a significant increase in demand in North America due to the popularity of AirPods. Many smartphone manufacturers have launched wireless earbuds that can be connected to their devices with special connectivity. Many consumers are now investing in accessories to go with their smartphones. These opportunities are expected to be exploited by smartphone vendors. Market growth is also aided by high tech penetration and the availability of new products early in their development.

China and India will lead the Asia Pacific region market due to the rise of many vendors that offer feature-packed products at affordable prices. Many Chinese and Indian vendors are looking for opportunities to expand their business in foreign markets. For cross-border ecommerce, well-established vendors take advantage of the existing supply chain to increase their sales. These vendors also offer attractive products at a lower price that appeal to a wider audience. Asia Pacific offers a wide customer base, many market opportunities, and low entry barriers. These factors will drive product sales in Asia Pacific, which is projected to surpass North America in terms of revenue over the forecast period.

Market Share Insights & Key Companies

There is a lot of competition in the market with vendors such as Apple Inc. and Skullcandy.com holding large portions of the market. To enhance the audio experience, market players focus primarily on innovating features for their products. Apple Inc.'s AirPods have an innovative vent design that balances pressure in the ear to reduce discomfort. This is not common with in-ear models. Since their December 2016 launch, the AirPods have experienced a huge increase in sales. Many premium brands are losing market share to Chinese sellers and local brands offering differentiated features at lower prices. These are some of the key players in the global true wireless stereo headphones market:

• Apple Inc.

• Bose Corp.

• Jabra

• Harman International Industries, Inc.

• Sony Corp.

• Sennheiser Electronic GmbH & Co.

• Xiaomi

Up Market Research published a new report titled “True Wireless Stereo Earbuds Market research report which is segmented by Price Band (Over USD 200, Below USD 100, USD 100-199), By Players/Companies Inc; Bose Corporation, Incorporated, Samsung Electronics Co Ltd; Sennheiser Electronic GmbH & Co; and Sony Corporation, Apple, Jabra, Harman International Industries”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global True Wireless Stereo Earbuds Market Report Segments:

The market is segmented by Price Band (Over USD 200, Below USD 100, USD 100-199).

True Wireless Stereo Earbuds Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the True Wireless Stereo Earbuds Market

Overview of the regional outlook of the True Wireless Stereo Earbuds Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The True Wireless Stereo Earbuds Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of True Wireless Stereo Earbuds Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Over USD 200

                2. Below USD 100

                3. USD 100-199

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the True Wireless Stereo Earbuds Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the True Wireless Stereo Earbuds Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.