Global Wireless Earphone Market by Application (Virtual Reality, Music & Entertainment), by Distribution Channel (Online, Offline) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2019, the global wireless earphone market was worth USD 2.17 billion. It is projected to grow at a compound annual rate (CAGR), of 5.8% between 2020 and 2027. Wireless earphones are gaining popularity due to their improved audio quality, increased internet penetration, multitasking while listening and advances in mobile technology. This has led to the creation of more user-friendly and smarter devices. The technological advances have also led to the development of smartphones with notchless displays, which will support the demand for wireless headphones. Product sales are expected to rise due to the increasing demand for stylish and attractive designs. The market will grow due to the availability of wireless earphones compatible with Active Noise Cancellation (ANC), an advanced technology that eliminates background noises and improves sound quality.

Technology advancements such as Bluetooth or W-Fi are expected to drive significant growth in the wireless earphone market. Many startups as well as established companies such Samsung Electronics, Bose Corporation and Sony Corporation are now focusing on the development of innovative products. This will also increase the demand for wireless headphones.

The brands are able to appeal to a large consumer base by incorporating technological innovations in their manufacturing processes. The products have major improvements such as noise cancellation and wireless connectivity, which has boosted its popularity among millennials. Manufacturers are also gaining access to the internet and smartphones, which is allowing them to be a viable market player.

The market will grow if earphones can be transformed into smart, multifunctional gadgets. Consumers are using wireless earphones more frequently for a variety of purposes. They can listen to music, audiobooks, or stream digital podcasts. They also have the ability to receive calls and make calls, all while being free from their hands. The rapid technological advances and constant change in consumer preferences are driving wireless earphones' popularity. Wireless earphones are highly popular because they can be focused on comfort and sound quality.

Application Insights

Music and entertainment had a 33.8% share of the wireless earphones market in 2019, accounting for 33.8% of all revenue. With Wi-Fi being widely available, consumers can listen to music and watch videos indoors or outdoors. The millennial and teen culture of listening to music while they work or relax has been a key driver for wireless earphone adoption, particularly among teens. High demand for wireless headphones for music and entertainment can also be linked to consumer preference.

Virtual Reality will see the most growth during the forecast period. Wireless earphones are in high demand due to the growing desire to improve the VR experience. Plantronics, Inc. and Sony Corporation collaborated to create headphones that would enhance the VR experience using PlayStation VR. The fitness app is expected to see significant growth due to the increasing use of headphones in gyms and other fitness centers.

Distribution Channel Insights

With a 53.4% share in 2019, offline distribution channels were the dominant market for wireless headphones. The offline distribution channels dominated the market for wireless earphones with a share of 53.4% in 2019. This can be attributed to their ability to provide a real-world experience by offering a thorough analysis of the technology used. Marshall Amplification PLC and Xiaomi Corp. and Apple Inc. owned their retail outlets in all regions, providing easy access and convenience for consumers.

The fastest projected CAGR for online channels is 6.1%, owing to growing populations and increasing adoption of smartphones. The U.S. and the U.K. are technologically advanced, which plays a significant role in segment growth. These channels provide the latest devices. According to Internet World Stats in 2019, Asia was home to 50.4% of all internet users worldwide. The rapidly expanding E-commerce industry around the world has allowed customers to compare products from different companies and thereby boosting online sales. Amazon, eBay, Flipkart and Alibaba offer the most up-to-date products at discounted prices. They also offer value-added services such as easy returns and Cash On Delivery (COD).

Regional Insights

North America was the dominant market for wireless headphones in 2019, with a 30.5% share. The region's high internet penetration rate, which was 89.1% globally, is believed to be a key factor. A key trend is the high market visibility of smart Bluetooth speakers in the U.S.A and Canada. In the region, the preference for Wi-Fi and AI-enabled Bluetooth speaker plays an important role in market growth.

Asia Pacific will experience the fastest CAGR at 7.1% during the forecast period. The region is seeing a shift in preference to technology-led premium products, such as those from India and China. This is driving market growth. The region is seeing a rise in sales of smart devices such as tablets, smartphones and phablets. This will lead to a greater demand for music on the go, which in turn will encourage the use of wireless headphones.

Market Share Insights & Key Companies

Wireless earphones have been subject to intense competition, with many domestic and international players making it a highly fragmented market. Many new players have entered the global market, offering a variety of products. Market competition has intensified with the introduction of wireless headphones and the widespread acceptance of the product by consumers. To maintain market competition, established players launch new products that are smarter and more intelligent. To gain more market share, some of the leading companies offer language translation and enhanced hearing capabilities. These are some of the most prominent players in global wireless earphone markets:

• Apple Inc.

• Bose Corporation

• Sony Corporation

• Samsung

• JVC

• OnePlus

• Jaybird

• Beats

• Shure Inc.

• Sennheiser electronic GmbH & Co. KG.

Up Market Research published a new report titled “Wireless Earphone Market research report which is segmented by Application (Virtual Reality, Music & Entertainment), by Distribution Channel (Online, Offline), By Players/Companies Sony Corporation, Sennheiser electronic GmbH & Co KG, Shure Inc, OnePlus, Bose Corporation, JVC, Samsung, Jaybird, Beats, Apple Inc”. 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 Wireless Earphone Market Report Segments:

The market is segmented by Application (Virtual Reality, Music & Entertainment), by Distribution Channel (Online, Offline).

Wireless Earphone 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 Wireless Earphone Market

Overview of the regional outlook of the Wireless Earphone 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 Wireless Earphone Market Report:

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

                1. Virtual Reality

                2. Music & Entertainment

                1. Online

                2. Offline

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

We have studied the Wireless Earphone 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 Wireless Earphone 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.