Wireless Earphone Market to Reach US$ 18.2 Bn by 2031; Penetration of Smart Devices to Spur Sales: TMR Study
Saturday, August 13, 2022
-- Manufacturers capitalizing on the attributes of noise -cancellation
features, long-battery life, portability, and comfort to capture value
in wireless earphone market; adoption of canal earphones to rise in
various sector
-- Massive demand for Bluetooth-enabled earphones underpins substantial
revenues; North America and Europe have been remarkably lucrative
markets, where growth to be propelled by new technologies
WILMINGTON, Del., Aug. 5, 2022 /PRNewswire/ -- Headphone and audio equipment manufacturers are launching wireless earphones that have superior sound quality, remarkable noise-cancellation features, portability, superfast charging time, and water-resistant designs to capture value. They are increasingly commercializing slew of affordable and comfort fit products with aim to stay ahead in the category of best wireless earbuds in 2022. The size of the wireless earphone market was pegged at US$ 8.67 Bn in 2021.
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Rise in adoption of wireless earphones for use in gaming, fitness, and entertainment applications has resulted in increase in wireless earbuds market size. Manufacturers of best Bluetooth earphones are leveraging online retail to spur sales, especially in the emerging economies. Companies are launching premium models in best noise cancelling earbuds to enrich the value proposition of their flagship products in the wireless earphone market.
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Key Findings of Wireless Earphone Market Study
-- Rise in Smartphone Users Steering Demand for Wireless Earphones:
Worldwide, smartphone subscribers have risen sharply over the years.
Rise in penetration of smartphones in developing economies along with
preference toward wireless devices has spurred the demand in the
wireless earphone market.
-- Manufactures Tapping Enormous Revenues from Sales of Bluetooth-Enabled
Devices: Consumers are attracted toward best noise cancelling earbuds
for use in sports & fitness, and the music & entertainment sectors.
Leading players are leaning on ensuring easy installation of the
earphones and offer user support post-purchase. Rise in adoption of
smart devices compatible with Bluetooth Low Energy (LE) radio has
expanded the avenue in the wireless earphone market.
-- Firms Continuously Capturing Value from Improvements in Product
Features: Earphone manufacturers are keen on offering augmented products
to differentiate their offering, notably battery life, designs, sound
optimization, and ease of connectivity. The TMR study found that canal
earphones present an enormous avenue in the global wireless earphone
market. In particular, they have gained popularity due to the superior
comfort fit when used for long durations. Manufacturers have equipped
canal earphones with memory foam, rubber, and silicone cushions to
enhance comfort.
Wireless Earphone Market: Key Drivers
-- Rising number of consumers using smart devices are preferring wireless
connectivity functionality. Thus, growing shipment of smart portable
devices will create vast lucrative avenue for firms in the wireless
earphone market.
-- The past few decades have witnessed advancement in wireless networking
standards, thus bolstering the prospects of the wireless earphone
market. Smartphone manufacturers for instance are geared toward tapping
into the stable revenues by unveiling phones that seamlessly support
wireless connection to accessories.
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Wireless Earphone Market: Regional Growth Dynamics
North America and Europe have emerged to be established markets for wireless earphones. Earphone manufacturers thus are leaning on offering augmented products and new features to capture wireless earbuds market share in these mature markets. Of note, they are focusing on promoting enhanced voice quality and fast charging features to attract consumers.
Meanwhile, the opportunities in the Asia Pacific at projected to advance at promising pace during the forecast period, finds the study on the wireless earphone market. A slew of launches of smartphones with innovative wireless connectivity features will boost the revenue potential.
Wireless Earphone Market: Key Players
A few large-scale vendors control the demand and supply in the wireless earphone market, rendering the strategic landscape fairly consolidated. Some of the key players in the market are Samsung Electronics Co, Ltd., Jabra, SONY Corporation, Bose Corporation, Plantronics, Inc., OnePlus Technology Co., Ltd., Apple, Harman International Industries, and Skullcandy Inc.
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Wireless Earphone Market Segmentation
-- By Type
-- Earbuds Earphone
-- Canal Earphone
-- By Connectivity
-- Wi-Fi
-- Bluetooth
-- NFC
-- By Application
-- Music & Entertainment
-- Sports & Fitness
-- Gaming & Virtual Reality
-- By Distribution Channel
-- Online
-- Offline
-- Supermarket/Hypermarket
-- Multi-brand Electronic Stores
-- Exclusive Showrooms
-- Others
Regions
-- North America
-- Europe
-- Asia Pacific
-- MEA
-- South America
Consumer Goods Research Reports
Home Audio Equipment Market - The home audio equipment market is expected to surpass the value of US$ 82.07 Bn by the end of 2031, expand at a CAGR of 12.5% from 2021 to 2031
3D Audio Market - The global 3D audio market is expected to reach the value of US$ 22 Bn by the end of 2031, expand at a CAGR of 15.5% from 2021 to 2031
Background Music Market - The global background music market is expected to surpass value of US$ 2.3 Bn by the end of 2031, expand at a CAGR of 5.1% from 2022 to 2031
Consumer Electronics Market - The global consumer electronics market is expected to surpass the value of US$ 1 Trn by the end of 2031, expand at a CAGR of 8.5% from 2021 to 2031
Automotive Speaker Market - The global automotive speaker market is expected to expand at a steady CAGR of 3.6% during the forecast period
Power Bank Market - The global power bank market is expected to reach US$ 18.5 Bn by the end of 2031, It is estimated to grow at a CAGR of 6.1% from 2022 to 2031
Set-Top Boxes Market - The global set-top boxes market is expected to reach value of US$ 35.2 Bn by the end of 2031, grow at a CAGR of 6.4% from 2022 to 2031
About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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Transparency Market Research Inc.
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SOURCE Transparency Market Research
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