The global wireless earbuds market size is expected to reach USD 14.23 billion by 2028 at a CAGR of 15.2%, according to a new report by Emergen Research. Market revenue growth is majorly supported by wider access to the Internet, growing use of smartphones with advanced features functionalities, emergence of advanced wireless technologies, and rising disposable incomes of consumers, especially in developing nations such as India and China. Other key factors driving market growth are rising demand for wireless earbuds among students and the working population, growing trends of work from home and online schooling in the pandemic era, and increasing availability of wireless earphones at highly affordable prices, manufactured by companies such as Oppo, Vivo, and Xiaomi.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others. The latest and updated research report on the Global Wireless Earbuds Market covers a comprehensive overview of the Wireless Earbuds market, future economic condition, competitive landscape mapping, supply and demand trends, and production and consumption analysis. The report also covers the influence of the COVID-19 pandemic on the Wireless Earbuds market. The pandemic has dynamically affected all aspects of life on a global scale along with drastic changes in the economy and market conditions.
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Some Key Highlights of the Report:
- Based on application, the music & entertainment segment is the fastest-growing segment in the global wireless earbuds market. The segment is projected to register the highest CAGR over the forecast period, owing to factors such as growing demand for high-end entertainment devices with enhanced audio and noise cancellation features, increasing number of smartphone users, and growing inclination towards live music streaming and podcasts.
- Among distribution channels, the online platforms segment is expected to reach the highest revenue share over the forecast period, owing to the significant rise of the e-commerce industry, rising trend of online shopping, and growing availability of wireless earbuds on leading e-commerce platforms such as Amazon, Flipkart, and Walmart, often at discounted prices.
- In 2020, North America was the most dominant of all regional markets in the global wireless earbuds market in terms of revenue. Market growth in this region is attributed to rising adoption Alexa or Siri-compatible smart home devices, increasing indulgence of the youth in online gaming and other entertainment activities, rising demand for wireless earbuds among tech-savvy consumers, and increasing use of these devices during fitness activities or outdoor sports. The presence of leading brands including Bose, Apple, and Beats Electronics in the region is another major factor accounting for the North America market growth.
Prominent Players Analyzed in the Report:
Apple Inc., Bose Corporation, Sony Corporation, Samsung, JVC, OnePlus, Jaybird, Beats Electronics LLC, Shure Inc., and Sennheiser electronic GmbH & Co. KG., among others.
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Furthermore, the report divides the Wireless Earbuds market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
For the purpose of this report, the global wireless earbuds market is segmented on the basis of application, end-use, distribution channel, and region:
Application Outlook (Revenue, USD Billion; 2018-2028)
- Fitness
- Gaming
- Music & entertainment
- Virtual Reality
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Commercial
- Consumer
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Online platforms
- Offline retail stores
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2020-2028. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Overview of the Wireless Earbuds Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
- In-depth analysis of the risks, restraints, and limitations in the Wireless Earbuds industry
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