Wireless Earbuds Market to Exhibit a Remarkable CAGR of 15.2% by 2028 | Industry Trends, Strategies, Size, Share and Regional & Global Analysis
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. Furthermore, escalating demand for high-end music & entertainment devices, mainly among the younger population, emergence of advanced technologies such as ANC (active noise cancellation), and rising demand for wireless earbuds that are highly compatible with intelligent virtual assistants including Alexa, Siri, Cortana, and Google Assistant have further boosted the global market growth over the recent past.
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The global wireless earbuds market has gained significant traction in the last few years, with growing demand for Bluetooth or Wi-Fi-enabled wireless audio devices and addition of advanced features such as sensors, touch controls, real-time language translation, and built-in AI to wireless earbuds. Growing popularity of live streaming services and rising interests in podcasts and audiobooks have further driven demand for wireless earbuds. Rising awareness of health & fitness and growing use of wearable health gadgets such as fitness bands are other key factors propelling market growth.
Emergen Research has published a novel research report titled, "Global Wireless Earbuds Market Forecast to 2028". The report sheds light on the current as well as upcoming market trends. The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Wireless Earbuds market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
The global Wireless Earbuds market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Wireless Earbuds market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Major Companies in the Market Include:
Apple Inc., Bose Corporation, Sony Corporation, Samsung, JVC, OnePlus, Jaybird, Beats Electronics LLC, Shure Inc., and Sennheiser electronic GmbH & Co. KG., among others.
Key Highlights From 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.
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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)
Music & entertainment
End-use Outlook (Revenue, USD Billion; 2018-2028)
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
Offline retail stores
Regional Outlook (Revenue, USD Billion; 2018-2028)
Rest of Europe
Rest of the Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of the Middle East & Africa
Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter's five forces analysis, and pricing analysis, to give precise market information.
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