Wilmington, Delaware, United States, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global earbuds market was projected to attain US$ 18.2 billion in 2022. It is anticipated to garner a 10.4% CAGR from 2023 to 2031 and by 2031; the market is likely to attain US$ 43.9 billion by 2031.
In addition to being extremely portable, convenient, and noise-isolating, earbuds provide a great listening experience. The earbuds market statistics are supported by innovations like in-ear monitoring, active noise reduction, customizable functions, and water resistance.
There are more than 3000 earbud brands in the globe, and most customers do not possess any audio equipment from well-known manufacturers. The music business has been significantly impacted by the increase in earbud use. This influence is seen in the creation and consumption of music, as listening habits change as accessibility increases.
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Key Findings of the Market Report
- The increasing popularity of streaming services and the growing demand from customers for seamless device and music library integration have driven the earbud industry.
- Demand for the newest items among consumers is growing, which is driving the earbuds industry.
- As they value a great listening experience and see audio gadgets as a means of self-expression, consumers seek earbuds with advanced features and stylish designs.
- Leading companies in the market are making large investments in the creation of wireless earbuds and in-ear monitors to meet the growing needs of the music production and listening industries.
Market Trends for Earbuds
- In order to improve their audio listening experience, consumers are actively looking for earbuds with cutting-edge features. Long-lasting battery life to support a modern lifestyle, customized sound profiles, and active noise cancellation (ANC) for immersive listening are all very desirable.
- The audio technology environment is constantly changing due to advancements in earbuds, including sophisticated sensors and health monitoring features.
- Consumers are looking for earphones that fit their preferred style and provide high-quality music. A product's small build, adjustable colors, and sleek designs are important characteristics that influence consumer preference. Earbuds with touch controls are becoming more and more popular since they are convenient to use and work with virtual assistants.
- This demonstrates how people are beginning to view audio equipment as fashion items that complement their sense of style and personality and provide an immersive sound experience.
- The earbuds market is growing owing to the seamless integration of earbuds with a variety of smart devices, including smartphones, tablets, and smartwatches. Fitbits and fitness trackers are becoming more and more popular, and they go well with earphones since they provide a seamless and engaging experience, especially when working out. Wireless connection and voice assistant integration are two examples of innovations that give customers a better audio experience.
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Global Market for Earbuds: Regional Outlook
- In terms of market share, Asia Pacific led the earbuds market in 2022. The market figures are being driven by an increase in disposable income and a boom in the acceptance of audiophile culture. The demand for earphones in China, Japan, and India is being driven by advancements in wearable technology and the expansion of the electronics manufacturing industry. Over 200 million headphones and earbuds are sold in Asia Pacific each year, according to a research. Most of these sales in the region are made in China.
- The earphones market in North America is expected to increase steadily throughout the forecast period, according to the most recent projection. The United States is the greatest revenue-generating area in North America.
Global Earbuds Market: Key Players
As customer tastes continue to change, well-known manufacturers are concentrating on creating innovative small audio buds and compact air pods to suit the growing need for greater sound quality at reasonable costs. The following companies are well-known participants in the global earbuds market:
- Beats Electronics (Apple Inc.)
- Bose Corporation
- Sennheiser Electronic GmbH & Co. KG
- LG Electronics Inc.
- Yamaha Motor Pvt. Ltd.
- Koninklijke Philips N.V.
- Koss Stereophones
- Masimo
- GN Audio
- Samsung
- Harman International Industries
- Panasonic Life Solutions Pvt. Ltd.
Key developments by the players in this market are:
- Sennheiser unveiled three new items at the CES 2024 Tech trade show in January of 2024. The company's latest earbuds, the Momentum Sport TWS, have the ability to track body temperature and heart rate.
- Nothing announced the launching of Truly Wireless Stereo (TWS) earphones in March 2023. The ANC on these earphones is adjustable.
Global Earbuds Market Segmentation
Product Type
- In-ear
- Over-ear
User Operating System
- iOS
- Android
Distribution Channel
- Hypermarkets/Supermarkets
- Multi Branded Stores
- Exclusive Stores
- Online
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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