Wireless Earphone Market is likely to Reach US$ 18.2 Billion, expected to Register a CAGR of 7.9% from 2023 to 2031: TMR Report

Wilmington, Delaware, United States, June 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global wireless earphone market is expected to reach a valuation of US$ 18.2 billion by 2031, anticipated to register a CAGR of 7.9%. As of 2023, a valuation of US$ 9.9 billion is expected for the market. As the adoption of wireless and hands-free devices increase, the popularity of wireless earphones is rising tremendously.

The World Population Review estimates that 327 million Americans used mobile services in 2021. The Asia Pacific region's economic recovery and digital and green transformation depends on mobile networks. Some users have multiple smartphone lines for various reasons, such as one for individual use and one for business use. Nearly 1.6 billion Chinese people owned smartphones in 2022.

As per the Ministry of Information & Broadcasting, India has over 1.2 billion cell phone users and 600 million smartphone users. Additionally, with the very low data rates in the region, the rise in smartphone usage resulted in users consuming a high amount of information and entertainment via smartphones.

Product innovation and technological advancements, such as better sound output, battery life, wireless charging, appearance, connectivity, and portability, are additionally augmenting the wireless earphone market development.

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Market Snapshot:

Key Takeaways from the Market Report

• As of 2022, the market for wireless earphones was valued at US$ 8.9 billion
• Sales of wireless earphones are likely to expand by 1.8x from 2023 to 2031
• By type, on-ear wireless earphones are expected to account for over 50% of all sales
• Wireless earphones are likely to be extensively used for media & entertainment, accounting for over 2/5^th of the global revenue share
• By technology, sales of Bluetooth earphones are expected to soar significantly
• Based on distribution channel, e-commerce platforms are likely to be the primary points of contact for purchasing wireless earphones

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Wireless Earphone Market- Key Growth Drivers

• Sales of wireless earphones are increasing amid an increasing adoption of smart devices. The need for hands-free gadgets to avoid unnecessary connectivity hassles is driving sales of wireless earphones to a large extent.
  
• The expansion of the gaming industry is yet another driver responsible for accelerating wireless earphone sales. In today’s world, gaming has shifted from the big screen to smartphones, which offer highly convenient gaming alternatives.
  
• Enhanced sound quality is another reason why consumers are opting for wireless earphones. Conventional wired earphones provide limited output in terms of clarity and transparency, while wireless ones are equipped with the latest technologies enabling clarity in sound. Moreover, people are attracted towards their noise-cancellation features, a functionality which is not offered by wired earphones.
  

Wireless Earphone Market- Regional Profile

• The Asia Pacific is expected to emerge as the most profitable market for wireless earphone manufacturers. Countries such as India and China are expected to be the most promising, given the increasing smartphone usage in these nations.
  
• North America is likely to be the second-most attractive market. A shift in consumer base toward technology-driven premium products is anticipated to be the primary growth accelerator for wireless earphone demand.
  

Competitive Landscape

The global wireless earphone market is characterized by the presence of a significant number of manufacturers. This renders the market significantly competitive. These players are investing in extensive research & development projects in order to introduce new and varied product lines. Some of the key players profiled by Transparency Market Research are:

• Apple Inc.
• Bose Corporation
• Jabra
• Noise
• OnePlus
• Plantronics, Inc.
• Samsung Electronics Co, Ltd
• Sennheiser Electronic
• Skullcandy Inc.
• SONY Corporation

Some key developments in the market for wireless earphones are as follows:

• In June 2023, Apple Inc. revealed it is making enhancements to its AirPods portfolio. The company announced the introduction of adaptive audio that blends transparency with active noise cancellation to match the conditions of the natural surroundings. The feature is likely to create a more customized and dynamic listening experience without the need to toggle around with audio settings.
• In September 2022, Bose Corporation introduced the Bose QuietComfort® Earbuds II noise-cancelling earbuds. Equipped with the Bose Custom Tune^TM sound calibration technology, these earbuds intelligently personalize audio and noise cancellation performance to the unique shape of every ear — resulting in an unprecedented listening experience.
• Sennheiser Electronic announced in May 2023 the introduction of the Sennheiser SoundProtex hearing protection earplugs. These earplugs enable wearers to hear the best possible sound at concerts and loud environments without having to worry about damaging their hearing. The two-stage filters in SoundProtex are uniquely capable of passing on only clear, balanced sound to a user’s ears. 
  

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Market Segmentation

Type

• On-ear
• In-ear

Connectivity

• Wi-Fi
• Bluetooth
• NFC
  

Price

• Low
• Medium
• High
  

Application

• Music & Entertainment
• Sports & Fitness
• Gaming & Virtual Reality
  

Distribution Channel

• Online 
  • Company-owned Websites
  • E-commerce Websites
• Offline
  • Supermarkets/Hypermarkets
  • Specialty Stores
  • Others (Retail Stores, etc.)
    

Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
  

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