Fort Collins, Colorado, Sept. 19, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "True Wireless Stereo Market Size, Growth, Share, Statistics Report, By Price (Below $100, $100-$199, Above $200), By Application (Music, Gaming, Calling), By Region, and Segment Forecasts, 2023-2032.”
According to DataHorizzon Research, The true wireless stereo market size was valued at USD 47.3 Billion in 2022 and is expected to reach USD 593.2 Billion by 2032 at a CAGR of 28.9%. The increase in demand for wireless devices owing to their portability and advanced sound features such as Dolby Atmos, DTS, and quadrophonic sounds are leading the market growth.
The increased sales of TWS are because of its advanced look and growing popularity among the millennial population. Moreover, the desire to stay updated with the latest technologies and people opting for better sound quality has led to its growth.
The presence of OEM players in the market has enabled the production of novel products. Moreover, these devices are comparatively cost-effective in comparison to the branded ones. Also, the fitness industry has expanded post-COVID, citing health reasons which has led to increased sales of the TWS.
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Report Snapshot:
| Report Title | True Wireless Stereo Market |
| Market Size in 2022 | USD 47.3 Billion |
| Market Size by 2032 | USD 593.2 Billion |
| CAGR from 2023 to 2032 | 28.9% |
| Largest Market | North America |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors. |
| By Price | Below $100, $100-$199, Above $200 |
| By Application | Music, Gaming, Calling. |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others. |
| Major Market Players | HP, Samsung, Xerox, Panasonic, Canon, Brother, Epson, Ricoh, Kyoura, Inca Digital, Smurfit Kappa. |
Segmentation Overview
The TWS stereo market has been segmented into price, application, and region. Based on the price, TWS devices between USD 100 and 199 held the majority market share in 2022. Moreover, the growth of the segment post-COVID has been commendable. On the other hand, devices below USD 100 is growing at a significant pace.
Based on the application, the market has been segmented into music, gaming, and calling. The music segment dominates the true wireless stereo market due to shift in priority towards HD sound quality for a better sound experience. The calling segment is also growing significantly with the increase in remote work setups and meetings.
Geographically, North America is a dominant region in the true wireless stereo market due to faster implementation of advanced technologies in the region. The other factors affecting the market is an increase in the number of fitness enthusiasts and its popularity amongst the younger generation. USA dominates the region, followed by Canada
The market in Asia Pacific is growing at a steady pace. The increase in the millennial population in countries like India has led to an increase purchase of styling and wireless headsets. Also, the TWS proves easy to operate in overcrowded places. China dominates the Asia Pacific region and is followed by India.
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Key Developments in the Industry:
- The new Noise Buds Venus recently launched offers ANC up to 30db which helps cancel out most of the noises of the surrounding environment. These earbuds are equipped with 10mm driver and support fast charging, which allows 120 minutes of play with just 10 minutes of charging.
- Apple has launched the Airpods 2 generation, which supports fast charging and provides 3 hours of listening time and 2 hours of talk time with a 15-minute charge.
True Wireless Stereo Market Report Highlights:
- The true wireless stereo market is projected to attain a CAGR of 28.9% by 2032.
- Based on the component, bottle holders registered positive growth in the past and remained dominant in the following years. The saddles are expected to have a steady growth.
- Based on type the road bicycle dominates the market. The increasing environmental concerns and the emission norms have led to growing sales. Cargo holds a significant market share.
- The offline channel dominates the market based on sales. The try-and-buy tendency of the audience is contributing to its growth.
- North America is a dominant true wireless stereo market. The growth in the region is attributed to the region's faster acceptance and adaptation to newer technologies. Moreover, the presence of the majority of market players in the region has led to market growth.
- The market in Asia Pacific shows significant growth. The growth in the market is due to the presence of a large consumer base for the TWS. Also, the increase in different smaller and bigger market players in the region, which have both affordable and high-end TWS, contributes towards the growth in the region.
- The prominent players in the true wireless stereo market report include Apple, Bose, Jabra, Harman International, Senheiser, Xiaomi, Boat, Boult, Sony, Panasonic, Mivi, and others.
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True Wireless Stereo Market Report Segmentation:
True Wireless Stereo Market, By Apparel (2023-2032)
- Gloves
- Clothes
- Shoes
- Protection Gear
True Wireless Stereo Market, By Type (2023-2032)
- Mountain
- Hybrid
- Road
- Cargo
True Wireless Stereo Market, By Sales Channel (2023-2032)
- Offline
- Online
True Wireless Stereo Market, By Component (2023-2032)
- Saddle
- Bottle Holder
- Air Pumps
- Kickstand
- Mirrors
- Pedals
- Light
True Wireless Stereo Market, By Region (2023-2032)
- North America
-
- U.S.
- Canada
- Europe
-
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
-
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
-
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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