The Global True Wireless Stereo Earbuds Market size is expected to reach $243.9 billion by 2028, rising at a market growth of 34.6% CAGR during the forecast period.
True wireless stereo earbuds are Bluetooth earbuds or IEMs that don't have any cables or wires connecting them, nor do they have an audio source (smartphones, MP3 players, tablets, etc.). Since the earbuds have no cords, the mic, controls, and battery are all built into the shell. A growing number of users are choosing Bluetooth earbuds over traditional earphones while they commute or work out as a result of the recent removal of the 3.5mm true wireless stereo earbuds jack design from many mobile phones.
Wireless earbuds have developed into a very compact size and cordless form factor due to the advancement of Bluetooth technology, which refers to as True Wireless Stereo (TWS). True Wireless Stereo (TWS) uses Bluetooth signals rather than wires or cords to transfer sound. TWS stands out from wireless accessories since it doesn't rely on physical connections to media sources but still needs them to ensure that a device's many components can communicate with one another.
Wireless sport stereo earbuds that are connected by a wire that runs around the user's neck are an awesome example of this. However, accessories that make use of true wireless technology are just truly wireless. To connect to a media source device or to connect one speaker or earphone to another, they don't need cords. Through Bluetooth chips, connectivity is achieved fully wirelessly.
Different TWS devices can connect to media sources in different ways depending on the brand and accessory in question. A single earbud is frequently used as the main link between the news outlet and the second earpiece in TWS true wireless stereo earbuds. An immersive surround-sound experience is created when earbud one transmits a signal to the source device, joins, and then the source device sends the same signal to earbud two.
The pandemic did not affect consumer demand, nevertheless, as a disproportionately larger portion of goods retailing was done online. Throughout the pandemic, the market's steady growth has been maintained by the rising product demand for work-from-home/fitness activities. However, the COVID-19 pandemic saw a considerable surge in the production of several consumer gadgets. Consumer electronics were more in demand as a result of lockdown protocols. The consumer electronics sector grew exponentially as a result of the rise in popularity of smartphones, laptops, and personal computers.
Consumers growing emphasis on health and fitness is boosting the demand for smart devices to use while exercising. The popularity of video game consoles among sports fans and the growing demand for attractive wearable technology are driving the use of wireless earphones. True wireless earbuds have many advantages over conventional earphones, chief among them being their ease of usage for a multitude of activities.
Even better, these earbuds typically have ergonomic designs for optimal comfort and a snugger fit, and they now have longer battery lives than in the past so they can last longer than just a few stops on the train before needing a quick charge. All of this painfully demonstrates one thing: going wireless is now more enticing than ever. Tech-savvy consumers are quickly embracing portable headphones with cutting-edge capabilities like noise-canceling and echo reduction.
Premium wireless earphones are becoming more and more popular. The largest obstacle for the market for wireless earbuds is the widespread availability of counterfeit goods. The desire for premium products from the top market participants may be hindered shortly as a result of the availability of forged goods in grey marketplaces at unbelievably low prices. Additionally, the growing popularity of smart and neckband wireless earbuds is another factor that could limit the market's expansion.
On the basis of Price Band, the True Wireless Stereo Earbuds Market is divided into Below USD 100, USD 100-99, and Over USD 200. The USD 100-99 segment acquired the highest revenue share in the true wireless stereo earbuds market in 2021. It is because companies such as Apple Inc., Samsung Electronics Co. Ltd., and Jabra, among others, have significantly influenced the market share. Over the next few years, Apple Inc. is projected to maintain its leadership position in the global true wireless stereo earbuds market.
Based on the Sales Channel, the True Wireless Stereo Earbuds Market is classified into Offline and Online. The online segment recorded a substantial revenue share in the true wireless stereo earbuds market in 2021. It is owing to the growing number of smartphones along with the high penetration of internet. In addition, there are many key companies which are increasing their online presence for the sales of these earbuds. Along with that, the convenience offered by online stores would escalate the growth of the segment over the forecast period.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 31.2 Billion |
| Market size forecast in 2028 | USD 243.9 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 34.6% from 2022 to 2028 |
| Number of Pages | 166 |
| Number of Tables | 252 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Price Band, Sales Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the True Wireless Stereo Earbuds Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segments garnered the highest revenue share in the true wireless stereo earbuds market in 2021. The demand for TWS in North America has been largely driven by the success of Air Pods. Several smartphone manufacturers have released wireless earbuds that are specifically connected to their products. Many consumers are seen making purchases of related accessories due to the sharp increase in the frequency of smartphone replacement cycles.
Free Valuable Insights: Global True Wireless Stereo Earbuds Market size to reach USD 243.9 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Apple, Inc. is the forerunner in the True Wireless Stereo Earbuds Market. Companies such as Amazon.com, Inc. Samsung Electronics Co., Ltd., Huawei Device Co., Ltd. are some of the key innovators in True Wireless Stereo Earbuds Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Amazon.com, Inc., Xiaomi Corporation, Sony Corporation, Boat-Lifestyle (Imagine Marketing Private Limited), Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.) (Huawei Device Co. Ltd.), Shure, Inc., Sennheiser Electronic GmbH & Co. KG, and Bose Corporation.
By Price Band
By Sales Channel
By Geography
The True Wireless Stereo Earbuds Market size is projected to reach USD 243.9 billion by 2028.
The Growing Popularity Of Wireless Earbuds Among Gaming And Sports Enthusiasts are driving the market in coming years, however, Growing Products Demand That Are Counterfeit restraints the growth of the market.
Apple, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Amazon.com, Inc., Xiaomi Corporation, Sony Corporation, Boat-Lifestyle (Imagine Marketing Private Limited), Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.) (Huawei Device Co. Ltd.), Shure, Inc., Sennheiser Electronic GmbH & Co. KG, and Bose Corporation.
The expected CAGR of the True Wireless Stereo Earbuds Market is 34.6% from 2022 to 2028.
The Offline segment acquired maximum revenue share in the Global True Wireless Stereo Earbuds Market by Sales Channel in 2021 thereby, achieving a market value of $167.3 billion by 2028.
The North America market dominated the Global True Wireless Stereo Earbuds Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $83.7 billion by 2028.
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